The evening world. [volume] (New York, N.Y.) 1887-1931, 1908-11-09
MORSE BLAMES
HIS DOWNFALL ON
THOMAS F. RYAN
Indictment Came When Ice
Man Began Probe Into
Equitable.
HELEARNED TOO WELL
Did on Small Scale What
Ryan Did on Large, and
So Faces Prison.
HELEARNED TOO WELL

Ryan for his downfall.
II is long story, dating back TO the
Incorporation of the Westminster Rail
road and to Morse's putting on a new
steamship line between New York and
Boston in competition with the New
Haven Railroad.
Morse made his entrance to New York
in connection with tn" Ice Trust and a
small uptown bank. In Maine he had
been banker and there Re was fam
iliar with the owners Of the Maine Ice
houses. from which a great part of New
York City's supply was derived. The
local Ice men. like the local manufac-
turcrs. would borrow money from the
banks 10 carry them over until they
shipped their product to New York. when
the notes would be paid Through his
banking facilities Morse became &C
quaiutea with the profits OF the ice bust
ness and financial standing and re-
sources of Maine !cemen.
Their had been already a consolida'
ton Of most of the Hudson River ice
companies. but 1t was not possible TO
pu. Up the price substantially 50 long
as the Maine ice houses existed in open
comre-. n.
IN iorse's little New York bank h.
Interested several Tammany politicians,
John f. Carroll AMONG the frs. Through
M. Carroll he me; Robert A. Van
WICK, a City Court judge, who after
wa.G became he ayst Mayor Of Greater
New r7iN. He also met Andrew Freed
man and others OF Richard Croker $
personal circle. who became the real
government ot New York when Robert
A. Van Wyck was elected Mayor.
Boom of the Ice Trust.
Under the Van Wyck administration
Morse was able. through political infiu-
snces and the control OF the docks and
piers where he ice was handled. 70
Guild up a big Ice trust, which included
both the, old Hudson River combination
and the Maine ice houses. This trust
was enormously capitalized. tens OF
millions Of dollars of watcred stock be-
ing issued. The retail price was ad-
vauced from thirty cents a hundred to
forty nifty and sixty cents The stock
which had cost next to nothing. became
the favorite gamble Of all the locaI
poit !ans, and was advanced 20 near
par, netting an enormous prof, to Morse
and his associates.
The Ice Trust trod on nobodys toes
except the 100000 ordinary ice consum-
ers OF New York. II !ntcrfered with
none OF Thomas f.. Ryaus schemes or
j, T. Morgan Il Co.'s corporations or
with the high hnGnciers of Wall street.
They regarded it as a side line OF
legitimate Tammany graft. and so long
as they got their millions of profit from
the traction, gas and electric light com
panIes they We're glad to see Morse s
Tammany associates prosper through
raising the price OF ice. because It there
by relieved The political drain to some
extent on the big public service cor
porations.
Turned to Banks.
Inflated with his ice success and with
more than $1,000 900 in profits, Morse
branched out in the banking business.
He bought the Bank of New Amster-
dam, the Bank Of North America and
with the IIen2es and Thomas secured
other banks lie was also interested f.
the Knlckerbocker Trust Company
whose President, Charles r. Barney. he
had let into the profitable Ice Trust
deal
There was nothing moro TO be made
out OF the Ice Trust. The Evening
Worlds fight against the increase in
the price of ice had forced reduction
The close of the Van Wyck admin!-
tration and the election of Mayor Low
had deprived the Ice Trust OF Its
political monopoly over New York's
docks and piers.
Morse had unlimited financial ambi
ton. He recognized that. although HI
was worth sl5,OOO,OO0. he was a minol
millionaire in comparison with the
Traction and Consolidated Gas mag
mates.
Charles T. Barney also felt that hi
relations to william C. Whitney haC
entitled him to continuance in tn,
Traction inside ring, although Mr.
Whitney was dead.
Morse concluded there was NOR,
money TO be made In new traction facil
tiles than in anything else, Barns!
thought SO. too. They got hold OF tn
franchise for the Westchester trolle!
road. proceeded TO arrange for the con
structlon OF a tour-track line with m
grade crossings, which would run iron
Connecticut to tie Bronx and there con
meet with the proposed east side sub
way. This would give them a profit
able direct haul and an entering wedg
TO compel their being taken into tn
traction monopoly.
The steamship Combine.
Morse had already acquired tho Hud
son River Steamboat line. He got int
that business through the handling o
the Hudson River ice. where he foun'
out how cheap and profitable rive
Transportation was. there being NOR
money In carrying ice at a good freigh
rate than in cutting and storing II. Il
ths old competitive days. where ther