Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-09-02
LAND DEAL
IS AGAIN INQUIRED
into BY PROBERS

Gene in, SO that during the course of a
year we borrow ss high as $4,000, 900.
TT has been especially hard to bor-
row money this year on account of the
tightness of the money market, espes
ctally at 4 per cent, and there have
been times when, If I had not been
Bile to borrow al comptroller from the
bank of which l am president at 4 per
cent. / would have had to pay a higher
rate.
"AIl this money up to September /
has been borrowed at 4 per cent, and
the %Ironbound Trust Company has
loaned to the city $1,625. 900 at this rate,
part of which 1t has had to borrow OUT
side at a higher rate"
He agreed with the opinion of Assis-
tant City Counsel Charles Myers that
the school board had no right to con-
tract for work unless the money was
on hand.
"That is not the law" said Mr.. Muir
ray.
I'm o a lawyer, but 1 believe it is"
retorted the. city comptroller.
THE rest of the cities throughout the
State do not so look upon the ques-
tion." interrupted Chairman Freling-
huysen.
"Well, l believe the rest of the State
is doing wrong and we are in the right
was the city comptroller's comeback.
MY opinion is that it's bad business
to get only 2 per cent. for school
moneys deposited n to pay A per
cent. for money that is borrowed" said
the chairman.
IT agree with you. but we must live
up to the law injected Mr.. Bachelor.
City Losing Money.
Because of that bad business the
taxpayers lose In the neighborhood of
$780, 900 a year." declared Mr.. Freling-
huysen.
mo. it's about 4 10000" quickly re-
piled Mr.. Bacneller.
And he then continued: 81 hope that
If the law is a. We interpret it your
committee will Gee to 1t that 1t Is
changed, for 1 thoroughly agree with
| you that it's bad business"
Your Interpretation of the law Is
wrong" put in Mr.. Murray.
1t looked as If Mr.. Murray and Mr..
Bachelor were going to warm up
when Senator Frelinghuysen suggested
that the city of Newark get al opinion
from the attorney-general on the sub
5ect.
Commissioner Taylor Sworn.
Commissioner Charles P. Taylor was
the next witness called. HE explained
that he was connected with Storms &
Co., electricians, but that he shared in
no way In the profits that Storms 4
Co. made from work done for the school
board.
DASrr xa1aI11l hroAtkanf C.tiIharf to1
titled that II did not come within the
scope Of his business to examine the
older school buildings. His only duties,
he said, was to supervise the constitu-
ton of new buildings, and to lake
charge of an old building when an adj
dition was mad to 1t. Asked if he had
any trouble with n of the contrac-
tors, Mr.. Gui1bert replied:
Were scrapping with them all the
time. That's how / earn my money"
Supervising Engineer Knight told OF
the heating and ventilating systems in
the schools, most of which he declared
was in good condition. His thermostat
| system was a scientific classic. Secre-
tary Argue explained that the total cost
of the Board of Education for the year
| Just closed was $151, 300. A recess vas
then taken till $3.50 o'clock.
Probers Resume Work.
The school probers resumed their in
vestigation of the Newark public
school system at II o'clock this morn
ing. Senator Frelinghuysen announced
that 1t was the intention of the inves-
tigators to return to Newark in a fort
night. The committee will visit the
Oranges. Montclair and all outlying
sections of Essex county next week.
The per capita cost of operating the
Montclair schools is said to be the
largest prevailing anywhere In the