New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-11
OLD BOND DEAL STORY
IS DENIED BY Stokes
Ex-Governor of New Jersey
Takes Action to Run Down
Author of Circular.
RIVAL CONDEMNS ATTACK
Senator Pierce, Also Candidate
for Governor, Urges Prompt
Inquiry-Charges Based
on School Fund Probe.

fFrom a STAFF Correspondent o, The Tribune.
Trenton. y. j.. Sept. Io-Former Gov
ernor f. c. Stokes took prompt steps to-
day 10 find out the author of the anony-
nous pamphlet. which was sent broadcast
through the state. in which he was at
tackled for his brothers alleged connection
with the sale Of school bonds 10 the state
while he was Governor. The pamphle'
purport5 to quote a part Of the report OF
the Senate committee which recently IN
vestigated school conditions In New Jer
sey. Senator J. S. FreIinghuysen was
chairman OF that committee.
The pamphlets were mailed in New
York and Philadelphia. and Postofiice In
spector Cortelyou has begun an investlsa-
ton. Mr.. Stokes will have the help OF al
least one of the other Republican candl-
dates for Governor I'm his efforts to find
the sender Of the pamphlets
The former Governor received the fol-
lowing telegram to-day from Senator
Carlton r. Pierce, who is one of ms
rivals for the nomination for Governor:
WISH 10 th IlfSS my ShaN''S
ton of the anonymous attack made upon
you. trust you will run 1t down ano
fasten the responsibility
II is believed here that vigorous IN
yestigation will disclose the identity OF
the sender of the pamphlets in the neA'
few days.
The pamphlet purported 10 quote tha'
~ tho lnNeStlEdtlH-
committee which alleged that Howard
Stokes, the Ex-Governor brother hdu
made large profits by selling school pohos
TO the state school fund when l. -
Stokes was Governor.
The former Governor denied to-day 'h'
charges in the J., CO., Of the lnVesusa''"a
committee.
, During my [, Jyuds were purchased
OF twenty-eisht uiicrent parties he said
"A little more than 10 per cent Oh 'ne
total purchases were made Directly from
the issuing municipalities. Inc trustees
always endeavored to buy direct "heH
possible That cannot always be DONE aS
municipalities do not always issue bonus
at the time the school fund has none!
for investment, nor is ii possible AS rule
for the school fund TO take the "hoie OF
an issue Indeed, | always advocated the
policy Of taking small amounts OF dh-
ferent issues, rather than making Id'se
block purchases.
THE largest seller OF bonds during my
term was r. ". Grant & Co. firm tha'
during that period and since was un-
friendly 10 my brother. The charge IN
the recent circular by interlineation tha'
there was relationship between my
brother and r NJ Grant & Co. because
AZ one time they were co-partners' Is an
illustration OF it's falslty. That partner
shin dissolved in enmity before | became
Governor. and that enmity has never
healed Surely. II had wanted 10 sho"
favoritism. | would not have acqulesced
in the purchase OF bonds from one un'
friendly 20 one OF my own kin Tha'
fact however. had no influence with me
as was endeayoring 10 serve the inter
ests Of the state without regard TO per-
sons
81 was not the purchaser OF the secur'
i,ros of the school fund No Governor Is
The transactions do not 80 through the
Governor's office | was simply one OF
the five purchasers. and | conscient!ousi\
narformed my duty, investigated the
character Of the bonds purchased. ano
was amply satisfied as to their worth and
TO the fact that the state secured It's
bonds at the lowest price possible under
the market conditions at the date OF pur
chase. Bonds are much cheaper to-day
than when served as Governor"