New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-11-27
swered Wood. you know that hap
pened year and a half ago.
Wood Admits He Isn't Rich.
Are you a rich man ?
Wood said he wasn't

Are you a rich man."
Wood said he wasn't.
well" said Senator Thompson, are
you so rich that you cannot remember
the details of a transaction In Wnlcn
you lost s4.999?"
Wood again endeavored 10 evade an
answer, and Senator Thompson, losing
patience, accused him of stalling. -.
"If you'll let it come little quicker,
the Senator said, an have more conf
dence in you"
Wood said that the only other person
he had spoken to about the sale OF his
sanitary company stock was Warren
Leslie, a brother-in-law Of Senator
O'Gorman, who was a director in the
company.
Wood later produced a letter from
John A. Maher, dated June II, 1914, in
closing 81 in payment for the American
Sanitary Company stock (which you
turned over to me on Wednesday last
lie couldn't remember whether the let
ter had come through the mail or had
been carried to him by messenger.
Finally he said Mr. Maher had brought
II 20 him personally.
The committee decided TO investigate
the agreement further on its own hook.
Despite Woods assertion that the
stock was worthless, Nelson j. Water
bury, president of the Railroad, Steam
boat and Sanitary Supply Company,
the American Sanitary Supply Com
pany under which he paid it royal
ty for the use Of its patents. he
agreement to-day.
The roapohora Of tho rom rnittee made
no secret Of the fact that their in
quiry into Woods ownership of the
sanitary company's stock is for the
purpose of determining whether or not
his transfer of it to Maher was sub
terfuge similar to that with which
they charged Chairman Mccall.
Tracing Construction Stock.
Wood also said, after much ques-
tioning, that he sold his stock in the
Northwestern Construction Company,
of which he was the sole owner, to has
brother. who sold il to W. G. Banks
for $4,000, and applied the money to
the part payment of loan which he,
the Commissioner, had obtained from
his brother. The name of the company
was changed. Wood said He also tes-
tilted that it sold electrical contacts
such as are used by the street rail-
ways.
The history Of the sale of 1000
shares of the New York & INTERIOR
ough stock by Wood to the Third Ave
nue. Railroad was also delved into
Wood said he received $40 share for
his stock.
"The other stockholders received
only So n share, did they not" asked
Senator Thompson.
81 don't know what anybody else re-
ceived," Wood answered, with a smile.
Later in his testimony he said ne
exchanged his stock for bonds before
he sold to the Third Avenue company.
He admitted that he had conducted re
gotiatons for the sale of the bonds
through Edward A. Maher. vice-presi-
dent and general manager Of the Third
Avenue company. and father Of the
John A. Maher, to whom he sold hi,
So. 900 worth Of stock in the American
Sanitary Supply Company for 81.
did you ever talk to Mr.. Maher on
that private telephone you have in your
Office ?" asked Senator Thompson.
Wood admitted that he had. He de-
MED that he had consulted Maher on
the resolution providing for the insti-
tuition Of penalty action against the
Third Avenue company for non-com-
pliance with the commissions orders
which he introduced at the meeting OF
the commission on Friday week ago.
"Are you not as Public Service
Commissioner frequently called on 70
designate the difference between par
value and real value?" Senator Thomp-
son asked at one stage Of the proceed
ings.
Wood shifted and evaded, until Sena-
tor Thompson finally said:
"You answer that question at once
or III prefer charges against you be-
fore tomorrow morning. You know
you are not fooling me-"
The question was answered by Wood
very nuickly