New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-29
More Indictments
Expected for City
Park Deal Inquiry
Evidence Of Frank Bailey
Called Highly Important
by District Attorney

Frank Bailey, vice-president Of the
Title Guarantee and Trust Company
and president of the Realty Associates
and Neponsit Realty Company, which
figured in the sale of the Seaside Park
site at Rockaway to the city for s1,250,-
600. plus interest charges of $4,000,
was the principal witness yesterday be-
fore the extraordinary grand jury
which is investigating all the Brooklyn
land deals where the city bought on
options.
Mr.. Bailey changed his mind and de-
cided to waive immunity before the
testified. After he emerged from the
grand jury room he talked with news
paper men in the presence of his coun-
sci, Clark l.. Jordan.
LET me tell you one thing" he said,
as he passed his handkerchief over his
brow. 81 hope none OF you will ever
see the time when YOU will have to give
evidence against your friends"
His Evidence Caused Indictment
Mr.. Bailey was the witness who fur
nished evidence 10 the regular grand
Jury last week that resulted in the in
dictment of William II. Reynolds for
perjury growing out OF his testimony
before the condemnation commission IN
1912. At that time Mr.. Reynolds swore
that he had no interest IN the Seaside
Park property, and testified that 1t was
reasonably" worth $4,000 an acre. Mr..
Bailey furnished the evidence which
showed that Reynolds did not dispose
of his interest in the property until
June u, 1913, year after he swore he
had no interest in it.
Assistant District Attorney Black. in
charge of the investigation, when asked
whether Mr.. Bailey was furnishing val
table information against the ring that
sold the site to the city, replied:
HE certainly is, but | can't discuss
il any further"
District Attorney Swami suddenly
left his Offices yesterday afternoon. and
it was reported that he was examining
enc of the most important witnesses in
the case When asked about the re-
suits last evening he said:
After what | learned from this wit
ross to-day ! am thoroughly convinced
that the indictment of Reynolds was
amply justified She has disclosed all
the facts about Reynolds's fifth inter
est in the property, who the Other
owners were and how much each one
received after il was sold. The facts
have never been told before, and they
are most convincing
When Mir Swami was reminded TINT
re had referred inadvertently TO the
witness as "She" he hedged and de-
clined TO say whether the witness he
ad examined was Adelaide b. Roberts,
the dummy" who contracted 20 hold
TIE property when 1t was passed from
the West Rockaway Land Company 10
the Neponsit Realty Company.
Other Indictment Expected
II was rumored outside the grand
Jury room that MIR. Bailey was giving
testimony and furnishing evidence that
will probably result IN r superseding in
dictment against Reynolds for perjury
and possibly an Indictment charging
conspiracy. II was leaned that the
groundwork for conspiracy charge
against several other persons connect
ed with the Rockaway deal has been
completed.
william F. Greve. vice-president of
the Realty Associates and the Neponsit
Realty Company, will be called as a wit
ness to-day. Mr.. Bailey will be a wit
ness again to-day. After the grand
jury completes the Rockaway transac-
ton il will take no the Drcamand Park
purchase and later the Marginal Rail
way land deals and probably the Flat
bush Avenue extension.
One Of the phases Of the Seaside
Park deal which will be investigated
will be the fact that the Board of Est-
mate voted 20 pay $4,000 more for the
property than was required by law.
That is, it paid Sl,25O,O00, outside of
interest charges. when it's option price
was 81 ,225,0 900.