Perth Amboy evening news. [volume] (Perth Amboy, N.J.) 1903-1959, 1918-07-27
|DENY STOCK IS
HELD IN TRUST
Franz RoeSsler, Vice President
of R. & H. Company, Says
Shares Are American Owned
RETAIN THEM AFTER WAR
Carried Point in Getting Out of
German Control, He Says
Hearing Ends Soon.
RETAIN THEM AFTER WAR

The hearing conducted by Attorney
General Merton e. Lewis at the re-
quest of the alien property custodian
to determine the ownership of the
Roessler & Hasslacher Chemical Com
pany, the Perth Amboy Chemical
Company and the Niagara Electro
Chemical Company was resumed yes
terday in New York.
Deputy Attor1ey General Alfred L.
Becker and Joseph NJ. Choate, repre-
senting the government, examined
Franz Roessler of this city, vice pres
ident of the Roessler & Hasslacher
Chemical Company, and son of the
founder of the parent concern in
Germany.
Mr.. Choate asked Roessler to ex-
plain why he had caused entries to be
made on the books crediting his own
salary to the account of the Deutsoho
Scheide-Anstalt. He said 1t was Sim
ply O gift to the German concern. The
witness answered that he had favored
the German cause before the United
States entered the war and that he
had felt pride In the German company
because his father organized 1t. He
said he had heard little about 1t since
the United States declared war.
"Well. when you sought to buy
controlling interest in your American
chemical plants from the DeutSche-
Anstalt and the German concern said
You must send over a confidential
man TO close the deal by word of
mouth did you agree to that plan p
asked Mr.. Choate.
"I did, because a confidential man
can usually get more results and ne
gotiate more expeditiously than one
can expect by writing letters. particu-
larly when the mails were risky on
account of the war;" replied Mr..
Roessler.
The witness admitted that divi-
Send of about 80 per cent had ac-
crued on $500 shares OF Roessler &
Hasslacher stock soon after he
bought It from the Deutsche Scheide-
Anstalt In February, 1917.
did you think It fair for you to
take that dividend, having so lately
bought up the $500 shares of stock p
asked Mr.. Choate.
mo, the dividend went to the
Deutsche-A -Anstant. Our main point
was carried when we succeeded in
buying up a control of the American
concerns so as TO keep them Ameri-
an-owned plants. We didn't care
much about those first dividends"
"If the war were to end tomorrow,
Mr., Roessler," asked Mr.. Choate,
"and the Deutsche Scheide-Anstalt
should come to you and say, You
bought a majority interest in these
American companies because a war
was on. We now ask you to sell the
stock back to us for what We paid,
what would be your answer"
IT would say. You can't have
them" replied Mr.. Roessler.
In reply to another question as to
whether he had made q will since ac-
quiring the stock, Mr.. Roessler said
that a will made previously would
leave the property absolutely to his
wife.
Perth Amboy Chemical Company, one
of the subsidiary concerns Of the
Roessler Sc Hasslacher Company, said
he was born in Germany and came 10
This country in 1888. Although he re-
turned to Germany and lived there
several years, he said, he had record
ed his American citizenship with the
Consulate at Frankfort-on-Mein ana
still retained II. He said he was at the
luncheon when Oscar r. Seitz, the con-
fidential agent, made his report on
buying a controlling interest in the
American plants. He said also he
had made out the report to the Custo-
dian of Alien Enemy Property about
the status of the Perth Amboy COM
pany.
Mr.. Choate announced that the boN :
ernments investigation would rest
with the conclusion of this testimony
except the taking of dispositions from
Jacob Hasslacher, a member OF the
firm of Roessler g. Hasslaoher, VINO Is
at his country home In the Catskills.
Tho hearing will be resumed on Tues
day at 1880 o'clock in tho Attorney
Generals office. 81 Chambers street,
when counsel will question the wit
nesses for the companies under inyes-
fgga fiOn