New-York tribune., 1920-02-19
Hedley Will
Fight to Keep
/. r. T. Lines
worry about the people. We will take
care Of the people,"
"Well, do worry about the people"
oa{H +ho tv}$uASs
Continued from pass 1

worry about the people. We will take
care Of the people"
"Well, I do worry about the people,
said the witness.
"No, don't worry about the people,
continued the Mayor. "We will take
care Of the people. That Is what we
are here for. That is what they elected
US for. and that is what they expect
Us to do for the balance of our term"
"Well, then, Mr.. Mayor, you will take
care Of them a great deal better II you
give us enough money to get along with
and don't let US go broke" Mr.. Hedley
said.
"If you don't make enough money ia
suit the stockholders and ,bondholders
and yourself will you turn back the
subways to the people and let the city
run them 2" asked the Mayor.
"You mean me personality" querieo
the witness, with smile
"No; will you advise the directors
as president, to do it7" asked the
Mayor.
"a Gold Nine" Says Hylan
mo-" Mr.. Hedley answered; "I shall
advise the directors to hold on to the
very last ditch, and not let you have
it until you take it away from US, and
| don't think you can take it away
from us"
ut is a gold mine, and you want to
keep it," said the Mayor.
"No; that is not so," said the wit
ness.
when you made the 1877 per cent
dividends, Of which you have some
portion yourself. you did not offer to
return anything to the people then, did
you :" asked the Mayor.
"No. That is not tho custom of divi-
dsnd collectors," said Mr.. Hedley
"They keep it all"
Corporation Counsel Burr declared
that 1t appeared the witness wanted to
keep the original contract. with only
fare instead of the fve-cent fare. Mr.
Hedley admitted that was the only
change he wanted. but in reply to ques-
tons later said that the company Off
cials would be very glad to discuss
other notifications of the contract.
Major La. Guardia, President of the
Board of Aldermen, opened his bat
teries on the witness at this point and
bitterly condemned the board of direc-
tors of the Interborough during the
course of lengthy examination Of the
marlborough president. The Mayor
and Comptroller took good deal of
satisfaction in the way the aldermanic
president went after the witness, smil-
ing and nodding approvingly.
Major La Guardia contrasted the
bankrupt condition Of the Interborough
with the aff1uent condition Of its inji-
vidual directors, and wanted to know
If Mr.. Hedley thought the directors
had exercised the same prudence, care,
intel igence and foresight in the affairs
of the company as they had in their
own businesses. Major La Guardia
mentioned August Belmont, Messrs
Berwind, F1eedman-"who died worth
several acknowledgements and
other directors.
"The fact that they are not in
solvent, and that We know they are
enormously wealthy, would not that in
dicate that they were more prudent and
careful with their own financial affairs
than they were with the affairs Of the
company. in looking after the widows
and orphans who hold the bonds?'
asked Major La Guardia.
well, they may have erred in thei,
Judgment in this particular case" sale
Mr.. Hedley, "but l assume they were
like other men, they did not put all o.
their eggs In one basket, and that they
have their fortunes distributed in sucf
a way that they might make mistake
Is one. company and that it would no
ruin them"
Major La Guardia wanted to know i.
the witness was making any effort t,
change the board Of directors, and i.
he did not think it would be a whole
fomo and reassuring change to tn,