Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-09-14
WHY EDWIN WOLF SHOULD
BE MADE CITY CONTROLLER
He Would End Abuses In the Manage
ment OF the Sinking Fund and Thus
Bring About a Reduction
In Taxation
BY GEORGE NOX Mccain

E. T. Stotesbury, as majority members
of the Sinking Fund Commission, in
holding all meetings of that body behind
closed doors is not the only reason for
public distrust of Mr.. Hadley's admin
istration of the Office Of City Controller.
He has flagrantly disregarded the pro-
visions Of the new City Charter govern
ing the conduct of his Office. From it's
inception he has persistently opposed the
Charter. He was its active antagonist
in all the preliminary conferences before
the instrument was submitted to the
State Legislature for action.
His influence has been consistently di-
rected toward continuing the obsolete
and secretive system of departmental re-
ports and the management of the sinking
fund.
Article XII, Section Of the Charter
explicitly declares:
The City Controller shall prescribe the
form of reports and accounts to be
rendered to his department and shall have
entire charge and supervision of the ac-
counts Of all other departments and
trusts. All employees engaged in the
keeping Of any of the books or accounts
prescribed by the City Controller or
forming part of the city's bookkeeping
system shall be under the control and su-
pervision Of the City Controller.
How many of the great city depart
ments have accounting systems, modern
and up-to-date, prescribed by Controller
Hadley?
With one or two exceptions the va
rious departments have no adequate sys-
tenn of accounts other than mere memo
randa. Taken as a whole, it is a hodge
podge.
This fact alone, affecting his sincerity
to serve the public and obey the funda-
mental law, has been sufficient at least to
awaken the doubt as to his official fitness
for the place and further bestowal of
confidence in him on the part of the
voters.
Mr.. Hadley has no personal strength
in politics.
He is recognized as the candidate of
a select group of financiers and the lead
ers of the Contractor Combine, who alone
are demanding his reelection.
E. T. Stotesbury, the representative of
large fiscal interests, the personal and
financial adviser to and fellow member
with Mr.. Hadley on the Sinking Fund
Commission, solicited influential men,
bers of the Voters League to indorse
Mr.. Hadley until his insistence became a
matter of comment.
In view Of the Controllers open
alliance with the Contractor Combine, his
well-remembered opposition to the Char
ter in its inception and his refusal or
neglect to obey it's mandate since its
adoption, the Voters League decided,
very properly, to refuse him recognition
as its candidate.
Instead it indorsed Edwin Wolf,
business man familiar with municipal
accounting and the fiscal affairs of the
city.
Members Of Council and other city Off
cials and employees are restrained by law
from having any connection with city
contracts or the furnishing Of supplies
to any department.
AS emphasizing its freedom from con-
troll, as claimed by Mr.. Hadley for the
Sinking Fund Commission, at least one
instance is illuminating. 1t is likewise a
concrete example of sinking fund finan-
ciering.
On recent occasion the opportunity
was presented to Mr.. Hadley to purchase
with the funds of the Commission block
of city securities running into the mil
lions.
The money was available, or at least
would have been in short time, whereby
the Controller might have retired the
securities.
He elected however, to ignore the op-
portunity. Drexel & Co., of which bank
ing firm Commissioner Stotesbury is the
head, purchased them instead. Within a
very brief period Controller Hadley paid
a substantial profit to Drexel & Co. for
$2,975,000 worth of these same securities
and placed them in the sinking fund.
A still more fragrant instance in which
Controller Hadley betrayed the city's in
terests, in his official capacity, was in
connection with the purchase of addi-
tional land for park purposes some
months ago.
The price demanded for this property
was exorbitant, according to Mayor
Moore's best information and his own
judgment. To protect the city he di-
rected City Solicitor Smyth to appeal to
the courts. He wished at least to have
the disputed question judicially decided
1t was necessary under the law that
Controller Hadley join in the appeal
This he positively declined to do.
He refused to join in the request for 1
judicial settlement in matter that in
volved the possible saving of thousand
of dollars to the taxpayers.
His refusal was fatal to the contem
plated action on behalf of the people.