New-York tribune., 1921-12-02

NEW YOR
continued. "Then the course Of the
examination led us to see that IL was
going to cover perhaps more than we
were prepared to meet, and then the
question OF immunity came up. / do
not think it was ever intended by any
director that he would not appear. We
simply allowed ourselves to be Sub
jected to service in the usual form.
"Havc to Protect Ourselves
eve have to protect ourselves. The
attitude of public bodies, when they
are Investigating, Is always that we
are wrong until we have proved our
selves right. 1t is tho very reverse in
q court. For the interest Of tho COM
pany and the stockholders we have
followed the advice Of counsel, and I
can say to you that we do SO very un-
willingly. But we have given our rea-
sons, because we do not want to be
misunderstood.
"Now, just a word about Mr.. vcnncr.
You have said that we intimated it was
your purpose to lend assistance to the
Venncr suit. ] do not think that was
intended, and If it was, let us change
it. 1t was thought If we appeared that
incidentally material might be fur
nished to Mr.. Venner, and we could
not run that risk. That was the
meaning OF our statement"
Chairman McAneny again outlined
the purposes Of the commission, saw
ing that the matters upon which the
commission wished to question the di-
rectors had bearing upon possible
valuation, (which will be Of great in
terest to us presently, not merely be-
cause they do affect the question of
the adequacy OF the service recently
given"
Returning to the subject Of immu-
nifty, Chairman McAneny addressed Mr..
Belmont:
You have said that your principal
reason tor not proceeding, as we had
expected You would, refers to the
waiver of immunity. Of course. the
waiver of immunity becomes scarcely
more than technicality, not implying
improper econduct on the part of those
who are examined, but protecting the
examiners from any possible charge in
the future that their examination had
been used for immunity purposes"
Public Duties Of Probers
'.ln other words" interrupted Mr..
Belmont, largely to protect the future
comfort of the examiner we must make
gesture and waive"
II wouldn't put it quite that way"
Chairman McAneny quickly retorted.
"The examiners are public officers, Mr.
Belmont. They have various public
duties to consider, all involved in this
transaction. | would rather put it:
in order to protect yourselves from
possible future discomfort and annoy
ance. If you'll pardon ME, it seems
you take a wrong position in refusing
TO make your examination possible"
'"There is nothing impossible" said
Mr.. Belmont, with a wave of the hand.
I'VE are here to be examined. If you
don't examine US it is not our fault"
eve understand perfectly what the
issue is, Mr.. Belmont" nodded Chair
man McAneny.
Mr.. Belmont went on to explain:
I'VE all feel that we are very much
that it will be represented in the
papers as half acknowledgment of
possible guilt that we want to avoid
That is why our reasons have been
put 50 carefully on paper. There is
no misunderst tanding them, and OF
course, they arc in your hands and in
the hands Of your counsel. They will
be misrepresented, but we must take
that risk. We would much prefer, as
matter of fact, to waive immunity, If
it didn't involve exactly what has been
read to YOU"
No Chance To BE Taken
Commissioner Hardness suggested
that immunity waivers were repeatedly
signed as matter of form before
legislative bodies.
II believe ! have done it myself be-
FORE" said Mr.. Belmont, "but not to
form the basis of plan. and we were
not exposed in the courts as we are
now"
Mr.. Belmont declared the directors
were willing to be questioned.
"There is not anything between us
except this waiver Of immunity he
said. "Thc directors are here to testi-
fly to anything and everything. 1t was
not our purpose to limit the scope of
your inquiry. All that it exposes is
the possibility of your criticism for
consenting to examine US and be ac-
cused of giving US an immunity bath"
Mr.. Shearn then suggested the di-
rectors be given time to think the stu
alton over. He said the commission
had not suggested the field might in
volve criminal consequences until the
SQUJcCV was DiOu6HI Qp w c0iicS ~
Quackenbush, general counsel of the
Interborough, at hearing last week.
at seems to me the directors ought
to reconsider and decide to be ques-
toned about these matters" continued
Mr.. Shearn, addressing the commits
sion. "There can be no consequences
if the facts are as they understand
them, but it is your duty to avoid Civ
ing that possible immunity. had hoped
to get the whole story from Mr.. Bel
mont 1t is true that he was the
buildcr-up OF this system and it has
been a great benefit to the city, but
it is equally true that in after years,
perhaps acting under stress, things
have happened that require explanation.
eff the examination develops a spirit
of unfairness, why the witnesses are