New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-10

not ask it,"
81 don't know that I gained any
impression at that time. All I had
was a general knowledge through the
papers"
and you don't say that you know
now the outline OF the facts that
occurred then ?"
Il cannot say that I remember very
"Do you remember what was done
at that time for the purpose Of meet
ing the short-term paper, including
stock notes, by the city, to prevent it
from defaultng in the payment OF it's
temporary debt ?"
81 cannot say that l do remember"
And you have not looked it up
since you have been Mayor?"
only IN general way. l heard
ABOUT 1T from time to time"
Menace OF Debt TO City
If the city was embarrassed at that
TIME and had to pay besides the amount
OF It's Indebtedness S4,OOOO0O to raise
the money, and it had only 500, 900 900
or thereabouts outstanding, what do
you think would happen to it now if it
had S2O0000,000 out and there was g.
financial crisis?''
- nave no financial CRISIS,
"They did not have before il oc-
CURED before, did they? OF course
they did not have any financial crisis
until it occurred but it a financial
crisis should occur it would be large
~ at the expense of the city, wouldn't
1t, with this large outstanding tenn
porary debit"
Il do not think at this time there is
any danger OF a financial crisis.'
so that you think the policy of
having at the present time short
term temporary indebtedness of APP
proxlmately S200,00o 900 is d safe
financial policy for the city?"
think 1T is necessary to have it
until such time as the money rates
come down a little"
there was an executive meeting of the
committee, at which Assemblvman
bloch and Senator Walker demanded
That Senator Lusk withdraw entirely
from the committee, insisting that the
mere announcement that ne would not
be an active member of the committee
was insufficient. They based their de-
mands that he resign on the fact that
he had not only accepted the silver
service from the detectives whose
legislation he sponsored, put had ac-
oused other members of the Legisla-
lature, whom he did not name, as be-
ing IN the same boat with him. Bloch
insisted that there should be a special
meeting of the committee at which
Senator Lusk should be forced to name
the legislators who he said took pres
cnts as general thing. No action WAS
taken on the demands.
Ullman Quits Hearings
Another nen,he, of +ha co,,,,,;+4
Assemblyman Sol Gilman. also let il
be known through Chairman Never
that he would follow Lusk's cue and
not participate in any of the public
hearings. Chairman Meyer, on behalf
OF Assemblyman Ullman, who has been
arrested on charge of conspiring
TO defraud the United States govern
ment, issued the following statements:
AT the outset Of the public hearings
or the committee Investigating the
affairs of the City of New York, of
winch am member. / desire to
make 1t clear that do not intend
TO SIT at the public hearings, nor in
anyWlse participate in these activities
until am cleared of the charge
pending against me, of which | am alb
solutey innocent.
Il Go not intend that the purpose
Tor which this committe was formed
and Its work IN any way, shall be
hampered by any collateral attacks IN
on me Individuality The purposes Of
tie commit ee in its endeavor to
beneht the city are far too important
10 be clouded by eXtraneous issues -
he statement Of ACKNOWLEDGMENT
ullman was made public few min
utes prior to the committee leaving
rs he4dGuarters on Park Row for the