The Monmouth inquirer., 1925-05-07

Ct nOAb uA0CA AAC
Lobby" Bars Consolidated Find
After expressing the opinion that
all state moneys should be put in a
single fund in the treasury, Mr.. Bug
bee declared that efforts to effect such
a rule had been prevented by power
full lobbies." He mentioned especial
ly the Fish and Game Commission. All
the moneys it receives from any
source is retained by it for the pleas
ure of hunters and fishermen. He
said Governor. Edge had tried to ac-
complish the consolidation Of funds
but had been frustrated by the
lobby"
The comptroller. who is also State
Boxing Commissioner by fiat Of the
Legislature, said that job had been
wished on him by a Republican
Legislature that wanted to take it
away from a Democrat. He said hs
did not think the State lost any large
part of the ten per cent tax III re-
ceipts of boxing events because hs
kept a close check on them.
But Mr.. Bugbee suggested. deal
ing witt boxing promoters is not the
most pleasant job in the world"
State Has cabinet"
The Comptroller. explaining this
growth of the business his office has
to handle, said chat in the admins
tration of Governor Edwards his Of
flee sent u about $4,000 checks an
nually. but that present it is handling
160, 900 a year.
During recent years, Mr.. Bugbee
also explained. the powers Of the
State House Commission have been
tremendously increased. 1t handles
the business of the State, while the
Legislature is not in session. Mr..
Bugbee said it has become practically
a state Cabinet" The members are
the Governor, Comptroller and Treas
urer. Senator Bright commented the
name is a misnomer and should be
Board Of Control"
Debt of state s8s, 100000 Now
Mr.. Bugbee, replying to Senator
Simpson, said New Jersey now has
a bonded Indebtedness of $8S. 900. 900.
whereas prior to the first bonding
act passed in 1919, the State was fres
from debt, except for a small sobliga
ton of approximately 100000, due to
the Eyderal government.
MI. Bugbee explained. however,
that of the bonded debt of $4,000 600,
issued as New Jerseys share in build
ing the Delaware River bridge and the
Hudson River tunnel, should not be
charged outright. as an obligation OF
the State as tolls will pay the sinking
fund and interest charges on the out.
lay.
"Gypped" by State Teachers
Mr.. Bugbee frankly stated his be.
lief that New Jersey is being "gypped"
by the contributions it is making to
the teachers retirement fund. This.
he explained, was due to the fact that
previous Legislatures had allowed the
amount Of the States contributions
annually to be fixed by actuaries act
ing for the fund.
This year the amount asked for was
cut down from $1,000, 900 to $4,000 zoe
as the result of legislative action
There is now a reserve of $7,0OO,0 600
in the retirement fund.
The trustees of the fund, Mr.. Bug
bee said, are contemplating a reserve
Of $50, 900, 900 to be accumulated with
in the mex ten years.
He said that when many young
teachers retire from the profession
they are allowed to withdraw deposits
they have made, but that the amounts
the state deposits in the fund for each
teacher are never returned.
Deposits of the State, Mr.. Bugbee
told, are kept in about four hundred
banks. The two per cent maximum
interest which the state law author
lies on its deposits is not paid by
some Of the banks. These are the
banks where the deposits are checked
out most heavily. The banks refuse to
pay interest because the checking
business imposes an extra expense on
them.
Grosscup Last Witness
When Mr.. Grosscup tool the stand
he was asked by Chairman Bright
his salary and after stating that II
was SIS. o year added that "he
would not insult his intelligence by
working for that amount a year"
This last utterance followed this
query from the chairman whether Mr..
Grosscup was engaged in other &C
tivities. Pressed further, he said he
acted as receiver for the st. Charles
Hotel in Atlantic City. In so mans
words. he told the commission that
1t was none Of its business as to the
amount Of fees he got in this connec-
ton. MIR. Grosscup stated that he is
now manager of the St. Charles which
position carried a salary plus mainten-
ance for himself and wife.
You don't spend very much time in
your Office" Senator Bright inquired.
Pm in the Office a much as !
should be- retorted MI. Grosscup.
$~5,ooo,oo0 Without Bids
The witness disclosed the fact that
approximately $5,OO0.CO0 worth Of
State supplies are purchased annually