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By David Dayton McKean
Summarizing the testimony of Hague, Milton, and others,
the committee reported to the legislature on the amount of
money Hague had put by because of his ability to see things:
The testimony showed that it has been Mr. Hague's custom
to carry on his business dealings in cash through dummies,
avoiding check books, banks, and usual business practices in
his larger transactions.
In 1918 or 1919 he acquired for $12,000 a part of the property
on which was afterward built the apartment house in which
he resides in Jersey City. The consideration was paid by John
Milton's check. Mr. Hague reimbursed Mr. Milton in cash.
In 1921 Mr. Hague bought the remainder of the land upon
which Duncan Hall stands for $51,000. The consideration was
paid by John Milton's check, and Mr. Hague reimbursed him
in cash.
The Duncan Company was organized and built the Duncan
Hall Apartments on this tract. Mr. Hague received $65,000 in
stock of the Duncan Company for this land and, in further
consideration thereof, has since occupied, rent-free, an apartment
the rental value of which is $7000 per year.
On May 3, 1921, Mr. Hague acquired a property at Deal,
New Jersey, for which he paid $18,000. The title was taken in
John Milton's name, the purchase price was paid by John Milton's
check, and Mr. Hague reimbursed Mr. Milton in cash.
On July 18, 1921, Mr. Hague bought one hundred and fifty
shares of stock in the First National Bank of Jersey City from
Edward I. Edwards for $37,500, which he paid in cash money.
On July 21, 1922, Mr. Hague acquired one hundred shares
of stock in the Trust Company of New Jersey by subscribing to
rights originally in the name of a deceased stockholder for
which he paid $34,500....
In 1924, Mr. Hague was assessed $12,000 as a stockholder in
the Duncan Company. The assessment was paid by John
Milton's check. Mr. Hague reimbursed him in cash.
In 1926, Mr. Hague acquired property on Gifford Avenue,
Jersey City, at a cost of $27,500. The title was taken in the
name of Thomas McNulty, as a dummy, and the purchase
money was paid by John Milton's check....
On June 9, 1926, Mr. Hague acquired thirty-four shares of
Trust Company of New Jersey stock, for which he paid $8464.
On October 11, 1926, Mr. Hague purchased property at
Deal, New Jersey, in John Milton's name as a dummy. The
purchase price was $65,000. Mr. Hague afterward reimbursed
him in cash.
In 1927 Mr. Hague improved the property at Deal, New
Jersey, just referred to, and paid to the contractors $59,520.50.
The payments were made by John Milton's checks as the work
progressed. Mr. Hague reimbursed him in cash. Mr. Hague
personally paid one of the contractors $600 in cash for some
extra work.
In 1927 Mr. Hague acquired thirty-four shares of Trust
Company of New Jersey stock for which he paid $10,150, and
later in the same year thirty-four shares of stock in the same
bank for which he paid $13,676. In June, 1928, he purchased
one hundred and thirty-four shares of the same bank stock for
which he paid $13,500.
These transactions total $392,910.50.... (Report, Senate Journal, 1929, pp. 1142-1144.)
This Web version, edited by GET NJ, COPYRIGHT 2003
Mr. Hague has been a member of the City Commission since
1913 and has been mayor since 1917. His highest salary has
been $3000 per annum. He testified that he has had no other
gainful occupation.
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