New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-12-09
S5,OOO,OOO FOR $4,000.
Continued from first page.
thing we were keeping out of all the time. Mr..
Untermyer We simply placed the money.
DEAL, FOLLOWED THREE LOANS.

then that the money had been obtained by Mr.;
heeessy follow that the money hSd been PAID
Q.-Then. as understand you. In helping out this
merely on the assurance OF Nj Dresser that the
yon put n that Nav The suggestion was made
that we deposit the money. and We saw no objec-
DID the firm OF }, P. Morgan & Go. or any Of
sbipbuiIding company except the SCI 10000 of pre-
ferrea and s. 10000 Of common stock, which you
took as syndicate managers for the Steel Syndi-
o.-And that 100000 Of stock was in consideEa-
$4,000 in cash which furnished by Mr..
o-Dd you know that Mr. schwab was getting
100000 in bonds and S2OOoOooo in stock? A-No
ayers undertook to sell the Bethlehem for 81 900
you know what M schwab was getting. Ave
did not undertake 10 sell. Mr. Schwab came with
Pd you afsrwaF s sell ySSF s s6iRsd soE
Mr.. Untermyer asked Mr.. Perkins if he had
sent cable message to the Paris house OF
Morgan Harjes & Co., about July 2S. 1902,
about the shipbuilding company. and Mr. Per
kns said he had producing the translation Of
message which he said had been sent in cipher.
He said the message had been sent at the re-
quest Of Colonel ]. J. McCook, of Alexander &
Green, and he seemed anxious to have it placed
IN evidence. but William d. Guthrie represent
ing the shipbuiding company. made emphatic
reading OF the message postponed until the
court had passed upon the question OF admit
ting il in evidence, but Mr.. Perkins read it
follows:
c. NJ sehwab and his friends are interested in the
new shiP6giding COMPANY here: and Etll be glad
sistent.
Mr. McCook had asked me several times to
send a message 10 our Paris house, Mr.. Per-
kns said, but / declined. saying we did not
want 10 have any interest in the shipbuilding
company, but he came in again and urged the
matter. and I said I would think it over
sent the message"
Did you receive a reply from the Paris
house?" Mr.. Untermyer asked.
We received a letter." Mr.. Perkins said, pro-
dueing the original which he said was dated
on July 80 1862, and had been marked as being
received in the New-YorlI Office on August u.
but which he had not seen until recently. He
said he thought Mr. Steele. of the firm, had seen
il earlier Mr.. Steele had been acting for the
firm in the Bethlehem negotiations.
Mr. Guthrie objected vigorously TO the plac-
ing OF the letter in evidence. and asked that it's
publication be delayed until the court had
passed the question of admitting it, and as
copy was offered to be marked for Identified
ton, he protested against its use. Mr.. Inter
myer suspended the hearing at that point until
of the letter in his pocket and buttoned his coat
over il, declining to let reporters see it. Mr..
Stetson took possession Of the original letter in
the same way and Mr.. Untermyer said he was
satisfied to have the publication of the letter de-
ferred until the court had decided TO admit it as
evidence
Mr. Untermyer told Mr. Perkins that he would
not keep him long in the witness chair this
morning. but Mr.. Guthrie Will want TO cross-ex-
, anime him.
Y Before Mr. Perkins went on the stand in the
afternoon Mr.. Untermyer tried TO get on the
record three cable messages which had passed.
he said between c. B. Alexander and Colonel
McCook. members Of the firm OF Alexander
Green. at the time Mr.. Alexander was in Paris
trying 10 get the French underwriting.
Mr.. Guthrie objected angrily to the tactics Of
Mr. Untermyer, refusing to admit that the mes
sages ever had been received by Alexander &
Green, and declaring that they could not con-
sent TO aid indirectly in the publication of pri-
waite and privileged messages. Mr.. Guthrie
asked Mr Untermyer TO prevent the publication
Of the messages until the court had ruled on
them, and Mr.. Untermyer replied:
This comes with bad grace from you recali
that you have given to the press letters which
have not even been offered in evidence"
your statement is absolutely untrue" Mr..
Guthrie retorted.
Later Mr.. Cnternyer said the messages would
not go on the record until the court had ad-
mitted them evidence
MAX PAM WAS TO GET 100000 STOCK.
The morning session of the hearing was taken
up with the end of Lewis Nixon's testimony.
Between long APPOINTMENTS Mr.. Nixon had been
in the witness chair several days, and much Of
his examination and cross-eXanination yester-
day was either repetition OF correction of pre-
tod -avfTaer
Untermyers questions his declarations that the
shipbunGng company would have continued
business II il had received the earnings of the
Bethlehem plant TO pay interest on the first
mortgage bonds. and that one reason for the
collapse Of the company was the loss of credit
caused by the default Of interest on the bonds.
Mr.. Nixon said that the earnings Of the Union
Iron Works during the last year about
$4,000, mostly since January ] of this year.
He said the account OF the shipbuilding COM
pany had been taken away from the Trust Com
pany Of the Republic. but he could not remem-
her any resolution Of the directors ordering such
a change
In the re-cross-examination G c. Deming
asked many questions OF Mr.. Nixon the replies
10 which showed that the terms OF John w
Youngs offer were long under discussion by the
men interested in the formation Of the ship
building company before they were accepted.
Mr.. Nixon told OF a conversation he and Mr.
Dresser and Mr.. Pam had in which Mr. Pam
said regarding compensation for his services
that he felt he should charge MIR. Schwab for
his services up TO a certain time, and that from
that time on the company should pay him
Mr.. Dresser then said" continued the witness
that, as il arranged for Mr. Pam TO re-
-oeive 81 100000 in common stock, he thought
that ought TO be enough. Mr.. Pam agreed to
this So far IS I know. Mr. Pam has never re-