The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-10-10
SUBPOENA OUT FOR SCHVAB.
MAX PAM ALREADY HAS ONE TO
TELL ABOUT SHIPYARD DEAL.
He. Says Maurice Untermyer. Was Head Of
the whole Outht"-Can't Find Schwsb
to Serve Hin,-Said 10 BE in the Ad.
irOndack s--Nlay subpoena Perkins, Too.

to Serve Him-Said TO BE In the Al.
irOndacks-Nia Subpoena Perkins, Too.
Max Pam, 1t was learned yesterday, was
subperaed on Thursday TO appear at the
hearing next Tuesday Of the suit brought
by some first mort gage bondhocers for
the appointment of a permanent receiver
for the United States Shiphuihing Com
rany Samuel Untermyer, counsel for the
protective 90 nmittee of bondholders OF
the Shipbuilding Company, said yesterday
that he lai not been able to subpoena
Charles NJ Schwab, though he had been
endeavoring to do so.
son Sept 81" said Mr.. Untermyer, i
wrote letter to Mr.. Schwab, asking where
he could be found, and was promised later
by Mex Fam, his counsel, that Mr.. Schwab
would attend without suhppra. Mr.. Pam
has not produced him, and we cannot fird
Mr.. Schwab. We have made repeated
efforts 10 fird him by making inquiries at
his Office, and have not succeeded.
Mr.. Untermyer remarked, incidentally,
that he looked upon Mr. Pam az "the head
of the whole outfit" II was learned that
it is also proposed by Mr. Untermyer to
have a subpoena served on George W.
Perkins Of j. P. Morgan d Co. Mr.. Perkil S
said yesterday afternoon that he was quite
wiingt to be subpBnaed, but had not been
yet. He has arranged to leave this city on
Sunday with a party Of officers of the United
States Steel Corporation, who are to make
tour OF irsEectiOn in the different plants of
the Steei G ,rIora, ion !, but he said yesterday
that he expected to be AWAY Only four or
Ave days at the longest
A representative Of Mr.. Schwab said yes
terday that he had not seen him for two
weeks 1t could not be learned positively
where Mr.. Schwab is, but there was report
that he is in the Adirondacks with his wife,
who il ill.,
Henry Wollman, associate counsel with
Mr.. Untermyer made statement yesterday
regarding the way by which he said Mr..
Schwab was to control the Shipbuilding
Company. Mr.. Schwab, he asserted, re-
oeived Of the e45,OOO,oOO of capital stock
Of the company Sl0,000,OOO Of preferred
stock.
AS this made total of only $40, 00O, 900,
or less than majority" said Mr.. Wollman,
1T was arranged that he should get $40 ,000,-
600 Of bonds which would have voting
power"
Mr.. wollman had prepared typewriter
ering the voting power Of the bonds. 1t
reads as follows:
Section I. The trustee, for and on behalf
OF the holders Of the bonds outstanding here.
under at any, time, shall have the right. pdri
pas,u With the holders Of the capital stock
such bonds at all meetings OF the stockholders
in the same manner and to the same extent
all n e se Of
amount Sne 81 the bonds ssaea AND ousandnF
hereunder, IL being intended that for each
harnundpr
at any time the trustee shall have the same
voting power as If it were the registered
tai stock Of the Shipbullding Company. and.
for voting purposes. the determination of a
quorum, and the taking Of any action which.
BY laws Of the Shipbuilding Company. shall
require the vote or consent of a particular
proportion of the stockholders Of. the Ship
Of ths shpbnRdSs e os snail Be- ScoH
value Of It's outstanding preferred and com
issued and outstanding hereunder. The
voting power hereby conferred upon the
NAY a oer oosrs
or by proxy authorized In writing.
A copy. Of the marketing agreement
between the Trust Company Of the Repub-
lie, Daniel LIE Roy Dresser, Lewis Nixon,
Harris, Gates Il Co. and Mr.. Schwab in re-
gard to the disposal of the shipbuilding
STOCK was given ouI ny
yesterday. The points in tho agreement
were quoted in the testimony in the Ship
building case, and have already been printed
in THE SUN.
CHICAGO, Oct. 9.-In an interview pub
lished here tonight John W. Gates says
that the agreement for marketing the
syndicate Shipbuilding stock was brought
TO him by Charles NJ. Schwab The state
ment that he sold the stock short he charac-
terized as absolutely untrue.
II never made trade In it either way
said Mr.. Gates. 4To this day I own every
share OF this stock and every dollars worth
of these bonds that ever traded in