The Montgomery advertiser., 1903-12-09
PERKINS IS WITNESS
WITH sHrPBUILD-
 ING UAsaPANY.
Says Pam, Nixon and Dresser Cane to Morgan and Company for Noney-Aaxon Finishes
 His Evidence.


 New York, Dec. s.--At the hearing in the United states ShipDuiIding receiver ship proceedings todzy, Lewis Nixon, pied the stand for some time. concluded his testimony and was followed hy George W, Perkins. who gave the story of the connection Of Morgan and Company with the shipbuilding fiotation.
 His testimony on direct examination went to show that Morgan and Compauy's connection with the shipbuilding company consisted of supplying trust money to loan ef the BethIahsm plant. The defence made strong effoTts to keep certain cahIegrams and letters barring on the French underwriting from being pulp lisaed and ak the close of the hearing Mir. Guthrie pocketed the copy of one letter. the newspaper men being unable to ob-, tain ts.
 Mfr. Perkins took the stand after re- cess to testify to the connection of the firm of J. F. Morgan and Company with the purchase of the Bethlehem stock and the N.5s0.ooo loan for that purpose.
 "What was your first connection with the United States shipbuiiding Com- paryf' be was asked.
 '1tgot until after it was closed up. had no knowlsdHs before August, 1goz. except as we had talked 1t over in the firm In August, 1902. Mir. Perkins said. he was approached by Mr. Pam. Mfr. Nfxca and Mir. Dresser, who wished to obtain from Morgan and Company loan for the sh1pbuilding company, Mfr. Dresser rep resenting to him August n that Q large amount of the shipbufiding securities had been underwritten in France. that the money would arrive in c week or ten days but that funds were needed for the com pany at once Mir. Perkins said he de- clined. but next day after another con |versation with Mr. Dresser on behalf of his firm, agreed to doposit $750.ooo in each of three trust companies. Ills company made no attempt through its Paris hoise to ascertain the standing of the Paris ur- derwtiters. had no knowledge that the money had been arranged for aside rum DresseF's statement and did not know what arrangements Mfr. Dresser made for borrowing the money from the trust com panies, considering these things Of iti- terest to the trust companies and not to Morgan and Company. At no time. said Mr. Perkins. was he informed that the Paris underwriting had failed Morgan & Ca. were willing to aid the shipbuiIding company to this extent, he said, because the existence of the ship building company would Do advantageous to the United States Steel Corporation and because of the sale of the Bethle- hem plant had been represented to Mor- gan & Company by Mir. Schwab as htghlV desirable arrangement for the steel company. Tlle.Paris branch of Nor gan & Company. he said, had no oonnecs tion with the French underwriting. Mir. Untermeyer pressed him with ures- tIons about the knowledge Morgan q Company had of the French underwrit- ing and of the security upon which Mir. Dresser obtained the money from the trust companies. but MT. Perkins insist- cd these were details fin which his com pany was not concerned.
 The transaction for the Bethlehem plant. he said. was closed in his office but he was not present Morgan & Com pany. owning the Bethlehem plant as syndicate managers. received in payment for 1t the N,25e.000 and s2.6OO.0O0 of each kind of stock This stock. 1t was brought out, was sold to Mir. Schwab for S75,Oo0. on May g. 1898. Mir. Perkins was then asked about a cablegram sent by him to the Paris house. Morgan, HarJes 6 Company, July 90. 1902.
 The defence made strong objections to it's being received, protested against pub Iicfty being given 1t and made a formal request that 1t be withheld from the news. papers, following the same course with reference to the letter received in an- swer. Mir McCook of Alexander & Green. Mfr. Perkins. said. had requested several times that he cable to Morgan, Harjee and Company, some represen- tation that would aid the French underwriting and he had finally con- scented to send a cablegram which he worded as follows:
 "C. M Schwab, and his friends are interested fin the new shipbullding com pany here, and will be very glad to have you take as cordial view of 1t as is con- sistent."
 Mfr. Perkins produced the letter receiv- ed in reply to this one, Aug. F. It was introduced as evidence and copy left with the stenographer. Mir. Perkins re- tatning the original. but the hearing clos ed at this point. Mir. Guthrie pocketed the copy and took it away.
 Mr. Perkins will continue his testimony tomorrow.