New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-12-18

1902 sent to the Paris house? Al do not know
| of my own knowledge the circumstances unuer
which that message was sent
| Mr. Steele said that he was not informed as to
| the way in which the shF 900 of stock Of the
shipbuilding company was to be apportioned.
except that he knew Mr.. Schwab was to receive
| $4,000 900 of the stock. There had been no talk
with Mr. Schwab he said. as TO Mr.. Schwab's
control of the shipbudng company. Mr.. Steele
said he thought the shipbuilding stock was valu-
able at the time of the sale of the Bethlehem
stock II thought the common stock would pay
dividends right away" he said.
TALKED OF THE GATES AGREEMENT.
Some time after the sale OF the Bethlehem
stock he said, he had two talks with Charles
Gates regarding the Harris, Gates &c Co. agree
ment. At the time Of the delivery OF the 3d.
100000 of shipbuilding stock to ]. P. Morgan q
Co. Mr.. Steele said, he was told by Mr.. Schwab.
Mr. Pam, Mr. Wrenn or Mr.. Gates-he could not
remember which one-about the agreement by
which that stock and Mr. Schwab's stock were
to be sold before other stock in the pool was
sold and he was asked II he wanted to take
advantage of the agreement. He said then that
he did not want to embarrass the situation by
having the steel syndicates stock treated as Mr.
Schwab's stock was to be treated He still
thought that the stock was too valuable to be
sold at so for the preferred and % for the COM
mon. When Charles Gates called on him and
asked him for a letter to show that the stock
was to be sold under the agreement he said he
told Mr.. Gates such a letter was not needed.
He wanted to be understood that the stock was
not to be sold under the agreement.
IF 1 misled Mr.. Gates. I'm sorry he said
II thought it was very clearly understood that
we had not given authority. The subject did
not come up again until it brought out at
the hearing in this action. I sure that II Mr.
Gates said he had such understanding he
thought he had. I quite sure he was very
sincere about it,
Mr.. Guthrie objected. and Mr. Untermyer re-
minded him that Mr.. Steele had volunteered the
statement.
Il understand it," said Mr.. Steele IT felt
that should like this to be made clear"
Q;-You know. that Mr. Gates claims that he had
authority to dispose OF the Morgan stock under
Bd yon speak to 90 M schwab about tb,
agreement? Al don't recollect. think he
Qi-Who did YOU understand was agreeing to deal
IN n nd j. r. I'M morgan q Co.'S stock Al didn't under
one was authorized to 90 3d.
stock? A-As 1 understand. 1T not inteaded
about the sale Of the stock A--That recital was
Odd not Mr.. schwab tell you it was part of
the deaIf Ale did not tell me. sure of
c. B. ALEXANDER TESTIFIES.
There was no cross-examination of Mr.. Steele,
and Mr. Untermyer called as the next witness
Charles B. Alexander, Of the law firm OF Alex
ander & Green. in attempt to get the
record messages which passed between
MIR. Alexander and members of his firm on July
% and 80, when Mr.. Alexander was in Paris
trying to collect the French underwriting for
shipbuilding bonds which Mr.. Young had ar
ranged for. The cable messages from New-York
were signed "Maccook,'' and those from Paris
were signed Beatty" Mr. Alexander said he
had with him copies Of the cable messages
mentioned in the subpoena which had been
served or him, but he refused to produce them
on the ground that they were privileged, at the
same time asking that the court be asked to
rule on the question to their admission
| evidence. He said that copies Of some such
| nrivileged communications had been given TO
Mr. Dresser. as president of the Trust Com
pany OF the Republic. at the request of client.
Mr.. Young
| Mr. Alexander identified letter to which his
signature had been affixed, which had accom-