New-York tribune., 1903-07-14
RECEIVER ENDS LEASES.
Noe Controls Y. S. ShipbmJding
Company Subsidiary Plants.

A. long conference was held yesterday after
noon at the offices of the United States Ship
building Company between the receiver, ex-Sen-
ator James Smith, jr, and counsel. report
that d. lie Roy Dresser had been present was
denied by ex-senator Smith. who said that the
conference was merely of a series which
have been taking place recently in regard to the
various legal phases Of the receivership.
Ex-senator Smith announced that on Thurs
day he had signed an order terminating the
leases of the subsidiary shipbuildng plants In
the organization Of the United States Shipbuild-
ing Company. he explained the properties of
the subsidiary companies had been acquired by
the former corporation and then leased back to
the several subsidiary companies for one year,
with a proviso by which the leases might be
terminated at five days notice by the parent
company. The properties were leased upon a
rental TO consist of the earnings of the plants.
To get control Of the properties, the receiver
has terminated these leases. The order, the re-
'ceiver stated. did not include the Bethlehem
steel plant
'The Bethlehem Steel Company does not stand.
then, on a par with the other subsidiary COM
panies?- asked.
well, we don't know yet" answered the re-
.ceiver. Even the lawyers seem in doubt about
that"
Referring to the statement issued on Saturday
by Sullivan & Cromwell, counsel for the Sheldon
Bodybuilding Company, in which statement
Judge Putnam, of the United States Circuit
Court at Portland, Me, reported to have
said, when asked by the complainant, Roland
r. Conklin, and the receiver ex-senator Smith,
for the appointment Of Mr.. Smith as ancillary
receiver in that district that he would not make
an order appointing a receiver or extending the
receivership under any circumstances except
upon a public hearing and after eight days
notice, Samuel Untermyer, Of counsel for the
complainants, gave out yesterday the following
statement:
There was no refusal TO appoint receiver. The
facts have been misstated Receivers have, IN
fact, been appointed in Delaware and Connecticut.
Judge Putnam. in Maine decided only that he would
require notice OF the application 10 be given as IS
sAS CSStVI I1S iAo SIte51
rected that notice be published IN the NeW-f ork
papers. and viii hear the application on TUESDAY
Of next week. The statements Of Messrs Sullivan
and Cromwell on this subject are inaccurate.
No comment upon Mr.. Untermyer's statement
could be obtained at the Office of Sullivan &
Cromwell
The United States Shipbuilding Company's
subsidiary concerns in the State Of Maine. for
which ancillary receivership was denied, are the
Bath Iron Works Limited and the Hyde Wind
lass Company, also cf Bath
wilmington. Del. July 13.-In the United
States Circuit Court to-day ex-senator James
Smith jr took the oath before Judge Bradford
as receiver Of the United States Shipbuding
Company for the district OF Delaware and gave
$4,000 bonds the American Surety Company,
Of New-York being surety. He al once assumed
his duties as receiver Of the local plant former
ly the establishment of the Harlan & Hollings-
worth Company