The San Francisco call., 1903-12-20
SHIP MAGNATES'
LETTERS AMUSE
Correspondence introduced in
Course of the Investigation
Pleases the Audience Greatly
YOUNG NOT WHOLE THING
Evidence Shows That an I'm
mense Sum Was Raised to
Subsidize the French Press

NEW YORK, Dec. 19.-When the
hearing in the United States shipbuild-
ing receivershiD case was resumed
yesterday Untermyer continued his
examination of Charles B. Alexander
of the firm Of Alexander & Green. 1t
is recognized by counsel that the hear
ing will extend we'll into next year,
Untermyer saying that he has num-
Der of witnesses yet to call in addi-
ton to Schwab, Pam and John w.
Young before the defense begins to
present It's case.
The hearing opened with tilt be-
tween Guthrie and Untermyer, Guthrie
rising to state for Alexander that none
of the cablegrams which he sent from
abroad during the summer of 1902 In
regard to the selling of securities re-
ferred to shipbuilding, and that If I'm
termyer desired to 'pry into Alexan-
der's private business affairs" the ca
Diagrams would be opened to his in
spection. Untermyer resented the
phrasing of the statement, and the ex-
animation then proceeded.
Untermyer asked if a cable message
in code of July 2S, 1902 directing the
New York office to sell my rights on
nv tomb" referred to shipbuilding
stock. but Alexander insisted that ship
building stock was not his tomb" and
Untermyer augmented the merriment
by asking how tomb was spelled.
The cablegrams in question, over
whose admission in evidence so strong
a fight has been made, came to the
knowledge of complaintant's counsel
through Dresser, but not in such way
that they could be used in evidence
from that source. Alexander continued
his tactics of declining to answer most
questions about correspondence on the
ground that it was privileged. Alexan-
der told at length of the connection OF
his firm and himself with the early at
tempts to form a shipbuilding concern
but parried successfully most of Inter
myers attempts to obtain any impor-
tant sensational testimony about the
final attempt.
The examination continued along the
lines of Alexander's correspondence to
New York from Paris, detailing the
progress of the Paris negotiations, I'm
terInHeI I6dQlnS d HullDSi VI
sions from the letters that entertained
the audience greatly. 1t was brought
out that the attitude of Morgan, Harjes
& Co. unfavorable at first to the ship
building proposition, was changed COM
pletely after the receipt of the July 80
cablegram and from G.. w. Perkins
announcing that Schwab and his
friends were interested and would be
glad of as favorable a view of it as
possible. Harjes, it appeared, had told
Alexander that he had been unfavor-
ably impressed with the shipbuilding
concern because of the character of its
promoter. John w. Young. but Alexan-
der assured him that Young was not
the whole thing" and intimated his
intention of cabling Morgan in New
York that he would make his financial
ARRANGEMENTS with some other house if
the attitude of the Paris branch was
not changed.
1t was brought out that 100000 worth
of shipbuilding securities had been set
aside for the purpose of subsidizing the
French press.
The hearing will be resumed next
Tuesday.