The San Francisco call., 1903-12-23

be limited to the amount of his Sc
curities. but that there will be conse-
quential damages to every party con-
nected with the affair"
BRINGS HARJEs TO TIME.
The letter criticized severely. in a
postscript, the impressions said to have
been thrown out by the younger Har-
.jes, who was reported to be very much
prejudiced against the whole affair, and
1T was said by the cashier that
there was no market in New York for
the bonds. The writer addsr that he
saw Harjes at once and threatened TO
turn the account over to the Credit
Lyonafse, and thereupon Harjes agreed
to tell everything good he could about
the personnel of the company and the
ana<. Efforts through other sources
also were made, according to letters
ana icablegrams quoted, to counteract
the effect of various reports circulated
as TO the impending collapse of the
underwriting scheme in New York.
In one Of the letters from Paris ad-
dressed to Alexander & Green, Alex
I constantly say to all parties that
nothing can be done in the way of as
sisting the underwriters here to dispose
Of their bonds unless they frankly come
forward, when notified. acknowledge
their liability and make their first pay
meHt, when aIlshands will unite insen-
deavoring to sell any bonds they may
wish to dispose of.
The Nicomtesse Dandignea sat by
me at dinner last night. She had some
OF. Scott's Union Iron Works stock and
had just telegraphed refusing to sell it
except for a higher price. I think I
persuaded her that il would be good
judgment not to stand, but I suggested
TO her that, perhaps, Scott would make
her an offer in the securities Of the new
company which will be good enough to
be attractive, as one of her difficulties
is the trouble of investing the money
she may receive"
TELLS OF PLEDGE BY MORGAN.
In another letter, dated July II, 1902,
signed by Alexander, the statement is
made that in investigating the Bank
de Roma the writer learned that the
Pope had $4,000, 600 in that bank; that
he had a similar sum with the Roths-
childs and about the same amount in
England.
According to the World, ''Drexels"
was used in the correspondence to rep
resent Morgan, Harjes & Co., and in
one of the letters credited to Alexander
appears the following:
Il got a pledge from the Drexels
that everything good should be said of
the enterprise"
One of the French underwriters was
named Schreyer. and the following
reference was made to him in one of
the letters:
Il hear he has 81, ,oOO,OOO belonging to
one old woman to invest at his discre-
ton"
In this same letter there is also this
statement:
L have caused it to be known that
a leading English banker has told me
that I would get S1,OO0,OO0 in twenty
four hours-which is true, of course"
Another passage in this letter says:
Il get down here every morning at
9 o'clock and am hereras late at $780, 7
drive these men with all the energy
which Mr.. Hyde might have shown in
the early days of the Equitable, and
they drive, I am bound to say very
well. 1 am delighted with the Open
helms. 1 have yet to find them fail in
being absolutely true and accurate. I
am glad to hear they are getting out
of their trouble, and that they are like
ly to receive, now that the British are
on tick about $75o,0Oo"
YOUNG A MERE PROMOTER"
A letter dated July 2s sets forth that
the situation had changed, and that
the writer had notified Oppenheim that
all the French investors would be held
to their individual liability. A post
script TO this letter reads thus:
"P. S.-Since writing the above Rog-
Mat Zone of the underwriters) came in
in a greet state of excitement and said
that he had been to see -Harjes and
asked whether they knew anything
about the business; that he was accom-
panied by a man who spoke English
and he listened; that the cashier did
everything he could to speak badly
about the business. and said there were
no quotations for the securities in New
York. and that they did not want TO
have anything to do with it, although
they would receive the money for it,
Rogniat was very indignant and came
TO me.
II saw Harjes, who said that he had
very much prejudice against the af-
fair since seeing Young. 1 became very
indignant and said that 1 had not in
troduced Young; that he was mere
promoter, such as Mr.. Morgan con-
stantly used in New York; said Rog-
Mat was the man, and that Rogniat
told me this very day he would pay up
the entire call, irrespective of whether
there were any defaults
WANTS A CORDIAL" MESSAGE.
In the correspondence is included the
following cablegram:
PARIS, July 2s, 2.-MacCook,
New York: Have Morgans wire Har-
jes. Take cordial view of affair. Say
properties valuable. personnel fine.
Rogniat just told me will pay for u.-
derwriters who may default, but wants
those paying Harjes encouraged. Have
read riot act Harjes to-day. Report
quick BEATTY"
MacCook, the World says, was the
cable address of Alexander, and Green