The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-06-16
SCHWAB WANTS BETHLEHEM.
FORMAL OFFER TO GIVE UP SHIP.
YARD SECURITIES FOR 1T
Addressed to Lawyer Untermyer, Who
Had Expressed Doubts Of His Sin.
cerity-Untermyer Has . Scale-DOwn
Idea-Nixon's Last Days a. President.

IL
Ida.-N,xor,. Les, u.v, "A President
rh.u, ~ o.L.. .,.a ..ho. .n,.,-.,,
Charle6 M. Schwap called what appeared
to be a bluff of his opponents vest erday
in tho matter NJ tho souahble over the
WV "V' " .o IN, 60, ~,
'el,hye,' coui'se' 'or 'nllio.y y. VIC
doubts Of the sincerity of Mr.. schwab'.
oSs. -, 49,. p..hiohan, S,.o,
oner 10 take pacK the ne.h'e,enl oleol
securities for which he sold it to the COM
eeouiee 10. WHICH, ne eoa =. w ~. ,o..".
pany Mr., schwaD was preparing 'nlS le''er
Es,,.. T.L IN,
,on"nh 90 a., 'ow io'" ."y
to tho press on saturday afternoon, stated,
anon, o,har th;nns that 7 horetofore in.
u..ols otnei ui'.ss, .,.,,,, me. .,,.Sonae ~,
.hs ho nda am now w eos,ved hv ms
j. P. Morgan Co. for and on account OF
the capital stock of the Bethlehem Steel
Company. upon delivery to me OF the shares
of stock of the bethlehem Steel Company.
ment from WI, 70 the effect that Won doubted
.ne e'roeluS VI III. p.' .sno". 1 ~ o mi y.
were i serious IN tnat Iespec. ana "l,'Ihs
SO eeersa na cancel tine % .bat
7 could he accommodated. no doubt, without
,o, .o",' '' ACKNOWLEDGEMENT
FROM your statenen!, assume, OF course
snnt You are IN bnSo 70 sspsa o Ine de.
soiute anu uhCohol,iuiIi w ~ an "
livery TO me Of the capital stock OF the BethIe-
mem steel COMPANY .,,. ia
ihat peing 30, anu ;t VA, s ond may pe ny
ny present. oner WIZ, sd 20 Sod tliae up4 ~
the absolute ana nnconaitlo,ha ueMveIy 70
me o. the aei q r,n nnw s'o paN
posted with the New YORK security ana
Trust Company under the lnorteaKe., ! WIZ
nave made an aosoau nao ana 9hSon ndS nnd
surrender OF the ,sloooUm" on ppnds mld
SuoNo'o00 OF ear1 kaho o. s.ock Oh tne ILL.,. u,a
States shipbuildnS Company . which ~ were
received oy me ana y. r. MCrgah 70, on
account Of the capital stock of the Bethlehem
Steel Com pany. , 40,
nGPe you VIII Ds n aRie 20 r. %odars W ths
frst ,mnrtrave bonds and stocks issued on
account of the Shipbuilding plants to promptly
and successfully adjust their affairs. Re-
spectfully yours e. NJ. ScHwAB.
NEW YORK, june 10
MIR. Untermyer had gone to Boston when
the letter got to the newspapers. Before
eGng he had 0nE ri.
ton to MIR. Schwab:
Va has second mortgage on the steel
works Subject to 50 ooo. Oh. and second
mortgage or the shipysrds plants subject
thesle oonl oon The shipyards can get along
very well without steel works. re says
liey dla nov @ is >, eeI me CAMEL
se's M n;,h,t Ply ~. ' sbjn,.arTs mn,ess bs
wan H'1 ~ co into the market in conpetition
With whh'' the he great corporation of which he is
president . ,.,
Let him scale his $40 900 90, second mort.
gage and the shipyards Domonoiiers a. scale ,s
tnn,r a w., ST hoth cs sses
,e cen, hnu ~ ~ .r CENT ~ his ho,dines
in new consolidated mortgage bonds That
will furnish the requisite new capital and
would reduce the fixed charges to $1,000 900
year. Both classes OF bohohoiuets inigHt
take pfetsrrdt s, Ud 'nr o rn ,beral allowance
M oo tc IN than n, nrese Mt pronoseI
to give them be made to the existing pre-
ferred and common stockholders. Such an
arrangement whilst not entirely just to the