Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-12-22
they Give INSIDE HISTORY.
At,y. Alexander Happened to be IN
Paris and He Undertook to Remove
False Impressions.
John W. YOUNG WAS INTERESTED.
schwabs Counsel Rastens TO Assure
Examiner He Had Nothing to DO
With the Publication.

Now York, Dec. 22,--Letters and ca
Diagrams which are alleged 10 have
nassed between New York and Paris
IN connection with the United States
shipbuilding underwriting placed in
the French capital are published today
BY the World. Reference TO these com
munications was made recently In the
shlpbuilding hearings before United
States Special Examiner r. B. OIL
phant,while Charles B.Alexander of the
firm Of Alexander & Green, attorneys,
were undergoing examination. The let
ters which were kept secret by agree
nent OF counsel were said TO snow
what methods mad been pursued In or
dor 10 compel the French investors to
meet the calls for money on their un-
derwriting after they had been given
10 understand through q cabegram
sent by the Trust Company of the Re-
public to its agent John w. Young,
that the underwriting was success.
This dispatch gave them the idea that
they only need stand ready 10 receive
their profits as members Of the under
writing syndicate.
ID.
In Paris at the time and to him fell the
duty Of removing the false impression
and holding the signeis of the subscrip-
ton list TO their agreement His Arm
is counsel for the trust company here
which had charge OF the underwriting
and the communications which fill sew
en- columns OF the World. are alleged
to have passed between Mr.. Alexander
and his firm In this city.
CORRESPONDENCE BEGINS,
The alleged correspondence began
July Is. 1902, and In the early stages,
revolyes largely around the investiga-
ton set on foot as to the Responsible.
ty OF those whose signatures had been
secured In Paris to the underwriting
agreement which was then In the care
Of the Bank de Roma. Baron Calvet
Rognlat and Mr.. Schreyer, banker.
were the heaviest subscribers. While
both were much disappointed over the
Misunderstanding as to the success OF
the underwriting here, they were stated
TO stand ready to pay their shares. FL
naly the situation apparently had been
explained to the satisfaction OF every
one and preparations were made for the
first call upon the underwriters July %
FOR % per cent of the subscription, to
be followed by the second, payable Aug.
], for the same amount.
MORGAN, HARRIS g. co.
Then came the exciting portion Of the
correspondence. The banking house of
Morgan, Hnrjes e. Company had been
selected to receive payments to be ca
bled at once to the Mercantile Trust
company OF New York. but the sub
scribers had not come forward on July
%, to which day the payments had been
postponed, and on July 2S a letter stat
ed that Mr.. Alexander had changed his
tone with regard to the situation, The
writer Is quoted:
While II may be true that these un-
derwrlters We're not treated properly
by Young In leaving them under the
impression for 40 long n time that all
the bonds had been sold, yet that has
oeen well atoned for by the patience
sho care with which we have In the last
week given explanation after expana-
Won TO all parties, They are now all
u default from the 25th and have told
vppenheim TO notify each one that
,nelr Individual liability in case that
money Is not In New York in time TO
make the payment will not be limited
70 me amount OF their securities but
mat there will be consequential dam
Eyes 70 every party connected with the
affair"
YOUNG HAITI is CRITICISED.
me letter criticised severely in a
tosWtipt the Impressions said to have
NJ MI thrown out by the younger Harjes
nr a9 was reported 20 be very much
pIeludlced against the whole affair and
htf sh.a lat AaN
,nere was no market In New York for
NE ne ponds The writer adds that he saw
,tafJeS AZ once and threatened to turn
sI CIV account over TO the Credit Lyon
IN ana thereupon Harjes agreed TO
eletytnlng good he could about the
'so"nel or the company and the af-
me-. Tvs through other sources also
oot e made, according TO letters and
ssoegrams quoted TO counteract the
stt OF various reports circulated as
u,., tne impending collapse OF the under
''""ie scheme In New York.
ALEXANDER QUOTED.
an IN one Of the letters from Paris adj
Au TO Alexander e. Green Mr..
"f H'luer IL quoted as follows
nao,nlng can he done in the wav of nss
osSuhg the underwriters here 10 dispose
s o. their bonds unless they frankly come Come
maj, nl when notified acknowledge
man, 'Mrntv and make their FIRST pay
tds sam when all hands viii unite in en-.
wl sb ~ TO sell any bonds they may
a FAIR CLIENT.
mo me IN ylcomtcsse Dandignea sat by
OF sun er last night. She had some
had IVot,S Union Iron Works stock and
eSeeS 5,Ss teIegraphed refusing to sell Il
PERSUADED her that II wo1ld ne ', nood
t 10 bar not to stand but | suggested
her m u,at perhaps Scott would make
COMM con Sn o., Oner In the securities of the new
be atiray which will be good enough 10
A. 'he trouble of investing the moneys
sue may receive" ~ '"e money
FUNDS OF THE POPE.
InOfhaV l.4l