New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-25
bethlehem Steel Company to the shipbuildins
company in part as follows:

bethlehem Steel Company to the shipouildins
company. in part follows:
Whereas J. p Morgan & Co. as syneiicate man man
sscrs are the holders and owners Of ss 80 shares
OF an entire issue of 10000 shares OF the oplaI
ton engaged in the business OF manufacturing an
dealing In iron and steel and the pTooucIs uieO''
Whereas. Said Nixon and Dresser have entered
ID m OF eEsp "a terms OF which they
have the right to purchase AID acquire on o I
stock OF the bethlehem steel company part %. OF
the consideration Of such purchase 2eis ' en- 81
nent to said syndicate managers OF the sun" -
whereas Said nixon and Dresser are DESTROYS
OF securing from said Schwab said sum OF So
246S71 IS cash. required to enable theIn 20 S-ss
Of stock of said Bethlehem steel COMPANY nm an
have asked said Schwab TO purchase lron1 ~ ~
for said OF s7,246s71 as upon and unoeT me
and conditions set forth in this asre
cent twenty year sinking fund gold bonds. 70 Dc
made BY said shpbuilding company tJVo s5 "a -
no I 20 80 - IL isS,,eG Nv said sbipbuiIdag
company: said bonds and stocks TO be in the 1orn
and OF the tenor as shall be SATISFACTORY % SAL
cured in such name and BY such mortgages, trust
deeds or agreements as snail be Satisfactory 90 80
Schwab or his counsel and as was herein agreed
Whereas said schwab is willing to furnish to
said Nixon and Dresser the said sum OF &z4s.s.l =
and purchase thereof said bonds. preferred STOCK
ing company. in accordance with the terms and
conditions OF this agreement now,
Ffrst-sUbiect to strict performance by said Nixon
and Dresser OF each and all the terms. conditions
and agreements herein contained. said Schwa9
Dresser - said entire issue Of slS0oo0oo par value
Of the per cent sinking fund twenty year god
and seventy-hve thousand shares OF the per cent
sI t LuLL PdO an, "a tt-L,IfIti-, cCr
pany and seveDty-ive thousand shares OF the fulI
by said shipbuilding company. and to pay therefor
rne sum OF $500 20 I1I Ine ZIP reensnf
When did you learn that j. P. Morgan & Co..
and not Mr.. Schwab, were the real owners Of
the Bethlehem stock?" Mr.. Untermyer asked
II always assumed that Mr.. Schwab owned
it," Mr.. Nixon replied.
Did you ever learn that Mr.. Schwab was TO
loan you and Mr. Dresser S7,246.s71 IS. with
which to buy the stock Of the Bethlehem com
pany from Morgan & Co. and that FOR doing
this Mr.. schwab was to get 100000 in bonds
and S15.OO0OOO in stock?"
Not until short time ago. when 1 heard Mr..
Dresser say So"
GIVEN TO MORGAN & co. AND SCHwAB.
Mr.. Nixon said that separate receipts for stock
were given by J. P. Morgan Co and Mr..
Schwab. Mr.. Unternyer caused to be placed in
evidence the receipts as follows:
Received from Lewis Nixon and Daniel lie Roy
Dresser certificate No g tor ZOO shares pre-
stock United States shipbuilding Company
J. p. MORGAN & co.
Aug. T. 1902
Received from Lewis Nixon and Daniel lie Roy
Dresser certificate No IS 5000 shares preferred
stock United States Shipbuilding Company and
certificate No. So for 1900 shares common stock
49, 80 q N sCHwAB
Aug. II, 1893 Per Oliver Wren, attorney
Mr.. Nixon said he knew nothing whatever Of
a check Of Harris, Gates & Co for S750OO0
which shown to him and offered in evidence
1t was drawn the Trust Company Of the Re
public Mr.. Nixon said he had never seen 1t be-
fore. He supposed the check was drawn in con-
nection with the raising Of the S1JO0.OoO work.
ing capital for which he and Mr.. Dresser signed
notes. Witness did not remember much about
the transaction, it was deal he did not
engineer. he said.
A copy Of the memorandum Of commitments
left with Mr.. Nixon by Mr.. Young marked
for identification.
Did Mr. Young have an Office connecting with
the offices Of Alexander & Green?' asked Mr.
Untermyer.
II object" exclaimed Mr.. Guthrie 1T is an
attempt to connect Mr.. Young and Alexander &
Green in discreditable way. II is wholly in
defensibIe."