New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-24
ly I would have put tho company on good basis
II had got the money there would have been nc
HE

II had got the money there would have been ne
trouble.
Then owed the questions by Mr.. Guthrie.
which seemed to outline the answer Mr. Schwab
is TO make to the charge of wrecking the ship
building company. leading to the somewhat
dramatic close of the days session.
Mr.. Schwab. who remained to the close of the
session. declined TO talk about His statement of
the previous day that he wanted to give his
testimony because his wife was i'll. and
he would not talk about the dispatch which had
been sent from Altoona. Penn. saying Mrs.
Schwab was seriously i'll at her home i'm Loretta,
although the following Associated Press dis
patch was brought his attention:
Loretta. Penn. Oct. 2S-Mrs Charles NJ. Schwab
sentative OF The Associated Press that the report
her suffering from appendicitis was unfounded.
Mrs. Schwah said she was enjoying excellent health
and seemed to be IN fine spirits
Ii was the understanding at the hearing
yesterday that Mr.. Schwab would go to Loretta
for weeks stay. When the hearing was sus-
pended in the afternoon Mr. Guthrie announced
that by understanding with Mr.. Untermyer
the hearing would so over to Monday, November
=, at II a. m
MIR. SCHwAB TO TESTIFY LATER.
Mr.. Untermyer has intmated that he will not
cali Mr.. Schwab to testify until John w. Young,
the promoter OF the shipbuilding company. and
several other witnesses have been heard. He
has intinated. too. that he does not intend TO
call ]. p Morgan. but that Mr.. Perkins of Mr..
Morgan's firm will be expected TO tell all Mr..
Morgan could say about the promotion of the
shipbuiiding company and the sale of the Beth
lehem property
1t is believed that when Mr. SchWab goes on
the witness stand he will be asked to give the
cable messages which passed between him and
Mr.. Morgan regarding the Bethlehem sale. and
tell 20 what extent Mr.. Morgan was interested
I'm the Bethlehem property. This. il is believed.
will be demanded by Mr.. Untermyer in exam
lining Mr.. Schwab about the deal by which Mr..
Schwab got $10.O00,OO0 in bonds and S10.o00,oo0
Of each kind OF shlpbulding stock.
MR.. sCHwAB AS CO-COMPLAINANT
Through an order granted in chambers in the
Federal Building late yesterday afternoon
Charles NJ. Schwab received leave to intervene
as complainant in the action recently begun
in the federal courts by the New-York Security
and Trust Company against the United States
Shipbullding Company and James Smith, jr as
receiver OF the United States Shipbuilding Com
pany. The defendants at the same time were
allowed TO file an amended answer and cross
bill, and leave granted TO Roland r. Con-
kiln, Max Nathan. Jacob w. Mack and James
ID. Mcguire TO intervene as defendants
The motion not made yesterday when
the regular motion calendar was called in the
public courtroom, which lasted only half an
hour, but, 10 suit convenience of counsel. it was
said. made shortly before O'Clock in the
chambers Of Judge LacOmbe. Mr.. Schwab was
represented by Mr. De Fere. of the firm Of
Guthrie, Cravath & Henderson. Mr.. Byrne rep
resented the plaintiff New-York Security and
info Of no
building company and its receiver, James Smith,
jr., were looked after by Mr.. Marshall of the
firm of Guggenheimer, Untermyer & Marshall
Mr.. De Fere explained TO Judge Lacombe that
the issues OF the action were such that MI
Schwab should properly be a complainant, the
answer OF the defendants containing allegations
of such q character that Mr.. Schwab should in
all fairness have the opportunity TO come in ana
show his position. Mr.. Marshall made slight OBJ
lection TO Mr. Schwab being permitted TO come
in as a complainant, provided the defendants
were allowed to file amended answer and
cross bill, and Messrs Conkiin. Nathan MaoS
ana Mcguire had permission. as creditors ana
stockholders of the shpbuilding company TO
intervene defendants.
After hearing the arguments of counsel Judge
Lacombe granted the order for MIR. Schwab to
intervene as a accompaniment without prejudice
TO the proceedings already mad and that the title
to the bill of complaint and other papers should
be deemed amended fully to all intents and
purposes as if Mr.. Schwab had been party
complainant at the time OF the filing OF the bill.
The order also gives Mr. Schwab permission
to ltigate all of the issues presented in the case
on the condition that the defendants have leave
TO file within thirty days an amended answer
and cross bill either with leave to the New
York Security and Trust Company, and Mr..
Schvab to file plea ding5 to any Such amended
answer or cross bill as they may be advised.
The order also stayed all further proceedings
until the expiration Of the time for the filing OF
the answer and cross bill The four sharehOld-
ers of the shipbuiding company have leave TO
intervene as defendants, and are allowed to
serve an answer TO the bill OF complaint within
thirty days from the entry of the order. also
without prejudice to all previous proceedings