Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-12-19
CLEVER SPARRING
Between Counsel Untermeyer
and Witness Alexander.
Latter Reluctant to Tell Of ShipbuiId.
ing Trust Inner Workings.
Declines to Answer Some Questions
On Stand All Day.

New York. Dec. 1S.-Only a few au-
ditors were present when the hearing
in the United States Shipbuilding pro-
ceedings were resumed here, today,
Mr.. Cntermeyer continuing his examin-
alton of Charles B. Alexander, of the
firm of Alexander & Green. 1t is rec
ognized by counsel that the hearing will
extend we'll into next year, Mr.. Inter-
myer stating that he has a number of
witnesses yet to call in addition to
Messrs. Schwab. Pam and John w.
Young before the defence begins to
present its case.
The hearing opened with tilt be-
tween Messrs. Guthrie and Untermyer,
Mr.. Guthrie rising to state for Mr.. AL
exander tht none of the cablegrams
which he sent from abroad during the
summer of 1902 in regard to selling Sc
curities, referred to Shipbuilding stock
and that if Mr.. Untermyer desired to
''pry into Mr.. Alexander's private bust
ness affairs" the cablegrams would be
opened to his inspection. Mr.. INTER-
myer resented the phrasing of the
statement in sharp terms and the eX-
animation then proceeded.
Mr.. Untermyer asked if cable mes
sage in code of July %, 1902, directing
the New York Office to "sell new rights
on my tomb" referred to Shipbuilding
stock, but Mr.. Alexander insisted that
Shipbuilding stock was not Ibis tomb
and Mr.. Guthrie augmented the merri-
ment by asking how Tomb" was
spelled.
III in, r1JnCfinn
whose admission in evidence so strong
fight has been made, came to the
knowledge of compartments counsel
through Mr.. Dresser, but not in such a
way that could be used as evidence
from that source. Mr.. Alexander con-
tinued his tactics of declining to an
swer most questions about correspond
ence on the ground that it was privi-
legged.
Mr.. Alexander told at length of the
connection of his firm and himself with
the early attempts to form shipbuild-
ing concern. but parted successfully
most of Mr.. Untermyer's attempts to
obtain any important or sensational
testimony about the final attempt.
Mr.. Alexander did not consider that
While in Paris he was trying to secure
French underwriting. He said that
before leaving Paris he ha6 tolC the
French underwriters, from whom less
than $4,000 was obtained, that their
underwriting contracts could be en-
forced. and had conferred with French
attorneys to lay the grounds for a suit
to enforce these contracts underwrit-
ing several million dollars worth of
stock.
Mr.. Unyermyer took up the question
on privilege, asking Mr.. Alexander if
he had ever asked John w. Young, his
client, about testifying the privileged
communication. Mr.. Alexander replied
in the negative.
"As a matter of fact, do you not
know that Mr.. Young is anxious that
you should testify about these privi-
legged communications? Mr.. Inter
myer asked, but Mr.. Alexander had no
such knowledge.
How soon will you be through with
me?' Mr.. Alexander asked when the
recess was announced.
THAT depends on how soon you
make up your mind to answer ques-
tions.'
Baron Rogniat, one of the under
writer's, Mr.. Untermyer ELECTED, had
complained to Mr.. Alexander in Paris,
that John w. Young had deceived him
about the Shipbuilding securities and
has assured him that the issue had
been a success and on that account of
being so deceived, Baron Rogniat de-
cared that he would not fulfil his part
of the agreement.
Mr. Alexander said that he explained
to Baron Rogniat that it was CUSTOM
airy in America to advertise every is
sue of securities ask and then proceed
to sell the securities. Baron Rogniat
complained that he had been made
ridiculous in the eyes of his sub
underwriters by the transaction and
declared that whatever might be the
legal status of the transaction, he was
concerned with the moral aspect of
the affect.
Mr. Alexander thereupon talked with
him about the merits of the Shipbuid-
ing proposition endeavored to assure
him that the company was in good
shape, Notwithstanding the alleged
Misrepresentation, and told him of the |
standing Of the men and properties en-
braced in the proposed consolidation.
i lie result OF the conversation was,
said Mr.. Alexander, that Baron Rog- |
Mat expressed himself as satisfied with |
the proposition was "a good thing"
Baron Rogniat. it was brought out, had |
paid only small portion of his under |
writing thereafter and had finally refused |
absolutely to fulfill the agreement.
MIR. Alexander admitted that a large
portion of his time in Paris had been de-
voted to endeavorS to get the French I'M
1erWriters to make good their agreements
and to convince them that the shupbuild-
ng proposition was an advantageous one
on account of the personnel and proper
lies embraced.
Mr. Untermyer then confronted him
with his testimony of the morning, which
ne professed ignorance fthe shipbuilding |
and proposition. The testimo-
~ brought out showed that Mr. Alexan-,I
Ter had been very active in the attempt
o enforce the French underwritings
did you not advise Mr.. Young that he
must go to Baron Rogniat, eat humble
Die and make his peace with him?"
Mr.. Alexander declined to answer.
lnd YOU not cable the Trust Company
II the Republic to make call on the
French underwriters for % per cent. of
he amount of their underwriting?'
Mr.. Alexander again declined to an
'wer, but said that such call had been
made. He admitted that he had told the
)ppcnheims French underwriters) that
lie had heard that J. p Morgan & Co. had
AIKEN some of the shipbuilding securities |
ha |