New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-14
MORGAN NOT TO TESTIFY
AIDED SHIPPING TRUST.
Ne.r-Jersey Lac No Bar TO Receiv-
er'S Stock assessment Plan.

Whom the hearing in tic United States ship
huiidns- case is resumed 1859 O'Clock this mora
ing d Tc ROY Dresser will again take the witness
chair. ard hs crosse ANIMATION by William -
Guthrie. which WAS IN progress when the hearing
was adjourned last Wednesday afternoon VIII be
continued. A report published yesterday that
Samuel Uutermyer. counsel for the bondholders
protective committee. would object 10 Mr.. Guthries
further cuoss-exs miuation Of Mr.. Dresser, on the
ground thai Air. Guthrie had been counsel for the
Trust Company 81 tho Republic. and would be able
20 make Use o. confidential information
Il never said any such thing" said Mr.. Inter
,.,or and I am not going make any attempt
20 prevent denomination BY MI Guthrie ID
Is no concern OF mine that Mr.. Guthrie was counsel
sor tle trust company. lie was not counsel ior
Mr. Dresser and didn't have anything to do with
This matter"
Mr. 1-nter-,yer was also asked II he intended 70
cali AR Morgan any OF the hearings i aon
zee any reason for calling Mr. Morgan. ne
answered. Mr. Morgan could not testify except
from hearsay. as he was IN Europe when the ship
building matters happened"
LEWIS NIXON To TESTIFY
According TO the present plan. Lewis Nixon will
allow Mr. Dresser on the witness stand to-day. ana
a IL expected that among other things he will he
rsked 10 state IN detail the amounts at which the
several subsidiary companies were taken over b.
she rnitod States Shiphaildng Company and 10
explsin the way in which the valuations were ar
rived At as well say upon whose appfsiSe-
r7eut the valuations were fixed.
4 story published yesterday sought 20 show maj
an act which the legislature Of New-Jersey passed
last Arlil would make imperative the law unoer
wHsch Receiver Smith is said 10 be planning t. col
seci in The form 81 an assessment upon the S-o'-
90 Surrounding stock which Charles VI Schwah re-
7ei,-ea with his second mortgage bonds A sum SUI
>cient 20 discharge the obligations OF the United
States Shipbulding Company. That act. which Is
CHAPTER 1 Of the Of 1906. approved April s. IS
IS follows:
ANY director. officer promoter. Or other agent OF
any corpora tion organized or existing uncer the
laws o. this State who shall have heretofore mace
~ received. or who shall hereafter make or re-
reive while acting in such capacity, any polus.
slrofr or reward Of any kind whatsoever out OF
on account transaction Tor or with Sucn
corporation without disclosure Of the TACT OF sucl
bonus profit. or reward to the corporation ana
without obtaining IT'S approval thereof, shall he
II such bonus profit. reward for and during the
period OF four years from and after the making or
recent OF tho same and not atteTWard: ana an
action shall lie behalf Of such corporation either
"a law or IN equity. 10 recover such bonus. proUt,
or reward. The value thereof or for an account
with respect thereto any time before the eKplra-
lion Of said period % four years. out not after
ward
court Al the tine takes effect. any right of
rv corporation. of any stockholder. against amy
such director officer promoter. or other agent ul-
der existing law provided action thereon be com
rnenced within six months after this act takes
effect