The Birmingham age-herald., 1903-10-24
|SCHWAB D|DN'T I CAUSE FAILURE Defense Will be That Organiza- ' tion WOuId!.4ave Failed
 S spring wheat .!2 corn. Il; No. oallnNo. ? oats, s5as; No. QIlTTTDT n ss1s. ,gS OUFTCn[U U Rye-No rye. 541s. Barley-Fair to choi Flax Seed-No. 9S. Timothy-Pr. Says lncr 'eased Cost of Lat Perlnd Increased Cost of Ma
 teriaI and Genersi Expense
 Caused the FsH lures.
 tlU.

New York, October 2S.-sphe nature of the defense which Charles M. sehwaD will make to the charges that have been made against him in connection with the financial affairs of the wrecked United statAs shipbuilding company, was sharply outlined during the latter part of the hearing fearre Commissioner Oliphant to-
 New orlec Nixon was still on the stand sol, 226. Mss examination by w. r. Gnth- clai Sl'z92nsel for MT. Schwab, in an effort
 snow that the corporation would not have succeeded even if the S2OOO,oo0 iRloy,fn- sed under shelden's plan of reey: G a. i, tis,n, had been made available tat it could not have contino points highace even if it had received at nrst noeW' ght for s9OOOOO whiants @ 1 nnder ' des ,,, tin, was clo5ongfully withluch frmer Beth.- aem poinpany les, 146,750
 5.10@5 Guthrie showsdP 5Od5r. Nixon that 535Qi is9Oo0oO would h&; M leen absorbed saeylout relieving the cy" panv of all the f ancial embarrassment Thich 1t suffer ed. and then asked if aguld have been honest to the other Er 22.-s if the inter esss charges on accogn to e11eds had been paid on July, 1. thged at e117 crisis in the affairs of tine I a.S'lsdzo iz12
 ,,, ..,,t,,... ,,. 2s Cd in Londu ho, of ,.,.a4.t,os "''', h,- ur Cd, and futures z, inc worth and genera,e,,,l laN ,o cs,i the Bethlehem compa ca o ., , was one of the greate.is ou 'o - .t h % V1 " = pu in the country, sheie a' @1'o at yytt,, +ha petbiehGlly, firm at S6.121s. Id- - ,5 I'd in Glasgow ant .a. a bal ship, a distinctl Locally SHE tby no or onshipbuflding coNi2, | TOUT he worl0ern, Yer objections ol NJ. |, Il, eF- meyer15Q Nixon testified that during ie first yeh, ithat Bethlehem was in the eeri- bination 1t earned upwards of s2.000.r00 T believed its earnings would increase. but said any estimate by him in figures would be surmise. At the request of MT Guthrie, the witness told of the adverse conditions fin the shpbuilding business that in the last year or two had led many of the ship yards to bankruptcy He gave increased cost of labor and labor troubles and increased cost of materials and general yard expenses as the chief causes of the trouble.
 The examination of Mir. Nixon was not concluded and will be resumed at the next hearing, which is set for a week from Monday.
 Schwab Can Intervene.
 New York October 2S.-Through an or der granted late today, Charles M Sehwab was granted leave to intervene as a complainant in the action recently commenced in the federal courts by the New York Security and Trust company against the United States Shpbuildng company and James Smith, Jr, as re- ceiver. The defendant at the same time were allowed to file an amended answer and cross bill. Lawyer Defrere, represent ing MT. Schwab, explained to Judge La- combe that the issues of the action were that MT. Schwab should properly be complainant the answer of the defendants containing allegations of such character that MT. Schwab should in all fairness be given the opportunity to come in and show his position.