New-York tribune., 1904-10-06
DID NOT TRY To CORNER.
SO SAYS J. II. SCHIFF.
Hartman Refuses to Tel # He
Tried TO Control \. P.

Additional testimony was taken :
PhL-7 z. Revifr. ae referee ar MS '-li- p ~
W---a--zr IL the s-1it Brought 5T JoA' d. y -
@ Chicago. tr recover $3.50 fo- losses III '-@
N9-tbe-u Psriar corner III Ma 1871, from the
stock brokerage nrm o. SJeruhe-Eer. r.-a 4 Si'l|'
q -his CITY.
Jscoo r schlE. 70 Euhn. Loea CO. "hoS7
examination had not been finished on Iae@1~E- vas
aEe.n witness On answer 70 questions at -fel'Ig
wilcox. attorney for NJ @ Lear ny StH- sa-
Thar prior ~ Nav ? 1871, the firm ~ hnan L'eo
& CO had purchased Northern Pecl1c STOCK On ''S
NeV-To7k Stock Exchange.
How much = this Northern Pa-inc STOCK oo
rou- 6-r buy-- asked AIr Wilcox
II decline TO answer that question repieo MI
schia
Why asked NJ Wilcox
Because answered Mr.. Schif, that IS the pr
vste business of the drIn. and concerns nobody
else"
NJ 'schiE declined 20 say whether or NOT the
firm of Kuhn. Loeb & Co. had sold IT'S Northern
Pacific stock 70 the Northern Securities Company
at the tine OF the formation Of that company On
cross-exaEination by Alr. Moran, representing the
defendants, NJ. schif said that ne thought his
firm would azve heen willing TO pay more than
$50 . share FOR Northern Pacific stock on May
;. Il Ihere had been any for sale.
Mr- Sch.n asserted that the announcement or his
firm 70 settle with Northern Pacific shorts az &oV
a share. was maze after stock Exchange hours on
Nay 9. There was no agreement between huhn,
Loeb Co and J. P. Morgan & Co 70 allow shorts
10 settle ~ $50 q share. said M Schtf. Kuhn
Loeb a. co. had merely given notice 70 J. P. Nor
gan co. rhar 10 ease the condition Of affairs IN
Northern Pacific stock they were going 70 allow
shorts 10 settle S5a. as that was thought 70 be
d fair price Tor the stock.
NJ Moran asked NJ Schi1 = Kuhn, Loeb q Co
had made any efforts on May 3 70 corner the North
eru Pacific stock
''Kuhu. Loeb & Co. never attempted 70 corner
any STOCK" replied NJ Schi1. He added rhat there
had never been a1y agreement between Kuhn. Loeb
& CO ard = z Morgan d Co or = !. Hi concern
ing The Northern Pacific stock. de declared thar
Kuhn. Loeb & ~. had never owned substantially
all rnA common stock q The Northern Pacific Ran
way Company Ta declined. however 20 answer
questions by M Wilcox as 10 the exact amount
q Northern Pacific stock held by The arm
z. + Hartman followed Mr. ScL.+f on the wit
ness stand IN reply 70 the usuai preumina-v
questions he said THAR he Lived a. Arden. Orange
County asked his occupation he said. II II far
r1a- Arden and director II N7v-Tork"
RI. Wilcox asked N- Hartman how much
Northern Pacific stock he had about May g. and
RI Hartman said ne could not remember Asked
u ne had S10.e0 worth. he answered lhar lf le
had any he had 10 such amount.
M Hartman refused absolutely TO answer cues
lions from 1Ir wilcox as 20 whether or not he was
concerned l --.-ng -c gain control u The Northern
.Why wont you answer these auesrions?- asked
7 d9l'r aznr TO-. replied M Hartman.
8- Hartman said na present The confer
e--e with M steele. NJ Schl1 and others on Nav
g. when t. decided 10 allow Nj Morgan 10
name new board Of directors tJr the Northern
Pacific 1e sa-c that t--s conference Vas held 20
alay apprehension concerning the affairs " --s
road.
A. Hartman refused = answer questions as 20
Tl--le- or net he sold Northern Fa-i1. stock %
me Northern Securities -c-Lra-y. AT present re
Uss director IN me Northern Pacific 1a-. bur r-
cl1 not remember whether or uot ~ ot rLe
1--e0r7rs 1anee ~ Air- Morgan 81 May. 1871.
Replying ~ AI- Moran, Al-- Hartman said that
ne never was member 0f any conspiracy ~ cor
Cer Northern Pacific stock In reply -o Mr. Wilcox
be salC that he and those associated with him SO
ca- as lie knew. had had dealings 4u Mort rer-
PACING STOCK - The three -r four days lrueC-ate-y
preceding Gzy 2
Nj Hartman declined 70 answer " Wilcox
question whether or not h-1l- Loeb d Co were
1reraring = conjunction wit1 a.m concerning The
N5rrler- Pacific stock
ludwig Fud. OF the defendant srn. said thai In
1laE 1901 his work V--r -1e -r-- rhar of gen
e-al superintendent ir me Office he declared that
ne personally had nothing % Go with TIE purchase
ar The TWO hundred shares q N1--re-- Pacific
stock involved IL the case. EI= thought The stock
had 7eeD borrowed from X lh-. Loe- q Co. for a
period that would keep The stock II -he possession
~ S-@r-oe-eer El.- e Sim until Nav %
The hearing WI be continued This afternoon