New-York tribune., 1916-02-19
Saws Quality Ruled All
His commitments
and"Obligations.'
2.OOO,OOO HID
IN WORD MAZE
Stevens Praised-Morgans
IN Subway Deal Were
People on the Corner

explanation Of his use OF the
-, commitments" and "ooliga-
.'.,.r Theodore P. Shonts, By one OF
"a. ,l,verest strokes ever delivered al
,nou,sitor. emerged triumphant
49, Yesterdays grilling before the
roup,on committee. While triumph
q, ssopts. II was far from a defeat
., senator Thompson and his asso-
I,,.. And when it was over the
,,b prleed and distinguished counsel
n'I.neey Nicoll and John h. stanch-
ga who have never left the side OF
..r client. leaned back in their chairs
- sbresthed freely. SO did Shonts.
shonts. with a flow OF words which
:, ,ou-ed out almost breathlessiy for
mace o. ten minutes. undermined the
r,tuny planned programme OF the
,.-nittse. He was asked 20 describe
:, ,,lk he had with the late Gardiner
Ysne in his private office.
Commitments and Obligations.
Il vas during this talk, according
..c.orse ". Young, the hnancier, that
nm, said that the s2,OOO,OOo profits
/. -. Stevens contract would not 60
.,,bsr Stevens or himself. but would
!. ,vd 70 pay off certain commit
nraud obligations" Shonts incurred
/, b-arine about the signing Of the
susl sssway contracts.
Yorrg testified that Lane called him
:, Biz New York Office following the
p.esl meeting of the lnterborough
directors when Shonts tried TO put
,srcush the Stevens contract, and told
lin what shonts IS alleged TO have
SAID. Young made q memorandum OF
II, conversation with Lane, which was
Introduced in evidence.
shonts admitted all that Young tes-
tfsd to and which he incorporated IN
Ii, memorandum, except the reference
% the 100000. lie did use, he ad-
rl.;sd. the words obligations and
'ccmmitments," but only as an expla-
nation Of his philosophy Of life. Here
{, how NJ Shonts said he used the
words:
q have b1, one rule Of life. and that
that every obligation that made
nd every commitment ever made was
co the basis Of quality and price be-
Itg equal before ] recognized friend"
Inquisition Due To-day.
Bs. Mr. Colby hopes 20 destroy Mr.
AOnts's masterpiece when the Inter
borough head resumes the stand this
r'rning by bringing out the singular
ip Of everything that Mr. Lane is al
lsgsd to have told Mr.. Young being
'rvs except tho one thing that ioomed
y above ell else.
hEss after this special meeting that
III. Lane went TO J. =. Morgan, jr.. and
ast 10 him about the Stevens con-
inst Then followed action by Mr..
s'ss,n which ended the activities of
H. Shon:s for his friend Mr.. Stevens
taore Mr. Shonts resumed the stand
lnafday Senator Thompson showed
n tispleasure with tho testimony of
" Witness on the preceding day. lie
arSed him with being eyasive and
Fihg 70 shield certain men.
w. Shonts in his testimony denied
ar Morgan & Co. and Thomas f.
a'aa dominated the Interborough. Mr..
Why took s different view Of it, de-
a''ing that the record showed an as
tna'rg note Of dominance Of the house
Morgan in the company's affairs.
Ar' Colby introduced the alleged
~V'O'OOO slush fund talk few min
rs before adjournment. lie fret
.a'a Mr. Shonts If ne knew Mr.. Lane.
~ Shonts said he had known him
~'''e or fifteen years. Answering
'Du questions. he said Mr.. Lane was
member Of The Boston representa-
"" of J. p. Morgan & Co.. Lee Hig-
,I'oh & Co., was universally respect
9pe '"' very "'s''
On, t',st .t preliminary questions brought
lsi2 'ne special meeting OF June "a,
b,o,, when Mr.. Shonts tried 20 put
n..Ise the Stevens contract, but was
Az i'Asu oy Mr. Lanes opposition. Will
sso Read, the New York fnancier,
W. VDleeted 20 the contract, and the
,or'...slr ar. Shonts admitted. made il
sss.'shst sa.~hst unpleasant for him in the
Pa The designations Of Mr.
ropr,.he she Mr. Lane following this en-
arr with the president Of the In
y sssmyGGugh, Mr. Shonts said, could not
u1plslned by him.
~ vas then asked who John F.
S,sy.-' was. lie answered that Mr..
'ess..S was well known in his pro-
ssd...n; having worked seventeen years
ae saines J. Hill; that he had built
tH s.eat Northern over the Rockies;
'e"ed under Mr. Shonts in Pan
''aunoed On page z. oolumni