The Birmingham age-herald., 1922-06-04
 Resents Statement

k1ON MttH 0Culil CdiATu on Chairman Lockwood to make Jntermyer cease asking unfair questions After he had admitted that the bank might both buy and sell the stock, the question that set off the fireworks were put to Mir. Schiff in these words:
 "So that whilst with one hand the syndicate Is selling stock to the pub lie, with the other hand 1t Is buying stock from the public" Schiff said this was not true be- cause the transactions were not sim ultaneous and that when the lawyer inquired how he knew, he shouted: We do not wash stock. and I resent that implication"
 All these resentments. you know, don't count" Untermyer remarked. The facts are what We are looking for"
 Then put the questions in the way so that they are facts, and don't twist things suggested the banker. "Mr. Chairman, you had better warn this witness that he is not in his banking office said the lawyer. And neither are yon in your oi- | flee" came the retort | MT. Chairman" continued the banker. Mir. untermyer is trying to put words in my mouth that we are manipulating stock, and I will not | do It. I refuse to answer another l question"
 Then came the Jail threat MT. Untermyer twists words in my mouth" said the banker. NO. I cannot get in your mouth" Untermyer assured him. "If I could. would close it. In a moment they were at 1t ar Untermyer insisting that the syndi- cate was buying and selling one" and Schiff agreeing that all syndi- oates were of that nature, but that purchases and sales were not made at the same time. You may have had experience in that way but I haven't" the banker said to the lawyer. T know some thing about your traneactions. know you have large interest in Bethlehem"
 Don't tell me about your experenoe or mine" Untermyer parked back. T think I know yours and l do not think you know mine. If you think you know any of mine, your are at liberty to state them now from the witness stand and not dare make these contemptible mutations"
 1T resent the word contemptible," Schiff remarked.
 "They arc contemptible because they are not true" said Untermyer.
 Holder of Bethlehem
 T do know some of your trar actions" the witness went on. 'f know you are large share holder 1s Bethlehem.
 Every one knows that" Untsr- myer put in. Then he again got tho last word in this manner:
 T told 1t to the committee when ] started. I am not selling It. I hkvs held 1t for Is years. Is that what you call an operation?"
 Later schiff said. if more peor wanted to sell than buy. his bar k bought stock. If the public wi h confidence in their judgment was ready to buy, the stock was for ga e. he said, insisting the bankers we not buying and selling simultaneouer ly.
 Schiff demanded a retraction fro Untermyer on published statemen quoting the counsel as saying Il $20.o0o.000 was to be used for tra ing in the market so that when U stock reached high level the II siders could unload, and the outside could load up." But Untermyer -1r ly remarked that the stat Nn@ not in the record of err1lsittee oro- ceedings and ist 50 si ,haf
 Thomas ' chs s5quzae. s7s lswysc who D anatsa ths syndscats. tssa@s.,' to turn over ans e fns papers 60 the commit.s today aithossh he 7as ordered to to sc ta 8 1acpoaNa. was test fs6d hts 1o1s pen Ssf;e-. for merging the three r4in ..ies would be the priyiie~s S1 buying at $1o a share, 25.6to sh.res of the common stock to be offered at $43. while Kuhn, Loeb q Co. would be privil- eged to buy 69,600 shares at slo and also receive 16 per cent oommis- sion on tho profits from floating the stock underwritten by the syndicate.
 The committee will resume public hearings next Thursday.