Hearings Before the Committee on Investigation of United States Steel Corporation House of Representatives (Volume 2) (Paperback)

This historic book may have numerous typos or missing text. Not indexed. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1911. Not illustrated. Excerpt: ... Mr. Littleton (reading): Senator Culberson. Would that situation have been relieved If they had simply taken that $100,000 shares of stock and stopped there? Mr. Schley. Who do you mean by "they"? Senator Ctjlbebson. I mean the Steel Corporation. Mr. Schley. Well, that was not considered. Senator Culberson. I understand, but I am asking yon. Mr. Schley. Oh, yes; If I had had five or six million, dollars in real money I would have been happy enough. Mr. Schley. Yes. Mr. Littleton. That was jour answer before the Judiciary Committee? Mr. Schley. Yes. Mr. Littleton. I take it, without asking, that you would confirm it as true? Mr. Schley. Yes. Mr. Littleton. And being true, if, as Judge Gary said, an offer was made that five or six million dollars would be loaned to Moore & Schley----Mr. Schley. The offer was not said to be made to me. Mr. Littleton. What is that? Mr. Schley. Mr. Ledyard had that offer, did he not? It was spoken of to Mr. Ledyard. Mr. Littleton. You did not hear of the offer? Mr. Schley. I have an indistinct recollection of an offer of that kind, on the deposit of certain collateral. Mr. Littleton. Was there an offer made to you of the loan of five or six million dollaTs? Mr. Schley. Mr. Ledyard came to me and I have an indistinct recollection of his saying that five or six million dollars would be advanced on certain collateral. Mr. Littleton. Collateral that you had? Mr. Schley. Yes; and I said that would not do. The proposition was that there should be certain collateral. My impression now is that the collateral asked for was too large in proportion and that it would only leave us in exactly the same situation that we were in before. I have to tell this by hearsay. I do not remember very much about that $5,000,000 offer. Mr. Littleton. Sen...