"Absolutely," he said. "The only way anybody else could obtain control would be to get my interest. I would never sell my interest without making for the men who stood by me with their support when I was struggling to put the Bethlehem Company where it is today the same terms that would be offered for my share. As a matter of fact, my interest in the Bethlehem Company is not for sale. Indeed, I could not sell. I have contracts that I cannot break."
It was said yesterday that the Germans had been trying to conduct their negotiations for the Bethlehem Company in much the same fashion as they recently had employed in their diplomatic negotiations, and that if they had been successful in getting the Bethlehem Company they would have found themselves with contracts on their hands which they would have had to carry out. The mere closing of the plant and the refusal to continue the further manufacture and delivery of munitions of war already contracted for would not save them from a situation which would be the equivalent of jumping from the frying pan into the fire.
Not only the courts would be promptly invoked to see that legal contracts were carried out, but, if necessary, the Federal Government could step in and insist that the manufacture and delivery of supplies contracted for be continued, in order to prevent a breach of neutrality. Then would be presented the spectacle of German interests turning out vast quantities of guns, shells, and shrapnel to be sent to Europe to be used in fighting their own troops.
According to the authority already mentioned, the Bethlehem Steel Company is the only plant in the United States that can turn out shrapnel shell complete. Most of the contracts that have been given here have been taken for various parts of the ammunition by different firms. One thing necessary for the turning out of shrapnel and shells is a twelve-mile proving ground, and the only privately owned range of the kind in this country is that of the Bethlehem Company.
Mr. Schwab has insisted to his friends who have questioned him about the rise in Bethlehem stock that the only valid reason, aside from whatever might be the intrinsic value of the property, is the tremendous war orders that have been obtained. On this account, as well as on account of his knowledge that the majority of the stock was safe in his possession, he was able to enjoy his trip to the Pacific Coast regardless of rumors at one time prevalent that a big market operator, who was supposed to retain an ancient grudge against him, was trying to wrest from him the control of the company he had built up.
A League for Preparedness
By Theodore Roosevelt, ex-President of the United States,
and
George L. von Meyer, ex-Secretary of the Navy.
It was ascertained in Washington on June 1, 1915, that the Atlantic battleship fleet would remain in Atlantic Ocean waters indefinitely. The plan to send the fleet through the canal in July for participation in the Panama-Pacific Exposition at San Francisco had been abandoned, and Admiral Fletcher's ships would not cross the Isthmus this year. The decision to hold the fleet in Atlantic waters is predicated on two principle factors. These are: First, there undoubtedly will be another great slide in Culebra Cut in the Panama Canal some time this Summer, and it would be considered highly undesirable to have the fleet on the Pacific Coast with such a slide interposed between Admiral Fletcher's vessels and the Atlantic waters. Second, the general situation of American foreign affairs growing out of relations with Germany is such that it is considered unwise to send the fleet to the west coast and leave the Atlantic Coast unguarded. This is the extent, at present, of national preparation against war.