ged with the du Pont Powder Company for an increased
monthly supply of sulphuric acid. Toward the close of business stocks
generally reacted, being influenced by the desire of many traders
to keep out of the market until the tenor of President Wilson's note
to Germany was known.

But despite the many physical manifestations of unusual activity,
officers and Directors of the companies mentioned as those on which
Germany had set her eyes were uniformly non-committal when they did
not positively deny that there was truth in the story.

William J. Bruff, who is President of the Union Metallic Cartridge
Company and a Director of the Remington Arms and Ammunition Company,
said:

"I don't think there is any truth in it. Yes, I am certain that no
offer of any kind has been made by Germany to buy the two companies. I
would know if such offers had been made and I haven't heard of them,
except such reports as I have read in the newspapers."

Henry Bronner, a Director of the Bethlehem Steel Company, said:

"I have not heard that Germany or any one else has offered to buy the
Bethlehem Steel Company. If such an offer were made, Charles M. Schwab
would be the man who would know it."

THE NEW YORK TIMES _of June 10, 1915, included this report of Charles
M. Schwab's purposes with respect to the control of the Bethlehem
Steel Company:_

There is not the least danger of German interests getting control of
the Bethlehem Steel Company and breaking the concern's contracts with
the British for arms and ammunition, it was made known yesterday from
an authoritative source. This same authority had no information that,
as alleged by The Chicago Herald and The Providence Journal, and
quoted in THE NEW YORK TIMES yesterday, the same interests were
seeking to obtain control of other companies.

What blocks the attempts of the German agents, in the case of the
Bethlehem Steel Company, for one thing, is that the majority of the
stock of the concern is not in the market. Contrary to rumors that
have lately been floating about hotel corridors and into and out of
the brokers' offices adjacent to them, Charles M. Schwab still owns
the majority of stock. This much Mr. Schwab emphatically confirmed to
a TIMES reporter yesterday at the St. Regis. That he had no intention
of selling he asserted just as emphatically.

At the same time the information is authoritative that agents
representing the German Government or German interests have approached