Salt Lake Telegram | 1922-06-09 | Page 14 | Lawyer Turns over Data on Steel Merger

mm turns lER D11TII ON STEELMERGER Untennyer Propose to Find Out How Stocks Were Sold on Wall Street Before Be-fore Deal It Finished NEW TORK, Juna t. Thomu L. Chad bo urn a, lawyer who nrtiat4 In the M.dvale-Inland-f.publlc atl mr-r, mr-r, hu pursed hlmaelf of the contempt hara;e declared against him yeatarday by the Lock wood lefielatlve commit m, when ha refused to turn over data a four other ittot c"fnpnnlea originally origi-nally contemplating- entrance Into the combination, Hamuel TTntermyer. com-tnlttee com-tnlttee counsel announced today. Mr. Chad bourne turned ovr the desired de-sired data. Mortlmtr U He h iff of tha banking houaa of Kuhn, !.oeb fc Co. will not ba recalled for further mini nation for this reason, Mr. I'ntTmytr . aaid. Ha added that tha data on the t four companies which did not enter the merger would be treated confidential. confiden-tial. Tha ax parte' reporta on tha three ompantea entering tha merger whlrh ware submitted by Mr. Chadbouma a ho wed that tha com pan lea had an annual an-nual average net earning ca parity of 911,000,000 over tha last ten yeare. The high point waa In 1 1 7, when the combined com-bined aarntnga were 1 40.000, 000, and the low In 1121, when their combined lonaea ware $11,000,000. Combined aaeata of tha thre com -pan lea are approximately f tl.OOO.ooo. Mr. Unterm yer aald he proposed to ub poena Wail treat brokers In an effort ef-fort to ascertain how It came aiit ' that atock In tha marred companies 1 waa offered for sale In Wal street be-' be-' fore tha merger waa eompleted.