s 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.

[Illustration]

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 wo