We waited in the room there until 4 o'clock, when Mr. Taylor's private secretary requested all the bidders to go into Mr. Taylor's office, where the salvage committee was in session. We all went in there. President Francis asked the bidders how they wanted the bids handled, whether opened in their presence or opened in secret session of the salvage committee. All the bidders present requested that the bids be opened in their presence, except Mr. Abe Harris, who got up and told President Francis that he did not want his bid opened in the presence of the bidders, as he did not want everybody to know what he had bid, and that if he was the successful bidder we would all know later on what he had bid, and if he was not the successful bidder he did not want his bid to be known. Mr. Albrecht got up and stated that he wanted his bid to be opened in the presence of the bidders, as he wanted everything to be open and aboveboard. President Francis then held a whispered conversation with Mr. Taylor and some other gentleman there, and then in a few minutes turned to the bidders and said, "Gentlemen, we have decided to open these bids in secret session of the salvage committee." and requested us to go into the anteroom and wait until called for. We all went back into the anteroom. In a few minutes President Francis requested the Harris brothers to come in the room where they were holding the meeting. They did so, and remained in there about ten or fifteen minutes. As soon as they came out Mr. Albrecht went in, and when Mr. Albrecht came out Mr. Krug and myself went in. President Francis spoke to Mr. Krug and said, "Mr. Krug, you seem to have some very good letters of recommendation here, and from the letters I judge you have done considerable work." Mr. Taylor asked Mr. Krug if he knew a Mr. Schluetter, of Chicago. Mr. Krug said that he was acquainted with Mr. Schluetter, had done considerable work for him, and had always been paid his money. I inferred from their actions that they had had some trouble with Mr. Schluetter. President Francis said, "Mr. Krug, your bid is very satisfactory." Mr. Krug had only submitted a bid on part of the buildings, as shown by the specifications. President Francis asked Mr. Krug if he could not put in a bid on all the buildings, and why he had not done so. Mr. Krug said that he was afraid he would have some trouble getting insurance on all the buildings, and for that reason only submitted a bid on buildings that were more isolated and less liable to fire. President Francis told him it would be an easy matter for him to get insurance, and he asked Mr. Krug what he would bid on all the buildings, according to the specifications. Mr. Krug said that he would be willing to bid $76,600 on all the buildings as shown in the specifications. President Francis asked Mr. Krug what he would wreck the buildings for on a percentage basis, or if he would take the work on a