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Looks like the clamp half nearest the bolt head has no thread and the other one has the thread, they should both be free to float, take the bolt all the way out, put a longer one in a few turns and give it a tap and a wiggle, Looks like it's just jammed. File a chamfer on the end of your stem if all else fails.
Nice Gary Fisher Triton on eBay
http://www.ebay.co.uk/itm/200856301991?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649
http://i.ebayimg.com/t/Garry-Fisher-Trek-Triton-Single-Speed-Fixed-Gear-Fixie-57cm-Bike-/00/s/OTgwWDE2MDA=/$(KGrHqN,!jMFC2bI3t2TBQt9Mq2Zi!~~60_12.JPG