Morning journal and courier., 1882-03-04
The Parallel Road.

Arguments Continued Before the Com
 mittee-The Able Arguments of Hon.
 Lynde Harrison and President Wat
 rous-General Kellogg Commences the l Closing, and Will Conclude Next Tues- |
 day Afternoon.
 The arguments in opposition to the pro- posed "Bee Line' or Parallel railroad be- tween New York and Boston were resumed yesterday morning at 9 o'clock in the Su- preme Court room in the Capitol building at Hartford. There was a large number of in- terested auditors present when Hon. Lynde Harrison commenced his opening address for the Consolidated road, and the number in creased until every chair in the spacious room was occupied and many were standing. Among the number present were many mem bers of the House, who were attracted no doubt by the importance of the case
 Judge Harrison, in the interest of the Consolidated road, said in his opening that the opposition to the proposed charter, $30,- 900, 900 in capital and the practical interests of 2,O00 citizens of this State, $7,00O,00O of the capital stock, selling in the market for over $1O, 1000, ,OOO, is held by the citizens of Connecticut. The average stockholder in the State holds only about sS3, 754 worth of stock and receives only about $375 annually-show- ing that the stock isIin the hands of poor peo pie. Under a general Connecticut law it was thought there could be no monopoly in rail roading, banking or any other business. It had come to be scandal in the State for par ties asking for special privileges for rail roads. There is no necessity for special charters for railroad companies doing busi- ness in this State. The railroad commission CTS say in their report that managers and cor porators of roads should be residents of the State. If special charter is granted in this case, then special charters must be granted hereafter. So you may as we'll strike the general law from the statute book. Among the numerous privileges they ask for is that the capital may be $2,0OO,QO0, and that when it issubscribed for-not paid in---they may construct the road. Extraordinary privileges are asked for in bonding the new road. They open the way for repetition of the Cred it MobiIier system in this State. An edi- torial from the New Haven P1IZadiatna published in 1873 was read by MT. Harri- son, concerning excessive railroad building, only short time before the great panic of that year. They ask the peculiar privilege of converting their bonds into stock; they want to put a lien on all the property the length of their road, six rods wide, acrsss the State, whether they build the road or not. to continue until 1890. The withholding of the names of the stockholders, their want of frankness, shows that they are not acting in good faith toward the State. When asked where the money is to come from the peti- tioners decline to answer, because their ene- mics may interfere with the plans. The State wants to know what the character of these packers is. The only two names who stand back of Governor Jewell are MT. Red field and Mir. Pool. Who is Mir. Pool? Pres ident of dead bank a stockholder in. 8 Broad street stock brokers firm; president of two railroads-one that has never used a shovel in it's construction, the other dead as anything can be. The two babies were born in the same week-the Construction compa- ny of New Jersey and this proposed road. Mr. Pool admits that within a few weeks be- fore this hearing began he went to MT.
 Watrous of his own volition but declines to answer what the nature of his business with the Consolidated road managers was.
 When he declines to answer the SUD-
 position must be that he offered to sell out the proposed charter before the road is built, or combine after portion is
 built with the present roads. The organiza-
 tion of these Credit Mobiliers was gone into
 and explained to the committee. Who loses
 in the end? The public, and no one else. They give you two reasons why this charter
 should be granted One is that the present
 road is monopoly. Is this so? Let us see.
 Because the New York, New Haven and
 Hartford railroad put money and build
 road to accommodate the public, are they monopolists I say no. The stockholders
 of this road only receive ten per cent. on their shares and they propose to build with the surplus iron bridges double track over the Shore Line road. to add to the rolling
 stock, and to reduce the rates of fare as they have done before. Taking up the circular
 sent by President Watrous to the stockhold-
 CTS, MT. Harrison said that it was MT.
 Watrous' duty to do this, acting as he was in
 the capacity of their trustee. He was look
 ing after their interests, included in which
 were widows and orphans. It was his duty
 to do this, and also the duty of the Sena- tors and Representatives to look after the interests of their constituents. MT. liar rison then took MT. Maltbie to task for his insinuations regarding Hon. William D. Bishop in his argument, and said to him that he (Bishop) was 8 thousand miles away at- tending the marriage of his son, and he could not get him. I would be glad, said MT. Harrison, even now to produce MT. Bishop and let the other side cross-question fO Mr. then went over the evidence of those who appeared in favor of the petition and showed the fimsiness of their arguments or excuses for the construction of a new road. They cannot, said the speaker, get one- third of their corporators to come here and say that they are in favor of this road. Speaking of the evidence on the other side he referred to the clear aud honest statements of James G. Patterson, J. B. Sargent and other large manufacturers, who had testified that there was no need of another road to accommodate either passengers or freight You may have given some heed to the testimony of MT; Red field and the argument of Mir. Maltbie, that
 the building of this road would improve the
 population and prosperity of the State. But
 is this so? It is not shown in the building of the Connecticut Valley road, built through
 one of the most prosperous and smiling farm
 ing districts in the State, where the popula- tlon has not increased at all, nor has the
 grand list of the towns through which the
 road passes increased, but has declined. The
 same is true regarding the Connecticut Vest
 ern and Air Line railroads. Where does this
 road begin Why, in the mud patches of
 Byrom river and ending in Voluntown. Is it policy to build a railroad which has no be-
 ginning and no ending except in imagination?
 Before you permit this excessive railroad
 building to go on, stop and think and don't
 let the money of the State be locked up in
 useless and expensive ventures as is proposed
 in the building of this road. Again say
 that it is shown from statistics that 8 man is safer in the cars of the Consolidated railroad than he is in his own house. If the general railroad law needs amending, why amend it,
 but don't open the door to such wholesale
 fraud as is proposed in the granting of this
 charter.
 At 1O:46 President Watrous commenced
 the closing argument for the respondents. In
 opening he said My friend of the petitioners
 spoke of a volunteer defense and that we
 were volunteers. I accept the accusation,
 and I think we are such in the same way that
 you would volunteer to defend your own
 property My distinguished friend, Govern
 or Jewell, and his associates say they want to
 build new highway. It happens that there
 is in the statute books law whereby they
 can open such a highway. But they say that
 won't answer our purpose. Why not? Do
 you mean business and propose to put your
 money into this project? Then why not build
 your railroad under the present law. O,