New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-22
TIE FUTURE OF ENGLAND.
CONTROL OF THE PROPERTY NOW NARROWED
DOWN. TO MR.. pARsONs AND MR.. MLEOD.

! CONTROL, OF TIE PROPERTY NOW NARROWED
DOWN TO MR. PARSONS AND MR.. M'LEoD.
The future OF Ecw England Is question only secohd
in interest to that asked about Reading Itself The
| annual meeting will be held on March H. ana tue
transfer books will close next saturday: so before
that time II will probably be settled whether MI.
Mcleod has succeeded In the attempt TO control IL
even though he has been compelled TO acknowledge
defeat nj home or whether the Interest represented
by Charles Parsons. which now manages the property
will keep It's hold. on Monday few persons ma an!
| notion that Mr. Mcleod was not utterly beaten IN
his Ncw-England scheme and the Vanderbilt Morgan
, ncopIe were thought T. have New England. Now,
however: It would appear that Mr. Morgan l, not
buying New England or making any attempt TO con
troll II.
The question OF control narrOws down 10 UT.
Parsons and Mr.. Mcleod. 1t Is certainly true that
Mr.. Mcleod and his friends have managed. In some
way 10 keep hold Of the bulk OF their New England
stock and have disposed Of none OF their Boston ana
Maine and Connecticut River Valley. Some have
estimated that the Reading people have 10000 or
more shares ont Of the 100000, but this Is be-
licvCd to be too large estimate. Their holdings
are large however, and the chances are that unless
Mr. Parsons wants to make contest they VIII carry
the next election. Many Of Mr.. Ihrsonss friends do
net believe that ho will make fight. They say
he went In only for a year at the request Of
Mr. Bostwick, and has managed the road admirably
during that time Even though the Reading interest
Is minority it is consolidated. while the stock of the
other faction Is scattered and the time Is short In
which TO get proxies.
william Lummis, one OF the directors OF the New.
York and New England, last night and
asked about the prospects Of the road. In answer
to the question: Have the Mcleod people
trolling interest in the NewYori and New England n
he said
Il think that In spite of the liquidation In Reading
and the heavy decline in New England, Mr.. Mcleod
and his friends sn control considerable amount OF
New England stock. ] have, however, no posiu'e
knowledge upon the subject
When asked If Mr.. Iarsons would retire. he replied
Il cannot answer that question. II he should choose
to make a contest for the election by endcavoring TO
obtain proxies and buying stock, IL would be quite
possible for him TO be- successful. In my opinion,
although the time Is very short, the books close on
9Th | do not think he Is inclined 70 make any
contest. and Dyond this cannot speak OF his iheh-
lions
Mr. Lumms would say no more but It wa: Learned .id
considering giving up the pr sdcncy ana win hn III
that case, viii 90 his friends In the board The inc,
that New England has not paid dividends Is allrnu"t
by many TO The frequent changes In It's management
and The con equent acmonlation OF the scrVite pr
ton Of voting trust Tor hvc years. 80 that me prop
ty could be develop steadily. oihy onciourth u "r
TIN the stjckhol icTs showed WI nan 10 20 INT"
the trust and 50 he dropped u ana ,AS breh pr,
pared 10 go ont II the shareholders did not WISH u
support him. II i, said That he has not Increased OF
diminished his holdings by 900 shares since he BE-
came president. lie entered the board on con1'u N
that his 20 III WIN MIN. IhtN N'fc "ipH' ~
FIRST. Mr. BUstwicn and Others resigned uniiI MI
Parsons lad six out Of the nineteen direct r, VINO
could be rcli.d In all thing. The majority
however. were friendly. and In all important mat
tiers he has Lad large support anf IN most chS's
no opposition at all. In some f"w Instances how
ever the Mcleod directors opposed him. most nola
bly, in the giving OF an cNpeS contract when IA
Adams contract eAplr,d Mr. Parsons wanted the
contract 10 go to In" American ENpfcss Company,
and tho Mcleod people favored tne United State.
Mr. Parsons won aud made most favorable bafgiin.
Then Thomas C. Iitt brought suit on the ground
that the nlted states, Offer was better. and got
nm Injunction from Justice Pratt In Brooklyn, who
after a hearing dissolved II. The suit. though, l.
still pnding \ Now England stakeholder yesterday
c lmnening on hi, contest, remarked. 1t l. a
curious fact that after Mr. Mcleod and Mr.. Phtt
stood together I'm that case. Mr. Patt should 20 10
Philadelphia 10 get receivers appointed for READING.
which was Just what Mr.. McLcods friends wanted.
\ prominent New England man speaking ri the
relations with New Haven. said he was sur
I'm ccntrol. New Haven had done all It could 10
hurt New England Tor year aud II could hardly d
ANYTHING further Just before MIR. lIDswIck resigned
he son the IlDisaionlc Ia New Haven. That was
distinctly against the NV Engnnd interests. IL
was believed that he had al that time begun 10 dis
pose n his stock and that II had probably 10 con
Siderable extent gone int The hands Of the Tila-
delphia people. lie did not believe the cwIInvcn
had anything do with the Reading trouble. IL was
couldn't hOd all II had. In letting 60 the Mcleod
pc pie had managed 10 get receivers who still left
Them In "A measure In control. and at the same time
they kept The outside holdings. II they could get
rec eiVnrs for all tho roads they might manage 10
make the string hold together.