The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-04-21
old LINE IS ABSORBED
The Consolidated Road Gets
the New Haven Steam
boat Company.
AN OFFICIAL ANNOUNCEMENT
MADE LAST NIGHT by THE BOAT
LINE DIRECTORS.

In NebOluNOnb ANOpt6u Oy
Them in New York on the Death ol
Commodore Peck - The Company
Went Out of Existence as u Separnt.
Line the Day the Commodore Died.
One of the most important announce
ments of financial character can be
made this morning which will be Of
much interest to the New Haven public
This is the fact that the New Haven
Steamboat company has passed into the
hands of the New York, New Haven
and Hartford Railroad company. The
road company has been effected so
quietly that the announcement will
come as surprise to the public. Fol-
lowing is the official action and state
ment of the Steamboat company:
Resolutions passed at meeting of
the board of directors of the New Ha-
ven Steamboat company on Thursday,
April 10, 1900.
Captain Richard Peck, the veteran
steamboat manager Of New England,
died at his residence in New Haven on
Wednesday, April 18th, 1900
HE served this company for over
fifty years, first as captain, then as
superintendent, and finally as general
manager, and in every capacity his wis
ND oypcntiUp ahi1itV
were SO conspicuous that he was recog-
nized in the world of transportation as
one of the ablest steamboat men of his
day and generation.
ITO his sterling business abilities We're
added kindly and generous nature and
disposition, which gained for him the
friendship and esteem of all who came
in contact with him.
1T is a singular coincidence and was
no doubt gratifying incident to Cap
tain Peck that his earthly career ended
on the same day that the company
which he served SO long and faithfully,
ceased to exist as separate line, in its
friendly absorption by the New York.
New Haven and Hartford Railroad
company, it's early and natural ally.
ITO the family Of Captain Peck, who
have lost a devoted and affectionate
husband and father, we tender our deep
est sympathy with the assurance that
his memory will always be cherished
in the hearts of the officers and en-
ployes of the New Haven Steamboat
company"
An effort was made to see President
Hall and other leading officials of the
railroad last night, but they were out
of town. President Hall was away in
New York. To other representatives of
the road who were enquired of, the alb
sorption Of the boat line by the railroad
was news.
From other sources the following in
teresting facts are obtained: The capi-
tai stock of the steamboat line was
$500,0 The company had some bond
ed debt. There was issued April l, 1892
$4,000 per cent. bonds, due october
/, 1902, with coupons due April and
October 1 in each year. About $145,OOO
of these bonds have been retired by
purchase These bonds We're issued in
part payment of the steamer Richard
Peck. Previous to the building of this |
steamer the company had no bonded or
floating debt.
Gently made in part payment of the new
steamer Chester w. Chaplin.
Before the consolidation of the Hart
ford railroad and the New York and
New Haven Railroad company nearly
all of the westbound freight from Hart
ford and the Connecticut valley which
came down the railroad went to New
York city by the boats of the New Ha-
ven Steamboat company but after the
railroad consolidation the railroad grad
ually diverted freight from the boats
over it's own lines. Dividends of the
steamboat company were formerly 20
per cent, but in recent years the divi-
dends have not averaged per cent.
For the last two years no dividends had
been paid, the surplus earnings going
into improvements.
The control of the company has been
in Hartford and Springfield. Among
the New Haven stockholders were the
late Ex-Governor English, the lata
Henry G. Lewis, the late Richard Peck,
the late Jacob Broschart, ex-TaXl al
lector Theodore A. Tuttle, the late John
NJ Lines and c. H. Northam of Hart
ford, after whom the last side wheel
boat was named. The Chaplin family
always have been the largest holders
of the stock and Chester w. Chaplin
owned three-quarters of the stock
which he inherited from his father after
whom the steamer Chester w. Chapin |
Is named. Prominent New Haven gen.
tlemen said last night that it was very
probable that the minority stockhold-
ars would receive as much pro rata for
their stock as the large holders. The |
absorption of the steamboat line has
been effected during the last three or
four days and the fact of the making
Of the change was known to some of (
the prominent men. 1t is considered
that the change will be of much New
Haven benefit in that the Providence
inc of boats will now be abandoned and 6
The New Haven business of the boats
De made more of a feature than it has
oeen latterly The change will benefit 1
he railroad, as much freight will be c
vent from here to New York direct by