New-York tribune., 1907-12-13
AFTER B. & M. STOCK.
C1N4DI4N PACIFIC OFFER.
Government Objects, HoreUer, to
Sole bg Neao HaUen Road.

New Haven. Dec. 12.-The report was CON
e.a here to-day that the Canadian Paclnc
1,a,l,-.x conopany has made an offer TO buy the
L.. ~ the Boston & Maine Railroad "hicn
orc held by the New York, New Raven q
Hartford Railroad Company Ii Is uhoelsuoo"'
a1so that the Federal authorities at " asnlhs-
-, have been consulted about the offer ana 90
mot regard the negotiations with favor
In response TO Inquiries. Mr.. Mellen supple
r,ented his Boston statement Of yesterday with
the following to-day:
Whoever purchases our boston q Sd"lio
-tock 7 believe will also be required at the
same time to take the contracts OF the Ne"
England Investment & Security Company set
fling fits Indebtedness which we now hold. To
the sale of the Boston & Maine stock separately
am opposed: to the sale of both, considering
the controversies that have arisen, j should
feel disposed TO assent There is little hkeIhooo
that the matter viii be concluded hastily
1t is a large transaction and will take con-
siderable time to arrange in all Its details Nof
is 1t by any means certain that a sale viii re-
suit. However, it is mos. encouraging TO learn
there are persons disposed to believe We have
not paid undue price for what We have &C
quired."
Apart, however, from any question or the a'-
tude Of the federal government Of the State OF
Massachusetts, the condition to be imposed, of
the purchase of tie Massachusetts, trolleys OF
the New Haven company. is regarded as a
serious obstacle TO the carrying through of the
sale. What. however. is Of considerable I'M
portance is that another large railroad interest
has approached the New Haven management
with suggestion of the sale TO it Of the Boston
& Maine shares. The whole matter has not
advanced to q point where it will be more than
discussed ar to-rcrrows meeting of the New
orJ rIira
An officer of the New York. New Haven &
Hartford Railroad Company called attention to-
day to the fact that should the New Haven
corporation decide to sell hereafter to any
railroad interest the 10000 shares prac-
tically controlling the Boston & Maine road
will never hereafter be separated and will go
in a block TO any interest which may acquire it.
Montreal. Dec. 12-when Thomas G. Shaugh-
messy, president, was asked about negotiations for
the control by the Canadian Pacific Railway of
the Boston & Maine road he answered:
Il have positively nothing say
There is q feeling among minor Canadian Pa
cihc officials that the rumor is well grounded.
Boston. Dec. 12-Concerning the report of nego-
fstions for the transfer of the holdings of Boston
* Maine stock by the New York, New Haven &
Hartford Railroad Company to some other cor
poration, President futile Of the Boston & Maine
said:
heard rumors for the last two three weeks that
some such proposition being considered, but
] know nothing about its details Certainly the
Boston & Maine Railroad Company, as corpora
lion. nothing to do with it, and / have no
means. of course, of knowing what individuals may
be planning.
Il can be said upon authority that the New York
Central is not the prospective purchaser of the
New Haven's holdings of Boston & Maine stock
which amount to los.s4s shares, or approximately
one-third of the entire outstanding capital stock
Opinion in responsible quarters in Wall Street is
that the offer which Mr.. Mellen says has been
ceived has from the Canadian Pacific Rail
way Company; and, like Mr. Mellen. leading finan-
ciers of this city regard it as not 'by any means
certain that a sale will result
An interesting theory has been advanced that the
offer may have a double object, benehting both Of
the reputed parties TO the projected transaction.
The Massachusetts Legislature has objected to the
acquisition by the New Haven OF the Boston &
Maine but is likely be still more averse to
seeing control of the Boston & Maine. and with If
the New England Investment and Security Com
pany-the corporation TO which most of the trolley
roads in Massachusetts, owned by the New York
New Haven & Hartford were transferred last year
pass the Canadian Pacific, a road chartered in
the Dominion of Canada: and rather than accent
that alternative it might withdraw its opposition
TO the New Haven's controlling the Boston &
Maine
The Canadian Pacific. while it rould hardly be
believed TO desire the control of trolley roads in
Massachusetts, which President Mellen saws must
with the New Haven's Boston & Maine stock
would find advantageous control of the
Boston & Maine, which would give the Canadian
Pacific direct ice free harbors at Port
land and Boston. But this arrangement il Is
thought here, would not be favorably viewed by
1he Dominion government which would see
The probable diversion of large freight traffic
the ports which are now the eastern terminals of
the Canadian Pacific, and that government might
IL is argued to the consumnation of the ru-
Inore6 negotiations with the New Haven offer sub
stantial concessions in other direction TO the
Canadian Pacific, just the Massachusetts Legis-
lafure faced with the probability of the turning
over to the Canadian Pacific of the Boston &,
Maine stock owned by the New Haven. might
think il preferable to withdraw it's opposition
the domination of the Boston & Maine by the New
Haven.