Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-06-12

Boston, June 1.-THE merger hear
| ing at the state house today brought
before the Legislative committee on
| railroads the two greatest authorities
| in New England on transportation,
President Charles S. Mellen of the
| New York, New Haven & Hartford
| Railroad and President Lucius futile.
| of the Boston & Maine Railroad, both
| of whom gave their ideas of the causes
| direct and indirect, leading up to the
control of the Boston & Maine by the
New Haven road. Both gentlemen
agreed that Massachusetts laws were
| sufficiently drastic to safeguard Mas
sachuSetts interests and at the present
| time no legislation was necessary.
Later, perhaps next year, the New
| Haven road may ask the Legislature
| for its approval of the merger.
The two railroad presidents were
heard ir succession during tie after
noon session, the morning being given
| to William Il. Lawrence, of Medford,
| stakeholder in the Boston & Maine
| who made a vehement and lengthy
| speech in opposition to the merger
i during which he claimed that the stock
| of two of the subsidiary companies
| Of the New Haven road was cnnSii
| erably ''watered." At the conclusion
| of the addresses of the two presidents
| in the afternoon, l.. ID. BrandeiS, the
attorney for Mr.. Lawrence, again adj
| dressed the committee. and, at the con-
| ClGSiOn of his remarks, at the request
| of some of the members. presented
! second bill Of q general nature, which
| he claimed would prevent further con-
| soliddtion of Massachusetts railroads.
| or even their being controlled by out
| side companies. Mr.. Brandeis told the
| committee that it was better to pass
| the merger. but if any bill was favored
| it should be of the most drastic nature
| The addresses of the two presidents
| however. were the features of the day
Mr.. Mellcn told the committee in
| response to questions that if the New
| Haven road had not secured control
of the Boston & Maine few weeks
| ago through the efforts of interests
| shat were identified with or favorable
to the New Haven road, the control
of TIE Boston & Maine would have
been secured by the New York Cen
| trail Railroad Co.
Interests favorable to the New Hav-
|
| 100 600 shares Of Boston & Maine
| stock
Mr. Mcllen's remarks. both in his own
| behalf and in answer TO questions by
the committee. were the ones which
were most eagerly listened to during
| the days proceedings He told the COM
mittee at the outset, in answer to the
stock watering arguments Of Mr.. Law
| renee, that thclc was not one dollar Of
the capital stock of the New Haven
road that did not represent more than
100 cents. He said that since July l,
1909. the New Haven road had expend-
ed over $3.50 600 600 in improvements
and in the securities Of other compa-
ries Ic declared that he had kept cv-
cry promise which he had made to the
Legislature q 4 hearing year ago,
when he said that he would not at
tempt t. secure any more trolley lines
| in Massachusetts. He admitted, how
ever that stree then the New Haven
co. has purchased control Of the Rhode
Island co. ana had found in its treas
ury the stock of the Interstate Rail
way. which he'd n trolley line running
into Massachusetts. a similar condtioS
=
ticut Co, having a line near the Mas
sachusetts border. All these purchases.
however. We're made since the present
il LEGISLATURE began its session.
In answer to questions by the com
mittee as to the method employed in
obtaining control Of the Boston &,
Maine, President Mellen said that his
attention was called to the fact that
certain stockholders of the Boston &
Maine desired to sell their interests. He
Twas also told that unless the New Hav-
en- road acted quickly, another rail-
road. which he afterwards admitted
was the New York Central, would cap
ture the Boston & Maine. Stock of the
Boston & Maine road to the amount Of
100000 shares was then taken up or ac-
CURED by interests favorable to the
New Haven road.
| Senator Valley, who spoke yesterday
in opposition to the merger, was per-
mitted by the committee to ask Mr.
Nellen a number of questions relative
to the relation Of these interests Of the
New Haven roado. Mr. Valley tried Il
/. obtain from President Mellen n prom