New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-11
TO GET BOSTON & MAINE
CONTROL FOR NEW HfVFN
Trunk Line Opposition Withdro7cn
and Deal BeieueG assured.


tiations looking to that end have been in prog
ress. but one great obstacle to the prospect of
successful conclusion Of those negotiations has
been the opposition of the Eastern trunk lines
growing out Of the control by the New Haven
Of the New York Ontario & Western, through
which the New Haven is enabled 10 bring into
New England over its system ample sup
plies of the product of the anthracite coal re-
gion Of Pennsylvania. That opposition has now
been withdrawn, 1t was learned yesterday from
an authoritative source, the officers Of the trunk
lines having finally given their full assent TO
the project.
According to financial interests identified with
the New Hayen, President Mellen, before de-
Gliding TO enter upon negotiations with the Bos-
Ton & Maine. consulted first of all the New York
Central management. as the New York Central,
through its control OF the Boston & Albany, is
vitally interested in the New England railroad
situation. and it also has close relations with
the Ontario & Western. which has trackage
rights over the West Shore from Cornwall. y.
Y, 10 Weehawken
Whether not the assent OF the New York
Central and the other Eastern trunk lines to the
acquisition Of control of the Boston & Maine
by the New Haven has a condition an
rangement by which control OF the Ontario Il
Western is TO be transferred 10 the New York
Central has been reported, is not yet known.
THREE PROPOSITIONS CONSIDERED.
It had been reported that some decisive action
relating TO the Boston & Maine would be taken
by the New Haven directors at their meeting
yesterday. bat an interest close 10 the manage
1nent said last night that the subject had not
been considered. Three propositions. it is under
stood. have successfully been discussed within
the last few weeks by those concerned in the
Undertaking of bringing the two big companies
together The first contemplated the taking
over Of the Boston & Maine q long term
lease with guarantee Of per cent annual
dividends the stock; the second, the ex-
ecution of a ifty-year lease, with similar divi-
dend guarantee the third, exchange Of Sc
curities of the two companies. Still fourth
proposition. il is reported. has now been put
forward. but its nature has not been ascer-
iained.
There are objections TO the theory Of a lease.
in the fact that the sanction of the legislatures
Of the several states in which the Boston &
Names lines are operated must be obtained
for the executing Of a lease. and it has been
thought that such consents may be difficult TO
obtain. in these days of popular distrust of
and hostility to railway combination. But it
may be noted that the policy of the New Haven,
il the course of the growth of that system TO
its present size and strength, has been that
Of fostering local interests in its territory and
cutting down rates and that the result Of that
policy has been 10 gain for the company the
good viii OF the communities served by il and
give it a reputation which may serve II in
good stead If appeal shall have 10 be made 10
the legislatures Of the states in the Boston &
Names field.
THOSE WHO. HOLD STOCK
The largest shareholders Of the Boston &
Maine are the American Express Company, own
ing 10000 shares; the Lawrence Estate. of Bos-
ton. 5000 shares, and the Charles Pratt Estate,
OF New York, holding 1900 shares. One Of
the few other large shareholders is the New
York Central & Hudson River Railroad Com
rany. which, according 10 its latest annual re-
port, bought last year 5,74S shares There is
understood TO be no basis for the report fire.
quently published that the New York Central
desires TO secure control Of the Boston & Maine.
The holdings Of the four interests just named
are together only about % per cent OF the total
Boston & Maine stock. the ownership Of the re-
naming - 10 50 per cent being widely scat
tered. The stock has of late had sharp ad-
vance in the Boston market, and closed yester
day at 1GS
II may be that an effort is under way TO pur-
chase in the open market enough stock to give.
with the blocks held by the Lawrence and Pratt
estates and the American Express Company.
clear control to the New Haven, as the Boston
Maine itself controls the Maine Central
through ownership Of an actual majority of It's
stock. That the New Haven would be able to
Pay for majority Of the stock of the Boston
& Maine without having recourse to the money
market for a heavy loan is believed to be the
fact
OTHERS MAY pE INTERESTED.
Il IS understood TO be not unlikely that the
community Of interest idea may be applied in |
the taking over Of the Boston & Maine, some OF
the Eastern trunk line presidents being invited
to enter its board Of directors by the New Haven
company.
Like the Neg Haven system the Boston &.
Maine has grown from small beginnings by
fuccessive absorptions of other roads to a |
position Of virtual monopoly In it's portion Of
.e territory embraced in the New England !
SoLates. It's lines connect with the New Haven's !
5iIes at Boston. AT Lowell, at Fitchburg at |
n, worcester ana at Springfield, and make a net |
~oIk spreading through Vermont New Halup- |
@ ,lIle aLa Maine, as the New Haven's lines |
Massachusetts anu
'NE INDEPENDENT LINE LEFT
,, WIN 'he New Haven master Of the Boston e. |
me Boston Albany being controlled |
We" York Central there would remain
tha roti - independent road in New ENGLAND |
T1ondn1 "a - Hetinont-whch extends from, Ne,,
II reaches sg-.,.p - leouse's Point N Y whence |
Trr1,nll - Iohtreal and Quebec bv the Grand |
stock majority Of its capital |
Herg Yorl sIte Control control Of the Boston G. Araire tho
Strengthen IT,. ,.rtiVeh rii1dVeh q Hartford win alcn
Tor II VIII De enabled Ia ci Niaries w Morse /
Nlrec -. - - isi'' originating territorr, 10 NJ
,.iee .,,t 9leailefs to Boston rnjgbt ~
I5e ~ q satisfactory proportion 80 sut p other-
,taHlll1g that port over the Pnat vi me traffic |
ihSs. The Grand Trunk cone y, q Maine's
ana = line Of Morse steamers To- no 10 Portland
rat ffi,. F,..