New-York tribune., 1907-12-12
MAY SELL B. 6 ". STOCK.
Ne7C YOrk, Central and Canadian
Pacific Possible BUYERS.

Boston Dec u-Presdent Charles S. Mellen of
the New York New Haven & Hartford Railroad
said this afternoon, with reference to a report
that negotiations for a sale of the New Haven S
holdings of Boston & Maine Railroad stock were
under way. with prospect of successful consum-
nation
do not feel that negotiations looking to the sale
OF our Boston & Maine stock have reached that
point where | can discuss 1t at any length We are
or letter of any law. The opportunity has pre-
sented itself to us whereby We can dispose OF our our
rpdnstiifve Interest ne t SeW York New Haven
& Hartford although our road will be protected
by contract which will preserve our relationships
1t is said that the New Haven system owns di-
rectly indirectly 9,9is shares of the stock OF
the Boston & Maine road.
President Tuttle of the Boston & Maine Rail-
said tonight that he understood the proposed
sale had been under consideration for two three
weeks and that the transfer of the stock could go
into effect Immediately. He added
The Boston & Maine as a corporation has nothing
whatever TO 40 with this transfer of stock While
we understand that rival road has purchased II.
worrying about the ultimate destination of the
Boston q Maine Railroad system
caIy controlling interest in the Boston & Maine
stock by the New Haven has not hurt our road,
and do not believe that even another rival, the
New York Central. owning this same stock. would
be detrimental In tho long
New Haven. Dec 11-Intense interest has been
aroused here by the statement coming direct from
President Charles s. Mellen at Boston. to-day that
negotiations were in progress for the sale 10 an
other railroad interest of the 9.94S shares OF
ital stock OF the Boston & Maine held by the New
York New Haven Hartford Railroad Company.
which practically controls the Boston & Maine
corporation. At first there lively speculation
TO the interests which were seeking control
The theory that II the New York Central vas
rejected the ground that 1T only with that
company's consent that Mr.. Mellen had recently
secured the Boston & Maine shares. and also be-
cause. after the experience in Massachusetts with
Boston & Albany. opposition to control of the
Boston & Maine by the New York Central would
be bitter If not fatal in that state.
AS a result OF various conjectures, opinion in
railroad circles here last focused the conclu-
sion that the interest seeking the Boston Maine
shares the Canadian Pacific. The strong
financial condition of that company, with its 5000
miles of railroad and through continental lines
and It's connection at such junction points as
Calais Vanceboro. Me: Mattawankeag. Me; Cook
shire Junction, P. O.: Sherbrooke. p. Q. and New
port. VT. gave strong pausbility to their belief.
There is high authority for stating, however. that
before any sale could be made to the Canadian Pa
cifc or any other company the New York, New
Haven Hartford corporation would feel
PEELED offer the Boston & Maine shares first to
the New York Central.
1t is definitely ascertained here that the negota
tions have been in progress only very few days
and have not been discussed by the New Haven's
board of directors. a number of whom, 1t is found
positively had knowledge of the propositions
made President Mellen The board of directors
will meet next Friday. when the proposition will
probably be laid before them. In view of the
past policy of President Melen, 1t is not regarded
likely that the proposition will be accepted
S it would involve the surrender of large part
OF the territorial control for which President Mel
len has been striving for long.
A director of the company. speaking of the mat
ter expressed strong disbelief of the acceptance
any offer. however high. for the Boston & Maine
stock, but added that It might be taken into some
what serious consideration in view of the attitude
of state and federal authorities toward the New
Havens policy of consolidation in Massachusetts
and Northern New England. While he would not
admit that the proposal had come from the Cana
dian Pacific he added that the New York Central
would be likely to oppose any to interests
rival to its own and that in the present friendly
relations of the New York Central and the New
Haven such opposition could not be disregarded
1t is also ascertained here that the New York
New Haven & Hartford Company will not part
with it's Boston & Maine shares without compeI
ling the purchasing interest to take over with
them the Massachusetts trolleys also and will
protect its steam railroad interests by contracts
of the most hard and fast character