New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-06-12

.ne control Of the Boston & Maine road to the
Ne" haven road was the hostility of Massachu-
setts laws 20 invested interests. He saw no dire
results arising out Of the consolidation ana said
that the future Of Boston depended more unon the
huSe OF her citizens than in the policy Of the rail
roads President Tpttle went further and said
that the prosperity Of the country depended upon
Its transportation facilities
AT the close of his remarks only one question
was asked him. and that was whether he would
say definitely II he approved of the merger which
he said he did
Mr.. Brandels then spoke for an hour and as
serted that President Mellen had broken his prom
Use given to the Legislature year ago regarding
the acquisition Of trolley lines
The committee VIII SIT again Tomorrow, hut :,
Is not expected that any more testimony will bs
taken unless the members desire to hear from the
ATTORNEY General
Mr. Lawrence, who IS agent for the Lawrence
estate which has heavy holdings Of Boston G
Maine stock and clerk OF the Boston & Maine cor
poration. was In the midst Of n vehement address
against the merger when Presden; Mellen. accom-
panied by President futile Of the Boston 2 Maine
road and Vice President Byrnes Of the New
Haven. entered the room
No previous speaker had approached Mr. Law
renee In the emphasis and feeling displayed in OPP
posing the plan OF merging the two roads After
having said that the question already had become
political issue among the Democrats Of the state
and urging that II be placed above party strife Mr.
Lawrence. warming to his subject said:
Now. the plan OF the merger is this the New
Hagen road holds in It's treasury So 1000 Of stock
OF the Consolidated Company. The Massachusetts
authorities have tried in vain obtain some In
formation regarding these companies. but Mr.
Mellen has refused 10 give any light"
Mr. MelIen. with Mr. Tuttlc ana Mr. Byrnes
stepped into the Just In time to hear these
words but without a pause Mr. Lawrence con-
tinued. stating that the stock OF both tho New
Haven road and the subsidiary companies Of the
system boUntifuliy watered. He continued:
Mr.. Mellen told the railroad commissioners that
the stock of these companies increased in tho
hope that they would develop through the acquisi-
ton OF connecting links and smaller companies
which would make the investment an attractive
Mr.. Lawrence said that Massachusetts laws which
required the approval Of the railroad commissioners
70 A9 consolidation OF roads that cross each other
had been syaded He suggested that ons4lidGton
certain sections of one Of h Tnad acared s@
that it would not pay expenses.
defective in that they failed to prevent mergers.
and he denounced the charter given the New
things as president of a Connecticut trolley com
pany and others as president OF a Rhode Island
company. Mr. Lawrence said that the Massachu-
Uniform system of bookkeeping but this he
claimed. had been violated He read many figures
no said changes had been made in the apportlon-
ment of expenses to enable the road TO mako a
The charter Of the New Haven company" said
T.
sorts Of dealings in banking trolley companies and
steamships. The company can carry the same
sort Of business that the insurance companies did
until they were called down by Governor Hughes.
mo one can ind" he continued. in the REPORT
of the railroad commissioners full and adeq ia lie
information Of the New Haven Railroad We find
that It's stock is $6s.o0oCOo. but get idea Of
It's liabilities.
He asserted that the Boston G Maine carried
more freight than the New Haven and received
more for doing It. II cost the Boston e. Maine less
TO carry the freight than the New Haven. he said.
4 want to call every ones attention" he de
clared reverting TO the alleged defects IN the rail
ROAD law, ITO the fact that there is adeCuat e
information safeguard the public interests, and
President Roosevelt is right when he says that the
widest information is the peoples right What we
need Is the power obtain information from COM
panies chartered in another state and doing bust
ness IN Massachusetts.
There minority stockholders of any rail-
road" Mr.. Lawrence resumed. whose rights have
been well guarded those OF the Boston &
Maine by the states Of Maine New Hampshire and
Massachusetts,, and what want now is to have
them still further guarded against this Hartman
Standard oil combination with its millions Of wa
tered stock The stock Of the New Haven road
has already been watered, and have this
road. with the standard OIL and Hartman back
Of H. trying to get control of the Boston & Maine
Men who do these things. President Roosevelt
saws. do more undermine public confidence than