The news-democrat. (Providence, R.I.) 1906-1909, 1907-06-11
FIGHT AGAINST
MERGER GOES ON

OF It's road and did not prevent the New
Haven road from taking control OF the
Boston and Maine.
The old policy OF the state. Mr.. Law
renee was that there should be no private
dealings without public approval and
there is no security under these dealings
for minority investors in road or in the
saving banks OF the state.
Mr.. Lawrence denounced the charter
given the New Haven road from Connec-
ticut under which II car do all sorts OF
things and Mr.. Mellen can say that he
did certain things as president OF "A Con-
necticut trolley company and others as
president OF a Rhode Island company.
The charter 10 the New Haven road in
1871 from Massachusetts, he said provides
that that part OF the property In the
state shall be subject 10 It's laws
Mr.. Lawrence said that one OF the Mas
sachusetts laws Is that railroads shall
have a uniform system OF bookkeeping
and this, he claimed had not been done.
lie read a great array OF figures 10 sup
port this statement and said changes
which had been made I'm the apportion-
ment OF expenses were TO enable the road
TO make "A favorable showing
These things. he said. tend 10 show
that the people do not have adequate pro-
HYBRID AFFAIR.
"The charter OF the New Haven COM
pany." said Mr.. Lawrence, rs a hybrid
AFFAIR. IL permits all sorts OF dealings
banking, trolley companies and steam
ships The company can carry on the
same sorts OF business that the insur-
ance companies did until they were call
ed down by Gov Hughes.
mo one can find" he continued. in
the report OF the railroad comm missioners.
fun and adequate information OF the New
Haven railroad We find that it's stock
f. s5s 10000 but We get no idea of its la-
bilities.'
After Mr.. Lawrence had been talking
for about an hour President Mellen ana
President Tuttle. seeing little chance OF
beng heard az the forenoon session, were
excused by the committee until 3 O'Clock.
After they had left the room, Mr.. Law
renee continued his argument.
Mr. Lawrence claimed that the Boston
ana Maine carried more freight thaa tne
New Haven. and received more per ton
mage mile for doing II. IL cost the NOS
ton and Maine less TO carry freight than
the New Haven he said. on less capitai.
II want 10 call everyone's attention.
he declared, ''to the fact that there Is no
adequate information to safeguard the
public interests. and President Roosevelt
is right when he says that the widest In
formation is the peoples right. WHAT we
need IL the power TO obtain Information
from companies chartered in another state
doing business In Massachusetts.
URGES PUBLICITY.
He urged that the widest publicity be
given regarding railroad leases so that
the public can be protected.
There are no minority stockholders OF
any railroad" he resumed" whose rights
have been so we'll guarded as those of the
Boston and Maine by the states of Maine,
New Hampshire and Massachusetts, and
what we want now Is TO have them still
further guarded against this Hartman
Standard oil combination. with it's MIL
IONS OF watered stock. The stock of the
New Haven road has already been water
"A and now we have this road, with the
standard oil and Hartman back OF II,
trying 10 get control OF the Boston and
Maine, and this change In the codfica-
lion OF the laws has enabled the New
Haven road to say; You tried to get this
two years ago, but you did
not get Il. and now you cannot have 1t
Men who do these things, az President
Roosevelt SAYS do more 10 undermine
public confidence than all the politicians"
Mr. Lawrence scoffed at the idea that
the Canadian Pacific road wanted the
Boston and Maine.
At this point the hearing was adjourned
until p. m.
II was expected that Mr.. Lawrence
would conclude his remarks soon after
the opening OF the afternoon session.