The daily morning journal and courier., 1907-07-01
NEW DIRECTORS OUT.
Messrs. Pratt, Ledyard and Olney Re-
 sign from New Haven Road.

Messrs. Pratt, Ledyard and Olney Re-
 sign from New Haven Road.
 Charles M. Pratt, Lewis Cass Led yard and Richard olney, who were re- gently elected directors of the New York, New Haven & Hartford Railroad company, resigned Saturday. MT. Olney had not yet qualified, so he did not technically resign, but declined to serve. The cause of their withdrawal from the New Haven directorate was said to be the passage of the merger law by the Massachusetts legislature. Messrs. Pratt, Ledyard and Olney are directors of the Boston & Maine, and were elected to the New Haven direc- torate when interests identified with the New Haven company acquired con trol of large block of Boston & Maine stock and the merger of the two com panies appeared to be a certainty.
 The railroad authorities believe, it is said, that with the meeting of the next Massachusetts legislature, with state political and party influences quiescent the legislature and corporations will be able to reach an amicable agreement as to the merger It is authoritatively stated that within the last week there have been additional acquisitions of Boston & Maine stock by the New Ha- ven company until the total amount held is now nearly one-half of the en- tire outstanding Boston & Maine capi- tal stock, This In itself assures practi- cally the New Haven control of the Boston & Maine company.
 The New York, Ontario & Western Railroad will remain in the control of the New York, New Haven & Hart ford until at least the first of the year, according to the statement made Sat urday by a representative of the New York Central The latter company has an option on all the New York, On tario Western stock, acquired by the New Haven three years ago, which runs until August | By the terms of this option the New York Central was to get it's stock at $45 a share.
 l The representative of the Central 1 said further that at meeting of the executive committee held recently it was decided not to exercise the option to buy the stock at present, owing to the condition of the money market, which made it inadvisable to attempt to raise funds for that purpose. He 1 said, however, that the option had been extended for six months, but that whe- ther or not the New York Central would buy controlling interest in the Ontario & Western would depend en- tirely upon financial conditions. At present, he said, the road was using all it's available money for improvements. l A well informed interest said Satur- I day that the principal reason why the Central was not going to exercise its 1 present option on the stock of the New | York, Ontario & Western, now owned by the New Haven, was because the Massachusetts legislature had passed the merger bill, which made it uncer- tain whether the consolidation of the Boston & Maine and the New Haven roads could be effected, and that while this uncertainty lasted the New Ha- ven would not let 80 of the controlling interests in the New York, ontario & 1 Western, option or no option.
 The net earnings of the New York l Ontario & Western for the fiscal year will probably show an increase of from $500 900 to $85OOO0. If this is correct tht road will earn in the neighborhood oi 8 1-2 per cent on it's common stock ir the current year, as compared with a little more than per cent. earned last year. The dividend, 1t was sat@, would remain at per cent, a year. This would leave a balance of about $709,. 900 for the year, which would be used | fnN it1onrovaOaante