The morning journal-courier., 1908-07-16
NEW HAVEN ROAD
 CUTS EXPENSES
Company Saving $3oo,oOo a Month in the Car Service
 Department.
SMALLER OPERATING COSTS
No Attention Given to Question of Reducing Dividends or Raising
 Freight Rates.

Vice-President Byrnes, of tho New York, New Haven and Hartford, in discussing present traffic conditions on the lines of his road with n repre- sentative of the Boston News Bureau yesterday, said. according to a special to the Hartford Times:
 q think our net earnings for the month of July will very nearly, if not quite, equal those of July, 1907. We will be able to accomplish this largely through the cutting down of operating expenses. A year ago we were paying DO cents per day rental on 22,00O for eign' cars To-day there are only slightly over 10000 foreign cars on our rails and the per diem charge is only 25 cents Furthermore we have 12,000 new cars which we did not have Il year ago, and one-half or more of this number are on other lines, from which we are collecting the regular 25 cents per diem.
 Tn our car service department alone, therefore, we are saving at least s300,O00 per month as compared with conditions year ago. This Is a large item in itself. Of course. we have instituted many other economies which the depressed conditions of gen eral business have forced upon us, but you may deny the statement that any consideration has been given the question of advancing local freight rates.
 "Of course. 1t goes without saying that if business does not improve tho railroads of this country will be obliged to advance rates or cut wages They may have to do both Many of our best railroad properties are not to-day earning their dividends but, 50 far as the New Haven road is specifically concerned, we have given the questions of rates and dividends no consideration. We are just enter ing the first quarter of the new fiscal year, and 1t is too early to predict what action will be necessary on these matters covering the next three months.
 Last May in point of gross earn ings was very bad month for our road, the receipts being something like $700,000 behind those of May year ago. June was somewhat better, and think July will show stil further inn provement. although 1t will be small Stocks of raw material have reached such low point that partial replenish- ment, at least, has been forced upor many mills and factories, and A little larger tonnage of freight seems to bc moving in consequence"
 With regard to the recent sale Q New Haven's 10000 shares of Bostol and Maine to John l., Billiard. MT Byrnes says:
 While l am not familiar with thu details of the Billiard purchase, MT Mellen tells me that there is absolutel, no string to it. that the New Havei has completely surrendered it's contro over this block of stock, and that th' new owner can do with 1t exactly a he pleases If he Is disposed to dc mand the election of new Boston ant Maine directors he can do so, and h. can exercise the same privilege witt respect to his stock as accrues to an individual holder, large or small.
 "Of course, 1t is not to be presume' that MT. Billiard will vote his stock il manner prejudlcial to the interest of the New Haven road We woul not have sold 1t to hiu if we though