Waterbury evening Democrat., 1908-07-10
A MERIDEN BANKER
Gels Possession of ihe Boston & Main Railroad = Trsnsac.
 lion Was For Cash.

New Haven, July 10.-The sale by the New York, New Haven and Hart ford Railroad Co of its holdings in the Boston and Maine road, amount ing to some 10000 shares, to John L. Billiard, banker of Meriden, was consummated in Boston on June 30, and the transaction was for cash.
 MT Billiard to-day in confirming the report of the sale stated that the purchase by him was personal one, and in that sense was a private mat ter. He said that the purchase was of an investment character and re. quired no further explanation than that already given.
 In railroad circles here it is learned that the sale of the Boston and Maine stock entirely and absolutely re- lieved the New Haven road of any interest in that property. Tho sale was made by direction of the board of directors after ar offer of pur- chase at an advantageous figure had been made. Under the Cole bill passed by the Massachusetts legisla- ture, Attorney-General Malone, act ing for the state, obtained from the Massachusetts courts an order re- straining the New Haven road from receiving or participating in any dividends of the Boston and Maine road after July 1, and the sale of the stock prior to that date made unnecessary any enforcement of the restraining order. Among those close to railroad affairs here it is said the sale of the Boston and Maine stock comes as a great relief after the period of anxiety engendered Dv the continued and somewhat pei sistent attacks by Massachusetts men upon the policy of President Mellen in acquiring New England properties to protect his steam road system, and to bring about homogeneous trans portation system throughout the New England states of advantage alike 10 the company and its patrons. It is believed that President Mellen Is fully satisfied to have the Boston and Maine property in the hands of those who will recognize that harmonious relations between the TWO companies will be a factor in the continued de. velopment of the transportation proo. lem. The New Haven management in being freed from any interest in the Boston & Maine has dropped the bur den which for six months grew steadily more irksome and which brought perplexities which became legally intricate. The sale of the Boston and Maine stock had not been unexpected. This sale. it is pointed out, seemed to offer q clear cut way out of the entanglements in which President Mellen found himself through antagonism If Massachn- setts interests before those interest ed in the Boston and Maine had definite idea of what Mir Mellen's policy would be. The sale of tho Boston and Maine holdings gives rise to question as to the time when tue New Haven road Will dispose of its trolley holdings in Massachusetts Since the court order was issued giv- ing the trustees of the New Engand thNNsthiSht anu SttuElsR NO geaT in which to dispose of holdings in Massachusetts trolleys. those trus- tees who are also directors of the New Haven company have absolutely refrained from active interest in troll ley affairs. As step to bring about a change the headquarters of the New England Investment and Securi- ty Co. 1t is understood, are beirg transferred from Boston to Spring. field.