The morning journal-courier., 1908-10-17
A LEGAL MERGER.

A LEGAL MERGER.
 There can be little question but that the latest developments in the Boston and Maine railroad will be met with general approval all over Now Eng land. The press of Connecticut, at any rate, is unanimously pleased. II any howl Is raised, it will be in Massa. chusetts. In Boston there has been some agitation to obtain if possible home control" of the road, but If that has not come. Massachusetts has only itself to blame, for, as the Springfield Republican says: Nothing was done to keep the Boston and Maine in the hands of Massachusetts people. The road was for sale and the New Haven seemed to be the only buyer. Boston declined against the merger: but 1t manifested no disposition to buy the stock, notwithstanding the fact that millions of Massachusetts money was available for homo investment"
 The above statement brings us to the one matter of supreme interest in the whole incident. It has been stat ed that Mr, Billiard acted as an inter- mediary of Mir, Morgan when he made his big purchase of B. & M. stock some months ago, If he did, he un- doubtedly acted in the interests of the New Haven road, of which Mir. Morgan Is one of the most prominent directors and owners on the other News Bureau, which generally comes as near the truth in such matters as any, that the sale was not consm- mated in the interests of Mir. Morgan. Tt can be stated on authority" says that bureau, than which none is higher. that neither Mr. Morgan nor his firm has any interest in the Bil- lard purchase, and, in fact il is doubt full if he knows anything about the Billiard transaction, unless he has read 1t in the newspapers.
 Nevertheless, be that az 1t may  there can be little doubt but that the recent E. & M. developments will make toward a consolidation of the interests of the northern road with the New Haven system, such as can not be objected to by the federal gov. ernment as being illegal There can be little doubt in the public mind that Mir. Billiard and Mir. Mellen are "close' even if MT. Billiard and Mir. Morgan arc not. The fact that they are both on the board of directors of the Sec. l ond National bank of this city is ont proof of this fact The president oi that bank is Samuel Hemingway, an, other of the newly elected B. & NJ l directors, and a brother of James Hemingway, of the Second Nationa bank and the New Haven road boards On the board of directors of the Sec ond National bank, too, are the fol 1 lowing well-known men: Charles r Brooker, Frederick F. Brewster ant Arthur D. Osborne, the first two O whom are now New Haven road drec tors and the latter of whom is now "has been."
 It may be assumed that the B. ( M. will henceforth be run in sympath, with the New Haven system and Nev Tnglanders may well rejoice that
 way has been found to surmount tn
 federal difficulty The public will b
 better served because of the presen legal merger. As for Massachusetts as the Courant says; "1n due time tn
 foolish policy of Massachusetts vii be abandoned. but we trust that mean
 while the management of the tw
 roads will develop through trave facilities. Perhaps, if the two proper
 ties under their present management can work out scheme which show the benefits of merger, that fin if
 self will be sufficient to do away wit
 the foolish prejudice that now exists. Nothing ought to please the railroa interests of this section more at th present time than the news that tn federal government had abandoned it
 suit against the New Haven becaus of the latters so-called illegal merge with the tB. & M, which has since bee dissolved. If there was a merger, was not a monopoistic merger, as th } paper has pointed out, in view of tn fact that the roads were not at an point parallel.