The Bridgeport evening farmer., 1909-06-03
BILLIARD co. MAY ISSUE ITS STOCK
 WITHOUT LIMIT
(Specia1 from United Press.)

daTIIOrQ, June 3.-Ine cnarIer or the Billiard Company of Metiden which will hold a majority interest in the Boston & Maine Railroad passed the House to-day with only the amendment placed on it last week by MT. Bishop of New Haven. These limit the issuance of bonds to 75 per cent. of the value of it's stock and provide for the filing with the secretary of state a certificate of its action in the purchase of any property. Representative Whiton's amendment limiting the amount of securities of the Billiard Company to $20, 900, 600 failed of passage and the MT. Peck of Stratford was no more satisfactory to the House which re- fused to limit the capitalization of this holding company.
 MT. Whiton made a brave fight for his amendment. explaining that the powers granted in the charter are broad enough to make it possible for the Billiard Company to acquire any amount of securities of any character and issue whatever new securities it chooses on the basis of them.
 ,"The operations of these security manufacturers" said MT. Whiton they are far more important than the mere operation of these public utility corporations and the time has come when we should place a definite limit Ou cdplLdllZdIlOH.
 He felt that $2O 900, 600 was a reason able limit and would permit the Billiard Company to do what it was explained it desires to do, control the Boston & Maine road and enlarged on the fact that while the intentions of the com pany have been explained, the charter specifies the shares of stock of no particular railroad and confines it's business to no limit whatever in real ity. He quoted the Massachusetts measures creating a holding company in that state as examples of specific wording.
 Chairman Parker of the incorpora- ton committee replied that the Massa- chusetts bills are intended to carry out a specific purpose and urged that the interests of the state of Connecticut should be conserved rather than those of the state of Massachusetts. MT. Chandler of Rocky Hill. who has taken a very prominent part in this matter, stated his position to be that of sym pathy with the merger of the B: & M and New Haven roads. He said Massa- chusetts attitude for a few years back had hampered the industrial develop ment of New England. He believed in the merger of the two roads under Connecticut charter rather than a Massachusetts charter and thought that the limit of capitalization pro- posed was unnecessary with the other two amendments safeguarding the is suing of securities and requiring req sonable publicity.
 MT. Bishop of New Haven tried to stem the tide, saying that while he would desire to do nothing. to prevent the Billiard stock remaining in this State or hamper the New Haven road in carrying out any proper purposes with this stock, the granting of so in- definite a. charter might result in fu- ture generations doing things under it's power which no one now thinks of do- ing. The Billiard Company stands be- hind a great public service corpora ton. It should be chartered as any other public service corporation.
 Representative Peck's amendment to make the limit of capitalization $50,- 000, 900 instead of $20, 900 900 was oppos- ed by House Leader Burnes and quick 1y voted down by the House and the Whiton amendment suffered the same fate after which the House passed the bill without further ado.
 The House went into session at 10:3O today and accepted a good days work on it's calendar. Among the matters which received favorable action were: An act prohibiting trespass on land used for storing of explosives; an act removing the secretary of the State Board of Education from membership on the board; an act adding fire dis tricts to the municipal divisions which must make returns to the State Tax Commissioner; an act providing that the members of the Police and Fire departments in the city of Bridgeport may have the same right as to length of service that would be theirs IT they had not been obliged to resign in or der to accept increases in salary; an act providing for Saturday holidays TOT clerks of the Superior and Supreme courts; resolution authorizing the city of South Norwalk to take land for park purposes; resolution reimbusr1ng John L. Edwards, the Beacon Falls game warden who was shot by an Ital- ian, in the amount of $5,000; an appro- priation of $11, ,250 for the military ex- penses in connection with the funeral of Governor Lilley: an act permitting the State Highway Commissioner to take over in 1911 any road built by in- dividual towns which come up to his