The Bridgeport evening farmer., 1911-01-21
100000 OF
NOTES in WEEK
Second 100000 Short.
Time Sold B yNew Haven
Road In Boston
NO EXPLANATION GIVEN
Said to Be Planned to Take
Care Of Expenditures
Soon to Be Met

New Haven, Jan. 21-At the regular
monthly meeting of the directors of
the New Haven railroad in New York
yesterday afternoon, outside of the
general consideration of the $4,000, 000
of short term notes. there was moth
ing done Of local interest except to
approve of the action of the special
committee, approving the new union
passenger station here.
The report of the special commit
tee, composed Of James S. Heming-
way, Chas. f. BROKER, A. Heaton
Robertson, F. r. Brewster and Emory
A. Laurence, was accepted, and then
motion was made to delay the ac-
ceptance of the plans until the de-
tails OF the same have been received
from the consulting architect, Cass
Gilbert of New York, who has charge
of the general design for the whole
made in the plans yesterday.
1t is expected that work on the
new station will begin within two
months.
A genuine surprise was sprung in
the stock market yesterday not only
in this city but in New York and Bos-
ton by the announcement that the
New Haven road had effected another
big loan amounting to $10,000000 on
short term notes at 1-2 per cent for
one year. This coming on top of the
recent loan Of this amount and char
acter which the road obtained early
in the week naturally caused no small
amount of inquiry as to what the
money was to used for. A quest on
was submitted TO President Mellen
on this point yesterday afternoon and
the following answer was returned:
1.-THE New Haven road has borrow
ed or rather sold it's notes to Lee.
Higginson & Co., Of Boston for sec
ond 10000 00O.''
This makes a total of $22, 000. 600
one year notes sold this week.
No further explanation was vouch-
safed upon the matter. Vice-President
e. G. auckland said he did not know
what the new issue was for, and some
of the best known railroad authorities
for this class of information confess
ed last night that they were totally
at sea as to the purposes of the new
issue.
Executive Secretary to Mr.. Mellen,
M. K. Dugan, who had just returned
from the directors meeting in New
York, said there was nothing to be
said upon the matter last night. ''Mr.
ment upon 1t tomorrow" In the stock
market the IL per cent bonds adj
vanced all day.
Judge A. Heaton Robertson, one of
the directors of the New Haven, upon
his return from the directors meet
ing Of the road said last night that
the new loan was a matter Of
finance for no other purpose than to
take care Of expenditures which the
road will have to make, and for the
closing up Of future contingencies
during the market conditions OF the
coming year, according as the direc-
tors of the company may suggest.
There are a million and a quarter of
s per cent debentures to be paid Off
this month, two million IL per cent
debentures to be paid off in May and
about a million of Northampton COM
pany bonds, besides other loans. AL
though he did not say so it is expect
ed that the proceeds of the new
loans will also be used to some ex-
tent in connection with covering the
obligations which President Mellen Is
now mourning in his new railroad
work.