Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-09-15
He EXPLAINS.
MIR. MeIIen Makes Stale
nlent on Retirement
As President New Yo.k, E.3v
Haven L Hartford.
incorporation OF Port OF Boston
Docks and Warehouse Co.

s Me1len of the New York, New HaS-
on & Hartford IN formal state
ment gives his version of the manner
in which the report Of his retirement
gained circulation. The statement is
IN part as follows:
Some day last week there was re-
ceived hy Mir. Mellen through the
roads press department an article
from a newspaper, which, for rea-
sons that will occur to all. he does
not wish to name. full OF insinGation
and innuendo regarding his connee-
ton with the New Haven Railroad
and stating that his early retirement
rom TIE presidency was foregone
conclusion Of words to similar effect.
This article was presented TO him
with the request from the paper that
he affirm or otherwise the report OF
his retirement
He wrote upon the request that he
was to retire but the date was not
yet fixed,
He believed that was statement.
inc real meaning of which was per-
fcetlY transparents, as in the very ma
tire Of things he must retire some
time.
",dr. Mellen further says that he
vas on the road. extremely busy and
nettled at the article. which he re-
gardod as malicious and the request
for i statement. under the cireum-
stances. he deemed impertinent.
He regrets if people have been
laislol for il was far from his dispo-
sition to be party to any deception.
Mr.. Mellen questioned as to the
dividend outlook says he sees no rea-
son, from anything that has happen
ed to the present time, why consld-
Grafton should be given as to the mat
ter of New Haven dividends
The dividends of Oct l, 1911, has
been declared and has been amply
earned. Unless something occurs more
than he believes is likely to-unless
there is some cataclysm in business
impending which he cannot foresee-
the question of reduction should
never be raised.
The matter of a reduction of the
dividend has never to his knowledge.
been considered in the New Haven
board. and has never been discussed
wit him by any of the directors
President Mellen later. sent out the
following statement concerning the
absence of Gen. Mgr. Higgins:
Mr. Higgins has not resigned as
general manager of the New Haven
road, but has been given leave of alb
sence at his own request until Dec.
81. 1911.
1T is only fair to say, however, that
| Mr. Hi~girs wished to resign but /
tried t. 3e,srada him not to and he
| has consented to hold the matter in
allowance until later date when ne
| will advise me Of his ultimate decision.
Mr. l-&pins had trouble enough Of
Iners.aaI nature to make much
stronger man want to be relieved, but
among all his other troubles he has
had none with his president and Will
| carry with him wherever he goes my
earnest good wishes for all that makes
for his happiness and prosperity"
| further definite step toward the pro
iected extensive industrial development
Of South Boston has Just been taken IN
| the formal Incorporation under the laws
| of Massachusetts, of the Port or Boston
Docks and Warehouse Co., with sl0,OVo'
eco capital. The charter specifies that
| the company is organized for the pur-
4
nose of affording factory, warehouse ana
| freight facilities, with provisions for the
F. transfer of freight to and from faiit""''
and steamship terminals"
| The company has acquired ABOUT %
acres of land on the South boston wa
terfront and it is announced that WORK
will be begun during the coming winter
ON the construction for completion WIN
| in two years of 10 eight-story factories
| 10 1O-story warehouses and an once
hni,ding. at a total cost of about $685. :
coo All structures will be OF steal ana
reinforced concrete.
| New York and foreign financial IN
terests are supporting the project and
about Is per cent. of the company $
stock has been subscribed for by a
syndicate composed of six banking
houses in Brussels, Amsterdam, Paris
! and London, which syndicate has
agreed to underwrite the initial block
! ogi s1e.o0t 900 per cent. 6o-year first
mortgage bonds. These bonds will be