Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1912-01-11

tenn and South terminal. retired, wefh
out in the service of the New Haven
railroad in 1898. Lucius futile be-
came president of the Boston and
Maine in 1894, which leased the Fitch
burg railroad, Hoosac Fuunel-line, In
July, 1900, when the Boston and AL
bany was leased to the New York Cen
trail. Coupled with the lease of the
Fitchburg was the obligation under the
act to pay about 100000 in fixed
charges annually more than the Fitch
burg and Central Massachusetts roads
had ever been earning
Notwithstanding this, so high was
the credit and financial standing of the
Boston and Maine that 1t raised funds
for the required purchase Of the Cen
trail Massachusetts and to finish the
double tracking of IS miles of the Hoo
sam Tunnel line west of North Adams,
and other improvements, by the sale of
26,147 shares of their stock to stock
holders at $3.50 a share, and by the
sale of 2,909 shares at auction at 1885,
80, and 8 12 per cent bonds at $102.92
between the years 1900 and 1908. In
1905 the Boston and Maine road sold
5000 more additional shares at $172.62,
and S10,0O0,0O0 of per cent bonds at
a premium of $4,000 to pay for ma
road and the Central Massachusetts
railroad and the certificates of indebt
edness; and in 1907 the Boston and
Maine road was doing twice the import
and export BUSINESS of the Boston and
Albany.
This they were enabled to accom-
plish by having 20 miles shorter line
of lower grade in competition with the
Boston and Albany, and by the ability
to fix the rates through their connec-
tions with the Grand Trunk and. Ca
madam Pacific railroads, which the
Fitchburg railroad was unable to do.
President Mellen.
In 1904 Mr.. AIelIen, who was vice
president of the New Haven under
President Clark, was recalled from the
Hartman lines by Mr. Morgan and
made president of the New Haven.
After getting well into the saddle ne
| resumed the fight for getting control
of that important link in the Vermont
valley extension by way Of the Con-
| necticut River railroad, by getting the
| Boston and Maine road itself. He used
| the Hartman method of a literary bu-
| reau in Connecticut, and the assist
&nce Of the tory papers of Massachu-
| sets and the promise of all things
wanted including treHeys, river front
! parks, tunnels, electriications and a
new union station at Boston, etc.
Through the assistance of Lewis
| Cass Ledyard and Charles NJ. Pratt Of
| the Adams Express company and the
| Standard Oil interests in picking W
stock and they being also directors Of
! the Boston and Maine, Mr.. Mellen sue
| ceeded in defiance of the laws in get.
ting a majority of it's stock by 1903
! Since getting the Boston and Maine
| it is to be noted that Mr.. Mellen leaves
| Mr.. Byrnes to entertain the chamber
of commerce and Boston business mef
| at their dinners. while he deyo;es hi.
time to perfectng the Montreal anC
New London line by the. purchase o
the Rutland road and connecting
| with the Connecticut River between
Brattleboro and South Vernon, ant
with the New Haven system at Spring
field.
Not Without System Behind 1t.
TT may be stated here that the Ney
Haven railroad is a Connecticut cor
poratiOn that it's charter requires
majority of its directors and presiden
to be residents Of that state; that tn
state of Connecticut would not appro
pirate, a sti has, 100000 70 rdock
for use at New London, without a rail
road system behind it, or the co-opera
ton of the New York Central an
Pennsylvania railroads, Jointly inter
| ested as heavy stockholders; that tn
I Pennsylvania as well as the New YOr
Central have stations in New YOr
city; that steamer docking at Ney
London will soon be able to transfe
its passengers from its upper deck
into the second story of the New Lon
don docks on a level with the parlo
cars and pleasant waiting rooms, an
land them in the elegant new station
of either road in New York city, owe
"a four track road, in two and one-hal
hours, and in Philadelphia and in Al
bany before a steamer could be docke
in New York.
Was Mr. Morgan joking when h
asked: Why not try New London?
Not much The plans of Mr.. Clar
in 1898 are nearing frWtion."
This review of the situation will b
. read with deep interest by the peopl
of Connecticut who thus get peep be
hind the scenes.
Big business appears to be might
busy and Senator Mahan of New Lon
don seems to be pretty close to the bi
business men-alI of which is likely I
be helpful to New London and Con
nectictt.