The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1912-05-10
RUTLANDR. R. IS TO
GO|NIO HANOSOF
NEW HAVEN
New York Commission Granted
Leave Yesterday
SIX REASONS ARE GIVEN
Commission Says That Minority
Stockholders Lose No Rights
and Incur no Danger

kAlbany, May . ~ =, .,ood oon
Nav Haven & Hartford Railroad ou.a
nany was authorized today py tn
nuhIic service commission 10 acqulle
control of the Rutland kailToau o0'
nanv from the New YORK Cehtl"i
hudson River Railroad COMPANY
Tbe New Ravens application hau
nan onnosed at hearings before the
Oou,niesion by Samuel Untermyer'
ronrasenting minority stockholuers'
on the ground that their interests
would not be fully protected Wi.
An application by the New iolh
Cantral railroad to purchase cohlrol
- tha New York, Ontario 4 western
Poilroad company from the New ma
ven was denied recently ny '"e WIN
mission. ~ minority
stockholders of the Rutland secu 1oV
court order in New York yesteluaS
to nrevent the proposed transfer Vi
control. orip,ous in
~ranting the application today sNins
lis reasons as follows - tho
"1-That the acquisition Oh Ine
o,ooL of the Rutland Railroad com.
namv NV the New Haven company 10
20 believed to be in violation OF the
nto+uta of the United States coilllilon.
-, Known as the Sherman law anu -
~ violation of principles lalu
down in any decision oil the cou meJ
which its attention has Deen ca,iou
"9-That the Rutland railroau ~
connection with its subsidiary Wa'1a
Iina the Rutland Transit company, y
notural route between New Ehe.ahu
1orritorv reached only by the ne"
tIaven road and the West and Nol.n
,nast That the operation OF the hu.
"a nv the New Haven Will III eheo
nonstitute a new through me lloh
Now England to all points reacheu W
~ putland Transit company
80 -That the New York Gent, a.
.Aioh at nresent controls the hu'
,ond is TO material extent com
natitor with the Rutland, whiie' VI
the other hand, the Rutland 10 ~ "
connection with the Boston "" IT.
a natural extension OF the New 80
ven system as at present ope'as s,
and that the natural effect oil the wi
troi of the Rutland by the New haNe
Iii no to increase competition an
sna,,ce very considerable hcreas
&c hns,ness over the Rutland ho'
and 10 New England points. :,
"A~That IL such anticipated Il
oroase of business over the kutian
is realized it will AFFORD auuLlloh'
facilities to the public and De
verv considerable benefit 10 the -
sas and villages reached by the hu
"a in New York and Vermont.
"5-That the commission au -, :,
10 the principle laid down by II IN -
ontario and Western case ina.
transfers of control OF a supsiuia
railroad il should recognize ana pI
foot the rights of minority stocKnol
ers That il does not follow lro
thie nrinciple that in every case u
purchasing road should offer 10 I
,,,inority stockholders the same pr
for their stock which 1t is Wiling
nov for control While such con
lion might we'll be imposed III
oose where the transfer would crea
control by a traffic line which
not theretofore exist, in the prese
10 tho control is now in the han
of the Central anu NhV TO- -
,norelv the transfer of that control
tha New Haven. If the result oil
transfer to the New Haven Is 10
crease the business OF the hu'la
and thereby increase its revenues
viii he to the manifest advantage
the minority stockholders, me p'
tion taken by the Directing minor
stockholders has been That they
now injured by the treatment rec'
cd nv the Central They do not $
aest that the New Haven VIII acc
them worse treatment, while on
other hand the commission IS sa
aed that IL will be to the advahu
of the New Haven to develop the
land materially beyond what II Is
ing at the present time The trans
itself is. therefore, an advantage
the minority stockholders,
"6-That 1t is to the pubic IN
est of that portion OF the stare
New York through which the Rutl
passes that the control OF the roaC
nut in the hands of the New Tia
company, and since this can be q
without apparent injury to the mi
ity stockholders and in the opn
. of the commission with benent
advantage to them, the authorize,
for the transfer should be MADE