The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1913-07-18
MELLEN
HAS RESIGNED
Announcement Made by the
New Haven Railroad Di-
rectOrs Yesterday
TAKES EFFECT NOT
LATER THAN OCT. l

To Leave All of the Allied Lines-Ac-
tion Not Unexpected in View of
Criticism from Various Sources of His
Administration of System
NEW YORK, JULY 1S.-Charles S.
tion az president of the New York, New
Haven & Hartford Railroad company,
and all its allied or subsidiary lines,
| including various railways, trolly
roads and water lines which had be-
come part of the New Haven system
under his management.
Announcement of Mr.. Mellen s res
lignation, which is to take effect sat
the pleasure of the New Haven board,
but q in no event later than Oct. /,
next followed a long and earnest
injecting of the directors, most of
whom. including William Rockefeller
and J. p. Morgan, were present
| The brief announcement of Mr.. Mel
len s proposed retirement, couched in
less than two score words, was the
only official statement issued. None
of the directors would supplement it
/ by so much as a word and Mr. Mellen
stedfastly denied himself to all in
Iterviewers.
1t is understood that some of the
more prominent members of the board
earnestly urged Mr.. Mellen to recon
slider his action, but apparently with
out avail In railroad and financial
circles Mr.. Mellen s decision will ex-
cite no surprise In fact, during the
day in Wall street and elsewhere it
was generally expected the day would
mark virtually the end of the Mellen
administration.
Mellen Administration.
Charles Sanger Mellan. whose re-
fcent administration of the New Haven
road has given rise to considerable
Icritieism, became president of that
system in October, 1908, resigning
from the presidency of the Northern
Pacific railway, a Hill road. at the
request of the late j. F. Morgan, who
regarded Mr.. Mellen as the man best
chaotic lines of the New England
states.
Mr.. Mellen's predecessor, John NJ.
Hall, had managed the road with all
the conservatism which marked the
administration of corporate affairs, es-
lpecially in New England, during the
tprevious decade. Mr.. Mellen S advent
was the signal, however. for a vast
lscheme of consolidation. embracing
not only the Boston & Maine and
Maine Central railroads, but all the
leading steamship lines between this
point and Boston and intermediate
tpoints, as well as numerous trolly
lines in Connecticut, Massachusetts
and New Hampshire.
The capitalization of the New Ha-
; der the continuous OUTLAWS accruing
from the acquisitions, which later in
eluded the New York, Winchester 6
Boston railroad. Other acquisitions
: which helped to increase the New
:, Haven S burden were the New York
Ontario & Western and Rutland lNt.)
J railroads.
Decline of Stock.
The steady decline of New HaveI
shares in the local and Boston stoel
markets has been matter of com
ment for several years. New Haver
! shares, which for many years solo
, at and above 200 and for a long periot
! ipaid dividends at the rate of PEI
, cent, recently sold under par in an
ticipation of cut in the dividend
which was reduced to 6 per cent.
: Alleged mismanagement of the New
. Haven road and several seriou.
wrecks, costing many lives, finally re
suited in definite action and com
mittee of New England stoe khold
ers, led by George Won l.. Meyer, for
mer secretary of the navy, was organ
lied to make investigation of the road
affairs. That committee s experts ar
now at work on the company books
but its report may not be known fo
| several months.
II Mr.. Mellen is now under indictmen
in the federal courts for alleged viola
/ tiOn of the antitrust laws and al
indictment for mansaughter resultin;
from the Westport (Conn) wreck o
| last year is also hanging over him.
II 1t was expected that the New Havel
| directors would take up the finding
and recommendations of the interstat
commerce commission, which reeentl
| scored the management, not only fo
| its methods of operation, but for it
1 financial methods as well. According
l to reports, however, all consideration
l of these matters was deferred
Elliot Suggested.
II Tt is known that an influential fac
tor in the board favors the sale o
the company's water lines and many
if not all of its trolly roads, So fa
as it can be reasonably accomplished
also it is believed the New Haven wi
relinquish control of the Boston
Maine road
tion made by the New Haven system
II