The Bridgeport evening farmer., 1913-08-13


 vorlz New Haven & Hartford Rail road which will result in startling in cictnents if the facts are found to warrant them. Attorney General McReynoIds is by no means satisfied with what has been done
 The longer he stays on the New Haven trail the bigger are the tracks he finds.
 me departrnent is now hunting for those who stood in the background. They directed every step of the New Ravens plan of traffic monopoly. It was because c. s. MelIen, president of the New Haven company, choked off the Grand Trunks plan to extend the Central vermont to Providence, which would have interfered with it's mon Dpoly, that the recently resigned pres fdent of the New Haven, was indicted ln December last
 They handled the New Ravens money as they pleased. There were E4O0 900, 900 in assets in the pot Inter state Commissioners Prouty's recent re- port states that in nine years $204,- ,O00.OOO was spent by the New Haven '-outside the sphere of railroad opera rion" or the transaction Prouty com knents=
 lssTn ta,is afra4r $12. 100000 of the New E4aven's money vanished into thin air. Speaking of the purchase of the rr7hode Island troIleys ProJrty said:
 
 ifp0 900 for which it received absolutely nothing"
 It has been represented to Attorney .fzeneraI 1cReynolds that the tremen- l,dous scheme of expansion which char iacterixed the New Ravens manage tmert for the past nine years-the i've New England states in traffic bag had its~origin with the banking mem fbers of the New Haven o1rectoraue h0nIv bv such unheard of extenSt ons Grs tErouEh their banks made possible and hprof1tabIe-
 srcRevuoIde may find that J. P. k,Forxarl Sr originated the plan to g~-ouD all New ESngland's transporta- fffon facilities under the New Haven lcIoak It was alleged that he person. iaTy directed the attack upon the Grand Trunk road, and that when he lrecame incapacitated, his son. Jack Morgan, took his place. With George F Baker, chairman Of the board of the First National bank, and William l1sockefeIler, the elder Morgan domt- hated the board.
 T-o- tr,e present McReynolds will not FChamberiaiu. and Chairman Snafthers kof fhe Grand Trunk, the indict- knent found in DeceQ1ber. He may dis ccerv on further inquiry that the 1op- lsrating heads of these railroads should Hear a comparatively minor share of frhe respcnsibflits- for whatever inffac- tion of law " be found [ Ats the same time, MT. AEcReynolds is tnquiring into the activities of an other banking clique that seems to have attacked New Haven securities | for six, years past. r is believed that r tthey wished to cripple the road, so ithat they might secure it's valuable trolley properties. The western Mas sachusetts trolley roads were sold a flew days ago. During their operations l-though not entirely because of them New Haven stock slumped from 215 Ito par!
 -The following information is before eynoIds-information it may be tRdded, for which no one stands spon- lsoE:
 -@On July 22 1918, the board of diree- l1ors of the New Haven road directed an issue Of $67, ,oOO, GOO refunding bonds lbaaring S per cent. interest They are Ito be issued to the stockholders at par | a-syndicate, headed by the firm of p Morgan & Go, the First National tbsnk, and the National City Bank. are 10 handle the sale of the bonds
 Better terms might have been se- cured for these refunding bonds, which lrapIace $40. .00Oeo0 of per cent bonds IThe day the new issue was announced they went to 1o5 3-4 on the curb when tssued-s That same day the converti- ble gs of 1908 dropped from 114 1-2 tC mo 1-2
 .-Mel1en opposed this issue of bonds At the same meeting J. P. Morgan de- lmanded that ATe1len resign as presi- dent of the New Haven road. Three tort Of four-of the directors of the New iHzven road had assured Mellen o1 tfheir complete confidence in him. But i1rhen Morgan-always supported by lsuterests-took his position, Mellen thought 1t best to accede.''
 3FeHen Lost in March.
 
 circles about the capital. AS long agC az the latter part of March, 1913 lack Morzan-who in July demand ed that Ne1len resign-had been in con- ference with President Howard Elliott Of the Northern Pacific at St. Paul He then told Elliott that MeIlen wal booked for retirement at an early date After two or perhaps three conferences the men reached an agreement by the terms of which Elliott was to bcome the president of the New Haven at a That fact Is to be read in connection with this one=
 In December, 1912, the federal au- thorities had been placed in posses sson of one-half the facts about tht New Ravens, at the time, successful attempt to prevent the extension oi the Grand Trunk in New England That extension would have smashed the New Ravens traffic monopoly if the five states It was perfectly wei known in financial circles that ths. haudeufing of the Grand Trunk wa! the pet project Of J. F. Morgan, ST He had devised the original plan tt robble all the travel money. of tn, Yankee states
 MT. Morgan is iIi,'s said his friends He r1luct not be bothered or worried by this matter"
 So. after that conference with cer- tain directors of the New Haven road President MeIlen agreed to furnish in formaann szDon which his own lndict