Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-07-09
Financial Operations Of New
England Railroad System
Condemned in Unmsasared
Terms BY Commission In K1-
port Today.


n "N''H"F "FA'""N|NNf WNNN| |I"HH"I N"MHI.EMN .HN
Ierations II the New York. NeM uastn
ana Hartford railroad. ~ ownerahln
~ trolley lines aud c0ntral nf AI||nt
New England railways. are canIa.n1.
"a IN unmoa4ured t0fnfn he fhe lnIaf.
state commerce commlsalon n enc ra4
port Of 10 invogtlGaliur made public
today. The commla1iou's ooncloa0ns
That the "ouisldg' fInancias man-
aEement has becn "uaslciniT ln tha
extreme and that had iha Sew ilatsn
confined llaelc % actual railroad ~.
tivities under the same cuadlflun1
That prevailed Ia other faeDanln iG
could have paid a di8Id4Md of per
cent for the fiscal year 1919 and QAfe
rled 90 surplus account ff,Io8.e0H in~
stead OF showing a dofien ef ets8,s
That sho New Haven'a aaroemona
with the BoBton aud Albany la ''VID-
latlvo 0f the spirit of tha statute
against the restraint of eDmuellsion
aud should be canceilad."
The The New Haven should filoat
Itself Of ia trolley lincr. mot becnuab
ne present eWnorEnIn l1 In tIuIatIou
~ law but D0canNt such rWuof4hlp
might be- usad AZ prevent the building
81 compNsiaB ll4ea " s1o fNouI4
That the Boston ana Maino'a nar-
ger with the New Havea. q permitted
% stand. win result n IAN almost
exclusive monopoly % trannporlaslem
facilities ~ railroads IN the greater
part Of New England"
That passenger train service. With
out considering safety OF operation,
on the New Haven. T. distinctly nett
ter than any other line entering Naw
York and that OF tho Boston and
Maine equally good. Both Foafs.
however are criticised adversely be-
cause of lack of steel caFs.
That the freight service 0f the Boz
ton ana Maine ~ much loaa reliable
than that Of either the ReLsfeNlvnnIa
or thu baltimore and ohio. while that
Of tho New Haven IL slightly Interior
10 the FUnnsyltnuin. bat about ON II
par with the Baltimore ana Ohio
That passenger fsrrs n New HnE-
land have been more favorable q me
local travelling public than lu any
other portion 81 the United HInIt4.
Thai "any beiiaIiuaut 0f railroad
conditions Ia New England mnaf he-
kin with the nasurRncn that thf Now
Haven mHnauement VII AIT uNI 0nfF
prudently hut above an within tbo
letter and spirit of the law"
No orGer Was made by ne esNuis-
alOu but In iia opinion The following
propositions win have rational 8pH'I-
cation 10 all railroads anG ~ az tho
foundations Of adequate Failrpaf res
ulatlon.
Every Intersgsto railroad Aslbuld be
prohibited from eApeudipH mouuy Or
lncurrlng Liabilities or acquiring pro-
perty not IN tire 0peratloH oi sie fafi-
road or IN the leEitlmate iwrroye-
mcnt. extenson Or development of thar
railroad.
"No Interstate railroad should be
permitted 90 lease or purchase any
other railway or 20 acquire the stocks
and bonds Of any railroad not %
guarantee the same. directly or indi-
rectly without the approvai Of the
federal government
'No stocks or bonds shutia hf is~
sued hy an interstate rtiiroad except
for the purpose sanctioned in the two
preceding paragraphs and nome should
he issued without tue approval Of
the federal government"
Tho transactions of President Nel
len IN giving his personal notes %
his own company Tor stock are DIS
oussed al length hy Comniinsioner
Prouiy ON lransuctions 10 New
Haven stock bought with such notes
the report says, thert were profits ~
100000 hut the New hnNenn huntR
do not show 90 what uaa the money
was put Commissioners rrouty says.
''iiis statement waf that the ameant
mao nfeh uhNu m campaign wANtNNl
turcs dusing the summer and fan ~
i80f by direction ~ hia directors and
that they had subsequently ratified
hs act. The September account
showed q payment Va SIR. Mellon ~
$4,000 ia taph which he passed over
"a the Republican uationsi campaign
committee. "a shows a second pay
ment % Mr.. Buckland row tho Vice
president of the conpsnf 81 4t1 0ep
which WAS turned over 10 the Hepuh
iican state committee Of Rhode ial-
and"
The Investigation disclosed thnt
such stock transactions extended over
d considerable period and from lluu
90 time Mellon wac given various
large sums for various PURPOSES rn
stated ou the hooks ~ che ennNenr
ile explained that the aMH1nI4 nN
received were for cemunian soufftu.
ll0ns and for other oxuaEsrN InriH17n8
one item 81 $4,000 coo spent p nhN
ucrtlnn with certain leases NI NNEH
properly in New York c|lf
C'nmmlssIontr pYoulN HatN ms pt'Ht
mission doubts tbs pfuuIioU oi lNt
laNlfy in the hnep|u4 nI NftoNnIa NEt
iwetn MF. Mellcr and bI4 f#Nf
"If" saws thp rnnpIl tNN
] 81 This coFDcfal,eH exNEpNI nH4