New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-19
President of Yale University
Chosen Member of Board
at Meeting in Office
of Howard Elliott.
REGARDED AS AUTHORITY
Mellen Resigns Presidency of
New York, Ontario & West
ern, and Is Succeeded by
]. B. Kerr, Former
Vice Pre- sident.

DR.. Arthur Twining Hadley. presi-
dent Of Yale University. was elected to
the directorate of the New Haven road
at a meeting held in the office of Pres
ident Elliott, at the Grand Central Ter
minal. yesterday afternoon. James II.
Hustis. who was drafted from the Bos-
ton & Albany several weeks ago TO
become president of the New Haven
when Howard Elliott becomes chair
man Of the board" was also made
director
DR.. Hadley's election. according to
Mr. Elliott. was first recommended by
the executive committee although the
New England Protective Committee
formed after the succession of disas-
trous wrecks on the New Haven road,
suggested the acquisition Of Mr.. Had
ley as a member Of the directorate.
Since 1885. when DR.. Hadley wrote
and published Railroad Transporta
ton: Its History and Its Laws he
has been recognized as the leading
railroad theorist in the country. The
book has been translated into several
European languages. Soon after its
publication the author was summoned
as an expert witness before the Cullom
Senate committee which drafted the
interstate commerce law.
President Taft in 1910 appointed DR..
Hadley chairman of the stock and
bond commission, which investigated
the question Of bringing future Issues
Of railroad securities under the super
vision and control of the interstate
Commerce Commission. The President
made a public acknowledgment of his
qualification when DR.. Hadley accept
ed the appointment. Soon afterward
DR.. Hadley went 10 Europe and made
an extensive study of railroad methods
in England and on the Continent.
President Taft recommended legisla-
tion 10 prohibit the issue Of stock be-
low par without the consent Of the In
the purchase of any stock in any COM
peting road. The commission in its
report of December II, 1911. sustained
the second recommendation. but It did
not favor federal prohibition Of stock
issues below par. The body advocated
full publicity in regard 10 all stock is
sued by railroads under statutory regu-
lation. II also recommended physical
valuation Of the roads.
President Hadley will be a strong
addition 10 the directorate in every
way" said Mr.. Elliott after the meet
ing. He has made careful study Of
railroading and his election TO the di-
rectorate is most satisfying TO all the
directors. His selection was recon-
mended primarily by the executive
committee"
Charles s. Mellen. former president
of the New Haven. resigned yesterday
as president and director of the New
York, Ontario & Western, a subsidiary
line. The directors accepted the resig-
nation and elected j. B. Kerr, former
vice-president, TO succeed him. Presi
dent Elliott was made Chairman Of
the board" and a director. This is re-
garded as in line with Mr.. Elliott's an
nouncement a few weeks ago, that
active and energetic men" would be
placed at the head of all the New
Haven's subsidiary roads.
The meeting yesterday began at 3
o'clock and lasted until after 6. AT
Continued on sixth page, fourth column.