The Bridgeport evening farmer., 1913-09-20
WOULD HAVE ROAD
 GIVE UP HOLDINGS
Counsel Asks Why Method Is Not Used Instead Of Fur ther Increasing Fund
 ed Debt.
TILTs FOLLOW QUESTION
Spar Over Attempt To Intro duce Figures Of New Ha- ven Finances At Boston #
 Hearing.

Boston, Sept. 2O-New York, New Haven and Hartford railroad offfciaHs were again asked at the hearing yes berday before the Massachusetts puo-i lie service commission why, n rnci road needs the issue of $67,OOe,OUO bonds which it has pet1tioned Tor, IL does not divest itself of some of it's rtaau1sT,ip holdings and use the pro- reeds instead of further increasing it's funded debt
 The question asked by H. 1arue Brown. counsel for the commission, in s,is examination of Justin w. Lester, S91e- oor7rraission.s accountant, followed zA statement from the latter as to the eGsw Ravens holding and those of it's rtfbsddRary, the New England Navtga- tion company, in the stock and bonds Of x1ae Eastern Steamship company andSths Merchants and Miners Trans porraEfon company It was shown That the Navigation company holds bonds ofithe Eastern Steamship com pany to the amount of $2,43z,500, and g8. S5O y00n of bonds of the Mer- chants and Miners Transportation cornpazry. The New York, New Ha- aen and Hartford atsel9. it was stated, holds preferred stock of the Eastern Steamship company valued rat $1, ,462,- 300, and common stock of $30O,OOO, $nEethers with Merc71antsk and Miners sAock to. the amount of $g,542, 800.
 Theres EVeRer the two biggest blocks of outside stock placed by MT. Brown as among the New Haven's holdings. He showed also other holdings in aeased xzoads,s which brought the New Hawen~s apparent stock holdings in its subsidiaries to $80,134, 6s5- If pressed for funds. Counsel Brown said, the New Haven could probably realize his amount toward it's needs. He asked again, Why should not this be done 7@
 Attorney Browns questions during g the. afternoon developed several tits between himself and Charles F. Choata, counsel for the New Haven and Commissioner Clinton White. MT. Choate at one time referred to the counsel for the commission as the prosecuting attorney and said the New Haven road might appear later as complainant instead of a peti- t1oner- Commissioner White express ed the opinion that MT Browns g questioning was without worth to the commission and only delayed the hearing.
 When MT. Brown sought to intro duce through his questioning of Ac- countant Lester certain comparisons in the compauy's last financial state ment and the examination of the New Haven finances made by Attorney Brown of the Interstate Comm cree Comrnissio on MT. Choate objected -on S-AONN incomplete
 Commissioner George H. Anderson then interposed fthe statement that the conn mission ought to have the benefit of this information sseyen though he said f'it was prepared by the Interstate Commerce Cornnais- sion accountant at the direction of Commissioner Prouty who has since been charged with being unfriendIy to the New Haven.'' Counsel Choate later agreed to the Introduction of certain of Accountant Browns figures provided the subsequent cross- exam nation of MT Brown in which he ad- mftted that his deductions were wrong is also introduced'
 Just prior to the close of the hear ing Counsel Brown took up a. new line of examinadon, that of questfonfng Accountant Lester as to the earning capacity of certain of the New Ha- ven subsidiaries This was sharply interrupted by Commissioner White.
 want to know what bearing this has on the matter before l1s'' MT. White exclaimed, then quickly said
 T am Sack and tired at the waste in time which has resulted from many of therQuestions asked, and the sub jects considered by counsel for the board I want to close this hearing and not waste valuable tfrne.''
 Chairman Frederick D. Mcleod then announced that in his opinion. the comn4ssfon should have the benefit of all knowledge of the New Haven and ftst subsidiaries that were germane to the inquiry. ''I think it perfectly proper for Attorney Brown to show that certain New Haven subsidiary properties have marketa bIe value the securities of which held by the New Haven could be disposed of for the purpose of raising some of the money now petftoued for,'' the commissioner said.
 Just -pEiors to the adjournment Of the hearing until next Wednesday Com missioner Anderson asked Counsel Brown to prepare for the board a statement of what securities of the New Ravens subsidiary companies the road could best dispose of, and at what approximate price This infor- nation Mr- Anderson said, should in clude the earnings, if any, on such stock since it's acquisition by the New Haven, it's original cost and the ap- proximate present selling price