New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-07

vestisations can be made of signals upon
other parts Of the road steps will be taken
to make them right. II they are not now
right
"Here again. however. the work must
OF necessity be slow. because II takes time
TO make proper plans for signals, and to
obtain material from the manufacturers
These large expenditures for steel
equipment and for signals 10 say nothing
of the many other improvements. like
stronger bridges for carrying the heavier
engines that are needed 10 haul the steer
cars, and of the innumerable additions
and betterments that are needed all the
time upon the various parts of the road
mean the furnishing OF great sums Oh
money.
The company is now asking PERMISSION
from the public authorities to issue GER
tain debenture bonds for the purpose OF
financing itself. and II hopes to OBTAIN
that permission and in that way receive
$s7. $50. 600 which will be used 70 pay on
notes and bonds falling due within the
next few months of SIC. o23,75O. leaving the
balance Of 81. 52S 250 for the class of ex-
penditures mentioned.
IF it cannot get the money 1t cannot
do the work. so that il would appear TO
be to the interest Of the public, as muoh
as TO the interest Of the railroad, TO nave
the proposed plan go through promptly,
even If some disagree on the question OF
what is the best way to raise the money
That is a question of Judgment. and
the directors in making up their plan did
what they thought was safest and wisest
at the time in trying TO protect the pres
ent and future of the property.
"As you know. Morris Mcdonald Is
president OF the Boston q Maine and
Maine Central railroads; he and his or
ganiZation will devote their entire time
and attention TO managing. operating ana
developing those properties.
When the bylaws of the New Haven
road are changed Mr.. Hustis will become
president Of that property. He and his
stan will devote their entire time and
attention to that wonderful property and
make II what it should be-the best ana
safest railroad in the United States
IT have recommended TO the board OF
directors OF the New York. Ontario &
Western that they select man for presi-
dent Of that road. so that he and MS
staff may devote their entire time and
attention TO that property
"As chairman, l shall do all ! can 10
help, by suggestion. consultation per
sonal inspection and cooperation with
the officers and men.
The important point however. Is that
each organization will have only its own
affairs to look after, will be accessible 10
the public, will spend considerable ume
on the road and will be- able TO decide
nearly all questions promptly, and, IN
consequence. can give closer supervision
TO ell details, get closer 10 the men, anu
thus gradually give better and safer ser
vice to the public. and help TO build up
the business Of the country. and conse-
Quently Of the railroad.
Later on, when tho subject can Do
reached, the question OF handling olher
properties in which the New Haven road
may be interested will be taken up, but
the most important matter now Is the
New Haven, and to that Mr.. Hustis will
devote all of his time, and Will give the
major portion of mine for the present
There seems to be slight misunder-
standing as to the relations that Mr..
Mellen has TO the present management.
when l left the Northern Pachc Mr..
Mellen very kindly told me that he would
be glad at any time 10 give me any In
formation that he had concerning That
property, and once OF twice | called upon
him.
when | came here he very kindly made
the same offer, but he has retired from
Office and from the board and has no con-
nection. directly or indirectly, with the
present and future policy or the manage
ment of the New Haven company or OF
any of its various properties, or In the
selection and direction Of any ohceTs
working for any of those properties.
81. Of course, deplore more than any
words can express the terrible accident OF
Tuesday last, and ! shall use all means
In my power to create an organization
and TO provide facilities that will reduce
10 minimum the danger of such occur