Norwich bulletin., 1913-05-02
MeI|en to Make
 An Explanation
TO DISCUSS RAILROADS TRANS.
 ACTIONS TODAY.
AT HEARING IN BOSTON
Will Not Be Sworn and Interstate Commerce Commissioner Will Not Permit Him to Be Interrogated.

Boston, May 1-President Charles $. Mellen of the New York, New Ha ven and Hartford railroad, will make a statement explanatory of some of the company'S financial transactions before the Interstate Commerce com mission tomorrow.
 Announcement was made today that MT. Mellen would not be sworn and Commissioner Prouty who iS to con- duct the inquiry into the affairs of the New Haven system, will not per- init him to be interrogated
 Commissioner Scores Railroad. So far as testimony was concerned, today was given over to the continued cross examination of David D. Brown, MeIlen's counsel, 70. F. Choate, Jr. In reality, a large part of the time con- sumed in arguments> between Mr. Choate and Commissioner Prouty, dur ing which the commissioner severely criticized the railroad and some of it's officials for transactions, which in the opinion of the commissioners, were not satisfactorily explained by the records of the company.
 No Personal Profit by MeIlen.
 Various notes given by Mir, Mellen to the New Haven company in eK- change for New Haven stock were ex- plained by the attorney through the experts answers Jas having ben paid in full, and although MT. Brown and Commissioner Prouty agreed that the bookkeeping methods of the company indicated that MT. MeHen had made a profit of s102,660, the commissioner said that he had no doubt MT. MeIlen paid the company, but he wished 8 fuller explanation of the transaction than MT. Choate was able to bring out
 Billiards Profit Not $2,76o,oo0.
 The acquisition of the Boston and Maine by the New Haven and the dealings between the New Haven road and J. l.. Billiard and the Billiard com pany, were introduced by MT. Choate in an attempt to show that the tran sections had been miSrepreSented in the direct examination of MT. Brown and that MT. Billiard did not make 8 profit of $2, 760,0 on the deal as the direct testimony indicated.
 MT. Choate's explanation was left unfinished, as the course of the ex- animation preeipitated a discussion over the value of stock assets carried on the books of the company.
 Old Colony Stock Valuable.
 You are now carrying New Haven stock at S16o share" said MT. Prouty. Tt is not worth it. You carry Boston and Maine stock at what you paid for it; it is not worth it."
 
 stock which was carried on the New Haven's books at par was really worth about e6,000,000 more than was placed against 1t.
 Billiard invested No Money.
 When the transfer of 1os,94s shares of Boston and Maine stock by the New Haven to J. l.. Billiard at sa5 share for s11,000,000 in cash and notes was inquired into, Commissioner Pfeuty said;
 ''De you understand, MT, FCheate that Mir. Billiard had ever invested any actual money in the gold notes of the New England Investment and Seeur- ity eempany?''
 Mot to my knowledge" said the lawyer.
 Billiards Apparent Profit,
 The commissioner declared that Mfr, Billiard had not put up any actual money in connection with the Boston and Maine stock transfer and that there was every indication ,aeeeFdiag to the records, that he had made 8 profit varying frem S2,466, ,666 te sa,- 766,606