The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-07-18
Retirement Excites No
Surprise in Financial
Circles.
HEHAS BEEN UNDER
FIRE OF CRITICISM
Indicted for Manslaughter and
Violation of Antitrust Laws,
He Has Been Centre of Wig
orous Attacks-May Mean
Many Changes in
System.

New York July 17.-Charles S
Mellen to-day rendered his resignation
as president OF the New York. New
Haven and Hartford Railroad Company
and all its allied or subsidiary lines,
including the various railways trolley
lines and water lines which had become
part of the New Haven system under
his management
Announcement OF Mr. Mcllcn's resig-
nation. which is TO take effect at the
pleasure of the New Haven board but
I'm no event later than October next"
followed a long meeting OF the direc-
tors. most OF whom, including William
Rockefeller and j. p. Morgan. were
present.
The brief announcement Of Mr..
Ncllens proposed retirement was the
only official statement issued None OF
the directors would supplement II by
SO much as n word. and Mr.. Mellen
steadfastly denied himself TO all in
reviewers.
EHcitcs No Surprise.
Some of the more prominent members
OF the board earnestly urged Mr. Mellcn
to reconsider his action, but apparently
without avail. In railroad and financial
circles. Mr.. Mellens decision will eX
cite no surprise.
Charles Sanger Mellen. whose recent
management OF the New Haven Road
cism, became president OF that system
in October Of 1903. resiSning from the
presidency OF the Northern Pacific Rail
way at the request OF the late j. +.
Morgan, who regarded Mr.. Mellen as
the man best fitted TO rcorganize the
more or less chaotic transportation
lines OF the New England States.
Mr.. Mellen's immediate predecessor,
John VI. Hall. had managed the road
with all the conservatism which mark
ed the administration OF corporate al
fairs. especially IN New England, dur
ing the previous decade.
Mr.. Mellens advent was the signal
for a vast scheme OF consolidation, EN- :
bracng not only the Boston and Maine
and Maine Central Railroads, but all the
leading steamship lines between New
York and Boston and intermediate
points. as we'll as various and numer-
GUS trolley lines in Connecticut. Mas
sachusetts and New Hampshire.
Alleged Acknowledgement OF the New
Haven road and several serious wrecks.
costing many lives, finally resulted III
definite action. and committee OF New
England stockholders. led by George
Won l. Meyer. former Secretary OF the
Navy, was organized to make an In
vestigation OF the roads affairs. That
committees experts are now at work
on the company's books.
Under Indictment.
Mr.. Mellen is under Federal indict-
ment for alleged violation OF the anti
trust laws and an Indictment for man.
slaughter. resulting from the Westport
Conn, wreck also is hanging over
him.
IL is known that an influential fac
ton in the board faVors the sale OF the
company's water lines and many. II not
all OF its trolley roads. II is believed
the New Haven also will relinquish
control OF the Boston and Maine road
According to an exhaustive eXamin-
alton made by the New Haven system
its assets are estimated at close 10
$500, 900. 900. against liabilities OF
1894 .o00. 900.
The text of the formal statement
announcing Mr.. Mellen's resignation
is AS follows:
Mr. Mellen. at a meeting of his board
CONTINUED On Second Pagel