Norwich bulletin., 1913-11-12
MELLEN DECLARES HE
 WAS MADE scAPEGoAT.
Former President Gives Inside history
 of New Haven Road.

Charles $. MelIen, in story pub
 lished in the Boston Sunday Post, pre-
 sents from his point of view some in
 side history of the New York, New
 Haven and Hartford railroad for the 10
 years of his presidency. He says that,
 now that he has been abandoned, as he
 views it, by the men responsible for
 the New Haven policy. he is moved to
 tell the facts as they have not been
 told before.
 The following is an abstract of the
 Just to show you how much I had
 to do with the financing of the road I
 will tell you of little incident that
 happened a few years ago. I was trav-
 cling on the road one day when I hap
 pened to meet @ representative of one
 of Bostons biggest banking houses. As
 a note issue was being contemplated
 by the New Haven, I talked with this
 man about the price of money and
 what rate of interest we should prob
 ably have to pay on the notes.
 Told to Mind His Business. "A day or two later I was hauled up on the carpet by representatives of our fiscal agency and told in effect to mind
 Haven wants money, we will furnish
 it, they said, and we don't need ad-
 vice
 And yet the Boston newspapers
 held me up to the public as the man who was leading Morgan around with silken string! No. sir! The man who ! put up the money was the boss of the New Haven
 We won out on our policy of expan- sion because we were in the right, and because we had the power. But the fight had made too much noise. The public was aroused and demanded to
 know the facts. It was decided, there
 fore, that someone must be sacrificed,
 and l was the natural victim I had borne the brunt of the attack because
 1 was the man the public could see Representative of our fiscal agents
 made the necessary arrangements My position was to be filled by MT. Elliott. l knew this in February from friends in St. Paul. My own crowd was work ing behind my back The stockholders protective committee was formed in Boston in the interest of the fiscal
 agents and dominated by them It was simply a blind behind which my work was supposed to be investigated and condemned. As 8 matter of fact, l was condemned in advance.
 But what is left? While | was the operating head, the house of Morgan absolutely dominated the New Haven policies. J. P. Morgan is dead; but control is just as absolutely theirs to- day, and the second generation is working hand in glove with the Boston Machiavelli
 The Boston spiders web reaches well into New York at the present time, and is a large and potent factor in the whole situation. The stockhold- ers' committee with all it's imposing names, and with all George von L. Meyers talk, is nothing more than a marionette Wiggled from the back Of l the Boston MachiavalH
 Why did 1 resign when I did, and why was the dividend reduced? The answer to one question answers the other. I resigned because knew I was to be dropped by the men who were responsible for the financial policy of the New Haven for the past 10 years. ! The dividend was reduced because, knowing that I was to be dropped, knowing that the board had turned upon me, knowing that there were two l criminal indictments hanging over my head for which that board was as much responsible, and knowing that the members of my family were break ing down under the strain, knowing 1 that the wild hue and cry of the news papers were demoralizing the operat- l ing force of the railroad. l was unable to keep expenses down to the normal ratio
 Up to Dec. 1, 1912, there was no reason for cutting the dividend. At l that time I had never looked forward 1 with greater confidence to the future
 
 more than enough to pay the dividend. l We were earning more than ever be- l fore in the history of the company.
 Indictment Terrible Shock. "But then came the Grand Trunk in- dictment This was a terrible shock to me and to my family. But if, at that ] time, the directors of the New Haven 1 road had passed a resolution standing | behind me, the New Haven would not l have had to cut the per cent. dividend 1 this year. If they had stood behind me 1 and given me their support, gone be- 1 fore the annual meeting of stocl1hoId- ! CTS and said they would stand or fall with me, could have pulled it through. l But they did not do so, As a matter of fact, unknown to me. they were all i ready negotiating for my successor. Most of them quit their responsibility and left me to stand the brunt alone. ] They left me to take an indictment 1 that did not belong to me
 Then I began to receive letters frem 1 friends in St Paul telling me that l
 had been displaced, that another person had been offered my position, and that l even the details of salary for the new 1 officer had been arranged, l knew last February that 1 was to go. 1 was only uncertain as to the exact date. And
 under these conditions could you ex-