New Britain herald., 1914-05-07

suffering no toss and making no profit, except a fair commission.
 NIari<es Falling One.
 The statement further says that the market was :l falling one, and the shares were not sold. In accordance with the verbal agreement, the shares were turned back upon an account ing, so that the Billiard company n" ; ther lost or made a dollar by the transaction.
 Continuing MI. Billiard said that the shares of Boston and Maine stock he bought subsequent to the original pur- chase from ne New Haven of 1O9,- 94S shares, h. sold at the best price obtainable from the Boston Railroad Holding company. The price was au proved by tho Massachusetts railroad commissioners, and as he recollected i, was $l5O share on the common stock and $1oO tn the preferred.
 Had No Associations. NO officer or director of the rail- road company" he continued, twas in any way associated with me or had any interest in my transactions in Boston and Maine stock or in the Billiard company.
 When the Billiard company was in process of liquidation I told President Mellen that in order that he should feel that. if anything happened to me, he was in a position to protect the in terests of his company as creditor of the Billiard company, I would deposit with him nearly all of the certificates of the Billiard Go. stock endorsed in blank. to be returned to me at my re- quest. When he resigned as president he asked mesif he might temporarily use the certificates as security for a loan of $375,OO0 he desired to make from the New England Navigation company with the approval of it's di- rectors. To this I consented The note to the New England Navigation company was subsequently paid, and the collateral released.
 Resigned From Company.
 ''The charter of the Billiard com pany, as I understood it, lapsed some time ago, or at least the public au- thorities of the state of Connecticut so contended. In process of liquida- tion the company's capital stock was reduced to twenty shares, which were transferred to other stockholders and l resigned as an officer and director"
 Chase on Stand.
 Chief Counsel Folk, at the opening of the hearing, recalled Warren Chase to the stand with view to as- sisting him, by certain documents, in refreshing his memory upon certain transactions, about which yesterday his memory was at fault.
 When recalled to the stand MT. Chase requested permission to make a change in his testimony of yester- day concerning the Metropolitan Steamship company of New Jersey He had been asked where he had got the money with which to finance that proposition.
 II desire to say that Douglas Nich- olson represented me in the purchase of the Metropolitan company securi- ties" said Chase, He was not dunn my. In fact. he is a very substantial man. I suppose he got the money for purchase of the securities from the Assets Realization company which took over all of the stock and securi- ties of the Metropolitan Steamship company. Afterward, in 1910, he dis posed of the securities, except the stock. to Edward T. Canf1eld, a Hart ford Conn.,, lawyer, acting for E. D. Robbins. My recollection is that the approximate price paid was $1,500,- 900. We retained 14,3O0 shares of the stock of the Metropolitan Steam ship company. The approximate of the securities of the Met ropolitan purchased by Canfield for Robbins was $653,O0O in bonds, $400.OOO or $500,000 in gold notes, $5OO.OOO of short time notes; $375,- 900 of other securities"
 After Pacific Company.
 What was the Pacific company?" asked Mr. Folk.
 1T formed the Pacific company" replied Chase, "at the joint instance of MT. Robbins and MT. Goodale."
 What was it's capital?"
 II don't remember"
 What did the. Pacific company
 "I don't want to go into that mat ter replied the. witness. 1T was acting as attorney in a confidential capacity and feel that ought not to disclose information of that kind"
 Did you handle any money for the Pacific company?'
 Refuses to Answer.
 "I refuse to answer responded Chase, "and in addition I don't re- member. refuse to answer any ques- tion at all about the operations of the Pacific company
 Are you willing to take the con- sequences of your refusal?" asked MT. Folk.
 \ II am.''
 Step aside. then" suggested MT. Folk. I'M
 You are directed to answer these questions,' interjected Commissioner McChord, in charge of the hearing. You understand that?"