The Birmingham age-herald., 1914-06-05
Says Road President Did Not Offer Himself as
 VicariOus Sacrifice
VOLUNTARY WITNESS
 AT NEW HAVEN PROBE
Williams on Stand Early in Day Completes Testimony-Recalls No Instance of Morgan Trying
 to Dominate Board

lens recent testimony that he' aS piesi dent of the New York. New Haven and Hartford railroad, allowed himself to be indicted in the Grand Trunk case to shield the late J. Pierpont Morgan was hatly denied before the interstate commerce commission today by Lewis Cass Led ward of New York, a New Haven direc- tor at the time.
 q want to say in the most unqualified terms MT. Ledyard declared, that MT. Melen did not offer himself a vicarious sacrifice for MT. Morgan"
 Telling of the letter in regard to the Grand Trunk investigation to the United States district at New York, written by Mir Mellen in the presence of E. D. Rob bins, counsel for the New Haven. and himself, MT. Ledyard said: That letter was not the letter of man accepting responsibility, It was the letter of man claiming innocence"
 Voluntary Witness
 MT. Ledyard took the stand as vol untary witness in the commissions in- vestigation into the New Haven's finan- cial affairs, and was not sworn. The subpeenae issued for him sometime ago had been withdrawn but he urged that he be allowed to make statement. Earl fer in the day William skinner completed his testimony begun yesterday. He said he could not recall any instance in which MT. Morgan had tried to dominate the board of directors
 MT. Ledyard said that when he began to take an active part in the affairs of the New Haven about slS,o00,0o0 already had been expended for the acquisition of the Westchester road. He declared he knew nothing of any transaction with for mer Police inspector Thomas F. Burns of New York or of any negotiations with politicians.
 Taking up Billiard company matters Mir. Ledvard said:
 While I was in Europe in 1908 the Boston and Maine stock was sold to MT. Billiard and after my return l asked Mir. Mellen if the sale were outright or dummy transaction. He told me the sale was made outright
 Asked for Information
 
 setts legislature asked the New Haven board for certain information regarding the Billiard matter At the meeting in January l again asked MT. Mellen as to the sale to MT. Billiard and he told me that 1t was bona fde transaction.
 T asked who Billiard was and he re- piled, He is a wealthy Connecticut man asked why the sale was made to Mir Billiard and MT. Melen replied that it was because Billiard was a friend of the New Haven interests. then inquired why this was not mentioned in the re- ply to the Massachusetts legislature MT. Mellen became excited. He seemed to think I was showing lack of confidence fin him. Later, the answer to the Mas sachusetts legislature was amended in accordance with my suggestion. Mir. Ledyard said several important things happened while he was in Europe in 1909.
 'In the first place. he stated "the suit brought by the government as a result of the acquisition by the New Haven of the Boston and Maine was discontinued. This was on June A. 1909 and confirmed the opinion of MT Olney and myself that the acquisition of the l Boston and Maine was not violation of l the antitrust act.
 Bill Approved
 | "The bill to authorize the incorporation 1 of the Boston Railroad Holding company l was approved by the governor of Mas lssachusetts about that time and the Bil- 1 lard contract was executed, and on July | g. by the railroads of both the New Ha- ven and the New England Navigation company.
 By the time I returned home Mir BiI- lard had sold back to the Navigation company the Boston and Maine stock. went to a meeting of the executive com mittee of the New Haven board on De- tober 2. I was outspoken in expressing my opinion regarding the Billiard transac- l tion and the big profit that had gone to MT. Billiard. MT Morgan also was angry about the matter. The dissatisfac- | tion shown believe. resulted in Mir. Mel len afterwards saying that the profit could be cut down, but no resolution was adopted at the committee meeting. have examined the records of the meeting of the directors on October 8. 1909, and 1t 1 appears a report was read then of the | meeting of the executive committee on l October. The resolution incorporated was in the form which was familiar and am quite sure 1t was adopted after the executive meeting. The board ratified the record. I do not understand the subse- | 4ecsie cSOiu WiiiCH iihS bCcii icdb bCi Cs 1 in which allusion is made to President Wilson having come 70 some arrange ment with Mir. Billiard. I do not recall any such record.
 1 "A year later on my return from an other trip abroad I saw Mir Mellen in l New. York and he told me he had learned an erroneous record in the Billiard case 1 had been made in the minutes of the New Haven meeting. He said 1t was misleading and might make trouble. He said to me, You know we never owned that stock or made the profits. That record indicates that Billiards profit be- longs really to the New Haven. MT. Melien wanted to change the record. but reminded him the laws of New York strictly forbade anything of that sort" Grand Trunk Wanted 1 Mir. Ledyard said he did not think any l thing he could say regarding dividendl would be as important as figures the New Haven would furnish. or possibly had furnished. Coming down to Grand Trunk matters. Mir. Ledyard said: "In septem- Der. 1912 Mir. Morgan, who asked him tc postpone a trip abroad and attend tho next New Haven meeting at which, MT l Morgan said. Mellen was going to lay ] before the directors something in rela. ton to the Grand Trunk. I wanted tt ]
 (Centinuea on PaGe UiGht)