New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-06

had offered 10 purchase the company S
holdings Of the Worcester, Nashua q
Rochester Railroad on per cent
basis. but that this offer was declined
by the finance committee OF the in
surance company. This committee
fixed a price OF 100 which was &C
cepted and ratified at a meeting OF the
New Haven directors on January ~
1910. as already told in The Tribune.
Included in the minutes Of tho spe.
cial committee presented by Mr. Hines
was q letter from Oakleigh Thorne TO
Mr.. Mellen describing the various prop
critics he had bought and the amount
he had paid for them. This letter,
dated December 20, 1906, read, in part:
For your information. we beg to
state that we have agreed TO purchase
all Of the bonds. or 70ia per cent, Of the
entire capital stock Of tho New York,
Westchester & Boston Railway Com
pany. The amount TO he paid for same
10 he the amount expended upon and
FOR the acquisition Of the properties.
we have had the accounts audited
by James. Cesar, Dickinson, Wilmot 6,
Co., and they certify that Sc, I3S,39S %
had been expended, which is therefore
the amount that we will have TO pay.
Amounts To Be Paid.
I'VE agreed to purchase from the
City and County Contract Company
stockholders their stock at cost. ms
company was the company having the
contract to build the New York, West
chester & Boston Railway, and We had
to purchase II in order TO get the rail-
road securities. We agreed TO pur-
chase the stock from the stockholders
at the price they paid for it. This
amount has been certified by the same
auditors TO be ST. 800.
I'VE purchased the entire stock and
bond issue of the New York & PIt
Chester Railroad, which has now $2J.
900. 900 bonds and $25,OOO,OO0 stock an
thorized, for the sum Of 100000.
I've purchased 400 shares OF the
New York Railroad e Development
Company stock, together with a con-
tract to cross Morris Park at cost Of
S1O5. 900. for the sum OF 1898, 800
Therefore the total sum Of $3.50 =
39S 90 represents the purchase price Of
all Of the above securities.
I'VE have already received and paid
for large number OF these securities
and have received from you S4,O5OO0O.
We have agreed TO take the balance cf
the securities and pay for them on Jan
uary 10, 1907; therefore require 81
$40, 39S SO, provided all Of the securi-
ties were delivered on that date and We
paid off all existing mortgages"
Mr. Hines said his reason for in
PRODUCING the minutes containing Mr..
Thorne's letter was that the public
had received the impression that the
Westminster properties were flung at
Mr.. Mellen and that he had no idea of
where the $1,000 900 had gone.
MT. FOLK Threw GOWN inc gauntlet W
Attorney General McReynolds in &C
cepting the offer Of William Nelson
Cromwell TO produce Charles BROKER,
his client, at any time that Mr.. FOX
wished Mr.. Folk said he would be
very glad to have any one at the IN
vestigation who could throw any light
on the matters under inquiry, adding
that he simply wanted the truth.
I'VE are laboring under some en-
barrassment in examining these direc-
tors" Mr.. Folk said. eve have no de-
sire to give any immunity or TO inter
fere in any way with the plans Of any
other department Of the government,