New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-04
MELLEN ASKED FOR
new HAVEN'S STORY
Ordered to Appear Before
Commerce Commission
at Washington.
FACTS RELATING TO
FINANCES SOUGHT
Sale of Roads Interest in Mer.
chants and Miners Boat
Line Reported.

New Haven. April s-Charles S. Mellen.
former president Of the New Haven Rail-
road. was served to-day with Subpoena
by United States Marshal Hawley. citing
him 10 appear before the Interstate Com
merce Commission at Washington on
April 10 to testify concerning the finances
OF the New Haven. Subppnas were
served also on Harry V. Whipple and
Samuel Hemingway. presidents OF two
national banks; Edward f. Field. treas
urer of a large department store. and
Samuel c. Morehouse. lawyer.
Marshal Hawley has another subpoena
for John L. Billiard. the Meriden fnancier,
but has not yet been able to find him.
All the books. records, contracts and
other papers of the Billiard Company the
New England Navigation Company the
New England Investment and Security
Company and the New Haven Railroad
are ordered taken to Washington
Negotiations for the sale OF the New
Haven Railroads interests In the Mer-
chants and Miners Transportation Com
pany to the Mercantile Trust Company
OF Baltimore were in progress, 1t was ad-
mitted In New York yesterday, while
dispatches from Baltimore asserted that
the deal had been contaminated. the
New Haven owns 81 per cent or the
stock. or 25S17 shares, In tho name Of the
New England Navigation Company
which is the holding company for the
New Haven's marine interests.
Howard Elliott, chairman OF the New
Haven board OF directors, would not dis
cuss the sale or the money involved
The New Haven acquired the steamship
line in 1907, when the Merchants and
Miners took over the New Haven
property, the Boston e. Philadelphia
Steamship Company. Subsequent TO that
deal 81 per cent OF the Merchants and
Miners stock was delivered 10 the new
Haven for 100000 The book value OF
the stock I'm June. 1918, was N,5A,5
This stock was deposited In a Baltimore
bank. The Merchants and Miners Line
has long been regarded as local asset
in Baltimore, and syndicate was or
ganized there to acquire II and return
the majority ownership to that city.
The announced policy of the Merchants
and Miners made by the railroad to the
Interstate Commerce Commission Wnen
IL asked to have the road exempted from
the railroad owned steamships Niou'o
in the Panama Canal tolls act was that
the line was operated as an independent
carrier and its policy had not been die
tated by stock control Of the railroad.
(By Telegraph to The Tribune
Hartford, Conn, April BY the time
the special meeting of the New Haven
road is held on April n the Atna Life
Insurance Company may not have any
holdings Of the roads stock, and Morgan
G. Buckley, its president, may not be
qualified as a stockholder TO attend the
meeting Mr.. Buckley said to-day that
the HStna Life had within the last ten
DAYS sold about 5000 shares around TO-
shares that cost much more at the time
OF their acquisition years ago.
Through it's publicity department the
New Haven road denied to-day published
reports that II had sold one of its sub
salaries, the Valley division, running
from this city along the Connecticut
River to Saybrook Junction. on the Shore
Line. IL was rumored that the line had
been either sold or leased 10 the Shore
Line Electric Railway, which operates
along the Sound shore and which was TO
electrify the Valley line.