New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
N. H. WON'T GIVE UP
BOSTON & MAINE
Continued from page I

the company. sis not necessarily a
violation Of the Sherman law"
Ii also involves, for the present at
least, retention of the trolley COM
panies.
Such litigation, which will be begun
in the federal court in this city, will
take two years to dispose of. Mean
time the two companies, with distinctly
separate arrangements, will continue as
at present.
James II. Hustls. acting chairman o.
the New Haven in the absence Of How
ard Elliott, who is resting at his New
Hampshire home, presided at the meet
ing of the board. With few exceptions
the members. including William Rookie
TELLER. were present The discussion,
which in reality was a continuation OF
the session of the executive committee
on Monday, was confined to the action
OF the Massachusetts, Legislature, AID
the probable action Of Mr. McReynold3
The discussion crystalliZed in this re-
olution. which was adopted:
To reaiiirm the conclusions set
forth by the board of directors in its
statement Of June % regarding Mas
sachusetts legislation then pending
and now adopted
70 express our regret to the At
torney General of the United States
that the conditions on which the
Massachusetts Legislature is willing
TO permit the company to carry out
its agreement with the Department
OF Justice are so different from any
thing which was contemplated at the
time of the original agreement that
the board has not the right TO ac-
cept them. and that they involve such
severe and apparently unnecessary
loss that il ought not to recommend
or expect their acceptance by the
stockholders themselves
The statement referred 70 by the di
rectors. printed at the time in The
Tribune. reviews the negotiations with
the representatives OF the federal and
Massachusetts, government. and said of
the bill then pending in the Legs
lature:
"Unless the Boston & Maine stock
can be sold at a fair price within the
limited time allowed by the agreement
with the United States, the sharehold-
crs Of the New Haven will sustain a
great loss, and this provision prevents
such sale and defeats the purpose of
the United States. unless II is accom-
plshed at a great loss TO the company.
LAS trustees for the company, is owns
ers and creditors the directors cannot
accent the proposed conditions. While
the bill APPEAR 20 authorize them to
sell tie Boston & Maine stock II does
not do 80 in fact. Much as they re-
cret the necessity Of recourse TO the
courts. they are left no option in this
matter, If the bill passes in its present
form"
The directors had before them when
discussing the action Of the Massa-
chusetts Legislature a letter written TO
the company by George W. Anderson,
OF the Massachusetts Public Service
Commission and one OF the makers OF
the Washington agreement, urging that
the bill as passed be accepted by the
company. though the original bill pre-
sented TO the Massachusetts Legislat-
ure by his commission did not contain
the String to which the company
objects.
The passage of the bill as 1t stands.
he admitted, was in part at least due
TO the efforts Of lobbyists. who, unem-
Moved this yer, nope TO get employ
ment from the New Haven next year
If legislation satisfactory TO it was not
enacted this season, and 10 others who
wish to fatten OF the litigation that
may result in the event OF the bill as
passed not being acceptable.
A federal decree, he said. might re-
suit in the New Haven being cut up
into its component parts, which course.
he pointed out. would be more disas-
trous than to be cut in two. In a
statement to the stockholders the di-
rectors refer to this letter. The state
ment follows: