The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-08

but later this capitalization was increased
to 81, 600, 900. which capitalization, he said.
was paid in by him with securities OF the
Navigation company.
Q. Did you turn over any of the profit
on the Boston and Maine stock to the
Navigation company or the New Haven"
A. No. sir.
Q. You say this Billiard Company was
organized as a holding company. What
stock was IL to hold? A. AZ the time II
was intended to hold the Boston and
Maine stock.
Q. Did 1t ever hold It! A. No.
.. Where did It go? 4. II went TO
the Boston holding company.
Mr.. Billiard said that Samuel Heming-
way. Lewis Hemingway and Charles
Lindsey We're associated with him In the
Billiard Company. all being officers He
said they were dummies"
@. SO you held 1885 shares Of the co.
600 shares of stock OF the BLIZZARD Com
pany? 4. Yes.
G. You gave your note for sc,743.500
and notes OF sll.O0o,oO0 based on the
stock OF the Boston and Maine TO the
New York bank? A. Yes.
.. And was not your agreement that
the New Haven would finance the deal"
A. Yes.
O. Then you were simply out your
note for $:.7+3.boo without security and
/ had not paid penny? a. What you
want to know is what ! am worth that
] is personal to me and myself
Mr.. Billiard identified a series Of
checks aggregating s953.4+s paid 20 him
through the New Haven and Mr.. Folk
asked him II he was sure he got the
money.
Il am not going 10 state" said Mr.. Bill
lard. These checks appeared To be In
connection with Mr.. Billiards. second trans
| action in Boston and Maine stock and
other transactions with the many com
panes subsidiary to the New Haven.
Didn't Draw His PROFITS.
Replying to a question why he did not
| Immediately draw his proht Of something
more than s2.700.Ooo in the Boston and
! Maine stock deal Mr.. Billiard said.
Il did not want TO- That was my busi-
| ness
WAS It because you considered II be-
longed TO the New Haven"
NO, SIR
Mr. Folk then reverted to a transaction
whereby the Billiard Company purchased
$4,000 shares of New Haven stock. which
Mr.. Folk yesterday charged was for pur-
poses of wash sales.
G. At whose suggestion did the company
purchase this stock? A. thiuk the sug-
gestion came from Mr.. Mellen. lie tried
to work off some OF the stock.
-. was tnht a genuine safe was u
not a bogus transaction to boost the price
\. II was not. II was to work II OF.
q. For what purpose? A. ] think Mr..
Mellen had considerable pride in 1t.
-. You say YOU entered into this agree
ment with MI Mellcn for the purchase of
this stock II the stock had gone down
would you have lost anything? A. We
| were acting as agents.
.. Was that done with the knowledge
lo( In ha Nov Work Stock ley
change? A II they knew anything abou,
1t don't know OF II.
.. Were you not a tool in this case
\. You can call It so II YOU want TO.
Mr. Billiard admitted that his company
had bought 100000 worth OF bonds OF q
Boston newspaper. lie said that In this
transaction he acted for himself.
"Did you not take them for the Naviga-
ton company or the New Haven company
or for Mr., Mollen?'
MIR. Billiard said he could not remember
lie did remember that he holds them now
MIR Billiard said that in closing UP the
Billiard Company he had not drawn money
out. and he commended that Mr., Mellcr
now owes him $4,000. lie explained this
debt by stating that he took up Mr.. Mel
lens note for this sum from the Naviga
tion company.
Mr. Billiard. notwit hstanding the fac
that he testified that he has no connection
with the Billiard Company. said that hi
now holds its assets. These. he said, arr
the $4,000 Me!len note. 100000 worth
OF newspaper bonds. $l500,o0o worth OF
Eastern Steamship Company bonds anC
5000 worth of New England Car Com
panv stock. he said he received 10000
for ten Of tho shares OF the BLIZZARD Com
panv which were originally issued. Aftel
wordy wrangle with AR. Folk Mr.. 81
lard contended that his profit of S2,7oo, 00'
% more in the Roston and Maine stoc,
was represented In these assets