The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-17
NEW HAVEN DIRECTORS
WON'T ALTER DECISION
Railroad Stocks Under Terms
Imposed by State.
MAY GET ANOTHER CHANCE
, Inferred That Negotiations Have
, Been Opened With Department of
Justice, and That Further Extcn-
sion of Time VIII BE Granted.

New York, July 16.-New York. New
Haven and Hartford Railroad Company
directors. at special meeting to-day.
decided unanimously to stand by their
decision not TO SOIL to the State OF
Massachusetts their Boston and Maine
Railroad stocks under the terms i'm
posed by that state
These terms contain the provision
that each certificate mus, bear stipu-
latioa on the part of the purchaser
that he will sell his shares to the state
OF Massachusetts at any time named.
The New Haven directors say compli-
ancc with this condition would render
tho stock undesirable AZ a purchase
on any fair basis. Emphatic denial
was made or rumors that application
for friendly rcccivershtp was con-
templated.
President James Hustis, who pre-
sided at to-day's meeting. declined TO
anplify the formal statement dealing
with the Boston and Maine situation.
1t vas inferred, however. that the
New Haven directors mad opened ne
gotiations with tre department Of jug
tice on this point. and that a further
extension Of time be granted pending
an adjustment OF this question.
AS matter OF fact Attorney Gen
eral McReynolds gave the New Haven
directors until midnight OF yesterday
to arrive at some agreement regarding
the sale OF tho Boston and Maine stock
This time was extended when IL was
learned a special meeting Of the board
had been called for to-day
The only direct reference to The In
terstate Commerce Commission's scath-
10 n - n Inv u
the former management was contained
In the bare announcement that a com
nittse OF three was to be appointed to
consider the commissioners report.
PERSISTENT RUMORs
NoT sUBsTA Inflated
Persistent rumors of anticipated
designations from the board were not
subs;antiated
The directors also announced that
thev had begun TO clean house them
selves, aud as an evidence OF good
faith have taken steps TO recover from
John L. BILLIARD the S2..43.0o0 alleged
10 have been pockcted by Billiard and
others In The notorious Billiard Com
psny denis.
Mr. Billiard was one Of the five alb
sent directors The others were How
ard Elliott Whairmanp, -. Newton
Barney. Frederick r Brewster and
George r Baker
William Rockcfellcr. whose phys!-
clans have always succeeded in keep
Ing him from the witness stand by
representing him as too sick TO testify
attended the meeting He walked
slowly. but with a firm gait. When
asked for reply To the charges that
the New Haven Was wrecked while
under the domination OF himself ana
Morgan. he replied:
81 never talk about business"
The Interstate Commerce Commis-
sions report on the lootinS Of the road
was discussed by the directors and
referred To committee Of three. Pres
ideni Hustis. who presided In place OF
Chairman Elliott. WAS authorized to
name the committee.
Although the report expressly
charges that the directors Of the Nor
gan -Mellon' Rockefeller regime We're
responsible for the loss of sos 49,. 900
IN" official statement issued by Presi-
dent Hustis dismissed the subject
briefly and without comment