Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-01-11
No Occasion for Hysteria.

cOIDplCdlUIS are S1cdl, Lie SldlSAASAs
made by the commission in this same re-
port is true, namely:
No Occasion for Hysteria.
..The financial condition of this COM
pany calls for careful consideration and
prudent action, but gives no occasion for
hysteria.
Pending the adjustment Of the details
with the government. and while new
financial plans are being completed. inn
provements of all kinds will necessarily
be postponed, and no money spent except
such as is absolutely necessary for
safety"
does not have any bearing upon the
much alked-of criminal suits against
former directors and officials of the New
Haven road. There has been no decision
by department officials upon this point
and probably there will be none Tor sew
eral weeks. Some officials are known to
fee that such suits would avail but lit
tie, since the men generally understood
to be responsible for financial operat on
involving the New Haven probably could
not be reached by the federal govern
ment
Regarded as Big Victory.
Officials of the Department Of Justice
were of the opinion last night that the
New Haven agreement was as big VIC
tory for the principle of peaceful settle
ment of antitrust cases as that regis
tered in the case of the American Tele-
phone and Telegraph Company. They
pointed out that the complexities in the
New Haven were greater than IN the
tie ephone case and that the effect OF
suit to separate the New Haven from its
great holdings in other corporations
might have resulted in disaster to the
road itself, and in reflex action upon
business that would have been widely
felt.
They recognized the fact that the
New Haven could not be expected to
dispose of its holdings in a few months.
They recognized the weight of the ar
gument that to force the road TO gel
rid of it's interests within a specified
time merely would permit prospective
BUYERS to wait until that time expired
and then pay their own price. AS long
as Chairman Elliott and his associates
in the reorganization show their in
tention to carry out the terms OF the
agreement assurances are given that
The Department of Justice will not
press them too hard for haste.
Years May Be Required.
Although no one in authority would
predict how long time such reor.
ganization as is contemplated will re-
quire, 1t was generally believed that
final readjustments can not be reached
for many months and, on some points.
probably not for several years Attor.
ney General McReynolds has said from
the beginning of the negotiations, how
ever. that both Chairman Elliott and
DIR. Hadley had shown an earnest de-
sire to meet the departments de-
mands and that their plans would be
regarded in the friendliest light.
No official statement was Forthcoming
from the Attorney General last night
but he has explained frequently to
callers that he was most anxious to
see an agreement reached whereby suit
could be avoided and measures adopt
ed which would restore what he con-
siders a fair portion of competition In
the New England field.
The negotiations with the New Haven
began more than two months ago
shortly after Mr.. Elliott came east to
take active charge of the operation OF
the road There have been several con-
ferencs between the railroad men. the
Attorney General and his two assist
ants in this case.
Spent Months in Investigation.
Mr.. Gregory and Mr. Adkins spent
months in their investigation Of the
New Haven, and possessed thorough
L, :
Gently was given access to the New
Haven books in New York, and both
department and railroad officials had
constantly before them the recent re-
port of the interstate commerce COM
mission on operations of the New
Haven.
This is not the first time the New
Haven has escaped the hand of the
Sherman act. Several years ago the
road was Investigated by the Depart
ment of Justice and was sued by the
then Attorney General Bonaparte
Former Attorney General Wickersham
however, finally decided not to press
proceedings and that suit was aban-
doned. Several months after Mr.. Rey-
nolds assumed office he finally deter
mined that the government would sue
or the New Haven would reorganize
Mr.. Elliott had nothing to add to his
formal statement. He expected to re-
turn to New York today. The working
out of details OF the reorganization