The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-05-19

the king OF finance. In the same re-
ply he Indignantly refuted the sugges-
tion that he feared for his job. Il
was Morgan the man he was afraid
of-not Morgan's power. He boosted
that Morgan's fellow directors who
had protested OF the expenditure OF
81, 100000 when they expected to
spend $5,000.O0O were like himself
unwilling personally to demand Nor
CANS reasons for the act
The grizzled old railroad man re-
cited the innermost details OF tho
West Chester negotiations whore two
paper roads. the New York. West
Chester and Boston and the New
York and Port Chester systems were
.unIoaded on the New Haven at total
OF $3o,O00O0O. He characterized frank
" a. physically worthless their value
being potential Morgan and Rookie
teller believed in them and their judg.
ment was usually accepted. Folk
showed Mellen q letter written In
1907 to Allen Wardwell, dealing with
the West Chester transaction. The
following notation was at the bottom:
Il am sick and tired OF this whole
business. 1 fear that before 1t is all
settled many regulations will be dam
aged and in the end will be the
goat"
did you write thatr' asked Folk.
Eyes, and in the light OF present de-
velopments. l believe WAS = pro-
phet"
What did you mean by the state
ment that you would be the goat =
We'll, you know that whom things
go bad In big corporation like the
New Haven, some men remain TO face
the music. Others go to Carlsbad or
other places like that for their health
I am staying here to fight It out. SO
far as the entire West Chester trans
action was concerned, simply want
to say that don't feel Iroud OF the
part l played In 1t. don't think I
should even have been tempted into
it. It was a bad deal In every way"
What was the total paid by the
New Haven for the West Chester
road?"
For how many miles?"
About twenty-six miles"
Making it cost a million and half
a mile"
"WeIl, it's a four track road and
much OF the property had to be bought
by the foot"
Mellen stated that he had talked
over the West Chester deal With both
Morgan and Rockefeller and that.
while both admitted the West Chester
properties had been. very costly. they
were confident they would eventually
be very valuable.
Folk read letter written TO Mel
len by Thorne in which Thorne said:
II have had several interviews with
the city authorities and I am sure
will get what want. There are peo-
pie in Fourteenth strest who are fav-
orable to West Chester and others
favorable to Port Chester In the end
both side will have to be taken caro-
Of"
How were they taken care of" de-
manded Folk.
We'll, he might have meant ne
was taking the Salvation Army there
to pray for them" snapped Mellen,
seeming Disguised.
McChord rebuked Mellen for his
flippency. Mellen said Folk could
have answered fully n well.
What do you man by people on
Fourteenth street." asked Folk.
Fourteenth is a broad street in
New York with a building on IL
known as Tammany hall"
Folk tried hard to get Mellen to
admit that Tammany was holding up
Thorne. Mellen refused to say. He
insisted it was a matter Of opinion
only.
Thorne received TX percent on all
money paid out and Mellen said he
was paid twice for the same transac-
ton in certain instances