The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-05-22

always vas against the. plan. !
H"9 - f'lu u ui9aSieFS On tnoSe I'M
Ne+
MORSES BIG oFFER
ar. Menen' "llet test!fyinS regard
ing an oIfeF OF S2o,o0n,0O0 3dc by
Charles ". Morse Tor the purchase Of
steamships owned by the New Haven,
said ne came to Washington and con-
suited President Roosevelt in regard
| TO the matter.
Mr. Morse. he said, had acquired
practical control ot nearly all the
steam lines Of the Atlantic coast. lie
wanted our holdings and ] finally got
q definite offer Of 500, 090 eco from
him. 7 wanted % soil but ] was
great admirer of President Roosevelt
and I thought a matter of that kind
ought to lie laid before tho president
of the United States. / Sa" HIM and
he was ANXIOUS, apparently that
Morse should be checked in his acurIi-
urged me not to sell
81 told Mr.. Roosevelt that a. it was
expected the bill being prepared by
Herbert Knox Smith, commissioner Of
corporations, would contain q clause
preventing railroads from owning
steamships, il would be to our advan-
ia sc to accept the Morse offer. | told
him ] felt it was doubtful that we
ought to turn down tho proposition
when by 1t we could turn our property
into cash.
Herbert Knox Smith and commits
sioners Prouty and Knapp were pres
ent, having been called IN by MT.
Roosevelt. M Roosevelt told me. I
can only promise You. MIR. Mellon. for
myself that if You do not sell Your
lines I will promise YOU 50 far as |
am concerned, while the law remains
as it is, you shall experience no
trouble from me in your ownership
of what you now have.
! 10 Ii In Nv f&rF,
ney General Bouaparte2"
At think in 1907"
why was the provision preventing
the railroads from owning steamers
left out?"
II imagine 1t was because Mir,
Roosevelt kept faith with us
WAS in GOOD HUMCR.
Mr.. MeIlcn and his counsel. J. W. II.
Grim. arrived a few minutes before
1890 o'clock the hour fixed for the
ident appeared in good humor and
told friends that he felt no strain from
the two days griIling which he had
undergone.
When Mr. Folk. chief counsel for
the commission reached the room he
said that the line of inquiry would be
taken up where it was left off yes
terday. it being his purpose to con-
tinue investigation of acquisition by
the New Haven Of the Rhode Island
and other trolley systems
Before Mr. MeIIen took the stand
there was informal discussion among
attorneys and investjgators as to how
much longer Mr.. NeIen would be de-
by representatives Of the commission
that there was still much ground tn
be covered and that NJ. MeiIen mtcur
be excused late TO-DAY or tomorrow ID
be called back next weell
When Former President 1IelIcu Of
the New Haven railroad took the
stand today, Mr. Folk taking up the
acquisition Of the Rhode Island troll
lows asked Mr. Meuen:
What assurance did Senator Nd
rich give YOU to he transmitted to the
Nov Haven directors
Il do not remember any" Mr.. ATeIler
replied
Mr. Mellen stated that his impress
sion was that when Mr.. Aldrlch saw
him al Stockbridge. he made some al
fusion to resuming negotiations for
acouisition of the Rhode Island tTol-
levs
Mr. Mellen further said that the
Tinted Gas and Inprovement Com
panv refused to separate the Con
necticut and Rhode Island trolleys
The intimation was that the New
Haven had to take the properties In
both states in order to get the Rhode
Island troIleys.
HAS the deficit that resulted from
the purchase Of the Rhode Island troll
IeTs eyer hoer de lp~" Mr.. Folk
asked
NO but am confident Il will he
said Mr. Me11en.
$50 vou naid S1a. oO0, 600 or scr. O0o.
mn for, nrnnartv worth about S eco
coo .,
II ID not accent vot1r valuation Of
SIS 600 400"
Nov do Won estimate the value in
rasa like that ,"
When 7 yalTIe a purchase I consider
i+s nrosnec+ive value what it ulti-
mateIy will be worth