New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-09

Total security purchases in which -, o,0 ~
participa ted .............-. .NSl' '-''VVV w
sgch p1rch os pa ''c,r'o 1916 ss7 ~
Losses realized by us on certain go, 20. r.
of such purchases ...-..-......... s'os'O-f ~
Total profits accrued 70 Us from
s al, tme 'e'na'nu'' 'u. W 555ls4 e
Net loss TO our firm from tho ...o g.,
total OF such purchases. .'..''.'' ''''''' -
SCHEDULE II.
Section 4. Transactions in which.
prior 20 the fiscal agency con
tract. We acted agent for the
company; the total OF securities
being iD'Su par value o.. SIS s5i 500 90
On these transactions total COM
W ~eTe'o,'s paI - W ;i5'5sl Is
Being an average commission Of
less than $40 Of per cent
retained tain bv ms Tas.'...'..... g.Ss45 q
The balance being paid 10 others
interested with us In tine trans
actions.
Section r.
All transactions under fiscal
agency contract conferred into on
December 49, 1910. and termi-
mated an December 4, 1879, FOR
all companies Including Boston -.
az Mainel. showing a total OF. Meow w" "
OF securities sold for account or
the companies.
uD [i.. %nc9 o. 'ney piu ''A' VG $50, sos 10
or approximately = OF per
cent FOR selling.
or this commission tho amount ,,. =,
retained 10y us MAS. ............. S'S'' '>V vi
The balance being paid 10 others
interested with US In the trans
lions.
SUMMARY OF SCHEDULES ! AND H.
Schedule l.
Amount Of companies outright
sale OF securities NSl,1-Aov w
Amount o, companies securities
handled on commission ,Ol' sos sos %
In all .........................,a 1893 oss. 500 90
psia by companies '.'............ 1896 iss 10
Being little less than u OF
per cent
sIons retained by us...,......... ,5s3 So IS
Net losses realized by us IN tho
III. I, pu'0'''''. ..'..'...... 1ss go "a
Difference representing total
profit 10 s....................... eo0V'-'o -
This total profit OF $3.50. 965 . Cbeing
AZ the average rate Of s1750O a YEAR, IS,
as aforesaid, the net result 10 our firms
of all OF our transactions with the New
Haven and its allied companies during
have not received from the New Haven
or from the companies affiliated with II
any compensation or profit in any form,
or an any other account, than those here
with described.
answering your specific inquiry, We
beg TO state that none OF our firms, nor
any member of them, ever had any inter
est IN any properties. such as the West
chester, the steam railways, the trolley
lines or the steamship companies ac-
uuired by the New Haven company or
any OF its subsidiary companies. This
broad statement has only one exception.
the details Of which are "a follows.
y. y. Morgan. srr inherited 1922
shares OF the stock OF the South Bay
Wharf and Terminal Company (being
somewhat less than one-tenth OF the
whole from his father in 1890. Seven
teen years later. in January, 1907, he
was asked to exchange this stock for
S1i shares OF New Haven stock, and
complied with the request. You may be
in reading copy herewith OF
a letter under date OF January q, 1905,
TO him by J. c. Cobb. explain
through outside appraisal. at a fair
price 10 the New Haven in the matter.
From this YOU will note that not only
was Mr.. Morgan's interest small. but
that the transaction was carried through
without participation by him.
"Millbrook Company We are glad 10
make specific replies to your quest lions in
regard to this company.
20. We hand YOU herewith state
ments Of accounts from our books show
Ing that from October. 906. to Septem-
Der. 1907. we advanced Oaklegh Thorne
and afterward the Millbrook Company
various sums aggregating sll.l55,000
All these advances were made by order
and for account, of the New Haven Rail-
road Company. We incose copy OF an
official letter to MS from the New
Haven Company. dated April 2. 1857, and
received about that date. in which ref
erence is made to an agreement dated
December T. 1906. between the New Haven
Company and the Millbrook Company.
and to our advances on account of that
contract This letter confirms our I'M
derstanding that all such transactions
have beer and are for the account and
benefit Of the New Haven Road and.
Furthermore. that that road Is and will
be responsible therefor We hand 10
you also a list Of the securities against
which advances were made. such secu-
rites having been finally turned over 10
the Millbrook Company under instruc-
flows Of the New Haven Company.
"(2) None or our firms. orr any mem
Dor Of them. had any Transactions with
the Millbrock Company other than those
FOR the account. and by the order Of tho
New Haven Company. rs set forth I'm the
statements Of accounts furnished you
herewith.
"(3) In none OF these transactions
was there any profit or commission To
our firms or 10 any member Of them.
Tn" New Haven Company opened with
ny an account which was designated as
it's Account SO - Iu this account tho
company deposited from time to time
lover $4,000 600 of the total prior 10
February 1900 moneys 10 reimburse
US for our advances Cor its account TO
the Niilbrook Company We inclose
,ftut.meut sf TINT actouut ghOUinr tina