New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-23
OFFER MADE MONDAY
STILL OPEN-.fUSTIS
President of Road Insists
Furt.: or Concessions Mean
Loss of Millions.
STILL ANXIOUS
TO AVOID SUIT
Answer to Presidents Action
Says Company Is Ready TO
Deal with Government.

Deal with Government.
"Wc regret the necessity OF fight
ing the government in the courts, but
If We must fight VIC will tight tho Bos-
ton & Maine matter TO the finish, or
until such time IS the government Of
fers terms on which the company can
sells It's Boston & Maine stock without
innicting enormous, unnecessary and
unjust losses upon its stockholders"
Such. in substance, Is the statement
made by James II. lIusts, president
ana acting head of the New Haven sys-
tenn, to the public last night in an
swer to the published letters Of Prcsl-
dent " ilson and Attorney General Nc
Reynolds. in which the President or
dered suit for the dissolution of the
New Haven aud Boston & Maine
merger to be filed under the Sherman
act
This sentiment is reiterated in an
other statement issued TO the stock
holders in which Mr. Hustis. for his
directors, explains the ends to which
they went TO avoid n suit, even TO offer
ing to turn absolute control OF tho BoS-
ton Maine oYcr to trustees selected
by the government, the railroad and
the state Of Massachusetts pending the
settlement Of tho questions Of tho
ccmpany's rights by suit similar to
that which TIE government now threat
ons to file.
Roads Offer Still Open.
4 suit under these conditions would
have enabled the administration to
",ayc its face" and at the same time
hermit settlement of the questions
involved in lawful and orderly man
rcr. without undue disturbance TO the
business Of New England and tho
losses that have accrued to New Haven
stockholders in the last fortnight IN
the dopreciation Of the market value
Of their stocks
That offer Us still open. No mention
IS made i'm either statement Of criminal
prosecutions under the sherman act.
II may. however, he said on tho au-
ihority OF director Of the company
that criminal prosecutions arc tho least
of the worries Of those now active IN
the affairs of the company. What may
happen Charles $. Mellcn occasions no
feelings Of apprehension, and should
John l.. Billiard lind himself called
upon 10 defend criminal suit he VIII
have 10 struggle along without the sid
or sympathy Of the company or ilS
present Managers.
While Mr.. lIustis and his asaoci-
atcs we're digcstiug the matter that
had come from the White House and
the Department Of Justice, District At
torney Marshall was telling reporters
that he knew nothing OF the govern
mcnt plans, and expected to know moth
ing of them. "a the suits would be
handled independently of his Office.
Mr.. Hustis's statement TO the public
follows:
"Thc directors Of tho New York, New
Haven & Hartford Railroad Company
desire to make their position entirely
clear. They have never refused, but
on the contrary. have always been viii
ing and anxious TO carry out the agree
ment with the Attorney General, made
on March u. 1911, approved by the
stockholders on April u, and sane
toned by the Governor of Nas5a-
chusctts.
"That agreement was framed 20 ac-
complish two objects. first the sale OF
certain properties. owned by the com
panv. which tho Attorney General de
manded. and second the sale TO take
place at such times and on such terms
as would insure return AZ a iair
pricc. This last object. in the judg-
ment OF the directors, will be defeated
If the salc Of the Boston & Maine stock
Is made subject to the condition i'm
posed by the Legislature OF NaSsa-
chusctts. and. therefore. they have de-
cl.ned to accept il and have stated fully
the reasons for their decision.
EmpndSlLc toou di'H'
"Thcy have not refused to carry out
any agreement which they have made
hut they have refused to change that
agreement. AS the change would entail
OF the company very large pccuniary
loss and. at the same time. increase
enormously the difficulty Of rcorganiz-
ing the Boston & Maine Railroad.
"As evidence Of the good faith OF
the directors a representative commit
tee OF President Hustis. Mr.. Cuylcr
end Or. IIadley, accompanied by Mr..
Moortield Storey, counsel IN these pro-
cecdings. waited on the Attorney Gen
eral on July 20 and offered 10 carry
through the settlement in all res poets,
according TO the agreement. and. fur
ther. in order TO meet the difficulty
v hich had been created by the Massa-
chusctts Legislature, the committee
offered 10 place the control of the BoS-
ten Holding Company in the hands OF
the trustees. who had ncen selected
by the Attorney General and the Gov