The Bridgeport evening farmer., 1914-04-10

Washington, ApT1l 1O---E'urtler= 1n- quiry into the financial affairs of the New Haven railroad was begun by the interstate commerce commission today after several weeks of fnvesti- $ gaffon into the books of the company. The inquiry, under the direction of Commissioner McChord, is being made in compliance with a Senate resolu- velop all facts regarding the New Haven's banking connexions, the pur- chase of it's subsidiary properties, the money paid for them and the eInolu- xnerts for commissions paid for nego- fiafing the various transactions
 Commissioner AgcChord announced sethat the principal matter to be con sidered at present were the relations Of the Billiard company to the fnan- cial operations Of the New Haven. TWallzer D. Hines, counsel for the present management of the New Ha- ven, said at the opening that it was the policy of Chairman IIlliott and the present management to cooper ate in every way with the commission and furnish all information.
 ANSWERS REFUSED.
 Harry v whippIe. president of the Merchants National Bank, Of New Haven, the first witness, refused to \ testify as to his business relations with the Billiard company. He said he was not now a stockholder in that company, but had been up to last fall
 TO whom did you sell your stock in the Billiard company?" he was
 'T must decline to answer that ques- tton because I regard it as an inva- sion of my personal rights, " replied TWhfrple-
 Judge Sboddard, counsel for the New 7inatiou to reply.
 we challenge the right and the ju- risdicfion Of the commission" said he, <'to inquire into any act of the Bf1- lard company Our conclusion is that such an inquiry would be beyond the Acting upon that conclusion we have deciaed to decline to answer questions relatfng to such matters"
 HINTS AT INDEBTEDNEsS.
 Were there any relations between the Billiard company and the New Haven during your inc1tmbency as treasurer Of the Billiard company ?'' MT. Whipple was asked
 The witness again declined to an Ewer by advice of counsel
 suppose suggested Chief Counsel Folk. of the commission, 'tthat it can De shown that the Billiard company owes the New Haven railroad many millions of dollars, do you think that 1t would be desirable to conceal this fact in view of the desire of the Sen ate for the information ?''
 'I think, interrupted Judge Stod- dard. that the Senate resolution has gone far beyond the powers either of this. commission Of Congress. GTeither the commission nor Congress has any power to investigate the re- lations, if any, of the Billiard conn pany and the New Haven railroad.'
 A series of questions was put to Wh1pPfe intended to develop evil dence of financial relations between the BiR1erd Company and the New Haven or the Billiard company and the New England Navigation Go. He declined in every instance to answer.
 He refused to say whether there had been a transaction between the Billiard Company and the New Eng land Navigation Company involving $z1, 100000 or not; whether the New Haven through it's subsidiary, the New England Navigation Co.,. did not advance to John L. Billiard a million dollars on>1ais four promisory notes, or whether Billiard was indebted to the New England Navigation com pany for two million dollars
 BOOKS NOT PRODUCED.
 The counsel for the commission said MT. Whipp1e had been directed by subpoe11a to bring books. doeu- ments and contracts of the Billiard Company.
 Are you prepared" he inquired --to produce those books and docu- ments?"
 T am not" whipp1e responded, and declined to say whether his refusal was or was not because the books were too bulky
 To Samuel Hemingway, president o1 the Second National Bank of New Haven, a similar line of question: was put. He also declined to answer Ills counsel. Homer S. Cummings, oi New Haven, said he had concluded r@a< ~rmsannSaa <9 aanrh 5nalur4as bS