The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-11
ELLIOTT MAN or THE HOU
wall street Credits Him with Sue
cess of NEGOTIATIONS.

Howard Elliott, chairman Of the board
OF directors has been the leader in the
New Ravens move to settle peacefully us
case with the Government The move be-
gan with Mr.. Elliotts election In July.
There had been no suggestion OF such a
policy under the Mellen regime.
Mr.. Elliott Immediately after his cleo
ton entered actively into negotiation with
the Government. IL was the biggest piece
of work which the directors had In mind
! for him when they selected him for his
ability. among other qualities. to win pub
lie sentiment.
1t was over a month from the time OF
his election to the time he took Office on
September I, but his influence for bet
| ter relation with the Government made
! itself felt from the first. BY the time he
/ took office 1t was generally accepted that
! he had smoothed the way for approaching
the Government regarding the investiga-
| ton.
| The conclusion reached on New Haven
| affairs yesterday, IL WAS asserted by fnan-
cial men last night, marks the decisive
/ point IN the New England transportation
problem. New Haven affairs Will be on
the upward turn from now on, IT was
asserted. A leading interest in the road
expressed high qualification in the success
full conclusion of the negotiations.
Two days after Mr.. Elliott was elected
| IL was unofiic!ally announced from hos
I ION tnat ne WOulu ASK tne Government 10
suspend its Investigation and await de-
velopments of the new policy in the road.
\ As an earnest intention on the part
| OF the New Haven work ON the new
hotel at Par Harbor, TO have been erected
| by the Maine Central at a cost of $1,000
| 900. was stopped The investigation
| under Special Attorneys Gregory and Ad-
| kins went on.
One month after Mr.. Elliott had taken
| office the directors of the New Haven
| took the first formal action to end the
! Government investigation and conse-
quent suit. Mr.. Elliott. President Hadley
! OF Yale and II. De Witt Cuyler were APP
pointed special committee to wait on
the Attorney General and take up the
question OF a voluntary dissolution
The force OF this action was explained
two days later. on October 8, when Mr..
Elliott In his first annual report announced
definitely the new policy AS follows:
! Your company has no desire to retain
| these investments except In conformity
| with law and with sound public policy.
| Mr. Elliott went to Washington three
| days later, and after a two hour confer
ence with Attorney General McReynolds
| IL was made known that the way had
been opened for an adjustment Of tbs
| Governments grievances against the
road. Mr. McReynolds agreed to hold OF
! indictment of the road under the anti
trust law pending the outcome of n
series of friendly negotiations looking
| to a settlement out OF court.
From that time negotiations progresset
| smoothly along the lines OF the settle
| ment reached, In the last part of No
| vember Mr.. McReynolds urged the New
Haven To speed up the matter or sui
| would be filed.
The New Haven made its strongest cas-,
for the retention Of the water lines
| Throughout December things moved rap
idly and with frequent conferences be
tween Messrs. Elliott and McReynold.
in Washington and between Mr.. Elliot
and the directors In New York
i SO sure was the Attorney-1eneral tina
the Government and the road were on tn
right track that he was instrumental il
calling of n Congress investigation tina
threatened about the middle of December
with Senator Norris as one Of the lead
ers.
The rise of the stock from its low
65as on December ~ to 7SE recently
has followed the progress Of the Wash
ington negotiations.