The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1914-05-27

Says Nsiisn's Charges ssainsst His
Father Are Untras

rr head Of the New York. New Haven
aud Hartford railroad. before the Ia
tcrsiaie commerce commission in
Washington last week. that J. Pie
pont Morgan concealed from Mr. Mel
len facts regarding the New llasen
road watch AR. Meiiea should have
known. Mr.. Morgan offered 10 pro
duee before ans prope. tribunal N
INK concealed from him. the presiden
A Co. and the personal records of
his father Taking lull responsible
% upon himself TO- the change la the
roads presidency by which ar. Mel.
len resigned and gave way 10 anoih-
cr. Mr.. Morgan said d WAS untrue
that his father in any sense took from
! Mr. Mellen the management of the
road or any pat of its affairs.
AFR Morgan's statement last night
was his FIRST direct reply 10 Mr. Mel
lens Washington testimony. which he
examined. he said. from a steuograph
g. report. The statement read.
n became director OF the New
Haven railroad In April. 1913. and re-
signed December n OF the same year
The only reference 10 me personally
which ! have found in Mr.. Meilen's
| Testimony has 10 do with the fact
that !. as director OF the company.
called upon him and told him that a
change In the presidency was desir-
able. For any blame that attaches TO
that act. whether Il be accorded me
as a member OF the board OF direc-
tors. or as an individual. ! accept full
and complete responsibility.
There is. however. in Mr.. Mellen's
testimony something more impor-
tant to me than any possible critic
ism OF myself. Mr.. Mellen In sub
stance charges my father with hay-
ing oncealed from him. the presiden-
cy OF the company, facts which the
| president OF the company should
have known. Every one who knew
my father knows ;his TO be untrue.
During the last 10 years of my faith
er's life he was abroad more than one
third OF the time During the last
three years OF his life he was abroad
One-half OF the time. As the world
knows. he was actively connected dur
ing this whole period with many DIFF.
ferent Affairs. That he would have
had the time. even II he had the Il,
sire. To interfere actively In the man
agement Of the New Haven 81 mpos-
sible.
"Mr. Mellen is right in describing
my father as forcefu man. lie is
right also In picturing my fathers
deep interes, in New Haven afiairs.
My fathe- was born In New England.
and he believed in the New Haven
railroad. He recognized. MS others
have recognized. that with the shift.
ing OF the center Of population In
this country. with the changing econ.
omlc conditions. the commercial post
ton of New England was threatened.
and that q change in this commercial
position would. unless an effort we q
made 10 conteruct u. result in an I'M
favorable effect upon New England s
leading railroad. lie undoubtedly he
lieved that railroad peculiarly situ-
ated az is the New Haven. with a
growing passenger tfafIic at very low
rates. anu with expensive improve
mCnis required all along It's line
must make every effort TO increase
its traffic aud main ain It's position
lie believed. moreover. that the New
Haven and the Boston and Maine
which we're not in his opinion In any
sense competing lines. could be oper
ated to the benel. OF New England
moro advantageously together than
apart, and that no harm could come
TO the public from this amalgamation
by reason OF the full measure ol
state and national regulation which
the laws affo.ded. am quite ready
to believe. also. that he agreed will
, Mr.. Mellen that the entrance of the
7 Grand Trunk railway into Pruvidnc,
would have involved the unnecessary
duplication of facilities for which IN,
New England public sooner or late
would have had to pay. But the impu
tation that my father In any sens,
took the management OF the railroad
or any part of its affairs, out of IN,
hands Of the president. is untrue.
ION the 9Th day of March OF this
yeaf our firm made public let er
showing in detail the total net profit,
from every source to the firm Of j. L
Morgan q Co, ar to any of its mem
bers, growing out of transactions o
any kind whatever, cbnnec. ed will
the New Haven lines. for period o
20 years. Those total net profits
amounted to approximately sS50.000
which included their compensation
for handling, alone or i'm connection
with others, securities of the par val
ne Of $33,O0O.OOO.
"The records of my f IN and The
personal records of my father arr
still intact, they are available ant
ready for production before any pro
per tribunal at any time. In the pre-
ent state of the New Ravens affairs
the shareholders are entitled to have
made public every obtainable bit o
evidence bearing not on one but OF