The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-21
NEUTRALITY-SUSPICIOUS.
new HAVEN AFFAIRS
Pending Separation From Bos-
ton and Maine Discussed by
Massachusetts, Governor.
mo IMMUNITY INVOLVED"
Tentative Divorce Agreement
Awaits O. X. Of New Haven
Directors This Week.

6osroS Feb 2o.--Cov. Walsh this
afternoon gave out a statement regarding
the railroad conference In Washington.
where the conditions on which the New
Haven railroad shall be Invested OF It's
control over the Boston and Maine rail-
road were discussed.
TUESDAY and Wednesday" he said,
were spent In careful detailed discussion
of such form OF agreement OF the divorce
as while accomplishing fully the purpose
Of the Department OF Justice to enforce
the sherman act, would conserve to the
utmost the rights of the Commonwealth
and the innocent holders OF securities In
the railroad affected. 1t was recognized
by all concerned that thorough and com
plc,e reorganization OF the Boston ana
Maine must speedily he accomplished In
the interest both OF the holders OF Its
securities and OF the northern New Eng
land communities served by II.
"wednesday night the representatives
OF the New Haven left for New York with
paper. apparently agreed upon by all
parties to the negotiation, In order To SUD-
init this draft to the New Haven directors
AZ their regular meeting on Thursday.
The agreement was complete In all de-
tails except as to the personnel OF the five
trustees and as to the time within which
the Boston and Maine stock must be sold.
pursuant 10 the request Of the Depart
snent OF Justice l submitted names as
possible trustees As the power OF APP
pointment rests in the Department OF JUS
tice manifestiy ought not ut this time
10 anticipate the action OF the Attorney
General as to any OF the names sub
mitted.
''I may add that I am in full accord
with the Department OF Justice that no one
directly or Indirectly responsible for the
present wreck OF New England railroads
should take any part in the reorganization
and rehabilitation OF the Boston and
Maine.
The draft OF agreement fully recog-
Mics the right of our Legislature to con-
troll the conditions under which the hold
ing company may sell the Boston and
Maine stock.
THE New England public should fully
realize that the ineificiency and misman-
aSement OF these roads have been so
destructive of values that the actual
losses made must now be faced. We can
no longer blink the facts, they must be
met squarely. No reorganization can
possibly be erected that does not involve
a radically changed relation between the
leased lines and the Boston and Maine.
without effort and sacrifice on the
part of those financially interested no
law. no board of trustees. no enforcement
OF the Sherman act can save this prop
erty.
The question of Immunity 10 not In
any way raised nor can 1t be disposed OF
by the proposed agreement for dissolu-
ton. The national Government is con-
cerned only In separating the control,
management and ownership OF these two
roads. All powers that now exist to
stockholders to prosecute civilly or Grim
finally those responsible for financial mis-
management will remain after the decree
Of separation Is allowed by the courts.
The right that the stockholders have to
recover for responsibility for their losses
cannot be interfered with or abridged by
the Department OF Justice"