The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-03-23
Agreement with Department
Of Justice Reached
Saturday
BOSTON & MAINE
WILL BE DISPOSED OF
Between Now and Jan. 1917-Mer-
chants and Miners and Eastern
Steamship Cos. Will Also Be Sold
Trustees Named for Trolley Lines.

The United States department of
justice and the New York, New Haven
and Hartford railroad Saturday night
at Washington announced that they had
reached a complete agreement for "a
dissolution Of the New Haven. The an
nouncement was made in the following
terms:
THE encouragement has Indicated
TO the representatives OF the New DIRK,
New Haven and Hartford railroad the
arrange ments which he thinks would re-
suit in bringing the affairs of that
company into harmony with law. The
representatives of the railroad are will
ing to accept the requirements Indicated
and to endeavor to put them into effect
without delay if approved by the stock
holders in a meeting to be called at
once. The indicated arrangements,
stated in general terms, follows:
Il. The Boston railroad holding
company is a Massachusetts corporation,
holding a majority of the stock of the
Boston and Maine railroad, and 80 per
cent of the former 5 stock, In turn, IS
owned by the New Haven railroad.
The charter of the holding company
prohibits it from disposing of the Bos-
n.
Of Massachusetts will bc asked TO re-
move this prohibition and if this is
done, the stock Of the holding company
viii he transferred at once to five trus-
tees and, after arrangements have been
made TO protect the minority stock OF
The holding company they shall sell the
Boston and Maine stock, prior TO Jan
uarv, 1917.
-. The stock Of the companies
which control the Connecticut and
Rhode Island trollies will be placed in
the hands of trustees-fve for each
. state-and shall be sold within five
wears from July !, 1914.
-. The majority stock of the Mer
chants and Miners transportation com
panv now held by the New Haven rail
road, will be placed in the hands of
three trustees and shall be sold within
three years from July I, 1914.
-. The minority stock in the Eastern
steamship corporation held by the New
Haven railroad shall be sold by the
New Haven railroad within three years
from July /, 1914. and in the mean
time shall be deprived of voting pow
or.
-. Whether the New Haven rail
road for the trustees and for good
cause shown. the time within which
any Of the above mentioned stock shall
be sold may be extended by the court
80. The Berkshire trollies shall be
sold within five years from July |
1914
- A decree embodying the fore
going shall be entered in the United
States district court for the southern
district of New York. The decree shall
further provide that upon application
Of the New Haven railroad for tn
trustees and for good cause shown, tn,
time within which any of the allow
mentioned stock shall be sold may b,
extended by the court.
Trustees satisfactory to all par
ties have been suggested. Those pro
posed in connection with the Boston
and Maine stock have signifed thei
willingness to serve and their name
are: Marcus =. Knowlton and Jane
l.. Doherty of Springfield. James |
Richards and Charles p Hall of Bos
ton and Frank p. Carpenter of Man
chester, y. II. Names of the other
will not be made public until aeceI
ance by them is fully assured.
"The essential reason for placing tn
property in the hands of trustees is t
secure their immediate independen
managements The outlines of til
proposed decree and trust agreement
have been discussed and are understo o'
Their verbiage remains to be worke
out, but no difficulty is anticipated
that respect. This statement has til
approval of both the attorney gener;
and the representatives, of the raj
road.