The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1914-07-14

OF wrong doing such as was dis.
closed" Is difficult to obtain, that
such transactions are conducted In
secret and In the dark and finds fun
Justification for its action in the re-
sultiuR discoveries.
The insuring OF honesty through
the management OF the great railroads
OF the country Is a most important
question before the people today"
says the report In conclusion. "and
only when through exposure OF wrong
doing and an awakened public con
science. coupled with effective laws
that result Is produced may railroad
ing be placed on the high level that
IL should occupy. The revelations in
this record made IL essential for the
welfare Of the nation that the reckless
and profigate inanciering which has
blighted this railroad system be end
ed. aud until this is fully done there
Will be no assurance that the story
OF the New Haven wal not be told
again with the stockholders OF some
other railroad system as the victims"
No Easy Time.
Evidence that agents Of the com
mission did not have an easy time
securing Information IL desired was
contained In an appendix filed with
the report. On July 2. ID +. Brown,
accountant OF the commission, wrote
10 Commissioner McChord. who has
directed the investigation, that his
efforts TO get at fact about the New
Haven had not been met IN a friendly
spirit By J. Z. Morgan a Company.
Brown wrote that full access To the
Morgan records had not been granted
him as had been promised. said he
vas unable to say whether he had
been allowed To Inspect all New Haven
transactions on their books and was
given only such correspondence as the
firm submitted.
y T. Morgan a. company wrote
Brown, do not consider this proceed
ing before proper tribunal, and IL IL
only before such body or court
be affected"
This investigation" Brown added.
cannot be dignified with the titls
investigation can be conducted where
in the parties under investigation
specify the evidence and limitations
under which 10 must be accomplished
All that | could consistently state is
that J have seen certain accounts and
correspondence pertaining to such
transactions. substantially confirming
the profits and losses published in
their statement on March 4. 1919.
whether such records az I have
seen reveal the fun story OF their re-
lations with the New Haven and itsi
y -.
beyond the statement OF the firmR
representatives that such is the case. %
In answer to an inquiry from Com
missioner McChord. Mr. Brown tele-
Graphed on July 10. that the Morgan
representative was Dwight w Nor
row. who became a member Of the
firm July T. On July H. Commission
er McChord teleEraphed Brown thai
~ lis useless for you TO continue the
Investigation
The commissioners report was
Practically complete several days be-
fore Mr. Brown was called In.
The Billiard Transactions.
or the now famous Billiard trans
actions the report says.
THAT Billiard. however was merely
a New Haven agency is shown BY the
following facts which stand out In the
record
Tie never paid dollar OF his own
for the stock or in any Of these trans
actions
'Ho never BOUGHT share OF Boston
a Maine stock where the New Haven
d.l not furnish him The money.
Tie never sold a share Of the Boo
ton a. Main stock except as the New
Haven dictated.
An securities nominally held By .
The Willard company we're kept I'm n
subdivision OF the vaults % the New .
Haven
THE Billiard company was ORGAN. f.
,zed by the general counsel Of the .
New Haven
The Narigation company furnished T
tho $1,000 600 for which the Billiard
company was capitalized Billiard .
tcsuhed that be fid not nay any 81
hia own money for tho stock
The Billiard company bought other 4
Boston . Maine stock in addition 20 b
the 100 qf9 shares
There is no evidence that the Rlll. d
ard company acted for or on behalf .
" any interest other than the New
Haven
The whole capital stock % tho Rui.
ord COMPANY was used as his own bv
harlos s Nellrn on collateral aorur d
Itr Tor hi7 own personal borrowing
The billiard company paid ONT Of
.fe treasury 1915 900 20 enable John 4. .
lii'lari 20 rrroeress himself Of mo
3. nnN.nn capital stock OF that com
panv after tho same had been pledged
BY Mr. Nolicn
purnoscly Burned Books
j T. Billiard pirposely bnrned hIs \