The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-20

whenever dividend time came ne would re-
oelvo the memorandum which would state
You hold the certificate OF so many
shares of New Haven stock" lie was
interrupted by Mr.. Folk
Did you know from whom these
memoranda cameY'
mir. Byrnes died while the trans1c-
ton was going on and they came from
the person who succeeded him
How many requests were presented at
the dividend period7'
II don't know. Some OF the stock
stayed in my hands two ar three years
ON this stock received dividends which
belonged TO other parties
Were these requests presented HI mes.
sengers?"
Almost entirely" sad Mr.. Mellen.
TO the best Of my recollection the stock
was punched as II 1t was held by one
party. | think the dividends were very
largely paid In one check"
y. Did your finance committee know
that you held this stock? \. You will
lind that the stock was put Ia my hands
through their direction.
O. I'D the finance committee know that
this stock was being held to lie turned
over in the manner indicated when these
changes ip the Wcstchcst,r franchises
were made? a. They knew was ne
gotiating with Mr.. Byrnos
O. Did you ever have any CONVERSE
ton with Rockefeller. Miller or Morgan
on the subject? A. doubt It, l think I
carried it TO completion and made a re-
port when | made my settlement
The board OF directors knew what was
doing. as that amount OF si2O0,oO0 grew
TO Si,G00.000.
Percy 4. RocLcfclirr's Note.
Mi Folk exhibited memorandum
showing that Percy 4, Rockefeller a son
Of william Rockefeller. gave note for
SiO.O32. secured by the shares Of the
Westminster, this money coming from the
treasurer OF the New Haven. Mr.. Mollen
vas asked to explain this transaction.
II think that the situation was like
this" said Mr.. Melen. There had been
a loan by Mr.. Rockefeller with West
chester as collateral don't know to
whom. The stock was transferred to
him and | took up the transaction. l
only knew that he held this stock as col
lateral. We bought up the loan and got
the stock. That is the only case of It's
Kind that ever came to my attention.
Solicitor Folk then reverted to the pay
ments made in cash by Mellen to the hold
ers of his due bills. These we're to per-
cons Mellon did not know. /
II think" said Mr.. Melen, that more
messengers came to collect dividends than
TO cash dye bills | formed the opinion
that somsbody was collecting the divi-
dends O., that stock in block and distrb-
uting the dividends. Who that somebody
Vas I cannot tell you"
2. How many shares OF Westchester
were turned in? A. My best recollection
would be somewhere In the vicinity OF 49,
600 Twenty-Five thousand shares came
through the Byrnes transaction.
q. Now, this Westminster stock was
practically of no value? a. | regarded
u at the time as of no value. ex-
pressed my view last week when l said
1t was worth about 10 cents u pound. 1t
may have had a potential value.
Two Letters shown.
Mr.. Folk then showed Mellen two let
lefh Wnicn the Wltncsa ndu WTltlcil, one
to l.. NJ. Herr and the other to Andrew
b. Humphreys. The letter to Mr. Hum
phrey showed that Mr.. Melen had little
use for the New York and Port Chester
route. This letter was written in 1905
before the New Haven began to acquire
the Port Chester road Here is the letter
Dear AIR. Humphrey Acknowl-
edging your personal OF the 18th,
which has just reached me.
According to the press am doing
the very best | can for your Port
Chester or Bust scheme. and / sup
pose IL was out OF consideration for
this fact that you were good enough
to second my nomination for member
ship In the club. ! have been ac-
cused OF almost everything In the last
few weeks except being an honest
man. But the sum of all the accusa-
tons. the one that worried me the
most, was that controlled the New
York and Port Chester The knowl-
ed;o Of this fact when it was pre-
sented to me In cold type 'phased' me
for few moments and 1t appeared
kHI1 To1lc Lou