The Birmingham age-herald., 1914-06-04
J. s. Elton and William Skinner Before I. C. C.
 At Washington
THE ACQUISITION OF
 PROPERTY EXPLAINTO
Witnesses State Natural Growth of New England Figured In Fi- nancial Dealings-Wanted
 to Increase Facilities

Washington. June 3--.James $. EI- skinner of Hoiyokc. Ma~s.. directors of the New York. New Haven and Hartford railresd. testifying today be- fore theaNfnterstatc commerce. commits sior at its investigation Into the af- lfafrs Of the road. said the acquisition of various New England troIleys. steamship lines nnd other properties nt q cost of many millions of dollars. con stit"ted part of the New Haycn's comprehensive pInn to increase its fla cIIities. NN
 Many properties thus acquired. 1t was. stated, only had a prospective value, the natural growth of New England being taken into consideration by the drec- tors.
 MT. Elton. questioned on this point by William Nelson Cromwell who appeared as counsel for several directors. declared the purchase for H1.eooooo of the New York, Westchester and Boston road. the stock of which former President Mellen of the New Haven testified was worth only "lo cents pound was for the purpose Of obtaining a foothold In the metropolitan district and obtaining greater terminal facilities in New York
 Changed Methods
 Mir Elton testified that the New Haven directors had changed their methods and now Were not influenced so much by one or two men like J. r. Morgan and former President Mellen as they formerly were. lie said the directors now directe and had learned great many things" He added that President Elliott was more deliberate than Mir Mellen and did not rush them off their feet"
 MT. skinner said he believed If things had been Ellowed to go on and the New Haven and It's officials had not been sub jected to inimicai inquiries and legislation the property would have pulled out all right. perhaps in five years" He as- serted that MT. Mellon oolild have re- tained the piesideucy uf the road had he. so desired, as he had a majority of the directors with him.
 Mir Skinner will resume his testimony tomorrow. He will be followed by Law renee Minot of Boston, New Haven director during part Of Mir. Melens administration
 Elton, d director of the New Haven railroad, was the first witness called today when inquiry into that systems financial affairs was resumed before tho
 
 Mir. Elton said he was present at tho meeting at which Messrs. Morgan. Rock efeler and Miller were appointed committee in the New York. Westches- ter and Boston transaction and also when they reported.
 He felt the expenditure of over si1.- o0ooOo for the road was extravagance. but had absolute confidence in Messrs. Morgan, Rockefeller and Miller.
 He thought the dominating figure at the board meeting was Mir Mellen, but admitted the board usually acquiseced in recommendation made by J. Pierpont Morgan.
 He remembered no definite instance where the wishes of Mir Morgan were opposed.
 MT. Elton did not recall anything about the 5000 shares of stock the New Haven turned over to Mir. Mellen with which to acquire 24,000 shares of Vest chester stock. as testified by Mir. Mel len. He said he knew nothing of the transaction with Police Inspector Byrnes, except as he had read the tes- timony of MT. Mellen.
 Disapproved Expenditure
 Witness said he had disapproved the expenditure of s20.000000 for taking over the Rhode Island trolleys. He thought MT. Mellen proposed their ac- quiSltiOH.
 Why were you afraid to make ob- jections at the meetings? he was asked.
 Naturally, timidty, 1 suppose" was the reply. You see 1 did not pretend to be a railroad man"
 Were the other directors as tmid as yourself?" Commissioner McChord asked.
 No" said Mir. Elton.
 He added William skinner. another director, at times expressed disapproval in the presence of MT. Morgan.
 MT. Elton said he was a director also of the New England Navigation com pany.
 When asked If he could tell the diff ference between meeting of one board and meeting of another he an- swered
 We just passed from one into the >~~-~~>~--~~~>->->~>~>~>>- >-~~>~~>-~-~~~-~~-~~~~~n
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