The Bridgeport evening farmer., 1914-05-26

F3o0tEAC r We1S d EAfl1slA amount ~ run approximately to the figures I gave you $5.o0,O0O and $10,0OO.00O.
 O. This resulted in S1OO par Cf debentures being exchanged for each two shares of Fair Haven and West vile stock @. Were the Fair Haven aId West vile $50 shares? A. Yes.
 A. had carried 1t in my mind that they were $1oO shares. But that does not make any difference in my calculation It was in round numbers 1 $5,oO0,o0o and $10.OOO,0O0. e.. This. purchase was made A. Tn 1904, in the Spring. @. Then in June, 1904, the stoclE in this company was sold to the Con solidated Railway Company A. That was our Trolley Com pany and we, put everything into that in the way of control o. Tn this sale which embraced 193,334 shares of Fair Haven ana Westville stock and 9,94s shares of Meriden. Conn. railroad stock. the lat ter costing the corporation $198- l5175O. were not these stocks, S2,5~o in cash, delivered to the Consolidated Railroad company for 92.oOo shares Of it's stock2
 A. If the record shows t that is the fact.
 e. Do you recall the transaction9
 A. recall the fact that after we purchased the Fair Haven and Wsat- vile Street Railway we merged the Stamford, the Merfden. and the Fair Haven and Westviiie into the Worees- ter Connecticut Eastern, and chaneed It's name to the Consolidated Railroad. Q. Assuming the the Consolidated
 Railroad stock had par value fhr difference, between what 1t received in ! the stock and what it gave represented
 loss of $6es,oO0 in round numbers
 did it not
 Cost of Fair Haven Stock A. I do not think So. think tbaf the Consolidated stock repressntef 1 the New Havenss investment iu all tbs i troIleys it owned up to that time O. You think these items of u,ront ters7
 A did not keep the books and therefore cannot say, but thinE you will find that the New Haven eor no. stock except tc cover it's purchaea price.
 e. 193,334 shares of Fair Haven stock cost ss,ee, 700. and this a.s4s stock cost $1gss ss17.6O. Then there
 was cash paid by the New Haven. | $2,570 making total value delivered to the Consolidated of 49,sss,0s7-50, and there was received from the Con soIidated Railway 92, 900 shares oE 
 would make difference 6f s66S.- e87.5O
 A. The New Haven owned evarr share of the ConsoIidated Railway stock, so do not think it was rnateriai whether it sold t for more or less
 e. Then this difference was charged to the cost of the difference of the Consolidated Railway stock rfa5 Iit9
 A. do not remember. e. You do not remember thatg A. did not keep the books O. Did you give anyone an order to make that charge A. I would not think so for iii the first place under the orders. ss I have. understood ttaenps of recent years, the order from the president of the road even to make change in his boolzs different from the rules prescribed for keeping the books @. Then in 1905s 1.71s shares or Hartford Street Railway stock were purchased2 1 A Yes Q, And s16s,500 in bonds of the East Hartford & Glastonbury horse railroad for s2,6s5.s05 was also pur- chased, was it2 A. I remember we purchased tle East Hartford 6 Glastonbury railwasr and I remember we purchssed Che Hartford Street Railway. but I do not recall the prices paid but the books will show.
 e That was s2ss 2 share Ter ths stock2
 A That is right renernBer
 O At $2s5 par-tflat is for the bonds of s1o0 par value2 A. That is the price pafd-I re- member O. Why was this price pafd2 A There was a. very sI1alrrr1 -cr77o rles- tition for the control of the Hartford Street Railway company. We had to pay very large price to get it
 o. Who was competing with you for the Hartford Street Hallway?
 A I think 1t was firm in New York. am not quite sure can glva the name, but 1t was the firm in New York that was interested in getting the electric line. the gas and the trolley system all together, and there was very sharp bidding up ofsthe pride ot the Hartford Street Railways ana H cost us the most. I think, of any prop erty we bought.
 O. Was the Connecticut Railway & Lighting Company competing
 A It may have been--tle conpee- ticut Railway and Lighting Company may have been conlpetitor They were our great competitor at that tina in all trolley matters.
 Q. So in order to avoid this com petition you paid a higher price than you otherwise would have paid
 A.. No. the competition Was no competitionnin the sense. of trans portation- There was a competition to get the Hartford Street Railway stock but that was not
 O, In order to get the stock from those who were competing with you in the purchase of this stock you paid a higher price than you otherwise would have paidd
 A. Two parties wanted the same thing. They bid against cash other until one got it. We got it.