The Bridgeport evening farmer., 1914-10-09
NEW HAVEN" IS CONSIDERING OTHER SUITS TO COMPEL
 RESTITUTION OF PROPERTY
Annual Report of Company to Stock= holders Show Many New Names in Directorate === Large Reduction in Surplus


 New Haven, oct. s-The annual re- & Hartford Railroad Co, which is in the hands of stockholders today. aa- though for the fiscal year ending June 30 last, has been brought up to date by the insertion of the list of the com OanS,s directors as of September 2s. Only twelve directors names in the list of June 30, 1913, are in the list pf September 29. 1914. and the latter list is of a total of only 20 as compar- edl with twenty-six in the list Of more than year ago.. Two of the present directors are A S May, the company treasurer and E. Clark, the secretary who it is understood continue until the Rnualal meeting this month elects 8 new board. Eaexen of the present directors re- side in Connecticut
 Regarding the prosecution of John H. Billiard and others recently begun, < and other possible prosecutions the re- port says:
 ..SpeciaI counsel were assigned last spring to an investigation of the af- fadrs of the Billiard company as far ns they affect the New Haven com . pany- Requests for information hav- Ing rr-oved sineff ect1ial orders have been given to institute Judicial lproceedings to compel an accounting Counsel are also carefully considering whether the testimony obtained by the commission pr elsewhere evidence can be found that will enable the company to bring an effective suit against any other par ttes to recover funds alleged to have been improperly diverted from the rompAnyss treasury
 Increase in Debt
 The. outstanding indebtedness of the eompzny and it's leased lines in the hands of the public (not including that held in the treasuries of srD- sidary companies) has been incr reased during the year by the amount of $4, 592, ,26o,OOo.
 Insurance Funds.
 As no aDpropriations have been 41aa16se by the New Haven company to fhe fire insurance and coal insurance funds being charged to operating e1- penses it was thought unnecessary to continBe these funds and they were cancelled and contracts for insurance H,s placed. the securities and assets of the various funds turnedN into the treasury of the New Haven company ana the reserve in those funds cred tied to the profit and loss account of the New Haven company
 No aDpropriadion has been made to the accident and casualty fund since June 30, 1911, and it was cancelled For the 1913 fiscal year there was charged to the accident and casualty reserve $3ST, T44.21. for the 1914 hScai year $318, ,324.93. leaving $1,042,- 59717, which has been set up las 9 reserve to take care of unadjusted personal injury claims prior to July ], 1914.s
 The New England Steamship conn pany marine insurance fund was cam celled and contracts for insurance placed. the securities and assets turn ed into the treasury of the Steamship company and the reserve in the fund credited to the profit and loss ac- count of the Steamship company. The securities were subsequently sold to the New Haven company
 Merchants and BI1ners.
 Because of the attitude Of the fed eraI authorities and the very serious financial condition of this company, the securities of the Merchants and Mfners Transportation company were sold in April. 1914 Additional capi- tai was needed to finance the Mer- chants and Miners Ira nsportation company which the New Haven com pany was unable to furnish. On ac- count of unfavorable condfd ons the gale resulted in loss of s, 594 GOO.
 These securities were held by The New England Navigation company and their cost was reflected in the capital stock of that company. The capital stock of The New England Navigation company was reduced by 35.945 shares, the New Haven com paray's investment in the Navigation company was reduced like amount 41