Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-16
FINAL SMASHING OF
NEW HAVEN COMBINE
WILL BEGIN TODAY
Decree of Dissolution Ex-
pected to Be Filed After
Conference With Depart
ment of Justice Officials.

Dlsintegration of what is virtually the
last of the big railroad combinations OF
the Countrywide New York, New Haven
and Hartford-wil begin officially today
In New York at a final conference be-
tween the railroads counsel and the De-
partment of Justice. A date for filing
the decree of dissolution in the tinted
likely that the decree will be recorded
later today, or by noon tomorrow, at any
rate.
At a meeting yesterday of directors of
the road the necessary steps were taken
authorizing executives of the company
to divest the corporation of control of
the Boston and Maine and It's 16 leased
lines, of control OF the Eastern Steam
ship Corporation, of control of the Berk-
shire trolleys and of ownership of the
Connecticut ana Rhode Island trolleys.
Two more directors resigned at yes
terday's meeting of the board. They were
William Skinner and Morton f. Plant.
No effort will be made to name their sue
cesscrs when stockholders of the New
Haven hold their annual meeting Oc-
tUber IS. 1t is expected also that Samuel
hallfOa0,
will at this meeting decline a re-elec-
tion to the directorate
An official estimate of the value Of the
properties to be given up by the New
Haven under the pending decree puts It
at upward of S135. 100000.
Two of the demands of the Govern
ment have already been met bv the New
Haven. 1t has released its joint control
with the New York Central of the Boston
and Albany. 1t has also sold its ma
jority holdings of the stock of the Mer-
chants and Miners Transportation Com
pany, loss of $3,594,50O being entailed
thereby.
Since the Government has receded from
Its demand that the New England Rail-
road Company as 1t originally existed
when taken over by the New Haven shall
become an independent system and be
operated as SUCH" and that the New
Haven's interest in the Rutland Railroad
shall be given up. there is but one other
detail of the unscrambling to be ar
ranged. This is the fate of the Sound
steamship lines. upon which the Inter-
state Commerce Commission is to pass
under the provisions of the Panama
Canal act The New Haven has formally
petitioned for permission to retain them.
and has the backing of literally hundreds
of commercial organizations in Southern
New England
Four hundred thousand shares of the
Connecticut company, which owns all
but 10 miles of the trolleys in that
State, belong to the New Haven. These
shares are to be trustee6.
OF the stock of the Rhode Island COM
pany, which owns all but ~ miles of
the trolleys in that State, the New Haven
owns $685. shares. This stock is also
to be trusteed
The other trolley holdings that are
to be disposed of include 5000 shares
and S67s.O0O of the bonds of the New
York and Stamford Railway Company,
the New Havens rights to the capital
stock of the Shore Line Electric Rail-
road and sl3, 100000 of the gold notes of
the New England Investment and Sc
curity Company. This last is a volun-
tary association. owning the stock of the
trolleys. The New Haven,
however, guarantees it's interest.