Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-05-08

| Mr.. Billiard, less a reasonable compen-
sation for services and the amount of
| his actual expenses in connection WITH
the purchase and sale OF Boston s.
| Maine stock, be first vested in the New
! York, New Haven & Hartford Railroad
| Co and subject to the disposition OF
| the directors
| Now, what have you to say to
that?" asked Mr.. Folk.
Mr.. Mellen must answer that ques-
| ton
you were elected a director of the
| New Haven in October, 1909, three
| days after that meeting and a few
! days after the Billiard Co. was form
| ed?"
Eyes"
| Original Capital
who paid the original capital of
| $4,000 of the Billiard Co. %
TT is hard for me to remember as
| to that"
Did Mr.. Mellen?'
mo"
did your
Il think so.'
Mr.. Billiard was shown checks made
ont to him by the New England Nav
igation Co, and was asked:
Didn't YOU pay the capital stock
when it was increased to $4,000, 900 out
of that money!"
YES"
| did not the New Haven Road
have an option on those 1o9,a4S
shares?"
"No."
THE Boston & Maine paid dividends
.,f e.YD IL
had those shares, did you receive
| dividend?"
1T took the dividend
Witness Memory Poor
Mr.. Folk showed the witness a check
for 100000 drawn on the Shawmut
National Bank of Boston, signed by
H. 5. Kochersperger, vice president of
the New Haven and Endorsed by Mr.
Billiard and inquired what this was
for.
Il don't know" answered Mr.. Bill
lard.
Did you ever talk with Mr. Mel
len regarding your profit of s2,74S, 700
in the Boston g. Maine Transaction
mo"
Mr.. Billiard was asked if he had
loaned the New Haven Road $500, 900
in January, 1912. He said he knew
nothing about this.
The witness was questioned regard
ing the arrangement with Mr.. Mel
len by which the 1907 shares of New
Haven stock were bought from the
New England Navigation Co. for the
purpose of boosting. the market.
Don't you think 1t was wrong to
try to make people pay more for the
stock than it was worth? You wanted
to work it off on the public. didn't
you?" the witness was asked.
well you can call it the public IL you
want to. Some stock had been worked
off on me-" +tae
Agent of New Haven
Mr. Billiard said his company acted as
agent of the New Haven in this matter.
Did it not generally act as agent of
the New Haven?"
mo, sir" responded Mr.. Billiard.
Intercepted as to the purchase of $780,
600 bonds of New England newspaper.
Mr.. billiard said the bonds were for HIM
self personally.
What were you doing at the time that
made you want to influence public
opinion?"
Il bought the bonds I decline to say
anything more.
did Mr.. Mellen have anything to do
with this purchaser
II do not remember
At this point j. II. w. Grim, attorney
| for Mr.. Mellen, interrupted to state that
Mr.. Melen had told Mr.. Billiard that he
might make money by buying the bonds.
Mr. billiard Deyt aSled ina knavy
anything about a sealed envelope said to
contain notes, etc, to the extent of $685.
900 turned over to the Billiard Co. from
the New England Navigation Co. Mr..
Billiard said he did not. Mr. Folk in
troduced a record of a meeting of the d.
rectors of the Navigation Co. held Dec.
II. 1909, in which reference was made to
the envelope. Mr.. Folk said the record
showed Mr.. Billiard to have been present
as one of the directors. Coming to the
winding up of the affairs of the Billiard
Co., Mr.. Folk asked what were the as
sets of the company.
WELL" replied Mr.. Billiard. there was
Mr.. Mellen's note for $4,000. told of in
my statement; the $4,000 new bonds, hold
ings of stock in the Eastern Steamship
Co. for about S1,500.000, and stock in the
New England Powere Co. for 5000
Have you these assets?'
81 decline to answer"
Mr.. Billiard later said Mr. Mellen owed
the note to him personally and that the
steamship stocks and bonds belonged to
him.
Mr.. Billiard said he had nothing to do
with the organization of the Meteropoli-
tan Steamship Co.