Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1914-10-22

put of the monorolistic divorce by the
appointment Of three sets of trustees OF
Ave each to whom. II is ordered, the
New Haven company shall assign and
transfer the stock pf the defendant COM
panies for ultimate sales. These fifteen
trustees have been appointed and have
accepted the trust as provided In the
decree
Every item in the decree of dissolution
has been carefully gone over and finally
approved by the representatives of the
defendant companies and the government
officers before it was presented to Judge
Mayer for his signature. Consequently
the proceedings yesterday We're entirely
formal and unusually brief.
Attorney General Thomas Watt Greg
DRY came over from Washington and per
sonally made the motion for the signing
and filing of the decree. The New Haven
and other defendant companies were rep
resented by Morfield Storey. who ap-
peared simply to signify the defendants
acquiescence in the proceedings.
FIVE YEARS TASK.
At least five years will be consumed
| before the trustees may complete the
duties imposed upon them by the pro-
visions of the decree. by stipulation the
action is dimissed against all Of the pre-
viousy named defendants except those
specified in the decree.
The status Of the New Haven road as
an illegal combination. along with the
other defendants named in the decree. is
specified in the first paragraph of the
document
THE court finds" the decree states
that the defendants the New York
g ID,it
pany, the New England Navigation COM
pany, the Boston Railroad Holding com
pany and the Providence and Dan:clson
Railway company parties to comhi-
nations in restraint Of trade and com
anerce among the several States and with
foreign nations and have attempted to
monopolize and now are monopolizing a
part of such trade and commerce con-
listing of transportation by railroad
trolley lines and steamboat lines within
New England, contrary to the act OF
Congress of July 2, 1870
The first article Of the decree PROVIDES
Tor the disposition of the stock OF the
Boston and Maine railroad.
TRUSTEES TO NAME DIRECTORS.
Thereafter the decree delegates to the
trustees the power to elect directors OF
the Boston and Maine, that 1t may Dc
managed entirely in it's own interests
apart from any interest the New haven
has in the shares and In accord Win
public policy and the interests OF the
minority stockholders.
None Of the stock to be transferred 70
the trustees may be sold or otherwise
disposed of until there has been a further
order Of the court. and no such order
tho decree stimulates shall be issued un'
I'll after July /. 1915, unless the Ne"
Haven company gives its written consent
II such an order Of sale has not beer
issued by that date, then, the decree pro-
vides the court will on application, but
after a hearing at which the state o.
Massachusetts has had an opportunity to
be heard direct the sale and fix the terms
and conditions. The trustees are direct
ed to use their best efforts to complete
the sale before January /. 1917. Shares
remaining undispos"d OF sixty days he
fore that date are to be sold at public
auction, land If the Hen OF the preferred
shares of the holding company on the
shares Of the Maine company has no
been released before the final date o
sale the trustees shall release the lien IL
respect of the 24i939 shares of preferred
stock of the holding company held b!
he proceeds), and shall then cause tn
,aid shares of the Maine company t
be sold as above provided subject onl
10 the lien of the 2S,oo shares Of pre-
terred stock of the holding company hel
by other persons"
EMPOWERED TO GIVE OPTIONS
Subsequently, the trustees are empoN
cred to give options of reasonable durf
ton for the purchase of any or all OF II
shares of the Maine company they contr
to either the State of Massachusetts or
''any person or persons whom the trustee
believe to be endcavoring to effect sour
and efTient REORGANIZATION " the Mail
company
The second condition Of the decree d
reefs the transfer of the New Haven con
pany TO the same trustees of a supuat'
number of shares of corporations, the raj
road lines of which are leased to Il
Maine company. The same conditions
control and ultimate sale by the truste
are imposed
The trustees appointed to wind mp 4
affairs Of the New England Navigate
company are Walter G. Noyes, of
Lyme: Lyman +. Brainerd of Hartfor
Charles cheney of South Mancheste
George f. Hin of Bridgeport, and Villa
W. Hyde of Hartford, Conn. The Na'
cation company Is ordered to deliver
them four hundred thousand shares
the capital stock of the Connecticut col
pany which is a Connecticut corporate
and the trolley subsidiary,
To the trustees is given the right to G
ercse in regard to these shares all o. I
mowers to which the owners are entitl
until the shares have been sold the
shares are to be sold at the written
1uest of the New Haven company a
teh price to be received for them mi
also be stipulated in writing by either
president of the company or the cha
man of the board OF directors or the co
pany and approved at a meeting or
board.
The decree sets July |, 1919. as the al
for the trustees to complete their VIC
In this section Of the dissolution fuI
auction also is provided for and the tr
tees also are empowered TO exchaf
shares in the Connetut omp"ny
shares or securities In another corporat
unon conditions of their own making. !
shares or securities 50 received, hoWeV