The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-20

out or ten when disagreed with him.
q. You owe your place 10 him? A.
| That did not cut any figure. I had Just
as lief not have the place.
perhaps Cow.rdice."
.. What explanation can you give for
making 40 objection at the meeting OF the
board Of directors? A, Perhaps cowar-
dice--1 don't know. I am willing IL
should be put in that way.
.. What were YOU afraid of A. I
stood In good deal OF awe--probabIy a
greater amount Of awe--of Mr.. Morgan
than probably any man 7 have ever met
.. What was the reason YOU made no
objection at the board OF directors meet
ing 10 this report7 A. think the same
reason actuated me that probably actuated
all the others. We did not want TO con-
tend with Mr.. Morgan. They probably
thought he was right. although they had
mlsgivngs.
G. You say they did not discuss Il at
the meeting. but after the meeting they
came around and discussed II with you pri-
vately. Tell US what directors came
around and discussed IT with you pri-
Vately. \. Most OF them were my Con-
necticut directors,
O. Give their names. 4. remember
Mr. skinner was there and Mr. Hemingway.
O. What did Mr.. Hemingway say TO you
after the meeting with reference TO this
report? a. | cannot give the exact Ian
guaEe. but IL ran about along this line (:
We'll, you have been flying pretty nigh,
haven't you, spending $1,000, 900? What
did you do It for?' | said. "You can
search me-" Well" he said, don't you
mink you ought to have more informa-
ton ! said. Yes" lie said, why
didn't you get It?' said. 81 viii tell you
what WIN do, Mr. Hemingway I will
appoint you a committee to go and get IL
from Mr.. Morgan" lie said. mo, you
WON'T That Is the situation. That IL
not the exact language, but that In the idea
that they all had. They were all willing
that I should go and bark my shns but
not one Of them wanted to go and bark
his own shins.
Honesty Not Questioned.
o. What else was said ny Mr.. Heming-
way In relation to this report at that con-
versation? 4. He said he thought we
ought to have more information. did
not have the slightest question and do not
to-day that that money was honestly dis
bursed through J. =. Morgan & Co, but I
do not think we had the information. II
did not satisfy my conscience and IL did
not satisfy many of them. but we all Of
us, think. had about the same amount
OF courage.
Q. Was anything else said by Mr.. Hem
anyway In this conversation with you In
reference Ia this report7 A. Mr.. HeminE-
way Is very mild hammered man but I
mink there was some plain old Anglo
SAXON INDUCED In by some OF them.
You mean by Mr.. Hemingway ?
a, Mr., skinner was present. and think
MT Taft was there, My up-country di-
rectors thought we ought 10 have more
Information, and ! did. and said that they
ought TO get H. and | offered to put any
one on the committee to go to Mr.. Morgan
and got II. and they all dueked
has
separately? a. | think after the meeting
there was quite a little Sanhedrim gath
tred IN my ONCE. | think there were
Brush, Warner. Cheney. Miner. Skinner.
Iatt, Hemingway, J. G. Robertson and
others.
q, They came to your room and held
an Indignation meeting about this report =?
a. No; not that. II was not an indg-
nation meeting, They felt the situation
had not been fully explained to them as
they were entitled to have H.
q. What did any of the Others say?
A, ] remember Mr. Skinner was par
tlcularly disguised that he did not know
more about It, 1t was too large an
amount or money TO suit him.
q. Did any Of these directors say why
they did not raise some question In the
board Of directors meetingY A. They
thought II was all right, and thought
It was all right. and we all voted for H.
~ iH'N tnVuEnt " was MI flgnt
at the board Of directors meeting and
then came TO your ofiice to say that IL
was all wrong? A. They did not say II
was all wrong, They thought they ought
TO have more information,
According 20 Mellen, this was the way
Director skinner expressed himself at
Mellen's office;
Holy Ctesarea Phllippi. what have
you been doing with s11,0Oo,o O0r"
I'm appoint YOU a committee TO go and
ind out" Mellen suggested.
Not on your life" was SINNERS reply
II think there was enough, said by
Mr., Hemingway and Mr.. Skinner 10
relieve the Others" added Mellen. 1T
was rather astonshment than surprise
expressed by them"
Q. How much would you say was the
value OF the Westchester at the time the
New Haven paid sll,00O,00 for Il? A.
II depended entirely on what was done
with II; what tho development was Of
the territory that was tributary to IT,
can conceive Of the Westminster IN ten
years time being extremely valuable and
paying interest on all its cost TO the New
Haven road.
Q. What work had been done on II at
that time? A. There had been probably
about 100000 OF actual work The
! theory on which We went into that scheme
was that the New Haven road should
never be asked to put In this over s5,-
| 900, 900: that then the Westches.er
would be able 10 float its own bonds and
finance itself without any Endorsement
but the New Haven road stood to make
! in the inception OF the scheme, not to
exceed this Investment Of $4,000 900
"EverybOdy's Fault"
@. Whose fault was 1t that this agree.
ment as TO there being no expenditure be-
yond 5000, 900 was not held up to? A.
Everybody. the whole directory OF the
New Haven railroad, II you will recall
the sll 900, 900 was expended just about
the time OF the height OF the panic OF 1907.
II wss utterly impossible TO carry out the
original scheme and the New Haven rail-
road kept putting In little more and a
lit;lo mare ius. Ike the subscrin,icn
book plan pay n little at the time but In
the aggregate II amounted to a tremendous
sum.
u Mas thu nrlvinal unaa ret ndius finn