New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-18
new HAVEN WAITS
WORD TO DISSOLVE
Directors Announce That
Only Few Minor Details
Are To Be Arranged.

. The New Haven directors have com
Melted all arrangements for the DISCO
luton of the system, as recently ar
ranged With the Department o. Justice
and all that remains is for Attorney
General Gregory and Mooreheld storey
counsel for the company, to agree upon
a few minor details, it was announced
Yesterday. When that is done, the de-
cree will be filed. II is expected the
dissolution will be an accomplished
fact before the next annual meeting OF
the stockholders. which will be held at
New Haven on October 20.
Prior to the monthly meeting yester-
day, counsel for the company filed It's
answer in the governments SUIT 10
force the dissolution. This was filed as
a matter of form and to keep the rec
ord clear. In substance, the company
admits that il had acquired all the rail-
and trolley lines and steamship com
NAMES the government says /. has, put
Il denies .hat it has done anything IN
violation of the Sherman or any other
Federal or state law. Further, 1T sets
I'm that even ii the Sherman law ~
violated, the government Is StoppeI
from action because of the statute o.
limitation and delay in bringing the
suit.
Il is specifically denied that there is
any substantial sitting of competition
Much OF the development OF New Eng
land is due to the improved service the
amalgamatcd companies have been IN
position to give. IT Is held.
Concerning the requirement Of the
New York. Westchestcr & Boston Rail-
way Company, the answer denies that
the New Haven company opposed the
application to the Public Service Com
mission FOR certificate Of public con-
veniencc and necessity, and AYERS that
II favored the granting of such GER
titicate. L. denies also that by any litl-
cation il harassed the New York &
Port Chester Company, and alleges
that minority stockholders of each OF
the companies maintained the litiga-
ticn and that for many years these
companies fought each other.
Tho answer further denies that any
connection with the New Haven com
pany was threatened by the New York,
Westchester & Boston and the New
York & Port Chester, and alleges that
il was commonly known that neither OF
the companies could raise sufficient
capital to build the proposed lines and
that for many years these companies
were insolvent and helpless.
The New Haven asserts that it ac-
ouire1 control of the Port Chester COM
pany, watch controlled the Westchester
4 Boston, for the express purpose or
obtaining new and cheaper route into
New FORK City. than through the Grand
Central Terminal. ut which place the
necessary charges Tor rental. opera
ton and fixed charges paid by tho New
II 10 N q
the last +cw years.
The answer saws that the Westches-
ter e. Boston company had the more
satisfactory route, for which reason,
under all act Of New York. the two
companies were authorized to be
merged. ard the new lines to be built
on the route OF either or both, as pro-
posed on their location maps. The New
Haven further denies that such acqui-
eiton was pursuant TO any general
policy of monopoly, or 20 prevent those
companies from becoming parts of in
tcrstate systems.
At the meeting % tn" directors,
Chairman Howard Elliott reported sub
stantial progress in reducing expenses.
Since the board had met, further re-
duction of $500 passenger train miles
4 day had been effected. making 2 total
elimination Of improbable mileage
since January of 1900 miles. Further
reductions are expected TO bring this
total close to 10000 miles a day.
In making these reductions Mr.. e.
lott said the company had had the CO.
operation Of the communities served.
The directors of the Central New
England, New Haven subsidiary, ac-
ceptcd the resignation of J. II. Hustis
as director and vice-prcsident, on &C.
count OF his joining the Boston &
Maine as president, and J. ". Tomlin-
son, the general auditor Of the New
Haven. ,Has elected to fill the vacancies.
Af.cr me meeting, Mr. Elliott said
that current earnings show improve
ments, the second week in September
showing much better than the first. The
valuation of the road by the Interstate
Commerce Commission is now expected
10 begin on April l, the company now
having all the necessary data ready for
the experts.