The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1914-10-07
AFTER BILLIARDS. MILLIONS
Road Seeks to Recover Big Sum Al
legged Lost in Boston & Maine Deal

New Haven Conn, Oct. 1.-THE
New York. New Haven and Hart
ford railroad company and the New
England navigation company yester-
day brought suit in the New Haven
county superior court against John
l.. Billiard of Meriden, Ct, and six
other officers of the Billiard company
for the recovery of S3,824,147, alleg.
ing fraudulent action in connection
with the sale of the Boston and
Maine railroad.
The complaint sets forth that Mr..
Billiard as holder of the Boston and
Maine stock owned by the New Ha-
ven previous to 1908 had never paid
nor accounted to the plaintiffs for
the sum of $3,S24,147 in cash held by
him in secret t,ust for tho New Hav-
en- road TO rthe purpose of cOncealing
the actual ownership 1t is alleged
further that Mr.. Billiard falsely and
fraudulently claims said sum trans
fered to him by the New Haven road
as his own property" 1t is charged
that all the defendants received por-
tions of the sum from Mr., Billiard,
knowing that he was trustee and that
they have never paid nor accounted
10 the railroad company.
The entire history of the Boston
and Maine stock from the time of its
t'ansfer to Mr.. Billiard as trustee on
June 80, 1908, to the transactions
connected with the transfer of tho
shares by Billiard to the Boston rail
road holding company in October
1909, is set forth in the complaint.
The history of the financial t.ansac-
ton contains the statement that the
New Haven road wished to divest
itself OF the apparent ownership of
the shares of stock in the Boston and
Maine and transferred the same, 109,-
94S shares in all to Mr.. Billasd. TO
be held in secret trust for the benefit
OF the company This was done, the
complaint recites, to avoid possible
litigation, so the transaction was en-.
tered on the books of the New Haven
road and the New England naviga-
ton company as a bona fide sale at
the rate Of $l25 a share The books
showed payment of S11,000,000 and
unsecured notes of Mr.. Billiard for
$2,74S,50O. The amount was actually
obtained by the New Haven road
from the National city bank of New
York upon notes signed by Mr.. Bill
lard and secured by shares of stock
of the Boston and Maine railroad
company deposited with the bank By
the railroad
In November 1908, it is alleged
Mr.. Billiard bought more stock of the
Boston and Maino and received the
sum of SL000.000 TO pay TO the same
from the New England navigation
lie gave an unsecured
note. Later in June. 1909, the Boston
railroad holding company was form
ed for the transfer again of the stock
held by Mr.. Billa d. This was an,
other pretended sale, the complaint
says, and the New England naviga-
ton delivered money payment Tor
those shares. Mr.. Billiard transfer. ed
to the Billiard company in October.
1909, $14,250,OO0O. The complaint
shows the course taken by the fur
Their transfer of the different shares
of stock and what was paid for il, |
concluding with the allegation that
as trustee of the New Haven roads !
Boston and Maine shares Mr.. Billiard !
has received $3.S24,147 in cash, but
has never rendered an accounting of |
ii to the company.
Besides Mr.. Billiard. the following |
are named as defendants Charles +!
r. Linsley OF Meriden. Charles ). Mel |
len, Samuel Hemingway. Edward d. |
Re bbins, Samuel c Morehouse and |
Harry V. Whipple. all of New Haven.
All are directors of the Billiard com.
pany. The suit is made retnrnable
IN the superior court in New Hayen
he first Tuesday in Novembe..