The evening world., 1914-01-10
new HAVEN HEADS
AGAIN CONFER WITH
Acknowledgement
New Financing Plan, 1t Is
Said, to Extend S4s,o0o,OOO
Notes, Due March i8.
SLUMP IN THE STOCK.
Morgan & Co. Deny Knowing
of Financial Plan-"When
Issued" Contracts of.
SLUMP IN THE STOCK.

|
WARRINGTON. Jan. TO- Howard
Eniett chairman Of ne New Haven
Railroad. accompanied BY President A.
T. Hadisy Of Ysis University. who 10 a
director ef the New Haven. held an.
other conference to-day with Attorney
General Mcfssyno,ds and ofaeiais oS the
Department Of Justice IN an effort to
devise . satisfactory plan Of dissolution.
The principal subject Of to-Aay's dis.
cussSon was the Connecticut and west-
srn Massachusetts, trolley linss owned
BY the New Haven. Lucius 9. storrs,
president Of the company's trolley sys.
tenn. was In Washington to supply any
detailed Information REQUIRED,
Concerning the Massachusetts, su.
prsms Court decision against the pro.
posed oes.eoo.ooo convertible bond 10.
suA Mr.. Elliott said:
We had not been unmindfui Of the
fect that the court decision might be
adverse and. consequently. We had
other prspartions In mind. We are now
planning to meet the situation IN some
other way. but am not prepared to-
day to say jAt what this will be-"
BOSTON. Jan. i0.-lt 10 reported here
that anticipating an adverse decision on
the proposed bond issue. the New Haven
obtained q pledge from J. p. Morgan q
Co. OF New York: Kidder. Peabody 4
Co.. and Lee. Higginson q Co.. Of Bos.
ton, that the ~. .0o0. 900 short term notes
due March 10. next. Issued IN anticlpAs
tion OF the bond Issue. should bs r..
nswsd for three years. .
NEW HAVEN. Jan. le.-ln banning
circles here Il 10 believed that definite
arrangemsnts Of an Alternative financing
plan for the New Haven Railroad viii
be postponed pending the result Of cur
rent negotiations With the Department
Of Justice to settle the company's legal
status. Bankers say that conditions are
now much more propttaous that whom
NE convertible bond issue was a..
uouneed last summer end that osttsr
terms Tor The company might bs o.
tained. q, -..... ...
On the New Yesk steok nxshanss t.
day. New Haven stool, met an opaning
slump ana then . rally. The frst sale
was ct u. - compared WITH iast nasht's
closing price Af Vi.>., Later on the
stock strengthened and closed At 7S.
Luring the past two months there has
bssn active dealing on the Stock Ex.
change and the curb In the proposed |
New Haven bonds when and - II is
sued" ~ ~ result Of ths Courts
decision. there was . general cancslla-
tion Of contracts to-day and all bets
were declared OF. This was sad blow
at some OF the brokers. whose paper
profits amounted to several thousand
dollars.
The New Haven per cent. short term
notss that we're put out last autumn to
tide over the period Of bond issue litiga-
tion we're quoted to-day % selling
at - -
whiis no Banker would sxprsss dsfi.
mite opinion. Il was generally undsr-
stood that when the New Haven Or.
raness for . new bond issue To meet
the requirements laid down In the
courts decision bankers Will net Get
the enormous commissions ana esnSr.
Gus terms grantsd In the original con.
tract. There viii bs Q decided shavins
OF the raks-oa. which will bs Officially
accounted for ~ the statement that
money market sondltiens are much
easier now than last summsr when
the original deal was made.
J. p. Morgan to-day dsnisd the rsport
chat . syndioats headed By ais Arm
would renew the ets.oooooo New Haven
notes for three years or any ether term.
He said that while the possibility Of an
adverse dscision had been cons,d srsd. no
alternative hnancins plan had been
complsted.
Henry p. Dawson Of Morgan . Co.,
who sailed for Europe to-day. said: Il
coosidG the dsciSion Of ne court
risht good thing. II this b In accord \
sncs with law. entirely approvs the J
action Of the ooust In turning down the
oompany's application. I en- a. the
opinion that an Application for Q bono
iasus without the convrtibls feature
would os granted We have not YET
taken up the subject Of new appaioa.