Norwich bulletin., 1914-05-26
Morgan Denies MeIIen's Tale
TAKES FULL RESPONSIBILITIES
 FOR LATTER's REMOVAL
DEFENDS HIS FATHER,
Will Place Records of His Firm and Personal Records of His Father Now Available Before Any Proper Tribun. al at any Time.

Available Before Any Proper Tribun.
 al at any Time.
 New York, May 25.-J. P. Morgan tonight characterized as untrue the testimony of Charles s. Mellen. former head of the New York, New Haven ana Hartford railroad. before the In Ierstate Commerce Commission in Wasnlngtons last week, that J. Pier pont Morgan concealed from MT. Mel len facts regarding the New Haven road which MT. Mel1en should have known.
 MT. Morgan offered to produce be- lore any proper tribunal at any time the records of J. P. Morgan and com pany and the personal records of his father.
 Taking full responsibility upon him self for the change in the roads pres loency by which MT. Mellen resigned and gave way to another MT. Nor gan said it was untrue that his fla ther in any sense took from Mir. Mel len the management of the road or any part of it's affairs
 Regarding absorption of Boston & Maine by the New Haven, Mir. Morgan said his father deemed it advisable for puDhc benefit, since it was recognized by others as well as by the late Nor gan himself, that changing economic conditions threatened the commercial position of New England,
 MT. Morgan's statement tonixt was first direct reply to MT. Melien's ashlngton testimony, which he ex- amlned, he said, from a stenographic report The statement read.
 became a director of the New Haven railroad in April 1913 and re- signed December 31st of the same year. The only reference to me per sonaIly which l have found in MT. Mellen's testimony has to do with the fact which l. as a director of the com- pany. called upon him and told him that change in the presidency was desirable. For any blame that att taches to that act, whether it be ao- corded me as a member. as board or directors, or as an individual, I &C., cept full and complete responsibility,
 There is, however in Mir Mellen's testimony something more important to me than any possible criticism of myself. MT. Mellen in substance charges my father with having con- cealed from him, the president of tho company facts which the president Of company should have known. Every one who knew my father knows this to be untrue. During the last ten years of my fathers life, he was abroad more than one-third of the time. During the last three years of his life. he was abroad one-haff of the time. As the world knows. he was actively connected during this whole period with many different affairs That he would have had the time, even if he had had the desire to in- terfere actively in the management of the New Haven is impossible.
 Says Father Acted in Good Faith
 Mir. Mellen is right in describing my father as a forceful man He fG right also in picturing my afthers deep interest in New Haven affairs. My father was born in New England and he believed in the New Haven rail- road He recognized, as others have recognized, that with the shifting of the center of population in this coun- try and the changing economic con- dltlons. the commercial position of New England was threatened and that change in this comm ercial position would. unless an effort were made to counteract it, result in an unfayorable effect upon New England's leading railroad. He undoubtedly believed that a railroad peculiarly situated aa senger traffic at very low rates and with expensive improvements required all along it's lines, must make every effort to increae it's traffic and main tain It's position: He believed, more over. that the New Haven and tho Boston and Maine, which were not in his opinion in any sense competin9 lines. could be operated to the bene- fit of New England more advantaee- ously together than apart. and that no harm could come to the public from this amalgamation by reason of the full measure of state or National regulation which the laws afford | am quite ready to believe, also. that he agreed with Mir Mellen that the entrance of the Grand Trunk railway in Providence would have iuvolve4 the unnecessary duplication of facfi. I ities for which the New England pub lie sooner or later would have had to pay. But the imputation that my fa- ther in any sense took the manage ment of the railroad. or any part of it's affairs. out of the hands of he president is untrue.
 Details of Profits of Firm.
 "on the sth day of March of this showing in detail the total profits from every source to the firm of J. P. Nor gan and Co. to any of it's members growing out of transactions of any kind whatever. connected with the Neew Haven lines. for a period of 90 amounted to approximately 1850, 600 which included their compensation for handling alone or in connection with others, securities of the par value of sSsS,ooc,ooo. The records of my firm and the personal records of my fla f ther are still intact: they are available and ready for production before any proper tribunal at any time.
 Tn. the present state of the New Ravens affairs the shareholders ere entitled to have public every obtain able bit of evidence, bearing not one but on all sides of the question Mean while, the honest and capable man now managing the railroad should have the active cooperation not only of all shareholders but of all public bodies as we'll, to the end that this great property may be restored to the posi- ton to which it is entitled