The Detroit times., 1914-05-19

How long were you president OF
the Northern Pacihc?"
Six years"
Who made you president"
MIR. Morgan.
How did he do it?'
lie called me on the phone and
asked, Is that you Mr. MellenY
said II was. lie sdtd, Can anyone
hear what We sayg said No. lie
asked II ! would take the presidency
and | said | would. That was all.
Mr., Morgan was never effuslve in his
conversations"
How, in your relations with Mr.
Morgan, as head OF the New Haven,
we're you Mr.. Morgan's MANI"
Il enjoyed his confidence. was
Very proud 10 be known as Air. Nor
gan's man, ! tried to merit his con
fidence."
Mellen said he was sometimes call
ed Morgans Office boy"-by the
newspapers.
Who dominated the New Haven 5
tinances?"
Mr.. Morgan and Mr.. William Rock
efeller were continually on the finance
committee during the time was
president. Mr.. Booker and MIR. Led.
yard were also members"
A telegram from Jacob II. Schir,
dated Nov. 20, 1908, read into the
record, asked permission 10 bid on a
bond issue OF the Boston & Maine.
Mellen said II was refused, as the is
sue was assigned to j. p. Morgan AZ
Co.
What would have happened IL you
had given this bond issue to Mr..
Schiff, for Kuhn, Loeb q Co., instead
of to Morgan & Coz"
81 suppose II had acted contrary
to the wishes Of the finance commit
tee ! would have been worthy Of i'm.
mediate dismissal" Mellen answered.
Taxing up the Westchester deal
Mellen admitted that he was made
stakeholder" OF the 5000 shares OF
the New Haven TO be exchanged for
"a 900 shares OF the Westchester com
pany because Inspector Byrnes want
ed TO do business with an individual
instead OF with a corporation, las the
affairs or corporations We're uncer-
tain"
Mellen said there were only about
issued in this transaction, the balance
OF the deal being a stock exchange
on the basis OF one share of New Ha-
ven for three OF Westchester
Mellen said so far as his payment
of dividends was concerned he was
convinced some one collected on them
en- bloc and distributed them.
But you will have TO search
else To find out who TINS
collector was" said Mellen.
He said there was other Westches-
ter stock besides the $4,000 bought
from Byrnes, acquired at that time.
He thought the total would reach 49,
600 shares.
Asked whether he still held thai
the Westchester stock was worth 10
cents a pound" Mellen said
Yes, actually, but 1t had poten.
tial value. The company has fran
chises TO tap a very rich territory.
by Mr. Hurd, OF the West
inghouse company, in 1904.
II told him | considered the road a
strike against the New Haven, and
would have nothing to do with IT.
There were TWO companies, the west
chester and the Portchester systems,
and neither were worth
Letters written by Mellen in 1904
and 1905 recited his views that both
systems were projected to hold up
the New Haven and were never in.
tended as bonahde propositions.
81 asked Mr.. Morgan in 1907 for a
detailed statement" said Mellen,
showing how $11,t55,ooo had been
spent He was very much excited
at the time and had humiliatlne ex-
perience, one which hurt me very
much, but would not like to relate
here. The substance Of IL all is that
| did not get the information"
Folk insisted that he should answer
in detail but Commissioners McChord
upheld Mellen.