New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-18
N. H. DISSOLUTION
DECREE IS FILED
Government Now Free to
Proceed with Criminal
Actions.
TRUSTEES TO SELL
B. & NJ. BEFORE 1917
Question of the Massachusetts
Option on Stock May Be
Decided by Courts.

Judge Julius w. Mayer. in the tn'ted
States Coulg. yesterday s.gned the tor-
NAL decree dissolvirg the New Haven
Railroad system as hitherto eonsu-
,uted.
The proceedings were brief and sim
pie. Promptly at II o'clock Judge Mayer
opened court and Attorney General ].
W. Gregory moved for the signing Of
the decree. which had previously been
submitted TO the court. Mooriield
storey. of Boston. chief of counsel for
the New Haven, aSsentcd TO the motion.
judge Mayer affixed his signature, and
the New Haven litigation. which had
threatened 20 cucumber court dOcketS
for years was al an end.
The ending of the civil proceedings
leaves the government free 10 proceed
with the criminal action ~ mas begun
against former directors Of the New
Haven under the Sherman act. The case
row before the grand jury Will be
rushed TO determination, and those in
charge express confidence that indict-
ments will be found. The New Haven
under its present management will IN
10 way assist in the defence OF any Of
those who may be indicted On the con
trary, il stands pledged to assist the
government in any way 1t can.
The decree as entered follows closely
the lines laid down in the announced
agreement between the company and
the Department of Justice, and differs
from the DEGREES in the Standard Oil
and American Tobacco cases in that
he decree is final, the Oil and Tobacco
DEGREES so reading that the government
might at any time cause the cases TO
be reopened. Further relief 10 the gov
eminent is i'm this case specifically
barred. Like most legal documents. IT
is verbose IN the extreme, covering
twenty-eight printed pages, enough to
make two solid pages of The Tribune.
Briefly stated. the New Haven, by us
terms, gives the Boston Maine and
its trolley lines TO three groups OF
trustees to manage and sell
with Mr. Gregory in court was
Frank NJ. Schwacker. his special assist
ant. who has had charge of the New
Haven civil suit. Charles W. Anderson,
Public Service Commissioner of Massa-
chusetts, soon to he United states At
torney for that district. was also IN
court to represent the interests OF ms
commonwealth. but took no part IN the
proceedings. the decree as prepared
being satisfactory TO his state.
Upon action by his state. however,
depends the method for carrying out
the main feature Of the order-the ais
position Of the stock of the Boston
Maine owned by the New Haven
through the Boston Holding Company.
a. Al. 1foocach n cpffc claims the
right TO exercise a perpetual option TO
purchase at any time. The decree pro-
vides for adjudication IN court OF any
differences that may arise in tins con
peetion. so that in the last analysis the
| nited States courts will say whether
or not Massachusetts, can insist upon
this option being stamped on the New
Haven's Boston & Maine certificates.
The trustees named have until Janu-
arv !. 1917. to dispose of the Boston x
Maine stock. though the court may
after July /, 1915. on Application o. any
marty. order a sale on such terms as III
may deem best
The trustees Of the Connecticut and
Rhode Island companies have until
July /. 1919. 10 dispose OF the proper
ties intrusted 10 them. they as must
the trustees for the Boston Name
having all income above expenses 70
the New Haven. As the prospect OF the
Boston & Maine trustees receiving any
income from the stock is dim, II IS pro-
vided that the New Haven may pay the
trustees $4,000 a year for expenses.
The Berkshire trolleys may also De
trusted. though no trust is ordered
The property represented, however,
must be di sposed Of under the terms OF
the order by July /. 1919.
So far as the Sound steamship INES
are concerned. the company IS enJolned
from materially changing the makeup
of the subsidiaries or the service pend
inc the determination Of the Interstate
Commerce Commission as TO the pubic
necessity of the New Haven continuing
TO operate these lines. THIS decision is
expected before December !.
The New Haven interests m the Fast
ern Steamship Corporation, operating
steamers east Of Boston, and amount
INC 10 a par value of S4,500,OOO, are or
dered sold. This transfer mas peer
practically conclude
So far as the Boston q Albany d
concerned, the New Haven rs perpetu
ally enioined from renewing the tram
agreement it formerly had. and 1t
also enjoined from again acquiring con
troll Of the Merchants and Miners
Steamship Company which 1t recentl'
sold