New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-10
NEW HAVEN in GOOD
SHAPE, SAYS ELLIOTT
Fully Prepared for Adverse De-
cisiOn on S67,700,000
Bond Issue.

Howard Elliott. chairman Of the board
of directors Of the New Haven Railroad
said last night, when his attention was
called TO the action of the Massachusetts
Supreme Court forbidding the s67 900
bond issue sought by his road
II desire TO say that the company has
not been unmindful OF the fact that the
decision of the Supreme Court might De
adverse and that 1t has been making
preparations for taking care of It's
finances in such event. Steps will be taken
promptly to perfect plans and 10 carry
them into effect.
LAS none OF the short term notes mature
before the middle OF May, there is aoun-
dant opportunity for the company 10 make
the necessary arrangements.
As soon as Mr. Elliott heard OF the de-
c!slon of the court he summoned to his
office A. s. May, treasurer or the COM
pany: II. NJ. Kochperger, vicc-president OF
the road in charge of its finances. ana
f. & auckland. it's general counsel Tie
conferred with them until late hour last
night Mr.. Elliott returned TO Washlhs-
ton on the midnight train.
There was no mistaking the feeling
around the New Haven offices that the
decision was surprise, but the opinion
was general that IL the chief objection 10
the bonds was their convertlbility, tms
could be remedied by the legal STAFF oil
the company.
IL was explained that the plan proposed
by the company had been made attrac-
tive to investors. Some other plan of
converting the bonds. it was suggested
probably would be worked out which
would meet the courts views on the sub
ject.
Mr. Elliott returned from Washington
Yesterday morning, where for the greater
part of the week he and some of the le-
gal representatives of the New Haven
were in daily conference with the Attor-
ney General and other representatives or
the Department of Justice relative to the
reorganization of the New Haven system.
After a conference with heads of depart
ments Mr.. Elliott had two-hour confer
ence with members of the executive COM
mittee of the road. at which, ii is under
stood, he went over in a general way his
/ talk with the Attorney General. Those
Z
president of Yale; ex-senator Murray
! Crane. of Massachusetts; G. f. BROKER,
/ r. De Witt Cuyler and William Skinner.
il was learned that at this conference
! Mr.. Elliott obtained the views Of the ex-
! ecutive committee on some of the propo-
| stions submitted 10 him by the Attorney
General. and that lie would transmit them
| to Mr.. McReynods when he returns 10
Washington to-day.
! The only information given out at the
! New Haven Offices was that the plans for
! the reorganization Of the system were
/ far from perfected and that 1t would be
some time before they would be in any
| kind of shape. as the result OF an agree
ment between the Attorney General and
| Mr.. Elliott. II was admitted. however.
| that the conferences of the chairman OF
| the directors yesterday were mainly alonS
those lines.
The directors Of the Westchester Street
Railway Company met yesterday, and
J elected Mr.. Elliott director and presi-
dent to succeed c. 5. Mellen. l.. S. Storrs.
! yice-president of the New Haven, was
elected yice-president. Br. Eliott's cleo
ton as president of this trolley company
| is regarded as indicating that the New
| Haven has no intention OF giving up its
| trolley holdings.
/ The New England Navigation Company
I board met and presented reports OF d.
rectors. The Westport Water Company
| board also elected Mr.. Elliott a director
ami president and l.. 5. Storrs vice-prcsi-
dent. The Vermont Company board elect
ed Mr. Elliott director and president. The
! latter company is leased by the Berkshire
company