The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-04-13
Head of Directors Believes
Brighter Era Is
Ahead.
URGES HIGHER RATES
Government Raises Expenses
but WithhOlds Means of d.
Meeting Them.
mo REASON FOR HYSTERIA,
Asks New England's Friends to
Cooperate for Systems
Upbuilding.

Upbuilding.
Chairman Howard Elliott, in an un.
usual statement to stockholders, Just is
sued. Intimately analyzing the condition
Of the New Haven railroad. sounds a note
OF hopefulness for its future, despite the
tremendous difficulties that obstruct re-
covery.
The purpose OF the statement. the only
thing OF Its kind in recent railroad history.
Is to put the stockholders In full possess
sion OF the facts for their vote at the
special meeting April 81 OH acceptance or
rejection Of the agreement with the Gov
eminent for dissolution.
''The New Haven road IS a great prop
erty. with many elements OF strength"
asserts Mr.. Elliott In his summary Of
grounds for encouragement 1T serves
an active, prosperous people and many in
dustries. and in times of fair business
throughout the United States has great
earning power. With a resumption of
business. with confidence restored. with
help from State and Federal authorities,
the results should be much better
The most startling and significant state
men. 'n "'s feNiew Is 'hat the company
Wou'u nave oeen wrecked with receiver
nnp' u mao no' oeeh ape 10 settle It's
o'ssoiut'on pan WITH the Government
without lawsuit. Chairman Elliott
makes 1t very clear that with a receiver
snip aveited through a peacedble settle
ineh' the road mas turned the corner Of It's
despair ana VII! recover most certainly.
SVEN ir,sndiy treatment at the hands OF
'he puoic ana Inc Government and with
--..er rates ana return Of general
business ACTIVITY through the country.
sun "as A'oi"e"'
Suggestions heard by Chairman Elliott
from tae press. limited number OF stock
holders and commercial ORGANIZATIONS that
the company would have gained by stand
ns suit rather tnan accepting an amicable
adjustment brings from him the follow.
Ing reply:
If the financial plans OF the com
pany had no. .au.I. Il general bushes,
and the earnings of the company hal
lot shown sucn discouraging decreases
and IL there had been a general friendly
sentiment and feeling of confidence
throughout New England toward the COM
pany the directors might have been justi-
hed in contesting the Governments right
% ins' 81 upon tie dissolution demand, d.
Under the conditions, however, con-
fronting the company the directors felt
that a lawsuit, with attacks which would
,ou,css yyould bnv,. r,.s,,i,,d 4, a rec .i,,ar.
ship OF the property. The directors have
ieIt that 1t was their duty to the stock
holders ana TO the people OF New Eng
!ahd TO do everything within reason TO
AVOID this believing that the results OF
reeelrershlp. with Its compncat ons, en-
judgements and delays. would be disas-
Nous' not only TO the properties OF tn
company, but 10 the CONNIE cial. industrial.
ana hnahcial welfare OF New England.
The business OF New England cannot
prosper unless the railroads can De sup
ported 50 as TO furnish the faci TIES
needed ana the railroads cannot DO TINS
uh!ess the business OF Ne" EhgIaho Is
m healthy CONDITION; the TWO must OF
necessity act ana react on each othet.
!o-day no improvements are peihs
made except those absolutely necessary
10Y SAFETY, ana WORK ALREADY authorize"
IS STOPPED or postponed wherever pos
SloIe' service is being curtailed as much
~ possible and every economy consistent
win satety, reasonable supervision ana
service Is peinR pushed
IN round hsures the properties under
discussion represent upon the company
LOOKS more than Sl3o.ooo.ooo OF value
Inc report ~ the Interstate commerce
commission OF June 20. 1918. said, IN re-
gard TO the outside properties OF the New
haven:
~" occasio" 'or "Sster'a'
"'They are for the most part of sub
stantial value and in many instances are
4 kind OF property the value of which
should improye The financial condition
Of the comnanv calls for careful cons,d.
GRAFTON and nrudent action hut gives no
Occasion for hvs,eria'
Your directors therefore hone that
with reasonabIe time the assets of tho
comnanv c,n IA. nres.rvoa the earning
Dover res,orsd n. nbvs,caI cond,tion i'm.
proved and ~ oon,n.n,, ro,aa Nh, 4,
sho,Id ~ go, "a vs.f,,i servant NJ
she neo,S, - W, Tna,and =, ,ha sams
inns na,,,,n ra,',rn 20 i,s our.rs
.'rbs 'tae o,,as,,a, 49, " ,s ~, wh.,hsr
q vay ~. sa 49,. -. 80 - no,,trod ,hs
various Ie", ~ u" ,ia,ds,.. b.,
M 49, a,,' oa.. So ~" ,ha
cn,,,ao,, p"Ny auopuu - ~
rr"n",,ty W the peopie m.o',n .ne 49,,
=, ~ - sc Wy 'ne OK an" ae
tiorai J' 81. - ",tLent ootn o.a.u IT. 90
-. -, INV us we press ma. VII "''e ~
1911 t"i'','t'oi,s tnHt Hsni or"s apou.
tta .''uus. ,di anu r''ahclaI cr's - po''.s
ssruauoh u lea win perpieN'ties,
d