Norwich bulletin., 1914-05-08
Acquired Control by Aid Of MeIlen And Loan
 from New England Navigation Co.
LATER SOLD AT PERSONAL PROFIT OF s2, 2,74s, 700
Witness Memory Became Hszy When Closely Questioned by Counsel Folk for Interstate Commerce Commission Chase Changed Testimony Given Previous Day. but Re fused to Answer Questions Plea that He Was Acting in Confidential Capacity for Billiard Company

You were elected director of the New Haven in October, 1909, three days after that meeting and 8 few days after the Billiard company was formed ?'
 Yes
 Who paid the original capital of $50, 900 to the Billiard company
 Tt is hard for me to remember as to that"
 Did MT. Mellen7"
 ''No."
 Did your"
 T think so."
 MT. Billiard was shown checks made out to him by the New England Navi- gation company and was asked: "Dirn't you pay the capital stock, when it was increased to s2.o00,o00 out of that money?" Yes, sir" Did not the New Haven road have an option on these 10s.94s shares?"
 No"
 "The Boston and Maine paid divi- dends on it's stock while you held those shares. did you receive divi- dend ??''
 "I took the dividends"
 Mr. Folk showed the witness a check for $100,000 drawn on the Shawmut National bank, signed by H. S. Kochersperger, vice president of the New Haven road and fndorsed by Ma.
  for.
 T don't know" answered MT. Bill lard.
 Did you ever talk with MT. Mellen regarding your profit of $2, 100 in the Boston and Maine tranSaction?
 No, did not"
 Mr Billiard was asked if he had loaned the New Haven road S220,0 in January, 1912.
 He said he knew nothing about this.
 Ty1I IT,. a check for .$224,615, drawn by MT. Kochersperger in favor of MT. Billiard, which he indicated might have been the return of the loan in question plus interest, hut the witness did not recall just what 1t was for. .s
 MT, Billiard was then interrogated regarding the arrangement with Mir. Mellen by which the 1B,052 shares of New Haven stock were bought from the New England Navigation com pany, for the purpose of boosting the market, and then sold back to the Navigation company, as told yesterday by Samuel Hemingway, treasurer of the Billiard company
 Don't you think it was wrong to try to make people pay more for the to work it off on the public, didn't you 2" the witness was asked. well, you can call it the public, II you want to. Some stock had been worked OH on me-. Mir Billiard said his company acted as agent of the New Haven in this ; matter.
 Did it not generally act as agent of the New Haven?" NO, siri' responded MT. Billiard, emphaticaliy. Interrogated as to the purchase ot s400, 600 bonds of New England newspaper, MT Billiard evinced re- luctance to go into details, refusing to ! answer some of the questions. He said the bonds were for himself per 1! Sonally.
 What were you doing at the time i that made you want to influence pub- l lie opinion?"
 T bought the bonds. decline to say anything more" Ibid MT. Mellen have anything to do l with this purchaser T do not remember" l At this point J. H. W. Grim, attor- I ney for MT. Mellen, interrupted to state | that MT. Mellen had told Mir. Billiard | that he might make money by buying 1 the bonds.
 1 MT. Billiard next was asked if he i knew anything about a sealed envelope i said to contain notes, etc, to the ex- ! tent of $3I5 5000, turned over to the 1 Billiard company from the New Eng land Navigation company. MT. Bl1lare : said he did not. MT. Folk introduced i a record of meeting of the directors | of the Navigation company, held Dec 1 Il, 1909, in which reference was made [ to the envelope. MT. Folk said tht ! record showed MT. Billiard to have beer l present as one of the directors. 1 Coming to the winding up of the af' 1 fairs of the Billiard company, MT. Foll asked what were the assets of tho 1 company.
 We'll replied Mir. Billiard, "ther' was MT. Me1len's note for $Sfs,0OO told of in my statement this morn ing; the $400. 900 newspaper bonds holdings of stock in the Easter1 Steamship company for about s1,500. 600, and stock in the New England Power company for $5,000."
 Have you those assets?"
 'T decline to answer"
 MT. Billiard later said MT. Weller owed the note to him personally ant that the newspaper and steamship company stocks and bonds belonged
 to him.
 MT. Billiard said he had nothing t.
 do with the organization of the Metro
 politan Steamship company.