The Bridgeport evening farmer., 1914-05-14
E. HI. DILLON & CO.

A(e, A1o A< AA<4 quisition of the New York. westohes- ter and Boston, MT. Mel1en said:
 'sAs recall the details, eight thous- and Shares Of the New Haven were put in my hands in escrow to be ex- changed for 1000 shares of the Vest chester stok. The Westchester peo- pie wanted to make the exchange at Fopce but o1r people were not willing to go ahead with the transaction un- til the matters in connection with the there were 1S different things in re- gard to getting the charter that we wanted settled.''
 MT. Folk then asked if the value at that time of the 5000 shares Of the New Haven was not $1,000, coo. T think it was, 2 replied MT. Melien.
 With whom did you deal in regard to the exchanges of stock to be made ?s,
 Former Police Inspector Thomas Byrnes.''
 MT. Me1Ien was then shown mem orandum of due bills against him and was asked to tell what they were. He said that when in New York, various people holding Westchester stock would come to him to get the New Haven stock or redemption value in exchange He did not always have cash or New Haven stock with him ana could not aIWayS Wf1te a cn0Ck- In eases when these people were not willing to wait he gave due bills
 Witness then was handed the mem orandum and asked to read off the due bills which had not be redeem ed There were i've Of them, one Of them representing e3 shares of New Haven and the others each 100.
 Where are these due bills, who hes them 2,
 God only knows They have been, outstanding now five years and my only hope is that will not have to pay them a1I''
 Didn't Know Claimants.
 When people presented these for redemption, did you know who they were or did you ask their names ?''
 No, I did not know who they were. recall paying one for BIO, ,45a-
 ssDid you know who he was.''
 No. but Judging. from the shape of his nose. should say he came from the East Sfde.'' Mr. Byrnes arranging all this? Well. had an idea that the West chester shares were scattered around in the hands of some people of inhu- ence.''
 Mir. Mellen was asked who had the power to grant the franchise of the Westchester road. He said he thought this was in the hands of the board of estimate and apportionment of New York city and had a hunch'' that he was in touch with and could reach people of inf1uences in regard to having the changes made in the proposed charter
 1T wanted to reach the people that it was necessary to reach,.' said Mir. MeHen. wanted to reach. the devil Or anybody else who could amend the charters'
 A es1z,z as +4,a 5.te ,,f +y,a L.s ginning of negotiations MT. MelIen said he was not sure but thought about June, 1908.
 The arrangements for exchange of securities was not made in writing.
 'I wis willing for the New Haven to sign an agreement, but the other party was not.'' said the witness. Why not?
 tI do mot believe he was congeni- tally and constitutionalIy fixed so that he could sign anything.'
 Where did these 5000 shares re- main during the transaction ?''
 They remained in the treasury of the New Haven until they were turn ed over to me from time to time to effect the changes. 7
 Names of Clerks Used.
 Asked as to the names that ap- peared on the Westchester shares as holders of the stock MT. NEelfen said:
 The shares apparently were made out to the names of clerks and I later found out that the people and those who had endorsed the stock in blank did not own them
 MT MeIlen thought a large amount of stock was issued to people who did not own it.
 sI asked Mr. Merton. chen presi- dent of the Westchester, and he said there was nothing to show who owned the etockn
 MT. Meilen. further said he believed an attempt was made to, conceal the owners of the stock
 "It is my suspicion he added. .sthe shares were issued to contractors who. then placed them where they would do the most good"
 .tWhat did you regard as the value of the stock at that timer"
 'sWeI1, have said before end now say it that it may go on the record that thought the stock was worth about ten cents a po1lnd.''
 MelIen Raises Laugh.
 s.How many Of those due bills did you give?'' ts.Ie have redeemed about $150,o00 worth in cash and there are now out standing the equivalent of about 350,- GOO They have been outstanding five years and I hope they will remain so for another year when, under the sta,t,1te of limitation, they will be worthless
 ..How many people did you redeem due bills for?''
 About 15 or 20"
 He added they usually came to him and said they preferred cash.
 {. Small or large bills?. would ask them'' the witness continued. oh, small, they would generally say.''
 laugh went around the room-
 When were most of these. due bills presented that you redeem ?'' z4t s"The bulk of. them were presented, think, after I resigned as president 3f the New Haven.''
 ssHave you the cancelled due bills? ?'' asked MT: Folk.
 q have not, replied MT MeIlen. T nave made it a practice for 3, good