New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-17

who is honeymoonlnS; FREDERICK ~
Brewster and d. Newton Barney, were
present. Mr.. Hustis raped for order.
Nearly three hours later DR.. Hadley S
leaving the meeting room was the SIG
nal that the formal meeting was over
He declined to answer any questions
as TO what had been done.
Soon aftorward T.. ". Miller, presI-
dent of the New York, Westchester q
Boston Co.. left the board room. ms
was the first and only notice the walt
ing reporters had that the Westminster
board had been in session.
Committee TO Answer Attack.
Il was nearly o'clock when TINS
formal statement was issued:
At the regular monthly meeting OF the
hoard held to-day a committee or thrt .
was authorized to be appointed 70 tdNe
into consideration the report oil the III
terstate Commerce Commission ana re-
port It's conclusions at a future fhcct'"e
OF the board .,.t,i.r,
the commonwealth Of Massachusetts re
ouires that there shall be stamped on
each certificate a ClduSc giving the con-
monwealth the right TO purchase tne
Boston n Maine stock owned by the
neither reccded from their position nor
closed the door to further negotiation.
Regarding the letter OF Messrs. Whip
plc. Sears a. ogden. OF Boston. con
corning proposed litigation against the
directors, the letter was referred TO
counsel.
Regarding the reported resignation OF
certain directors, il was announced that
no designations OF directors were pre-
scented.
Concerning the reports OF a federal re-
ownership, II was announced thdt the
directors will not apply for nor will they
consent TO a receiyorship. The company
is solvent. il is earning its fixed charges
and Is able to meet its current obHSd-
tons promptly.
Beyond the foregoing statement Mr..
Hustis, who was showered with ques-
tions by more than a score, declined TO
comment. II was pointed out to him
that some of the statements were am
biguous, particularly that paragraph
referring TO the status of the Boston q
Maine matter, but he insisted that the
statement would have to stand as
issued, so far as the company is con-
cerned.
Conferred with McReynolds.
From another source it was learned,
however. that Mr.. Hustis, with others
representing the company. had at the
request Of the administration con-
ferred with Attorney General Mickey
nolds in Washington on Wednesday,
and that while nothi:g had been ac-
complshed it was agreed to let mat
ters stand as they are until after yes
terday's meeting, leaving later confer.
ences TO try to work out scheme OF
dsposing of the Boston & Maine with
out a receivership. which will at once
be acceptable TO the board and TO the
Massachusetts, authorities.
This conference. il was stated was
the result of an intmation conveyed
direct to n member of the board by
the President, that he very much de-
sired to settle the matter without re-
course TO the courts. Report had 1t
that this intimation was in the form OF
n letter. but this could not be con-
firmed. In any event. the wishes of the
President were explained to the board.
Il was pointed out to the board that
the President had no desire to cause
any further loss to the unfortunate
stockholders OF the New Haven, or to
do ANYTHING to hamper the present
management, which he believes is do
ings its best for the stockholders and
the community the road serves, or FUR
Their to embarass business, especially
in New England, by the filing of suits
that could not fail TO give the impress
sion that the administration was still
on the track of big business"
The President, it was further stated,
was OF the opinion that Massachusetts,
was not asking too much and that the
proposed option. to which the directors
objected. did not constitute reason
able basis for objection.
Billiard and His Deals.
Until the New Haven began to ac-
ouire control Of the Boston g. Maine.
John l.. Billiard was unknown 10 fame
and only moderately well acquainted
with fortune. Inquiries covering
period of years developed that he was
a patriarchal coal dealer in Meriden
with a remarkable facility for saying
nothing. Where the millions that he
handled came from nobody could
seem to learn, but the supply OF
money at his command was appar-
emily unlimited. Even the unnitiated
believed that the source was the New
Haven treasury.
After he had testified before the
Interstate Commerce Commission,
that body decided that the surmise
was correct. In substance, he told
the commission that he had organized
a company at the suggestion of
Charles S. Mellen, that he had never
put up cent of his own money, and
had Melted S2,748.700 on his transac-
tons. which involved the handling of
thousands of shares of New Haven
stock and the borrowing OF millions.
incidentally, when he was not busy
with his coal business or borrowing
money he was "bulling" New Haven
on the New York Stock Exchange.
His associates in the Billiard com
pany were dummies" he testified.
Nothing in his examination showed
that any part OF his profits went TO
others connected with the New Haven.
On the Stock Exchange yesterday
New Haven, after opening at OBS,
made new low record OF 1873. but
advanced on short covering. closing at
52ii, gain of 81 share on the day.
fBy Telegraph to The Tribune
Meriden. Conn. July l6. John L.
Billiard. questioned tonight about his
present and prospective relations with
the New Haven road. refused 10 dis
cuss to-day's meeting Of directors or
any topics connected Herewith.
you must excuse me. ! don't wish
TO comment on that for publication"
was his answer TO all questions.
Mr.. Billiard said he had not heard of
the intention OF the directors TO sue
everybody where an action TO recover
might lie. but he asked no questions.
Some Of the matters put up to Mr.
Billiard were il he intended TO resign
az rond director. If he had prepared
his resignation, what he thought of the