Evening star., 1914-05-03
FINANCING METHODS
OF BILLIARD COMPANY
One of the Subjects of Hearing in
New Haven Railroad
Case.

After a brief session of inquiry into the
financing of the Billiard Company and
the numerous financial operations OF the
metropolitan Steamship Company, the
interstate commerce commission yester-
day adjourned its investigation of the
New York. New Haven and Hartford
railroad until Wednesday. 1t is expect
ed that John L. Billiard one of the NOV
ing spirits of the concern. whose deal
ings with the New Haven have been the
subject of considerable questioning, will
take the stand next week
William Butler Tyler and Arthur G.
Gwynne of jerks Gwynne K Co. New
York brokers were questioned yesterday
as to transactions in the stock of the
Billiard Company. The congratulations
and financing of the various Metropolitan
Steamship Company concerns were the
subject on which Walter f. Reid of Wa
terford. Me-. was questioned at length.
Morgan Objected to Morse.
The three Mellen directors were to be
Charles A. Moore of Manning. Maxwell
& Moore. MIR. Mellen and "a Mr.. Brady.
Mr.. Reid testified. The Reid interests
were TO be looked after by Charles w.
Morse. John A. Mckinnon. Campbell Car
rinSton and Mr.. Reid. The arrangement
was to continue ten years. Later II was
testified, Melen objected to Morse being
elected as he was then in prison and
stated that j. Pierpont Morgan had de-
manded Morses elimination.
Reid then told of going to Augusta,
Me. where he sold the old Metropolitan
at a receivers sale. The Metropolitan
Steamship Lines of Maine was then or
ganized. This was commonly known as
Metropolitan Steamship Company No. =
Following the formation of this com
pany, Reid testified, Mr.. Mellen said his
own name must be withheld from the
directorate. Reid told of seeing Morse
in the Tombs in New York, and said
Morse objected to being eliminated. He
then called on Mellen again and the lat
ter, he stated. seemed to have lost IN
terest in the matter.
What became OF Me1roPoillan
Steamship Company No. 2?" Reid was
asked.
1T died 'a-bornin'.'"
Mr.. Reid said the company's successor
was the Metropolitan Steamship Com
pany of New Jersey. which. he aver
red, was formed by f. D. Robbins, vice
president and general counsel OF the
New Haven: John L. Billiard and sam
uel Hemingway. Grover c. Richards
of Portland Me. it was testified, was
dummy" treasurer and had signed
checks for s3.000,000 In the organiza-
tion transactions.
Repudiated by Mellen.
MIR. Mellen, however" said Mr.. Reid.
has always denied he had anything to
do with the purchase of the New Jer-
sey company"
Before Mr. Reid left the stand Mr..
Folk read letter from Mr.. Mellen to
the witness, written in Mellens own
hand. from Stockbridge. Mass, Novem-
ber 9, 1913 This was shortly after Mr..
Mellen resigned the presidency of the
New Haven. The opening paragraphs OF
the letter were as follows:
Yours of even date at hand. Am
pleased to note you liked the Post ar
ticle. 1t was very mild, not at all
sensational and left very much in re-
serve to be said later.
II am growing rather tired of being
Jumped on for other peoples misdo1nSs
and am going to call halt The Post
article is only very mild warning that
l am tired and the thing is getting on
my nerves, and what man In such
condition needs. you know, is quiet and
rest, and to pile it on thick is not the
kind OF treatment recommended by the
most approved practice.
At this point the hearing was adjourned
until next Wednesday,