Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-05-21

corporation. -,
iii l was not president" said he, Il
knew who was
You had a good grip on the SITUATION,
suggested MIR. Folk.
well. If IT was not personal grip,
responded Mr. Mellen. lit nevertheless
was q good grip"
My interest in the Massachusetts troll
ley was personal C. S. Mellen acquired
them In his own capacity. 1 bought them
myself and paid for them myself with
my own money. l would have lost money
if the stock had gone down. They went
up and I made money. I'm glad OF II.
I made a total of So. 500. but that profit
was reduced, because l paid 10 per cent
in dividends to other shareholders dur
ing about two years when no DIVIDENDS
were paid by the companies. That re-
duced my profit to about $1.oOo.
Sold New Haven Stock.
Questioned by Mr. Folk as to his pres
emit business relations Mr.. Mellen said:
II have not dollars interest today in
the New Haven. / disposed of all my
stock. 1 retain little interest yet in
the Boston and Maine and in the Ontario
and Western
Why did you personally favor the con-
solidation of the trolieys with the New
Haven
Because consolidation would result In
better service, lower rates and greater
satisfaction 10 the pubI1c. peleVe tne
public is better served by a monopoly
oi transportation than IN any other way.
thlnh, however, lhat the iAohopoiy
should be controlled and regulated oy
the government
What do you think railroads generally
are doing about this matter
l uoh KNOW any thiiis d ,a!foau San
do now except to take Off Its hat to some
government official
Mr. Melien said he was opposed to the
New Haven holding and operating steam
SLIP lines.
always was against the plan- l was
afraid of disasters on those finder boxes .
.4
Roosevelt opposed DeaA.
NJ ,,o,,o, af.ar .,s.;,v;ns -.,ardine
MI. NeiieI, al.er TESTIFY ing fesaioine
an offer OF SI",oooo" maze by Sharies
~. Morse for the purchase of steamships
owned by the New Haven, said he came
% wosbfneton and consulted President
~
Roosevelt III regard 10 .he ihat'
Mr. Morse" he said, had acquired
practical control of nearly all the steamer
lines of the Atlantic coast He wanted
our holdings. and l finally got dennite
offer of S2O.OoO,0o0 from him. | wanted
to sell. but I was great adhllrer OF
ter of that kind that was so full of in
go ,ba prasidant Of the United States
/ saw him and he was anxious. apparent
ly. that Morse should be checked In his
acquisition OF control OF steamer iiiee'
He urged me no. ~ .,.t nc IL was
..ad tha hin being prepared bv Her
bert Knox Smith. commissioner CT
corporations, would contain clause
preventing RAILROADS. lron wv .ne
steamships, 1t would De TO our ao. an
taSe 10 dceept TUG ~. -
MIN Ieit II -aS W. 10
ought TO turn ooMn me @ op rons,St,,
when. by II, we could turn our properly
INTO casn c
% pro,,t1, md Knann we're nres-
. ho,,;rw hsen called in nv Mr.
$3.50,
M pn,s.va,, told me Il can only
nromise Won MIR Mellen. for myself.
that IN Won do nor sell YOUR lines I will
rro,,is. vo,, so Far as I am concerned.
While the law remains as it is. you
shall experience no trouble from me in
YOUR ownership of what you now
ha ..w,. ,s tho hill, mt in by Attorney
Genera! BonapaIle
tini.n ~ ~ ,,-o,,,.,,,, ,,-even+ing +ha
r.,,rnads from owning steamers left out -
says PRESIDENT Kept faatn
heCAuS6 1SOOSe-
x.It Kent faith with u.s."
NJ Fo,k road a letter from Mr.. Meuen
c..,.,.on 1sv,or in which he ex-
,,n;.. +,,., - u-.s unui.e to
- a.t,r,, ~ tho Iov Steamship
eaNe up oil op'''A
Ae- s,,
II you t trs S,rac.ors Of the New Eng
"as II ma .ne Conona,v later annroyed
land Navigation Company ia'ei appio'eu
the purchase: ,... la ma
CIRCUMSTANCES Una, aioso iN'ei Aoo e
TO change my views
steamship line by the Ne" haven MI.
Mellen said:
"I didn't think il necessary to enlighten
the general public regarding the purchase
of the ,Joy line It was supposed by the
neonie of Providence. particularly, to be
an indenendent line
aAnd ynu Aid mot care to disillusion
,han,o. suggested MI Folk.
ST .oi, +houeht u we'll To LET the
merely ,housn' II en ~ .Ne
ina''ef TEST "iei
Good Reason for Secrecy
what were the reasons for main
.,;,;n. socrecyor .sked Mr. Folk. con
'"e ,.s,.,a,, 80 w. M.i,.
cerhlls 'he aeaNisti
steamship company
Il suppose" responded MIR. Mellen.
'it was due To a desire to keep the mat
80 ,t.+n rha a-i,ness himself smiled
.s;..,
oroaoiy Win tue @uo1'
:" nat olo Mchay nave 10 oo Win .he
York csty-.
.'I do not know do not recall II !