The Bridgeport evening farmer., 1914-05-26

believe, the date upon which Mdt Robins plans to have the directors o1 this company elected to take the place I of those serWing at present. l "Mr. Robins was to obtain the rec | ord books of the three companies and l in the meantime intends to make g study of the situation in order to re- port upon legal requirements, It may
 be on interest for you to know that MT. Robins leaves today for a trip west weeks.
 "Yours respectfully. "A S. MAY. Treasurer 1 e. Do you recall that letter? l A. have no doubt that I received such letter. do not question 1t. l e. What was this amount paid tc MT. s. +. Kelley that MT. Robins de- sired to be kept very confidential? A. It was a commission paid MT Kelley for carrying through, the trade @. How much was it ? A. do not recall: I know there was commission paid That was wfai was kept quiet and secret. O Do you not know? A. did know at the time. You dc lnot suppose I have a mental memo randum book that carries these things for ten years
 e. In order to refresh your mem ory. I will state that the books show that s 40 a share on 2, ,494 shares of the Montviile Street Railway, paid MT Kelley. amounted to $9e.e50, and al SEQ a share on 2,s44 shares of the Norwich Street Railway stock. paid Mir. Kelley, amounting to $44. .6S0, and he also paid MT. Kelley cash $56 0. Why was MT. Kelley paid so much? A DO you mean cash e.. Paid him altogether l 40, %. suppose the books show that f1,af AS 7aft of zr.f acted through the other officers of the company.
 O. DO you know what MT. Kelley was doing that he should receive so large an amountf
 A said he was connected with a bank king house in Boston suppose he undertook to collect that stock to- gether and that was his payment for services probably widely scattered stock and he gathered it up and made commission for his services Id got stiff one too
 e. Did you let your board of direc- tors know you were paying this amount to MT. Kelley
 A. do not know of any reason why should have occasion to conceal it. never did have occasion to con- ceal anything from them.
 O. This letter states if Is cophden- tial.
 
 cations that were not open to my board
 e. So your board was advised that $40 share was being paid in order to acquire this stock in the MontvI1le Street Railway?
 A cannot say just exactly what was stated to my board but know the full price of every purchase was laid before the board and all infor nation T had was open to them at all times. Who the raeTab bers of the board were at that time, and just how that mat ter was presented, could not say at this late date but have no doubt they knew all about 1t that knew. O. DO you remember the ConneCti- cut Railway 6 Lighting Go
 A most assured1y do
 Commissioner McChord. What was this property? 4 '
 The witness There were three sys- terms of railway mentioned the New London. the Montvil1e, and Norwich. They are three places closely connect ed on either side of the Thames river in Connecticut The control of the property was thought to be- very de- sirable because of this worcester & Connecticut Eastern, which testified about the other day. The properties were separated by a little interval ov- CT which there was no trolley line
 
 Eastern. The worcester & Connecti- cut Eastern ended. at it's southern end, at Central Village Conn. After the purchase Of this 2 line we electrified the railway line between Central Vi1-s lage to a point in Norwich and used it by a mixed service.
 c. What do you mean by a mixed seryice2
 A. A trolley service and steam railway intermixed The Worcester & Connecticut Eastern which begins at Worcester and ends at Central Village, by the control of the Norwich, Mont Vile & New London Street Railway. and the e1ectrif1cation of this new steam link, became a connecting street railway system between Worcester and New London.
 Commissioner McChord What was the capitalization of the street railway, do you recall :?
 The Witness. I do not know.
 @. For the Norwich Street Railway Go. they paid $356,s 40.
 < The Witness. I think what the Commissioners asked
 MT Folk Or s1OO share. For the New London Street Railway Go. there was paid $171. 78S, or $1Os a share. For the Montvil1e Street Rail $16O a share, and in addition $40 per share was paid to Kelley on the Mont vile Street Railway stock amounting to $ss,76o. SEQ per share on 2,ss4 shares of Norwich Street Railway stock was also paid to Kelley. am ounting to $57.6so.
 The Witness. Now to relieve the Cornnaissioner's mind of any anxiety as to whether that was good trade or not, will state that one of the last things did before retired from the New Haven Railroad was to lease that New London Montvflle & Norwich Street Railway, the Hartford & Con- necticut Eastern, which had never earned anything, with Tl.lis informed fate link of steam railroad which has been eIectrified-I IsSsed them to the Shore Line Electric Railway. which is owned by Morton Plant, for s9s years at a total cost, commissions and ev-