New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-09
WILSON APPROVES
M'REYNOLDS'S PLAN
Hopes Dissolution Suit
Won't Be Necessary, but
New Haven Must Act.


Washington, July While Presi-
rot be necessary for the Attorney Cen
eral TO file civil suit TO force the
disintergration OF the New Haven sys-
tenn, il is understood tonight that he
feels the New Haven officials should
have accepted the effort of the Msssa-
chusetts Legislature. and that he fully
approves the deterTl nation of Mr.. Nc
Reynolds 70 proceed with the dissolu
ton suit. Strong efforts will be exert
ca TO induce the New Haven TO accept
the Legislatures plan for the divorce
of the two roads.
Attorney General McReynolds let it
be known tonight that he would insist
on the New Haven officials carrying
out the plan announced in January, fol
. lowing numerous conferences between
representatives Of the government and
the railroad, as ne believed that the
bill passed by the Massachusetts Leg
islature providing for the sale Of the
Boston & Maine stock held by the New
Haven was fair TO the latter company.
He made il clear that he believed the
New Haven should not bubble over the
legislation.
While Mr.. McReynolds has not aban-
doned hope OF an amicable settlement
il is certain that he vii, make good
mis- threat 10 institute proceedings II
the New Haven does not indicate by
July 10 its intention TO dispose of its
Boston Maine stock in the manner
authorized by the Massachusetts Leg
islature and carry out the other part
Of the agreement
Both Governor Walsh. of Massachu-
Cd
nClds discussed the situation with the
President this afternoon. Governor
Walsh was with the President for a
half hour and Mr.. McReynolds followed
him.
81 simply gave the President nara
tive of what the Massachusetts, Legis-
laturo has done" said the Governor.
at is my opinion that Massachusetts,
has done everything possible toward
bringing about an amicable settlement
of the case. and now Il is up to the
New Haven officials to accept the plan
offered by the Legislature for the New
Haven 10 dispose of the Boston g.
Maine stock it holds.
keeping Tabs on Stock.
1--WE waived or surrendered two
rights we had that of reserving the
right TO purchase the Boston g. Maine
and the right to direct its sale. The
Legislature simply insisted that the
stock to be sold should he 80 stamped
that the commonwealth could keep
track Of 1t. That apparently is what is
Objectionable 70 the New Ravens eX
ecutive committee.
al do not think there is a chance
during the present administration for
further concessions, as the Legislature,
the Public Service Commission and
are unanimous in our opinion regard
ing the matter"
Attorney General McReynolds de-
clared that no decision had yet been
reached regarding the filing Of a suit
for the dissolution. He intimated that
the President and he had not given W
hone Of reaching an agreement with
the New Haven officials. despite the
threat made several weeks ago to in
stitute suit If an amlcable agreement
WAS not reached by July 10.
Within the next week the Attorney
General will confer with representa-
tives of the New Haven. and II is pos
sible that Howard Elliott, president OF
the system. will discuss the case with
the President. Until these conferences
arc held no action will be taken.
In some quarters tonight it was
suggested that the dissatisfaction %
the New Haven with the Massachu-
sctts plan was not evidenced until the
investigation of the financial deals of
the New Haven was begun by the In
tcrstate Commerce Commission. AT
that time there were many reports that
Mr.. McReynolds seriously contemplat-
ed criminal suits against New Haven
directors who helped TO build up the
alleged combination in restraint or
trade which the civil suit designed to
end
Why Indifference Grew.
According to the belief Of some Off
Gals, when there was no official denial
that the Department OF Justice might
geek indictments OF New Haven direc-
tors. the friendly attitude Of the road
toward the Massachusetts plan dissp-
peared and in its place grew n spiri.
Of Indifference. Officials were inclined
to believe that the railroad officials
had come 10 the conclusion that il
there were 20 be- criminal prosecutions