New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-17
Wilson Tells Directors He
Wants Peace-They Stand
Pat, but Will Listen.
ROAD TO SUE BILLIARD
TO RECOVER MILLIONS
Neither He Nor Rockefeller Out
-Receivership Is Opposed
Board to Answer |. G. c.

The directors Of the New Haven yes
terday passed the problem settling the
dissolution without recourse TO the
courts or acceptance Of the terms of
the Commonwealth Of Massachusetts
for the sale of the Boston & Maine
up TO President Wilson for solution,
the President having intervened in an
effort to secure action by the board
that would render prosecution un-
necessary.
The President, il is stated unofficial
ly, appealed TO the board through one
of its members, said to be Dr. Arthur
Twning Hadley, president of Yale
University. TO accept the terms laid
down by Massachusetts and avoid en-
barrassing the administration by fore
ing Attorney General McReynolds to
bring suit under the Sherman act,
thereby further disturbing business
when the President is anxious TO re-
store confidence and normal conditions.
The boards answer to this was an
agreement to stand by its previous de-
cision not to accept the Massachusetts
act. but to do nothing that would in
terfere in any way with the substitu-
ton OF conditions that would be salts
factory
"ln regard to the legislation by
which the Commonwealth OF Masss-
chusetts requires that there shall be
stamped on each certificate clause
giving the Commonwealth the right to
purchase the Boston & Maine stock
owned by the company said the Off
cial report OF the meeting, "the direc-
tors have neither receded from their
position nor closed the door TO fur
ther negotiations"
Road Will Sue Billiard.
The board further decided to hgh'
any application that may be made Tor
q receiyership, and announced tha'
counsel had been engaged TO sue Johh
/ billiard for the s2,7OO,OOO profits the
Interstate Commerce Commission, IN
;.s renort. says accrued to him I'M
properly through the involved ""a"'
;rc bv which the New Haven secured
,ontrol Of the Boston & Name
pu,ard was not present at the meet
;ro nor did he send the resigha''o''
that had been requested "'l''""'
rockcfeller. who, despite his supposeu
;,frmities. escaped newspaper pho'
,ooraphers by running down a corr,
aor a q waiting elevator. authorl%eu
tho statement: 81 am not go'hs ~
xos;.r to-day." but did not deny tnaO
10 y,opld soon retire from the board
IT. aoc;s;on 90 sue Billiard, accord
;ro % the statement issued aiter yes
terdav's meeting, was reached on June
o. tbroe weeks before the report OF
tho Interstate Commerce Commission
that he be sued was
uade nublic. and was, therefore, ac-
cordinc 10 officials of the company, not
inspired by that document, which VIII
be answered by committee to be
named later.
The committee selected 10 supervise
this work consists of j. l.. Richards,
chairman: Edward Milligan and
Francis r. Maxwell, and under the
terms Of its appointment IS not re-
stricted to suit against Billiard or
the Billiard Co. all Of whose assets,
the Interstate Commerce Commission
insists. belong 20 the New Haven.
This committee reported to the
board that "steps for the recovery OF
such sums. if any, as may be due this
COMPANY" from the billiard Co., or in
dividuals connected herewith. are be
ing taken under the advice OF counsel.
Who the counsel is James II. Hustls,
who presided at the directors meeting
in the absence Of Howard Elliott, who
is in Maine on a vacation, declined TO
saw. other than that the lawyers re-
tanned we're not in the employ Of the
company at the time Of the Billiard
deals. Scheduled to meet at l:3O, the
directors began TO gather not long
after noon. and promptly at | o'clock,
when all the directors except Billiard,
Continued on page .. column