Norwich bulletin., 1914-05-13

WdsningIOn, May Manifestations loomed large tonight that Charles s. Mellen, former president, and Lewis Cass Iedyard, William Rockefeller. George F. Baker and George MacCul- loch Miller. directors of the New York, New Haven and Hartford railroad would not be called upon to testify in the inquiry being conducted by the Interstate Commerce commission in to the financial operations of the New Haven and the Billiard company
 Attorney General McReynolds, while declining during the day to make any statement concerning his attitude to- wards the examination of these wit nesses by the commission. frankly in formed Joseph w. Folk chief coun- sei for the commission, that he dis approved of at this time. It is known too. that members of the com mission doubt the advisability of put ting these witnesses on the stand. lest the evidence they give should render them immune from any prosecution thta might be considered necessary
 The attorney general had a brief conference with President Wilson to- night on the New Haven situation. Later he was asked the direct ques- tion whether he thought tn xanlina- ton whether he thought the exanlina- ven directors would give them im- munity from prosecution.
 T think it would" he replied
 The adjustment of the affairs of the New Haven and Boston and Maine, upon which the department of justice has been working for several months, involving the separation of the two systems, is purely a civil proceeding It has no relation with the financial affairs of the New Haven which the commission no whas under investiga- ton. of MT. Mellen and the New Ha- planned that it would have no effect upon the question of whether there there shall be prosecution in the crim- inal courts.
 It was the intention of Chief Coun- sel Folk. when the hearing was Ad- journed today, to call Mir. Mellen prob ably tomorrow morning. Four of the New Haven directors were subpoenaed for tomorrow and Lewis Cass Led yard is in the city. MT. MeIlen has been here since Sunday waiting to be called to the witness stand
 MT. Ledyard attended today's ses- sion of the inquiry and. late in the afternoon, participated in lively yer bal tilt with William B. Lawrence of Boston, one of the witnesses who rep resents the largest individual holdings of Boston and Maine stock MT. Lawrence said that his family's hold ings of Boston and Maine stock had depreciated nearly s1, ,50oso0o since the absorption of the Boston and Maine by the New Haven.
 Mfr. Ledyard challenged the ac- curacy of that part of MT. Lavrence's evidence concerning plan of the late J. Pierpont Morgan to effect a gen. eral consolidation of railroads and ex- press companies. He was promised an opportunity to be heard later on that matter.
 Timothy E.. Byrnes, one time a vice president of the New Haven. concluded his testimony today. Fran cis H. McAdam. an examiner of the commission, testified as to the stock New Haven, not only in that road. but in other lines in which they wer in- terested-
 McAdam read list of the New Ha,- ven directors. giving the number of shares owned by each.
 The PennsyivaDla railroad he said owned, in the spring of 1918. about 35.o0o shares in the New Haven and the New York Central about 30 poo The Mutual Life Insurance company, the witness said, at the time mention ed owned s5.oeo shares In the New Haven
 Following Mir. McAdam. William B. Lawrence took the stand
 Before the absorption by the New Haven of tho Boston and Maine did not your family have large holdings in the Boston and Maine railroad r' LCc, TUT aDOdh IWCnIt ycAIS father and his brother and sister own ed stock"
 How much altogether- "Oh. it varied . little from time to time. I should say the amount was between fs.oso and 14.ooo shares just before the acquisition of the Boston and Maine by the New Ha- ven. MT. Lawrence replied: Tn 1906 year before the absoFp- ton. we bought some common stock at 16S. The commonwealth of Mass aehusetts had AxeA that price. the law at that lime being that subscriptions for stocks in railroads must be at the price fixed by the state" Have you estimated how much your family has lost as result e4 the absorption
 Boston and Maine wss successfully competing with the New Haven and vas carrying two million more tons of freight a year. He said the cap- ftaiization was sSs.o00.oeo of com mon stock and Ss,e0aeoo of prefer rod.
 ~Did you personally know of the neeetiations for the purchase of the steek?"
 "onIy what came up at the meet ing of the directors
 Mfr. Ladyard. who was present this afternoon. waiting to testify. arose and declared that some of the state menfs made by Mir Lawrence were incorrect and he wanted to answer them. He was teId he could do so a little later.
 What has been the effect en the Boston and Maine of the New Haven eentroly, the witness was asked The increase in freight in the five years following the absorption was only 432. .0ee tons. while the New Ha- yen's tonnage increased eight times that amount"
 Has the Boston and Maine proper ty kept upr'
 .In come ways. not in others. The roadbeds, I think. are not go well kept up. Y Mr. Laurence Iofd of going to Mon- 1Eeal aps pExlas that the GEazf 4r1lz