The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-03-22
FINAL AGREEMENT
IN NEW HAVEN CASE
Arrangements Indicated by At
torney-G General Accepted
by Railroad.
DISSOLUTION PROVIDED FOR
Requirements Indicated Will Be
Put Into Effect With
out Delay.

Washington. March c1.--After sew
cral weeks OF negotiations the Depart
ment of Justice and the New York,
New Haven and Hartford Railroad to-
night announced that they had reached
- complete agreement for Il dissolution
OF the New Haven.
The announcement was made in the
following terms:
THE Attorney General has inaicat ed
to representatives Of the New York,
New Haven and Hartford Railroad the
ARRANGEMENTS which he thinks would
result in bringing the affairs Of that
company into harmony with law. The
! representatives Of the railroad are
willing TO accept the requirements in
dictated. and to cndcavor TO put them
into effect without delay. If approved
by the stockholders in a meeting to
be called Immediately.
THE Indicated arrangement stated
in general terms follows:
"t) The Boston Railroad Holding
COMPANY. 4 Massachusetts corporation
holding majority of the stock on
the Boston and Maine Railroad and
40 per cent Of the former stock. in
turn. is owned nv the New Haven Rail
road The character of the holding
company prohibits it from disposinG
OF tn" Boston ANA Ma inc stock.
THE Legislature Of massachusetts
will be asked to remove this prohibit
ton. and if this is done. the stock OF
tho holding company Will be trans
ferrcd To iivc trustees, and. after mr.
lrangcments have been made to pro-
tect the minority stock Of the holding
company. they shall sell the Boston and
Maine stock prior To January /. 1917.
"1ol The stocks OF the companies
which control the Connecticut and
Rhode Island trolleys will be placed
in the hands or t.ustees-fivc for each
years from July |. 1914.
"(3) The majority stock OF the Mer-
chants and Miners Transportation
Company now held by the New Haven
Railroad will lie placed in the hands
Of three trustees and shall he sold with
in three years from July /. 1914
"(+l The minority stock in the East
crn Steamship Corporation held by the
New Haven Railroad shall be sold
within three years from July l. 1914.
and In the meantime shall be deprived
Of voting power
"t5) Whether the New Haven Rail-
road shall be permitted TO retain the
Sound lines will he submitted to the
Interstate Commerce Commission for
determination under the provisions
OF the Panama Canal act
''cl The Berkshire trolley shall be
SOLD within Ave years from July l.
1911.
80 4 decree emhodying the fore
going shall be entered In the United
states District Court for til. Southern
District OF New York. The decree
further shall provide that on applica-
Iion Of the New Haven Railroad for the
trustees and for good cause shown. the
time within which any or the above
mentioned stock shall be sold may be
extended by the court
Trustees satisfactory to all parties
have been suggested Those proposed
IN connection with the Boston aud
Maine stock have signi1cd their will
ingneSs TO serve. Their names are:
Marcus L. Knowlton and James L..
p"h"rty. Sprinhcid. Mass James l..
Richards ana Charles +. Hall, Bosom.
and Frank Il Carpenter. Manchester.
~ H. Names OF the others will not b.
mado public until acceptance by them
Is fully assured
The essential reason for placing tho
property i'll iii" hands of trustees Is 10
secui" th"i' immediate independents
mana cement.
''rhc outlines % the proposed decree
and trust agreements have ben die
cn5scd and are understood Their
Ncrbiage remains to be worried out. but
no difficulty Is anticipated in that 70.
spcct.
ms statemeiN has the APPROX II OF
ooth the Attorney General and the rep
rcSchtaiiv,s of the railroad"
His Second Victory.
Io-niEhts agreement marks tho
second victory that Attorney General
MckcFnolds has won in his ef-
lorl To have big business" adjust it
sen I" the sherman antitrust act. The
GomPicNitics In untanSling the New
raven "ers said To he vastly greater
IMAM In any previous negotiations
'Ihc announcement shows that with
IN Ire last few hours the New Haven
was granted certain concessions for.
when III made II strenuous nght The
length OF the trustceship for the RIOS
TON ana Maine stock owned by the
New Haven was held 10 be one such
concession, the decision to leave the
disposition of the so-calied Sound lines
CONTINUED ON Fourth Page.)