Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1914-07-14
|. {. {. MAKES
REPORT On new
HAVEN inquiry
Scathing Is Denunciation of
Methods That Wrecked
the Road.
HOW TO RECOVER
S67,000,00O LOOT
Commission Points the Way for Stock
holders to Get Back Money Wasted,
aud Shows Up Invisible Govern ?"
ment OF New England.

Washington, July 13.-SeathinglY
denouncing .he financial methods
which brought the New Haven to lis
ruin. the Interstate commerce cani-
mission today, in the most sensation
al report yet made by that BODY,
filed it's findings in the New Haven
investigation with the senate.
This investigation said the re-
port, has demonstrated that the mo-
nopoly theory of these controlling
the New. Haven was unsound and
michievous in its efforts. To achieve
such a monopoly meant the reckless
aid scandalous expenditure of money;
it meant the attempt to control pub
lie opinion corruption of govern
ment; the attempt to prevent the
political and economic instincts of
the people in insolent defiance OF
law. Through exposure Of methods CT
this monopoly the Invisible govern
ment which has gone far in its Ell
forts to dominate New England has
been made visible
The report points the way to the
recovery of more than $67,000,000 OF
looted funds for the stockholders and
while no direct refence is made to
the attorney general, the RESPONSE
bility for criminal prosecutions as
well as civil proceedings to punish
the roads wreckers and to aid the
stock holders is placed squarely upon
the department of justice.
The commission vigorously de-
tends is action in placing Mellen on
the stand, declaring it thought better
to expose wrong-doing, even if in
doing SO, it might bring few witt
| nesses immunity, than to leave Facts
uncovered, thereby giving immunity
not only as to prosecution but to the
stigma of exposure as we'll.
This was the commissions answer
to Attorney General McReynold's
| protest against putting Mellen on the
stand.
| The report discloses for the first
time that J. P. Morgan, Jr., fell down
flatly on his offer to throw the
books of the Morgan firm open to
the interstate commerce commission,
and that after a vain attempt to get
satisfactory access to the Morgan
records. the commission secalled it's
examiners.
Look to McReynQlds.
Attorney-General McReynOlds was
absent from his office today and or
ficials at the department Of Justice
declined to comment on the report.
Unless the encouragement reverses
himself there will be no criminal
prosecution for the larcenies, en-
bezzlements and violations of the
Sherman antitrust law disclosed by
the commissions investigation.
Commissions Conclusion.
The commissions conclusion may
be summed up this way:
! Losses to New Haven stockholders
through acts of their directors will
range froW $60,000,800 NO 500, OOO, 900
Suita~to recover the money should lie
in some cases.,
Many transactions characterized as
violations of the laws of New York.
Rhode Island and Massachusetts and
the Federal antitrust laws have been
reported to the authorities of the
States and Federal department of
justice.
i Depreciation of the Boston and
Maine began when the "Mellen- Nor
gan Rockefeller" management came
into control.
John Il. billiard and the Billiard
company were merely agencies OF the
New Haven.
4 Billiard never used a dollar Of his
own money and buried his books and
papers, It was not the understand
ing of the New Haven board that he
should take profits of more than $780,.
100000.
"All the assets of the Billiard Com,
pany belong to New Haven st6cx|
holders. and suit by the railroad
against Billiard and those who parti.
cipated in the transactions should be
maintained" says the report.
| Dummy corporations and their use
which the report says in the New
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