The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1914-04-13

stead of making an amicable adjust |
ment in the matter of the disintegra- |
ton of the system. On this point the
statement says:
elf the tinancials plans of the com
pany had not failed. if general business
and the earnings of the company had
not shown such discouraging decreases.
and If there had been general friend
ly sentiment and feeling of confidence
throughout New England towards the
company, the directors might have been
justified in contesting the govern
ment S right to insist upon the disso-
luton demanded.
Under the conditions, however. con
fronting the. company the directors
felt that lawsuit, with attacks which
would, without doubt, have followed
from other sources, would have result
ed in receivership of the propertv.
| The directors have felt that it was
! their duty to the stockholders and TO
! the people of New England to do
everything within reason to avoid this,
| believing that the results of re-
! ceivership, with its complications. en-.
! ENGAGEMENTS. and delays would be dis
astrous, not onl y to the properties of
| the company, but to the commercial
England.
Adjustment in Interest of Stockholders.
1t is believed that the information
contained herein as to the unfavorable
business conditions, and the serious and
difficult character of the compauv :
financial necessities, viii aid the stock.
holders in understanding why the di
rectors feel that it is to the interest
of the stockholders and to the people
of New England to make this adjust
; ment with the government
, The business of New England can
not prosper unless the railroads can b,
supported SO as to furnish the facili
ties needed, and the railroads canno
do this unless the business of New
England is in healthy condition; tn,
l two must Of necessity act and react OF
To-Day, no improvements are beinj
{ made except those absolutely neces
r sary for safety, and work already au
thorized is stopped or postponed wher
I ever possible. Service is being eur
+ tailed as much as possible and ever,
S economy consistent with safety. rea
J. sOnable supervision and service is be
= ing pushed
Mr.. LlllOlI ana his directors stat
that the value of the properties unde
discussion (the subsidiaries which tn
% attorney general orders divorced fror
the parent company represent Il va
uation in round figures on the con
rs pany' books Of over $135,000. 0Ot
With regard to these properties. whic
the Interstate Commerce Commissio
i. declares are for the most part of sui
stantial value, the report says:
'The real question today is NJ
i whether it was wise or right to hay
acquired the various properties tnd,
discussion, but to have policy adop
ed now by the company, by the pc
pie whom the various properties serv
n by the officers and agents of the 90
eminent both state and national. al
e. by the press. that viii help to pr
,o vent conditions that might brir
~ about an industrial and financial q
~ sis-a policy that would at least gi'
al a chance to save a situation filled wi
nd perpleXities.
lc- - our directors, by unanimous vot
~ recommend that you approve the q
rangement with the attorney gener;
:" 1t should also permit the officers of t
company to devote their time and q
. 5 ergies to the management of the pro
le- erty, to overcoming the ill-efTects
no long continued criticism. and to briu
=. ing about a restoration of that con
'' dence which is so essential to ef1icient