Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-05-20
MeIlen Reaches Hearing


cept straight into BILLIARDS. eyes.
Melen Reaches Hearing
A large crowd besieged the commit
tee hearing today, eager to get a
glimpse of Mr.. Mellen and hear the
continuance of his story. The clash
between Attorney General Mickey
nolds and the commission over the
taking of the Meilen testimony and
the seeming expectation that this
would be brought into the hearing,
heightened interest in the proceed
ings.
Mr. Mellen reached the hearing room
about 10 o'clock, accompanied by his
personal attorney, j. W. H. Grim. The
former New Haven president carried
q large box of private papers and
memoranda. He seemed composed for
the examination about to begin.
"I am ready to go forward" said he,
but there is nothing l can forecast
ahead of my testimony"
E. D. Robbins, general counsel of
the New Haven, came in shortly after
Mr.. Mellen arrived.
Called to Stand
Mr.. Mellen was called to the stand
about 1890 o'clock.
How long were you president of
the Northern Pacific Railroad" was
the first question put to Mr.. Mellen
by Mr.. Folk.
six years.
How did you become president ?"
Il was asked by j. p Morgan to
Mr.. Mellen then testified that Mr..
Morgan called him on the telephone
and that the conversation was about
as follows:
THAT You Mr.. Mellen?'
Yes
Can anybody hear?
mo
Twill you take the Northern Pa
cific presidencya
Yes
Leave all the details to me-
Yes"
Assumes Presidency
Two or three weeks later Mr.. Mel
len testified, he became president
while you were president of the
Northern Pacific, was the matter of
Mr.. Folk asked.
Yes. Mr.. Morgan told me he would
make me president of the New Ha-
ven"
las president of the New Haven,
what were your relations with Mr.
Morgan?"
THAT is difficult to answer"
Were you Morgan's man."
II have been called his office boy,
in the press Mr. Mellen laughingly
replied.
What would you say as to the re-
lations?"
Liked Morgan
Il was proud of his confidence and
proud to be called his man. | thought
a great deal of Mr.. Morgan"
Did you carry out his poiicies?"
Il do not know that he had any
particular policies
What was the relative Importance
of the directors as related to Nor
GAM"
Morgan Always Had Way
THAT is giving an opinion. We re-
garded Morgan as a man of ability.
experience and capacity. I recall no
case in which he did not have his
way"
How many directors shaped the
roads financial policy?'
There was a committee of three or
four, Morgan, Rockefeller, BROKER,
and, | think, at one time Ledyard,
Morgan and Rockefeller were the only
ones who remained on the committee
all the time L was president"
Boston G. Maine Bonds
Mr.. Folk presented a telegram from
Jacob H. Schiff to Mr.. Mellen saying
that Kuhn, Loeb & Co. of New York
would be glad to negotiate $4,000, 900
Of bonds to be issued by the Boston
q Maine.
Did you give Mr.. Schiff opportu-
nifty to bid on those bonds?''
Il think not
Why not"
i think it was considered that the
bonds were satisfactorily placed else
| where. OF course, | had no author
ity personally to place bonds. That
was within the power of the finance
committee"
What would have happened had you
turned over these bonds to Kuhn, Loeb
G. Cor"
Il should have felt that I properly
might have been dismissed" was Mr..
Mellens emphatic reply.
Concerning a later bond transaction,
| Mr.. Mellen said:
Kuhn, Loeb & Co. bought large
issue of our bonds-four per cent
on a five per cent. basis. don't know
! whether thew rpa5a ynorax, that