New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-15
NEITHER WISHES TO
EMBAE2ASS ELLIOTT
Two designations Are Ex-
pected at To-morrow's
Meeting.
WHITMAN is WAITING
Wall Street Holds Commissions
Report Insufficient as
Prosecution Basis.

John L. Billiard, about whom centred
the financing of the New Haven, so
roundly criticised by the Interstate
Commerce Commission, is expected to
tender his resignation as a member of
the board of directors of the company
at the directors meeting tomorrow.
Similar action, according to reports
current in New Haven circles yester-
day, is under contemplation by Will
lam Rockefeller, who has been so Sc
verely criticised for his part in various
transactions in which the New Haven
sank large sums of money, notably
the Westchester deal.
Against both men the Interstate Com
merce Commission indicated its opinion
that suits should be brought. The retire
ment would be due to a desire TO re-
lieVe Chairman Elliott and their other
associates in the board from any possi-
BILE embarrassment. In Rockefeller's
case there is the additional reason of
poor health; for, all reports to the con-
trary Notwithstanding, his friends in
sist that he is anything but we'll
man, and should relieve himself Of
some of the burdens he is carrying,
suits or no suits.
Both men have contemplated resign
ing for some time past, but both men
have hesitated to do so lest it appear
that they were quitting under fire.
Now. with the question of prosecuting
them ciyilly and otherSise put up to
the board by the Interstate Commerce
Commission, there is some question as
to whether they can with propriety re-
tain their places.
A high official of the New Haven
said yesterday that he had heard ru-
mors of Billiards. resignation, but that
they had not as yet been confirmed.
Billiard Remains Silent.
At his home in Meriden last night
Mr.. Billiard refused to discuss the
matter with Tribune reporter.
81 have nothing to say he repeated
in answer TO several questions.
The report of the commission and
The possibility Of suits, criminal and
civil, as a result were the chief topics
of discussion in railroad and financial
circles yesterday, with opinion almost
unanimous that New Haven stookhold-
ers would not profit single dollar by
the efforts Of the commission, unless
more evidence on which to base suits
is forthcoming than is contained IN
the records of the investigation, and
unless some way is devised to get
around the statute of limitations,
which would be an effective bar 10 any
prosecution on many, If not most, of
the transactions the commission has
criticised.
The possibility Of prosecution and
suits for restitution is one of the
things the former directors of the
New Haven, as well as those who re-
main on the board from the Mellen
regime, have considered. Some Of
them, IL will be remembered, were rep
resented at the Washington inquiry
by William Nelson Cromwell, who,
however, did not indicate Just whom
he represented. He could not be seen
at his Offices yesterday.
OF counsel for those interested
Judge w. II. d. Grim. who is looking
out for the interests of Charles S.
Mellen, was the only lawyer accessible.
He defended his client in a brief inter-
view, saying that of all the transac-
tions taken up there was none that
could not be explained in twenty min
utes to the satisfaction of any open
minded person.
Calls II Brandeis Report.
"lt is a Brandeis report" he said.
"All that is necessary in any of the
instances cited is to bring out all the
facts in open court to satisfy anybody
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