The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-06-07

nit to its stockholders some plan for
financing it's present floating debt II
for obtaining money for future needs
II business conditions Justify.
Now hat these bills have been
passed there is much work to he lone
in prepa ring any plan and in obtaining
the necessary approval of the public
service commissions of the States.
"In trying to harmonic the laws of
these States there have been some diff
ferences of opinion among interested
parties. In all the discussions there has
been an earnest desire on the part Of all
to arrive at n reasonable conclusion ire
not to postpone this constructive .egis-
latlon for another yea.
THE Public Service Commissioners,
the members OF the Legislature. the ex-
ecutive and the company have ALI Welded
something. with the result that the bills.
while not giving all that the various
parties wanted, are a long step forward
in putting the New Haven In a position
to reestablish its credit and to perform
its duty as a common carrier.
THE valuation bill calls for an In
"estigation. and the company Is anxious
TO rave that work proceed rapidly. 1t
hopes that the Public Service Commits
sion can complete their report In the
la:e autumn. and 1t will cooperate In
every way.
AS a result OF the recent investiga-
ton of the company's affairs by the In
terstate Commerce Commission, the
Congress of the United states and the
Department of Justice. there is a very
large amount OF material ready, which
Is at the disposal OF the commission.
The Compnny's Attitude.
The company is ready at u sine
TO submit all Information and fac,s In
its possession about the Commonwealth
Pier contract of July /. 1912. The rates
and charges OF business handled and
controlled by the New Haven company
conform to the terms Of that contract
and have since II was executed.
The year's work has resulted in a
better understanding of the difficulties
of the general situation on the part
of the stockholders and bondholders of
the company and the responsibility de-
volving upon them in the care of their
property.
The New Haven is owned very
largely I'm New England and. with a re-
sumption OF business, IA restoration OF
confidence and credit should receive
financial nourishment and support from
Its owners and from the public who
live along It's lines.
~ " ~ aN'' Aaatb wv
have given greater attention than evel
before to the question OF railroad trans
portation. and have Loyalty supported
the management In It's efforts TO Obtain
the remedial legislation. The great In.
terest and cordial support OF the press
Of New England were also most help
full elements In working out the prop.
lem.
In fact. IL the plans OF the compan,
had not been presented In considerable
detail to the public and to the bushes
men OF New England. and if those plans
had not appealed to their judgment. tn
bills probably never would have become
flaws.
THE legislative sessions have ende'
with improved and more cordial rela
lions between the company, the public
many business organizations and tn
:. Representatives OF the State govern
ments. which is a source of gratiilcotio'
to the company and n valuable asse
for the future.
"Fo the company ! desire to expires
it's thanks for the cooperation OF all. .
most important result is that the pass
ing of these laws marks the startin
out on q course OF constructive work /
helping to build up the New Have
road and the New England transporta
tion business, the success Of which is =
essential II New England is to 70 for
wrrd. as she win. in agriculture, manu-
featuring and commerce"