Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1915-11-24
HUGE PROFITS
(Cc,t;nrea from Page Cne)

NOR. tran tie usual commission He
named his prices and they We're &C
cented.'
ives there any cal"uat;on as to how
much tni' was costing YOU: asked H.
l.. PattS. of government counsel.
The witmcss said that he discussed X
with tho executive committee and that
Il kick Geyeloped -thc comment was Sc
we're.
Did YOU make an, statement TO tire
COMMITTEES q. 80 legislative matters YOU
had in hand with Winsor.
"A never did I'm"
Legislative Cooperation
Fad you and Wihsor co-operated in
Legislative matters at that time"
Yes. conceded The -gitness.
Mellen said ne was advised Us the ex-
executive committee to take UP the fat
ter Of his disposition Of the stock with
the committee appointed by the New
Haven To Zeal with Boston & Maine mat
terA and that the committee advised him
TO soc If Billiard would buy it,"
Billsrds Purchase
Billiard bought it al the zane prices.
,,c witness testified without; any dis
cussiun as to whether prices were ex-
ccSs:Vc.
This. it was brought NJ; vas hardly q
month after ne had bought thc l0s. 90"
shares III S1oJ
There was no discussion Of the mar
kot prices" said MI Mcllen. Billiard
was told that he would keep it, or leave
it us he chose
And that was the substance Of the
conversation was asked
Yes. except that he said ne was ycr,.
;5.aG to buy it, Billiard was a very he
hcEoicht looking old gentleman; but as
sharp as razor and he knew what the
market price was"
was that a pa; of his hcn"yu.cpcee -.
Sa'd h" wa as sharp as a razor, "
retortcd the witness
Inc New Haven. however. il wac
elected from the witness. financed tho
purchase The New England NAVIGATION
60. deposited in two New York hawks
III which derry X. acHar. ana VII
nam SKINNER New Haven directors were
Interested H2.5o0,ooo from which Bal
iafd borrowed and gave his note for
'he rest Of the purchase price.
me inquiry OF the Massachusetts Ie~-
isiature as 80 whether the New II,-a,
had an interest in Boston & Maine s,o.,,
ana the New Havcn's reply ,lepvinp il
o"ted FEB. 10. 1909. We're then read IN in .
july. Meilen said that in written MON,
orahdun he had placed the facts Of tbe
hl'lard transactions before the board of
directors and Lewis Cass Ledyard and
Edward b. Robbins, defendants had co,
Elaborated in drafting the reulv
ledyard's Third Degree
Led%ard, he continued, pat PIE
through the third degree on the HiIlaro
co. felt that he didn't believe i'm The
condolences of the transactions. OK
planned it all and assured Ledyard that
1t was as ciean-cut, straightforward 3,
transaction as | had ever had ANYTHING
to do with
Inc government attorney said he had
never seen copy of Mellens typewr;tte,
report and would like to have it, This
counsel agreed to procure. Mellen said
he had also sent a copy of il to Richard
Olney. director of the Boston & Maine
who was to confer with Robbins upon
the New Haven's responsibility.
The document was to the effect that IN.
Boston e Maine stock had been sold to
Billiard without any understanding with
him direct or indirect as to its dispo.
ton" and that 100000 was in the treas
ury of the New England Navigation Co.
as the result of the sale. 1t added that
while Billiard was believed to be friendly
toward the New Haven, there was moth
ing understood which would limit the
legal right of the purchaser
The $1l000.CON, according to Mellen.s
testimony today, was obtained by Billiard
on the Boston & Maine stock itself
through a loan. which Mellen said he
arranged with the National City Bank
The reply also asserted that the New
Haven had disposed of all its trolley
properties in Massachusetts ITO ind,vfd-
Uais. The individuals according to Mel
lens testiracny today were New Haven
directors.