Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1916-03-02
BILLIARD SUIT IS SETTLED
OUT OF COURT BY PAYMENT
$1,250,000 TO new HAVEN
Involved Charles S. Mellen, John L. Billiard, Ed
ward D. Robbins Samuel Hemingway
and Others

New York, March 1.-The suit
brought by the present administration
Of the New York, New Haven & Hart
ford Railroad to recover $2,700.0 900
from Charles S. Mellen, former presi-
dent Of the road: John L. Billiard Of
Meriden. Conn; Edward D. Robbins,
former general counsel; Samuel Hem
fngway Of New Haven, and others. al
legged to have been due the New Haven
in transactions with the Billiard Co,
has been settled out Of court. The New
Haven Co. announced here today that
the suit had been compromised by the
payment to the New Haven Of $780,
900 in cash.
The Transactions
Billiard, coal dealer, purchased
from the New Haven in 1908, during
the administration Of Charles S. Mel
len as president Of the road, 10000
shares of Boston e. Maine stock at
s125 and sold it back a year later at
$3.50. 1t was alleged that Billiard was
acting in the interests Of the New Ha-
ven and that the deal was a fictitious
transaction. The New Haven at that
sets laws to own the Boston & Maine,
and it was charged that Billiard as
sumed title to the stock to enable the
New Haven to inform the Massachu-
sets authorities that they did not own
control Of the Boston & Maine.
Later the New Haven was author
lied by an act of the Massachusetts
Legislature to acquire the Boston &
Maine and the holdings of Billiard were
sold back to the road.
Profit s2,75o,0oo
Billiards. ostensible profit in the deal
was about s2,750.000 but this was re-
duced by other transactions between
the New Haven and the John l.. Bill
lard Co., which was organized. Ac-
cording to testimony in the recent
criminal action brought by the gov
eminent under the Sherman antitrust
law against former directors Of the
New Haven, Billiard personally did not
get but $4,000.
During the trial of the case it waA
contended by the defendants that the
Billiard transaction was bona fide. II
was brought out by the government
that Billiard was, however. hnancea IN
the deal by the New Haven ard never
put I'd cent of his own money.
Samuel Hemingway. president OF TIE
Second National Bank of New Haven,
at one time an officer Of the Billiard
Co. was also a defendant. The suit
was originally for $2,100oOO, brought
, in Connecticut courts. The settlement
represents a compromise.
Review Of Activities
The Billiard Company was the vehicle
for a number of other New Haven imam
cial transactions down to the time when
Mellen resigned in 1913, and the new ad-
ministration came into power. Edward
S. Robbins, according to testimony in the
recent trial. engineered several Of these
transactions and was responsible, it was
testified, for the secret transfer of the
Billiard Company's books and assets to
Canada at the time the government was
seeking them. The Billiard Company, it
was alleged, was used as a vehicle for
the transactions whereby Robbins obtain
ed control of the properties OF the Metro
politan Steamship Co and made per-
sonal profit, it was alleged. of nearly
100000 Several million dollars worth of
securities of New Haven subsidiaries
were at one time in the possession OF the
Billiard Company.