Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1917-03-30
NEW HAVEN ROAD
MAKES QUICK CHANGES
Pennsylvania Practically Operating
Trains at Present Time.

The Pennsylvania is practically OPP
Grating the New Haven road today,
says the New Haven Tirnes-Leader.
In spite of denials of operating Of
ficials it is again stated that Pennsy1-
vania officials have inspected the New
Haven system and seen at first hand
how the New Haven is being operated.
Pennsylvania cooperation with the
New Haven is growing closer and
closer, and the New York Central in
f1uence grows gradually less. Control
of the Pennsylvania is through the
d d Ish and not through ansh the
want the stock control says a man
very close and others who are in Po-
sition to know say the Pennsy has not
increased its stoc kby open market
Following inspection of the New Ha-
ven the statement was made after the
party had returned to New York that:
THE Pennsylvania officials have
taken a close interest in New Haven
affairs, because of the eonpany's large
holdings OF New Haven stock, and
they were gratified at the evidences of
better management all along the line.
The new Heb Gate route should soon
become more than disappearing, and
1t will play an important part in les
SEEMING future freight congestion
around the city"
ance to stockholders followed the ar
rangement to finance the roads obi
cations due in May. A director said:
For the first time since the cy-
clone struck us / can say with assur-
ance now that we have weathered the
storm"
As to the coming of new financing,
the proposed new issue of $40, 000, 00e
of one-year 5 per cent notes has been
sold to a group composed of j. p.
Morgan & Co., the First National bank,
the National City bank, Kidder, Pea
body & Co.. and Lee, Higginson & Co,
rrrr-m L. = - I'LL 49,,
II the proper legislative authority can
be secured in Connecticut and Massa-
chusetts it is expected that before
the maturity of the new issue on May
1, 1918, the company will be in po-
sition to undertake a comprehensive
financing plan Involving the refunding
of it's short-term issues with long-term
bonds.
The sale of the notes has been made
subject to the approval of the public
utilities commission of Connecticut.
The proceeds will retire $43s .0oo of
4 liz per cent notes, involving an in
crease of one-ha1f per cent. per an
mum in the interest charge. OF the
maturing notes, $25,000.ooe were is
sued by the New Haven and $20, 00e,-
900 by the New England Navigation
company. OF the latter $4,000 ,ooe has
been retired. The New Haven owns
all of the stoR of the Navigation Co.
AS to the Pennsylvania's hand in OPP
GRAFTON of the. New Haven, that is seen
in various ways When a storm broke
over the proposed Woodmont yards,
Pennsylvania officials were besought
to give expert opinion They were
amazed that such plan had been
suggested. They showed where the
yards should go. in order to give the
New Haven the maximum benefit. And
so, although 1T had spent $40. coo for
land and it's operating men put much
time into arguing with the public util-
tiles for the right to take more land
n
quickly gave up the Woodmont plan.
When the possibilities of the He'll
Gate route were considered. the Penn
sylvania looked to get some of the
cream of the summer traffic into New
England. It's officials convinced the
New Ravens that the Bar Harbor ex-
press should operate from the PENN
sylvania terminal rather than from
Grand Central so the Bar Hareor.
this next summer, will be on the time
tables as operating from Washington
to Bar Harbor, and the Pennsylvania
will advertise widely its own line to
the Fairgrounds of a Nation While
the Federal express starts next sun
day, the rest of the service over Hell
Gate route will be held up until the
summer schedule goes into effect just
before Decoration day. Trains VIII De
operated from Pennsylvania terminal
New York, to the White and Green
mountain resorts as we'll
Rumors. were strong recently that
the Pennsylvania would take the Cen
trail New England over. But there was
no need, for under the tutefage of its
new ally. the New Haven long ago
began to make changes on the C. n.
e. Land has been bought there for
new trackage, extra roundhouses have
been built, and new machine shops
put up. New routes of considersb bic
length are expected in Central New
England territory very soon And
Pong hkeepsie bridge is being .practi-
cally rebuilt.
"A1l the control the Pennsylvania
desires, it has already. There Is no
need for more We shall all profit
by it, So says a director
h..l - Shat S1r@a%h;ur Eiss