Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-03-11
ROADS OWN
continued from Pace One)

man and his attorney. Conray w.
CROKER. assorted that a plan was
under way with the endorsement of
Attorney General Daugherty to OBJ
tain . modification of the decree so
that the. New Haven might pra ctical-
~ regain control of the Boston &
Maine.
THE. railroad people have probably
told you that the resolve is useless"
SAID Mr.. Goldman. "The answer is to
pc found in the history of the last
20 years. In each Of these years
there has been a railroad committee.
Every year wrong advice has been
TED out from the railroads and the
committee has swallowed it. I don't
recall single year in which it has
not been said that the committee was
owned"
Senator Walter Hardy of Fitchburg.
chairman of the committee interrupt
ed Mr.. Goldman to remark that he
didn't like these expressions about the
committee.
| Il suppose if the railroadcommittee
In the past had done your bidding
everything would have been all
right" he said.
Mr.. Goldman continued: 81 cannot
go so far as to believe that the COM
mittees have been bought, but lack
or independence and initiative has
surely been theirs. The Interstate
Commerce Commission has denounc-
ed the railroad committees of this
General Court. There are persons in
authority in Washington who are as
tonished at the supineness of the New
England authorities in these railroad
matters. The key OF the supineness
is IN the railroad COMMITTEES. They
nave been weak with the railroads.
they have been afraid of the railroads
and they have done the railroads
bidding for 20 years"
Attorney Croker, who saidshe rep
resented between three and four
Thousand minority stockholders of
the Boston and Maine, asserted thai
there was a scheme on foot to re-
marry the New Haven with the Bos-
ton and Maine"
And l must submit" he declared
that the New Haven. as authority
for the statement of the roads cap
ital was impaired by at least $3.50,
100000.
IF the plan which I understand the
attorney general Of the United States
has in mind is carried out" said Mr..
Crooker, "there will be a violation OF
the solemn decree of the United
states court, which divorced these
railroads an dfound the New Haven
an unlawful combina ton in restraint
or trade under the Sherman Act. The
court decreed that the New Haven
should divest itself of every dollar OF
stock in the Boston and Maine and
pending the sale of the stock placed
1t in the hands of a board of federal
trustees appointed by the court. Now
it. is proposed to bring back the very
conditions that were a stencil in the
nostrils Of New England for decade
IF this stock is allowed to pass
into the hands Of the New Haven it
Will mean domination of New Eng
lands railroads by the same inter.
csts that control the Pennsylvania
and trunk line systems"
Attorney George L. Barnes, counsel
for the New Haven, denied that the
road was being managed by outside
interests and resented Mr.. Croker $
insinuation that the sale of the stock
would result in trunk line control
He asserted that the road was in
good condition financially and declar-
ed that more New Haven stock was
owned in Boston than in New York
1.-The road is worth $12O, 600, 900 more
than the valuation carried on its own
books. according to tentative val
uation made under the direction OF
the interstate commerce commission
The legal rights of the Boston and
Maine stockholders would not be
prejHdiced by the proposed sale. This
The legislature of this state has the
last say in this matter because il
passed the holding company act fol
the express purpose of preventins
any sale of the Boston and Maine
stock without the approval of the
legislature. But "a per cent. of the
stock would be affected and it is alb
surd to say that that represents con-
troll of any railroad"