The Connecticut labor news., 1923-01-26

As a consequence carefully by special delivery mail so 1t coulc statement was delivered and oper fused.
 In order that the workers ma to this matter, we publish herewit full:
 The present widespread and expensive publicity methods of the New Haven to mislead the public on the situation is being supplemented by the officials of the company, in which we have an example in the address of MT. E. c. Buckland, Vice President and General Counsel of the New Haven Railroad, as given before the Merchants Club of Boston on January 23d.
 Among the marked features and significant incidents in the loose, extra vagant, and improvident administration of the finances of the New Haven" says the Interstate Commerce Commission, are: ''The unwarranted expenditure of large amounts in educating public opinion Attempts to control utterances of the press by subsidizing reporters" Attempts to stem the tide of adverse popular opinion" Which all are a gross injustice to the stockholders and the public"
  papers, and most of us do, can not fail to have noticed the large number of inspired news articles and editorials appearing recently. so that the findings of the Interstate Commerce Commission have ample proof of their accurateness, but the printed word of the New Haven seems not to suffice for their plans and in an en1eaEor to gain further support for their himsy propaganda they make appeal to such organizations as the Mer- chants Club with statements that can H5t tiSn. stand the test of thorough invsstiga-
 They well ask the question. 'When did the trouble begin?" That's a short question, but requiring an answer much longer than space or time will permit, but briefly as possible we will endeavor to answer at least to the extent of proving a mis-statement in the ad- dress here under discussion. And for proof we present the following from the Interstate Commerce Commission as to the imitation of the capital ob- legations account of the New Haven system.
 "The subject matter of this inquiry relates to the financial operations of a railroad system which on June 30, 1903, had total capitalization of approximate 1y $93,000,000, of which $79,000,000 was stock, and $14,000,000 bonds In the 10 years from June 30, 1903, this capita1i- ~zation was increased from $93,0O0,0O0 to $417, ,OO0, 900, exclusive of stock premiums or an increase of $324,000,00O. The sum of $204 100000 was expended for opera tions outside of its railroad sphere. The financial operations necessary for thesa acquisitions and the losses which they have entailed have been skillfu1ly con- cealed by the juggling of money and securities from one subsidiary corpora tion to another The New Haven system has more than 300 subsidiary corpora tions in web of entangling alliances createds and manipulated by lawyers expressly retained for the purpose of concealment or deception.
 Here, gentlemen is the answer. this is the beginning of the troubles of the New Haven system, the astonishing in $324,OOO,OOO is in itself sufficient to keep it in trouble for a long time to come and when itlis remarked that an additional sum of $13,5OO,O00 was re- quested "to provide for. the company immediate program of improvements, and that the plan "was similar in char acter and method to the financing of the previous twenty years" does any sane person wonder at the refusal of the Su-
  oth 1914, to permit further shady l financial manipulations by the New Haven. The so-called hostility of the Wilson Administration and the Depart | ment of Justice was due entirely because l of the past record of the New Haven.l and their gross violations of the law of the Federal Government who even to 1 this day persume to hold themselve | aloof from the mandates of the law Of 1 state and, nation It will gbe noted that the admission is- made that the road could no longer earn the interest and dividend charges on this vast over capitalization and not until the roads coming under Federal Control and the obtaining of additional funds |, from the government was any real ef | fort made to secure sufficient cars, ar motive power and not even then until compelled by the Director General tC do so. Not through any desire on tF