New Britain herald., 1923-04-18
NEW ASSs,y0PS
 CLOSE $y!AL So Declares President .aa
 Annual Meeting MASS. DIRECTORS ARE NAMED
Waste In Purchasing Department Charged by Stockholdcr Who Says He Docs Not Expect To Live Until Dividends Arc Paid.

New Haven, April lS.--Stockhold- CTS of the N. r., N. H. and II. rail- road met here today in annual meet ing and accepted the annual state ment of the company for the year ending December 3l and elected a board of directors
 The list of directors presented in- cluded the present board of 10 and the names of Charles r. Choate, Jr, Southboro, Mass; Frederick Du- maine, Concord, Mass, and George Dwight Pratt, Springfield, Mass, add ed, these being the newly added directors as explained by President Pearson.
 shops Near Normal.
 The annual statement was made public few days ago. A summary of operations and conditions on the system in typewritten form was dis tributed to those who were present. About 50 persons aside from direct ors and officers were seated when President Pearson opened the meet ing. The president gave a brief re- view of conditions in 1922 saying it was year of ups and downs" both i'll operating and in financial returns. He mentioned the shopmen's strike and said that shops are now ap- preaching normal conditions. He also claimed that after government control of the road a great number of bad order freight cars were turned over creating an expense account to get this rolling stock into good con- dition. Mir. Pearson passed quickly and briefly from one condition to an- other which faced the company sue cessively, such as the coal shortage. weather and the deficiency in motive power. He believed the prospects are encouraging for 1923.
 More Mass. Men. ~
 President Pearson said that it was a recommendation to increase the | boar dof directors from 15 to IS by l adding three additional Massachu- setts men to the list.
 The annual statement of the com. pany was accepted and placed on file | on motion of Hagop Bogigian of Hcston. When the question of elect ing the directors was put, MT. Bo- gigian asked why the board was to be increased.
 Vice President l.. c. Buckland said that the intention was to give Massa- chusetts larger representation in + proportion to the amount Asf stock held "
 Stock Ballot Ordered
 Morris Speer of New Haven asked President Pearson how the directors were selected and why others who had arge stock holdings could not have of being nominated. He snew of a Mass. man who held stock md Mir. Spcer concluded his remarks oy nominating Mir. Boggian for di- ,ector in place of MT. Dumaine. Mir Bogigian said he had no interest in serving as a director while the poor tockholdcr" has so little opportunity o be heard. X stock ballot on the ist of directors was ordered.
 Wants Bond Issue A. Heaton Robertson moved adop {, ion of the item providing for a bond {. ssue of s5,000,000 to reimburse the company for cash expended for ad- f itions, extensions and other improve nents. Mir. BuckIand upon request !, xplained the reason for the bond is- ue. Mir Bogigian thought that some i nethod ought to be adopted by which f can obtain summary r f the annual reports written in un- < erstandablc form and also to present q 0 the public a comprehensive review f the company's operations. c
 Bogigian Claims Waste
 Mir. Bogigian said that he thought a nere was considerable waste in man. {, of the property and asked 5 it would not be better to moro close a 7 supervise the purchasing depart u rent He said that on the letter to s ockholders proposition the presi- ' ent had pleaded that it would cost g DO much. He thought that economy pplied elsewhere would offset the ,st of sending out letters and in rc-
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