New Britain Herald Newspaper, July 9, 1914, Page 4

NEW BRITAIN DAILY “ERALD, THURSDAY, JULY 9, 1914 | NEW HAVEN DIRECTORS FIRM IN FACE OF SUIT Bea Refiss 10 Al e ment Corcarning B. & M. Road. New York, July 9.—Although men- aced “with the institution of a gov- ernment anti-trust suit for the dis- solution of the New Haven railroad syStem, the directors of that road in a statement to the stockholders passed unanimously yesterday de- clared that the New Haven cannot carry out its March agreement with the department- of justice providing for the appointment of liquidators for the “Boston and Maine because of the . conditions attaching to the sale passed by the Massachusetts legisla- ture on Tuesday. The resolution adopted follows: !{To reafirm the conclusions set forth by the board of directors in its. statement of June 25 regarding Massachusetts legislation then pend- ing and now adopted. “"Po. express our regret to the at- tornev-general of the United States that the conditions on which the Massachusetts legislature is willing to ‘permit thé company to carry out its agreement - with. the department of Justice are so different from anything which was. contemplated at the time of the original agreement that the board has not the right to accept them; and that they involve such se- vere :and apparently unnecessary loss that . it- ought not to recommend or expeet their acceptance by the stock- holders themselves.” A copy of the foregoing resolutions ‘waa -forwarded ' to Attorney-General McReynolds. ¥ Statement of June 25. The statement issued by the direc- tors on June 25 was as follows: “Shortly -after the change in the imanagement of the New York, New 'Haven and Hartford Ralilroad com- ny, which was effected on Septem- 'ber 2, 1913, Mr. Elllott learned that he attorney-general of the United States felt it his duty to bring suit |against the company under the Sher- n law for the purpose of ending [the combination of railroads, steam- lahip. lines and trolley lines which, in IRis judgment, created a restraint of de in New England. ' ' *The management of the New Ha- jwen company, while not agreeing with neral in his construc- , was anxious not to en- go in, a confilct with the United [States, and’ therefore sought to reach jan agreement with the attorney-gen- ral which would avoid it. After Iprotracted negotiation, in. which the overnor .of .Massachusetts and Mr. derson, a member of the Massa- OW A MAN'S LIVER “= " DEFENDS WIS LIFE The liver is usually s quiet, unassum- organ and we do not think much jabout it. I has, however, protective {functions that should command respect. In the process of intestinal indigestion e are set free what physicians and ntiste call ‘‘toxic es,”” in other jwords poisons. If these poisonsenterin- 86 the circulation of the blood biliousness Jor sick headache results. Regularly the liver is able to destro; ese toxic bodies but if it lags in ita worl quickly form in amounts excessive to be troublesome. Headache, pnstipation, dizziness, furred tongue, d on the stomach, bad complexion fhe means by which nature gives g that the liver needs help. e remedy is to stimulate the liver by n:; othinklefar the genfl%ul'.uufi\ln at do not gripe or purge but simply nature. }f:‘nh laxatives and salts ften do harm b{ aggravating the condi- ons they are taken to correct. Pinklets, en regularly for a time, really do cor- i oo dradsist cansupply you with ‘our own dru; cansupply you morthey‘glvfll .:e,;fl. by mail, , by the Dr. Williams Medicine N. Y., at 25 cents per Send for helpful pamphlet. B Drugs Excite Your Kidneys, Use Salts Hurts or Bladder i Your Back ‘- “*Bothers, Drink Lots of Water. chusetts public service commission, participated freely and were con- sulted at every stage in relation to Boston and Maine matters, an agree- ment was reached in March which wag approved by the representatives of Massachusetts just named. This agreement was submitted to the stockholders of the New Haven com- pany and by them approved at a special meeting called to consider the subject. The various steps iy the progress of the negotiations were made public from time to time, ‘so that everyone concerned might have ample opportunity to consider the problem in all its aspects. Required Liquidators. “The arrangement thus approved required the appointment of liquida- tors charged with the duty of sell- ing the Boston and Maine stock held for the benefit of the New Haven company by the Boston Railroad Holding company, and shortly aftor the approval of the stockholders had been given Mr, Elliott, addressed =n ‘letter to the governor of Massachu- setts, asking him to request of the legislature the passage of a law giving the consent of the commonwealth to this sale of the Boston and Maine stock, such legislation being neces- sary as the. Maine stock was held by the Boston Railroad Holding com- pany without such consent. “During the negotiations. every- thing suggested as necessary to pro- tect the public interest was accepted by the representatives of the New Haven company. It is now proposud that Massachusetts attach to its con- sent the condition never before sug- geated that there be stamped on each certificate a provision that the shares represented by it shall always remain subject to be taken by the state at a price to be fixed by agreement or by court. This provision makes the shares unsalable in the opinion of the company’s directors and of every competent authority on such ques- tions whom the management has been able to consult, and so far as these shares are concerned, places the cempany in a worse position .than if it were compelled to sell them by a decree of the federal court after the-| decision of all questions against the company, for the shares would then be sold free from any such condi- tlon. Unless the stock can be sold at a fair price. within the limited time allowed by the agreement with the United States, the shareholders of the New Haven will sustain a great loss and this provision prevents such a sale and defeats the purpose of the United States unless it is accom- plished at a serious loss to the com- pany, Can’t Accept Conditions, “As trustees for the company, for its owners and its creditors the di- rectors cannot accept the proposed conditions. While the bill appears to authorize them to sell the Boston and Matne stock, it does not do so in fact. Much as they may regret the necesai- ty of recourse to the courts, they are left no option in this matter if the bill passes in its present form.” The directors, also/ unanimously de- cided. today to issue the following statement to the stockholders of the company: . “The directors of the New York, New Haven and Hartford Rallroad company have learned with regret that the act of the legislature of Mas- sachusetts giving the consent of the commonwealth to the sale of the Bos- ton and Maine railroad shares held by the Boston Holding company for the benefit of the New Haven com- pany has been accompanied by the condition that there be stamped .on each certificate now or hereafter o be issued for any of these shares that they remain always in the hands of any holder subject to be taken by the commonwealth, at a price to be fixed by agreement, or failing that, by ¥o- ceedings in court. Tried to Avold Contest. “During all the negotiations which have been had since the attorney-gen- eral of the United States indicated his purpose to bring suit against the New Haven company for violation of the Sherman act, the directora, though not accepting the attorney- general’s views of the law, have been earnestly endeavoring to avoid a con- test with the United States, and; in pursuance of this purpose, have yielded to demands which they be- lieved. unreasonable. Their repre- sentatives conferred constantly wi‘h the governor of Massachusetts and with Mr. Anderson, his adviser, and acceded to all that either suggested as proper to safeguard the interests of Massachusetts. They have persevered in their efforts to meet the requirs- ments of the public authorities in the face of severe criticism from those whose interests they were trying to protect, but at all times they have recognized their duty as trustees for | the shareholders, and the whole ne- When your kidneys hurt and your k feels sore, don’t get scared and oceed to load your stomach with a of drugs that excite the kidneys nd irritate the entire urinary tract. ep. your kidneys clean like you keep “bowels clean, by flushing them th, a mild, harmless salts which re- the body’s urinous waste and ates them to their normal ac- ity. The function of the kidneys to filter the blood. In 24 hours w strain from it 500 grains of acid ha waste, so we can Teadily under- ? _vital importance of keep- the kidneys active. 'Drink lots of water—you can't rink too much; also get from any macist about four ounces of Jad its; take a tablespoonful in a glass 3 r before breakfast each morn- Tor a few days and your kidneys 41i act fine, This famous =alts is ade from the acld of grapes and on juice, combined with lithia, @ has been used for generations to and stimulate clogged kidneys; »#6 neutralize the acids in urine it 0 longer. is a source of irrita- n ending bladder weakness. ad Salts:is inexpensive; cannot in- rer makes a delightful effervescent th drink whiech everyone jould take now and them to keep eir kidneys clean and active. Try s, also keep up the water drink- g, and fio ‘doubt you will wonder pecame of your kidney trouble gotiation has proceeded upon the de- clared basis that the property of ths HOW “TIT” HELFS SORE, TIRED FEET Good-bye sore feet, burning feet, swol- len feet, sweaty feet, smelling feet, tired feet. Good-bye corns, callouses, bunions and raw spots. No more shoe tight- ness, no more limping with pain or drawing up your face in y. “TIZ”is magical, acts right off. “TIZ” draws out all the poisonous exuda- tions which puff up the feet. Use "AE” hlml for- r foot misery. ! how com- f:’rfi{?: your feet feel. Get a 25 cent box of “TIZ” now at any druggist or department llf:;e‘-l‘)’on:dmg;:‘ Have foet, gl t never :’:ll, never hurt, never get tired. A yoar's foot comfort gusranteed or refunded. 1- MISSISSIPPI RIVE] 2 Sehitsor TflgMASR S:Senstor THEODORE PHOTOS © ‘Washington, July 9.—One tterest fights ever waged against “pork bar'l” legislation is being fought in the senate now by a hand- ful of senators against the rivers and harbors appropriation bill. That bill or. its face carried $43,330,000, the largest cash appropriation ever car- ried in a measure of this kind. It also authorizes specifically later ap- rropriations of $10,352,600. But one of the sharpest criticisms is that aside from these direct appropriations and authorizations the bill under what Senator Burton of Ohio calls its of the New Haven company must be con- served, and not sacrificed, and that the dissolution of the system should not be forced in such a manner as to injure the company unduly. “All parties, including the governor and Mr. Anderson, approved the agreement which was finally made and it was ratified by the stockhold- ers of the New Haven company. The directors have been at all times and still are anxious to carry out this agreement. Directors Adopted Statement. “When it was proposed that the Massachusetts legislature should in- troduce a new term into the agree- ment by attaching to its contract the condition which is found in the law just passed, the directors of the New Haven company on June 25 by un- animous vote adopted a statement in which they declared that they could not consent to the transfer of their stock in the Boston Holding company to the liquidators agreed upon with the governor and attorney-general of the United States, if the sale of the Boston and Maine shares were made subject to such a condition, for the reason that it makes the shares un- saleable and places the company in a worse position than if it were com- pelled to sell them by a decree of the federal court after the decision of all questions against the company. The directors felt that they had no right to let this valuable asset, pur- chased at great cost with the full con- sent of Massachusetts be sacrificed and that in their agreement with the Unijted States they had reached the limit of possible concession. “It is said that the company has already consented to &' provision in the acts creating the Holding com- pany which forbade the sale of the Boston and Maine shares without the permission of the commonwealth, and that it should not now object to the continuance of the control thus given. The answer is that the company gave its consent in return for an agreement by the commonwealth that it might acquire and hold these shares and through such holding make the Boston and Maine railroad a part of the New Haven system. It was then the expectation on both sides that the union of the two systems would be permanent and in that belief the agreement with the commonwealth was made. The United States now insists that this contract of merger was illegal and that the New Haven company must sell all its interests in the Boston and Malne railroad in order that the union between the two systems shall be absolutely dissolved. The commonwealth cannot, therefore, carry out the contract on its part and it should not insist that it remains binding on the New Haven company. It is not just to retain the price when it cannot give that for which the price was paid. No New Power. “It is said that the provisions give the commonwealth no new power since the shares can always be taken by eminent domain. If this is true the condition is unnecessary, But it is at least very doubtful if the com- ““Pork Bar’l” Appr‘opri_ation for River and Harbor Improvements Biiterly Fought BOATS - S+ MARTIN E: BURTON 1914 BY. Ami AISVOCJA‘CA“ PRESS “dribbling system” really implies the ultimate expenditure of untold millions on projects of little if any value to navigation. One of the most striking illustrations of the extravagances of the measure is the item for the carry- ing on of the improvement work on the Mississippi river between the mouths of the Missourl and Ohio rivers. That work was begun in 1881 with an estimated total cost of $16,- 000,000. Already $17,000,000 has heen expended on the project, and the estimate carried in this year’s bill for completing the work vet to be done is $17,250,000. The significance of these figures is increased by the fact that the relative importance of the river as a carrying road has steadily dwindled. This particular stretch of river at issue in this item is 206 miles long, with an annual freight tonnage of 250,000, The appropriation for this work this year is $1,000,000, or $4 a ton. When the work ‘is com- pleted, even if it does not exceed pres- ent estimattes, it will have cost ap- rroximately $150 a-ton on the basis of the present tonnage up and down that part of the river. Senator Mar- tin of Virginia is chairman of the ap- prepriations committee. monwealth has this right. It can take for public use any property within its .torders and perhaps the interest of any “citizen of Massachusetts in property | wherever situated, but a certificate jof shares in the Boston and Maine | railroad represents property situated in other states, in which that corpora- tion is incorporated as well as in Massachusetts, and it is by no means clear that such shares belonging to citizens of other states can be taken by i Massachusetts. New Hampshire and i Maine would have the same right and all could not exercise it. The pro- vision under discussion, if the New | Haven company accepts it by acting | under it, may be held to establish a right by contract to take the shares, and the directors do not feel justified iin making the company a party to any {such contract, which would at once i place its shares at a disadvantage in i the market in comparison with the ; shares held by the public, “The directors recognize fully that the legislature of Massachusetts must { protect the interest of its citizens in every way that seems to it wise, but on the other hand the djrectors are | bound to conserve the interests of the stockholders whose trustees they are, and in no spirit of antagonism but with the most sincere reluctance they have unanimously reached the conclu- sion that in attaching this condition | to its consent the legislature has made it impossible for the New Haven company to carry out its agreemeht with the federal government, since it prevents a sale of the Boston & Maine shares except at a ruinous sacrifice, and at the same time interposes the greatest difficulties in the way of financing properly the Boston & Mane company. Cannot Proceed. “For these reasons the directors, with entire respect, must adhere to the conclusion which they have al- ready declared, that they cannot pro- ceed under this act.” Copies of the foregoing statement were forwarded to Governor Walsh of Massachusetts, the Hon. Calvin Cool- idge, president of the senate; the Hon. Grafton Cushing, speaker of the lower house of the commonwealth of Massachusetts and the Hon. Frederick J. McLeod, chairman of the public service commission of Massachusetts. look cements. 4 Sacks of ALPHA" Make 14 Fence Posts Good seven-foot posts that will never decay and will not split, crack or break. - Concrete posts save room, ietter than wood, and add more than their cost to the value of your property. All you need is a supply of sand, gravel and ALPHA% CEMENT the kind that is always satisflctoz. around always ask for ALPH. ALPHA has greater binding-power than ordinary Portland Every ounce is pure, live and active, thoroughly burned, finely ground and properly aged. Use one sack of ALPHA, and you will keep on using it. We guarantee it to more than meet the U. S. Government standard for strength. Work done with ALPHA is everlasting. SVIIfl & UllSflll lllllll]fll’ 00., New Britain, Conn. CIGARETTES No Premiums with Camels YOU get more than your money’s worth when you buy Camels, 20 for fu:idum; ‘That's why you won’t find premiums or ¢ ‘The cost of the tobaccos pmz‘bib their use. Camels are so good in flavor, so smooth and even, that money can’t buy a more delightful cigarette. They can’t bite your -tongue or parch your throat and do not leave that cigarety taste. Ifyourdealercan’ts n'nl th mime andwewillrafandyourmoney. R. J. REYNOLDS TOBACCO CO. Winston-Salem, N. C. It is easy to make them. Our customers for miles because they know that The CURRAN CO. TOMORROW IS HOUSEKEEPERS DAY AT THE STORE AND WE OFFER THE HOUSEKEEP- ERS SOME BIG INDUCEMENTS IN TABLE LIN- ENS, TOWELS, BED SPREADS AND CURTAIN MATERIALS. SPECIALSFORFRIDAY ONLY Full Size Bed Spreads, worth $1.25. Special at Full Sized Bleached Bed Sheets, worth 59¢. Specialat .............. Bleached Pillow Cases, 45x36, good cotton Special at, each ...... 89¢ 35¢ 9¢ Extra Large Bleached Turkish Towels, 12% c worth 19¢c. Special .at ............. Bleached Table Damask, worth 29¢ yard. 2 1 c Special at ..........c00000000000000 Curtain Scrims, assorted patterns, worth 1 0 c 15¢ and 17c. Special at, yard ........ Good Sized Bed Spreads, new patterns, .. 59C worth 89c. Special at ........... All Linen Bleached Table Damask, beautiful pat- terns. Satin Damasks, worth 79¢ yard 50 c Special at ........... A lot of Window Shades, in green only, 25¢ 1 2 c value. Special at, each ....... ..... Large Sized Wool Nap BedB IBI;::(ets :: white and , the best $3.00 Blanl in the met. Extra Specialat ...... $l '98 Phis is an item worth your notice. Come and inspect these values. FREE DEMONSTRATION . (IN OUR HOUSEFURNISHING DEPT.) The Original $3.50 Vacuum Clothes Wash- er. To see one—is to want one. Here are a few rea- ons why you should have one. ist—Compressod air and suction do the work. No wash board s required, no bending ‘over the tub. 2u8—You can wash & tub of clothes in five minutes, Srd—You can rinse or blue a tub of clothes in sixty seconds. sth—There i no wear or tear on the. clothes Sth—Lace Curtains, Bed Comforts, Fancy Shirt Waists, Wool- en Blakets, Overalls and even Horse Blankets can be perfectly washed. 6th—The finest fabrics can be washed In the same tub with ordinary clothes with no possible injury. 7th—No boiling, no odors) Compressed air and suction is the latest known science for per- fect cleaning. That's why you should have a vacuum Clothes 59 ‘Washer. Not $3.50, but only . e {