New Britain Herald Newspaper, July 23, 1914, Page 9

} NEW BRITAIN DAILY HERALD. THURSDAY, JULY 23 . It Has Kept Its Pledge JNever Refused to Carry Out Dissolu- tion Agreement With Attorney General McReynolds. + New York, July 23.—The New Ha- ven railroad has answered President Wilson’s letter to Attorney General McReynolds, the attorney general's letter to the president and the gov- ernment’s decision to press the dis- solution suit by saying that the road was willing and wished to proceed With the sale of the Boston and Maine Property under the terms of the original agreement and charged that Mr. McReynolds had imposed differ- ent conditions which the directors could not agree to. President Hustis in a statement made public the position of the road in the negotiations with the govern- ment and made it clear that the di- rectors would not recede from their position even to avert the suit. He did, however, say that the directors “hope a way will be found after the suit is brought, through negotiations and action of the court, *‘to carry out the compromise agreement and thus achieve a result which all parties earnestly desire.” Mr. Hustis goes on to say that Mr. McReynolds in the original memoran- dum of settlement, agreed to on Jan- uary 10 last, recognized the obliga- tion of the New Haven directors to eonserve the value of the stockhold- ers’ property and concludes that this would not be done if the present con- ditions of sale were accepted. Mr. Hustis’ statement follows: “The directors of the New York, New Haven and Hartford Railroad company desire to make their posi- tion entirely clear. They have never refused, but on the contrary have al- ways been willing and anxious to carry out the agreement with the attorney general made on March 21, 1914, approved by the stockholders on April 21, and sanctioned by the governor of Massachusetts. “That agreement was framed to ac- complish two objects, first, the sale of certain properties owned by the company which the attorney general demanded, and second, the sale to “take place at such times and on such térms as would insure a return at a fair price. This last object,’in the judgment of the directors, will be defeated if the sale of the Boston and Maine stock is made subject to the condition imposed by the legislature of Massachusetts; and therefore they =have declined to accept it and have stated fully the reasons for their de- cision. s | Semow GURRAN GO. - The H.B. Claftin Co. STOCK Sale now going on and we are receiving new goods every day that have been de- Jayed in shipment. / Tomorrow 15 -SUIT DAY and if values will: bring a crowd, it ought to be a ban- ner day. v | $10.00 and $12.00 Women’s Tailored Suits $4.9 7 Tomorrow at = $15 to $25 Suits Tomorrow $8.97 “They have not refused to carry out any agreement which they have made, but they have refused to change that agreement, as the change would entail on the company a very large pecuniary loss and at the same time increase enormously the difficul- ty of reorganizing the Boston and Maine railroad. Offer to Carry Out Pact. “As evidence of the good faith of the directors a representative commit- tee consisting of President Hustis, Mr. Cuyler and Dr. Hadley, accompanied by Moorfield Storey, counsel in these proceedings, waited on the attorney general on July 20 and offered to car- ry through the settlement in all re- spects according to the agreement, and further in order to meet the dif- ficulty which had been created by the Massachusetts legislature the commit- tee offered to place the control of the Boston Holding company in the hands of the trustees who had been selected by the attorney general and the gov- ernor of Massachusetts, with full power to absolutely control the Bos- tor and Maine rallroad until either the Massachusetts legislature passed the necessary legislation or the rights of the parties interested were decided by the federal court in proceedings which the company offered to expe- lite in every way possible. “In making this offer the com- mittee did everything possible to avoid hostile proceedings without at the same time sacrificing the interests of their shareholders, and the direc- tors only regret that an offer which seems to them eminently fair should not have heen accepted. Yet they can- not but feel a strong hope that a way may be found to accomplish the dissolution which the attorney general desires and which the company is willing to accept on terms which do not inflict on the shareholders a se- rious loss. Notice to Shareholders. “The following authorized state- ment will be issued to the stockhold- ers: “‘In view of the many exaggerated and false statements which are cir- culated it is proper that your direc- tors should lay before you briefly the position of the company in its rela- tions with the government. “‘You authorized your directors to compromise the questions pending be- tween the United States and the com- pany upon the basis set forth in the statement by the attorney general on March 21 and submitted to you and approved by you ata special meeting of the stockholders held on April 21 last. “You have been advised through the statement adopted by the direc- tors on July 8 that the legislature of Massachusetts has attached a condi- ion to the sale of the Boston and Maine stock held for this company by the Boston Holding company to which the directors cannot assent, and in that statement the directors have given the reasons for their de- cision. ‘ ‘Since that time a committee of the directors has conferred with the attorney general and has explained to him that the company cannot modify the agreement made with him by making the sale of the Boston and Maine.shares subject to the terms im- posed by the legislature of Massachu- setts. The committee pointed out ‘ Cooiwin’s_S;lperior Cold Cream, 24c jar Excellent for Tan and Sun- burn. Takeajar to the shore or mountains. o .h I HARTFORD Must Be Sold. 10 Room Cottage. All Improvements. Large Lot and Barn. 55 Curtis Street. No Reasonable Offer Refused. A. G. Cohen, 223 Main St. New Haven Railroad Says |Ney Britannic, Sister Ship of Titanic, Ten Times Bigger Than Its Old Namesake , The new White Star liner Britannic, which was launched last February at Belfast, Ireland, is being fast put into shape for servic of the ill fated Titanic. latter ship sank in mid-ocean the keel of the Britannic had just been laid. The plans were immediately changed so that the new liner would be as nearly unsinkable as possible. She will have accommodation for 2,500 passengers and carry a crew of 950 hands all told. One of the most important innovations in the Britannic will be the newly patented boat lower- ing gear. On her bridge decks there She is a sister ship | When the | TANNIC ore six pairs of huge steel derricks tc lower the motor life boats and other life saving craft in time of danger. These derricks are to be]| driven by independent dynamos on the bridge deck and are capable of raising a lifeboat from the starboard side and swinging it clear over to the port side without any difficulty. This gear is the latest improvement and insures the launching of the boats even if the ship were listed heavil, The FEimpress of Ireland disaster in the St. Lawrence taught that lesson. The Britannic has re-enforced bulkheads, dividiig the ship into fifteen waler-I tight compartments, which are carried up to the bridge deck, nearly sixty feet above the water line. With a Gouble bottom and double sides the huilders contend that the flotation of the new liner is well protected. The first Britannic, which went out of commission in 1903, was less than cne-tenth the tonnage of her succes- sor, but she was a favorite vessel in the New York trade for nearly thirty yvears, during which time she carried over 400,000 persons across the At- lantic and traveled fully 2,000,000 mn:iles, The picture shows the com- parative size of the new and old ships. that the amount involved 1is very large, that in the judgment of the directors the condition would serious- ly depreciate the value of the stock aid that it practically prevents the sale of these shares except at a great sacrifice and hampers very seriously all efforts to reorganize the Boston and Maine railroad. Question of Obligation. ‘“The committee called attention also to the fact that the right which the legislature seeks to acquire by the recent act is very different from the power reserved in .the ‘acts incor- porating the Boston Holding company, since these gave Massachusetts the power not to buy the Boston and Maine shares, but only the shares, ‘‘bonds, notes and other evidences of indebtedness” issued by the .Boston Holding company, and this upon con- dition that it took them all and at the same time relieved the New Ha- ven company from all its obligations as guarantor of those securities, “‘The New Haven company has guaranteed the principal and divi- dends on 272,939 shares of preferred stock issued by the holding company, of which 28,000, worth at par $2 800,000, are outstanding in the hands of the public. These shares are all secured by a lien on the Boston and Maine shares and the proposed act gives the right to take this security without assuming the New Haven company’s liabilities as guarantor. ,*‘The committee assured the at- torney general of the company's de- sire to carry out the compromise agreement of March 21 in all respects, but that they could not consent to sacrifice so important and valuable an asset as the Boston and Maine stock, worth in their judgment far more than its present market value would indicate and sorely needed Lo help to pay the present debts of the company. ““They o suggested methods reaching the result which both parties | desire, and in so doing did all that was in their power to secure a set- tlement without violating an obliga- tion recognized by the attorney gen- eral himself in the original memo- randum of settlement agreed to on January 10, from which the following words are quoted: “*The department of justice recognizes the obligation in- cumbent on directors to conserve as far as circumstances permit the value of its stockholders’ property and to protect those stockholders from the conse- quences of past acts, and so far -as it properly may will endeavor to aid the directors in discharg- ing these obligations. “‘The attorney general has decid- ed that it is his duty to bring his suit for a dissolution of the system and there is now no existing agreement between him and the representatives of the company, but the directors hope that a way will be found after the suit is brought through negotia- tion and action of the court to carry out the compromise agreement and thus achieve a result which all parties earnestly desire.’ " No Word About Suit. No official word from Washington was received by United States District Attorney H. Snowden Marshall yes- terday concerning the suit in equity which President Wilson has directed | Attorney General McReynolds to bring against the New Haven rail- road to compel dissolution. Nor was there any word of the criminal side of the case which will probably be lald before the federal grand jury here. T. W. Gregory, the special counsel { Packing company, 'the fact that his concern was losing { money on importations of frozen beef i the housewife for our New Haven case, was still in Wash- ington last night, All day officials here had looked for his appearance, which would have been a signal for immediate action in both the equity suit and the criminal proceedings. The only part District Attorney Marshall will have with the action here will be to sign the necessary legal papers and to call the session of the federal grand jur: “On taking office, shall, “I informed Mr. McReynolds that I was counse]l for Alfred W. Smithers of the Grand Trunk when he, E. J. Chamberlain of the same road and C. S. Mellen of the New Haven were indicted for alleged vio- lations of the Sherman law. Having served as counsel for Mr. Smithers 1 cannot take a part in the contemplat- ed proceedings.” for the department of justice in thel said Mr. Mar- NO HOPE FOR CHEAP BEEF. Not Many Years. Chicago. July 23.—Joseph M. Cud- ahy, vice president of the Cudahy commenting upon At Least, For Great from Argentina and Australia, says: “We cannot account for it but the fact remains that the United States field has proven a sad disappointment as an outlet for frozen beef from for- gn countries. We do not deal with consumers directly and cannot blame predicament, but we know from experience that retailers will not buy frozen meats, unless they can get them at prices that do not cover the cost of impor- tation. “This has been a sad disappoint- ment to us. Knowing that England had been the chief outlet for Austra- lian and Argentine frozen beef previ- ous to recent changes in the United States tariff and that the product moved freely into consumptive chans nels there, we made large purchases f beef and mutton, to be delivered to us in a frozen condition. This we were to hold here and dispose of as consumptive needs of the trade re- quired. “After exerting much time, effort and capital, we found that our only reliable outlets were large supply houses, hotels and railroad construc- tion gangs. Retailers catering to the smaller consumer would not con- sider our offerings except at ruinous prices. “Chilled beef, which differs from the frozen product in'that it has to be sold promptly, while the latter can be held for an indefinite period, sold fairly, but frozen beef had to be heavily discounted to move at all, and then only limited quantities could be sold. “It has been said that packers were holding foreign frozen beef and | mutton off the market, in order to keep the price of domestic meats at a high level. There are absolutely no | grounds for any such statement. As | a matter of fact, packers are now losing money on beef, and this in spite of the fact that they are get- ting record prices for hides and all other by-products. It is when meat | products are low that packers can make the most money. ! “The average cost of beef on the hoof is higher now than ever before at this time of the year and I do not look for any cheap meats until the production of meat animals has caught up with the increase in popu- lation. This, T believe, will not be for many years.” { Rangers and with the | Winsted at Hartford. Meriden at Winsted, ‘!"o?imon. Future Greats East Ends Vs, Farmington. The East Ends will hold practice tomorrow night at the East End dia- mond and all players are requested to be present. The East Ends will journey Farmington Saturday afternoon and will endeavor to put a crimp in the long string of victories of the Valley league leaders. The following men will make the {rip: Schade, J. Wright, Moore, Fusari, Dudjack, Don- ovan, Begley, Schroeder, Abraham- son, Brennecke, B. Smith and Berry. The trip will be made by Carlson and Torrell's big auto truck, leaving East and Dwight streets at 1:10 P. M. and Church and Main streets at 1:30 P. M. Al those wishing to go notify Manager Earnest, Allen's pharmacy, al Bast and Dwight streets. Sunday afternoon the East Ends will clash with the “Tabs” in the third and deciding game at the East End diamond. As each team has won a game this should be a hummer. Game called at 3 P. M. with Robert- to ! son holding the indicator. Rangers Vs. Acorns. A great game is expected at Rang- ers' field Sunday afternoon when the strong Acorn team makes its appear- ance. This club hails from Hartford and among its games this season is a tie game with the fast Poli aggrega- tion, recognized as one of the strong- est teams in this section of the state. The Rangers are confident of pulling one over on the Acorns and Will have a strong line up in the field. Dud- jack and Schade have joined the rest of the team playing in its present form, makes it a hard nut to crack. Bloom will catch with Nelson, Gerlander, Dudjack or Descola on the firing line. Game called at 3 o'clock. VALLEY LEAGUE SCHEDULE. The following is the schedule of the Valley league which closes its season on September 20: 7 July 25—Hartford at Bristol, Meri- den at Torrington, Manchester at ‘Winsted. July 26—Winsted at Hartford, Tor- rington at Meriden, Bristol at Man- chester. August 1—Manchester at Bristol, Meriden at Winsted, Hartford at Tor- rington. August 2—Torrington at Hartford, Bristol at Meriden, Winsted at Man- chester. August 8—Hartford Meriden at Bristol, Torrington. August 9—Bristol Winsted at Meriden, Manchester. August 15—Bristol Hartford at Meriden, Winsted. August 16—Winsted at Bristol, Tor- rington at Hartford, Meriden at Man- at Winsted, Manchester at at Hartford, Torrington at at Torrington, Manchester at i chester. August 22—Meriden at Manchester at Torrington, Bristol, Hartford jat Winsted. August 23—Manchester at Meriden, Winsted, at August 29—Bristol at Manchester at Hartford, Meriden Torrington. August 30—Hartford at Manchest- {er, Torrington at Bristol, Winsted at Meriden. ‘September 5—MHartford at Bristol, Manchester at If your dealer can’ send 10c for one package $1.00 forac. September 6—Bristol at Meriden, Winsted at Manchester, Torrington at Hartford. September T—Hartford at Meriden (2), Torrington at Winsted (2), Man- chester at Bristol (2). September 12—Meriden at tol, Hartford at Torrington, chester at Winsted. September 13—Bristol at ford. Torrington at Meriden, at Manchester. Bris- Man- Hart- Winsted City ltems ! Stanley Post, G. A. R. met last night and received reports from the sick visiting committee. Three mem- bers of the post are ill. Chimneys repaired, H. Trainor Co. Leave orders at Mills Hardware Store.—advt. Miss Margaret Meehan of New York, is visiting in this city at the home of Mr. and Mrs. Patrick Meehan, 28 Lafayette street. James McCarthy is recovering from an operation for stomach trouble at the Charter Oak hospital in Hart- ford. GEERS CUIDES ETAWAH 10 WORLD'S RECORD “Grand 0id Man” of Racng Cicans Up Toree: Events. North Randall, Ohlo, July 23.— Hungry for the sight of Pop Geers seated behind a winner the racego- ing public had its appetite satisfied yesterday at North Randall when the old man piloted Napoleon Direct to victory in the 2:12 pace, the final event of the card. The race went six heats. Geers did not stop sensational race, but further jumped into the limelight by driving Etawah to the world’s four-year-old record for a trotting stallion, the great colt stepping the distance in 2:04, Also Geers drove Anvil a mile in 2:02 3-4, the fastest mile trotted this year and the third fastest mile ever trotted b a stallion. Napoleon Direct was entirely over looked in the auction pools. Napo- leon with Wiley Custer composed field which went begging at $10, whilc Shadeline sold at $100, Coasfess Mobel at $65, Sidney Dillon, Jr., at $40 and Nellie Temple for $35. In the first heat Shadeline won a rousing finish. Then all the drivers took things easy and Geers sent Napoleon out in front. He repeat- ed in the third mile. Coastess Mobel won the fourth and fifth heats. In the final clash only Napoleon and coastess Mobel started and Geers rode under the wire a winner by a head. Napoleon paced the final quar- ter in 28 1-4 seconds. at winning this in on of ten pack- ages (200 cigarettes), postage Don’t Look for Premiums HE cost of the choice Turkish and domestic tobaccos in Camel Cigarettes prohibits the wuse of premiums or coupons. Here’s a cigarette of exquisite flavor that doesn’t leave that cigaretty taste and simply can’t bite your tongue nor parch your throat. Isn’t that just what you're after? Sold all along the line, 20 for 10c. R. J. REYNOLDS TOBACCO CO. |CHANCE GETS. KRAFT T0 PLAY FIRST SACK Man Who Amast Caused Strike Now a Yankee. New York, July 23.—Clarencs Kraft, the first baseman who was the subject of the late quarrel between the National commission and tha Baseball Players' Fraternity, is play- ing with New York today. Presiden! Farrell of the New Yorks purchase] Kraft from Charles H. Ebbets, the Brooklyn and Newark magnate, yes- terday. The terms of the transaction were not announced. It is belleved that the acquisition of the man who almost precipitated a general strike in the major leagues means the departure of Charlie Mul- len, who has been playing a very wensational game at the first corner for Frank Chance. Mr. Farrell an- nounced that he would retain Mulleh for the time. But it is understool he will not keep him long. Mullen was obtained from Lincoin, Neb., during the New Yorks' first gwing around the western wing of the American league, He came to Chance for thirty days’ trial. The understanding was that Mr. Farrell was to pay $5,5600 for tie youngster if he made good in fast company. Mullen’s fate, of course, on Kraft's ability. Thé new baseman comes with the reputatioh of a slugger. But he is an untried quantity in the major league. Should he prove a disappointment the team will still have Mullen to fall back up- on, as it is understood that Mr. Far- rell is making arrangements to have Lincoln extend the option period lomg enough to permit of Kraft's thor- ough trial. Many close students of the garmm who have watched the very success- ful efforts of the New Yorks against the western clubs during their-pres- ent stand at the Polo grounds believe that Frank Chance is making a seri- ous mistake in experimenting further with first base material. Mullen is &s fine a fielder as can be found any- where in the American league. He an unusually fast fellow, too. Mullen’s hitting has improved with wery game. Against Detroit's best sitchers yesterday he had three hits n seven times at bat. COMMITS SUICIDE, NOT MURDER. Paterson, N. J., July 23.—A pas- senger on the Erie trafn No., 48, from Einghamton, shot and killed himself as thetrain was nearing Paterson yes- terday afternoon. Several persons saw him draw a revolver, but he used it so quickly that there was not te stop him. A letter signed Mi Cusack, evidently the man's nam, said that he had thought of killing & Binghamton farmer, but couldn't de: cide whether or not it would be worth while. He had $130, two gold watches and a diamond ring. TWENTY YEARS SPECIALIZATION IN THE PRODUCTION OF MILK FOR INFANT FEEDING, and other high grade dairy products, available for the citizens of New Britain. The well known CLINICAL NURSERY MILK (Trade-Mark) produced by the Vine now deliver daily. Hill Farm Company, Orders may be ’phoned to the DICKIN- SON DRUG COMPANY, telephone 330, or mail to VINE HILL Elmwood. FARM COMPANY,