New Britain Herald Newspaper, April 25, 1917, Page 10

BELIOTT EXPLAINS | HIS RESIGNATION gves He Should Consider Bestb Interests of His Family (Special to the Herald). & New York, April 25.—In a state- ent issued here late yesterday aft- noon, Howard Elliott explained why had resigned the presidéncy of the ew York, New Haven and Hartford lroad. He also included in his tement, which was in the nature i a valedictory, a review of the prog- of the “New Haven” system since took the throttle. His statement s: M “With much regret T have come to conclusion that it is for the best terest of my familv and myself to Blieve myself of the work incident to executive management of the New lven road and its assoclated prop- @rties. I considered taking this step b year ago, but felt that the work of organizing the staff of . the com- y had not gone far enough to jus- ify me in retiring. £ “Nearly four years ago the directors the company asked me to come to #w Bngland and help adjust.a very plicated transportation situation. ted to take up the work because dnvolyed interesting railroad and nomic problems; because T am a ver in New PBEngland and its fu- e, and because of personal interests New England. “**The actual conditions surrounding New Haven and the obstacles to progress that developed shortly aft- I came were unusual, unexpectcd unforeseen. The attitude of the de: government, resulting in a iPlete dissolution of the New Ha- system: the declaring illegal by assachusetts courts of a plan guaranteed $67,500,000 in cash floating debts and make needed rovements; the mumerous investi- = of the company’s affairs; the jy serious business depression be- ‘early in 1914 ‘and lasting un- 'summer of 1915; the European and the disturbed industrial con- ons, , @1l combined . to ‘complicate work to be done, and to delay ning ‘the results desired in the erest of the public,' security-holders the employes. Then, too, public Inion was excited and adverse to the | he directors, officers and the em- nd the bankers, who have d to carry the floating debts, alt worked diligently and much been accamplished in adjusting afflairs of the company and laying undation upon which to build. ‘After nearly a vear of negotiation thé' department of justice an ent was made in 1914 which . ‘from the control of the com- y a very large amount of its prop- . This agreement with the gov- iment was entered into by the com- y.to save it, and changed the en- situation. ¥ i he failure of the plan to issue 2,500,000 convertible debentures left e company confronted with a float- 'L debt of nearly $50,000,000 and no [ans of meeting it except by short- notes. *The floating debt at one e was nearly $56,000,000 but it has reduced in the last three years '$43,000,000 and notes have been for $45,000.000 to care for that idness and leave $2,000 for im- fovements. Ernest’ efforts have been continu- | for several vears to have the laws ing the company in Massachu-/ Connecticut and Rhode Island le harmonious, and there is a good | Bance of success this spring. Such fagisiation should permit the adoption a plan for caring for the floating , 'which hangs like a millstone jout the neck of the company. o The 'Wolf at the Door. . WElow serious the depression of | ness and the demoralized condi- | of the affairs of the company in 1914 is evidenced by the fact for the year ending June 30, 1914, company had only $268,000 left paying expenses, taxes and fixed ges. For the three calendar ending December 31, 1914, 1915 1916, the balance above fixed jes was: 1914, $182,960.36; 1915, B @le59.139,76, and 1916, $5,654,977.36. e various departments have been ized and strengthened, and methods have been and are be- introduced. Some of the impor- problems of the company now & To adopt a plan for handling floating debt, and for obtaining capital for improvements. In dering this the stockholders | NEW BRITAIN DALY H Make Thrift a Household Word Teach the children to be thrifty. Habits formed in childhood are not apt to change in after years. The ke; SunorA with more than SmoA HOME SET is an outfit for opening box of shines and a unequalled for economy and convenience. BLACK—TAN—WHITE At all dealers — Take no substitute. SHINE WITH SumotA AND SAVE should realize that they are the' own- ers of the property and ought to come to its rescue by furnishing some new capital and not rely indefinitely upon banks and bankers for temporary loans which create a very uncertain dangerous situation. To dispose of the so-called “outside properties” (which must be sold under the federal decree) at a minimum loss, and, use that money for improvements' or paying debts. “3. obtain rates—freight, pas- senger, mail and express—that will enable'the company to meet the stead- ily increasing wages and the increas- ing prices of materials, the seri- ous conditions imposed by the war. “4. To merfect every detall of management so as to save the maxi- aum amount of money, °*“5. To spend from earnings or from new capital enough money in the next five years to modernize the plant .and make it adequate to the needs of New England—to orovide better working conditions resulting In substantial economies, in the hope of paying a return to the shareholders. “The property is a wonderful one and its success nmow - depends very largely upon the willingness of the stockholders to help pay’its debts and Qf the public to pay rates sufficient ta meetithe rising expenses and have enough left with which to make im- provements and, to improve’ the credit of the company; also, upon the con- ditions that will result from the en- trance of the United States into the World War. The burdens on this ‘country because of this war are not vet realized to the extent that they should be. Everyone will have to help—there must be self-denial— much inconvenience and probably | some suffering. ‘The transportation systems of the country will without doubt have to give less service alomg some lines so as ‘to conserve fuel, equipment and men for war purposes, and doubtless travellers and shippers will be willing to accept the situation. Conditions ¥mproved Today, “The property is in better condition today than for several years past, and a comprehensive plan of improve- ments has been made and much of the work is going on. $18,258,000 has been spent for equipment, additions and impravements and the protection of subardinate properties since June 30, 1914, The operating results of the New Haven and Central New Eng- land roads, which are managed as one property, compare for the years end- ing December 31, 1913 and 1916 as follows: 1913 1916 Operating revenue .. $72,856,580 $85,640,365 Operating income .. Ratio of oper- ating expenses to operating income .... 71.78 P, C. - 66.92 P. C. “In 1916 a greater valume of busi ness could have been handled if the facilities of the company had been better in the matter of tracks, ter- minals and powerful locomotives, and ifi the facilities of the receivers of freight had been such that loading and unloading of cars could have been made without delay. “The results for the three months ending March 31,-1917, show an in- crease in gross revenues of $1,625,000 and in net of about $1,000,000. Gross revenues for April are showing good increases. Increases in net cannot be continued unless substantial in- creases in rates are permitted, be- cause the company is beginning to feel the effect of the increased wages and prices of material, which effect will be cumulative and amount to large sums. “Public opinion s much more favorable to the company than four vears ago. and the relations of the'| company to the state and federal 16,715,056 25,125,268 %t THOUSANDS 2t UPON THOUSANDS OF HEALTHY BOYS & GIRIS EAT - Grape -Nuts AND CREAM EVERY MORNING BECAUSE WISE MOTHERS KNOW “There's a Reason” governments are harmonious and co- operative. “Feeling the need of an occupation that will permit me a little more time for my family and myself, and the necessity of less severe work after nearly thirty-seven years of amlost continuous service, I have Asked to be relieved of the work and responsibility with which I have been burdened for nearly four years, 2 “I have given of my best in an effort to solve the campany’s prob- lems. I feel that much has been ac- complished ,and I hope to be of some assistance in the future. “I shall remain a director as long as desired and help in any way I can about the financial plan, the sale of the “outside properties,” the general policy of the company, and will advise with the officers as frequently as de- sired by them. > “As a member of the Committee of five railway executives appointed at the request of the natioral council of defense, I shall endeavor to help New England obtain 'the necessary fuel, food and supplies. “I want to express my thanks. to the many men in the service, officers and employes, wha have worked hard and loyally to help carry the com- pany along up to the presept time— to the public service commissions that have been helpful, and to the press that has been most cordial and helpful in pointing out the great necessity of rehabilitating the com- pany in the interest of New England, and to many public bodies and patrons of the road. b Introducing the New President. E. J. Pearson, the new president, since March 9, 1916, has been a vice president of the New Haven road, with headquarters in Boston. He has acted as a general assistant to Mr. Elliott, and in particular has had charge of all matters relating to construction, operation and mainten- ance. 2 Mr. Pearson is 53 years old and of New England stock. In 1883 he was graduated from Cornell with the de- gree of civil engineer. His mother was born in East Corinth, Maine and the family later moved to Branford, Connecticut. His father was born .at Byfleld near Newburyport, Massachi- setts. Like'many New England fam- illes, they moved to the West, but Mr. Pearson always kept up his associa- tions with New England. ‘When in the service of the Northern Pacific, he made a complete examina- tion of the wharf and dock properties of the New Haven road all the way from New York to Boston so that he could be helpful in the construc- tion' at Duluth and Puget Sound. Before his appointment as a vice president of the New Haven he walked the greater part of the distance from New York to Springfield for the pur- pose of examining New Haven track and maintenance methods. His previous experience in railroad life had been as follows: i On the Northern Pacific: Assistant engineer, 2 yeal engineering super- visor, 4 years; division engineer, vears; principal assistant engineer, at Chicago, 2 years—in this position he had entire charge of the building of the Wisconsin Central terminal, which, at that time, was leased to the Northern Pacific; division superin- tendent on 3 difficult divisions, years; assistant general superintend- ent, 2 years; chief engineer, 2 years. Chicago Milwaukee & St. Paul: He was in charge of building the Puget Sound extension of the St. Paul road, an important piece of work taking over five years. Missouri Pacific System: He was vice president under Mr. Bush, in charge of maintenance, operation and construction and did much work in rebuilding and developing the line and in introducing economical operating methods for four years, Texas & Pacific: He was vice pres- ident in charge of that property and all of its departments, with head- ®quarters at New Orleans, for one yvear. Mr. Pearson has had a large experi- ence in construction and operation, particularly in terminal work, not only on the railroads mentioned but also on the New Haven and in New England cities, and in Chicago, St. Louis, Kansas City and New Orleans, where the Texas & Pacific has com- pleted important terminals. He also has had a long training in the analysis of operating problems, and in econom- ical methods of carrying on railway business. b BAZAR PROFITS ARE $1.303. It was announced today that re- vised figures have shown a profit of $1,303 netted by the bazar recently conducted by St. Mary’s sodality- This is several hundred dollars in excess of the figures which have aiready been published. It was the most suc- cessful bazar in the history of tl sodality, reflecting credit on the mem- bers and those who patronized the affair. G. FOX & CO. HARTFORD ERALLD, WEDNESDAY, 'APRIL 25, 1917, Charter 1580, Mail Orders in all carefully filled. Telephone Special orders Charter 1580 Main Office for Paying Bills, 39 Allyn St., Telephone Lines G. Sample Sale of Ladies’ Crepe de Chine Satin and Muslin Wear We are most happy to announce that the sample garments we are offering our customers today, notwithstanding vance in prices. are better than we ever offered in the Main street store. Every article represents a clear saving of 23 1-3 to 40 pex cent. the regular price. *As you know sample garments are best of all, soyou'll be interested in, getting your share of The Skirts wear. The Gowns Crepe de Chine Gowns in one or two of sale price $6.50 to $7.60 Gowns, sale price $5.00. each style, $5.00 grade, |1$9.00 Gowns. sale price $7.50. Muslin Gowns in high, V, square and low neck styles; long, medium and short sleeves: $1.00 and $1.25 Gowns, sale price 75¢. $1.60 Gowns, sale price 95c. $2.00 and $2.50 Gowns, sale price $1.49. $3.00 to $3.50 Gowns, sale price $1.98. $4.00 to $4.50 Gowns, sale price $2.98. $5.00 to $6.00 Gowns. sale price $3.98. '$7.00 to $7.50 Gowns, 'sale Price $5.00. Envelope Chemise Crepe de Chine Envelope Chemise, both tailored and lace trimmed: $2.25 Chemise, sale price $1.79. $8.50 and $4.00 Chemise, sale price $2.98. $4.50 and $5.00 Chemise, sale price $3.98. $6.00 and $6.50 Chemise, sale price $5.00. Muslin Envelope Chemise: $1.00 and $1.25.grade, sale price $1.50 to $2.00 grade, sale prices $1.19 and $1.20. Big Purchase of Women’s Tub Dresses, worth up to $2.98, for nd maids’ uniforms; sizes 36 to 46; all colors.” ROLLER SKATES FOR GIRLS AND BOYS. Notion Department. All styles. Prices 50c to $2.75. Two styles—and we offer these Suits more as an advertisement for the new Pratt Street Deparment than for the money profit. vertised ' price. patch pockets. patch pocket and gathered back, finished with a belt. $2.00 and $2.25 grade sale price $1.49. $3.00 grade, sale price $1.98. $4.00 grade, sale price $2.98. $1.00 85 dozen Dresses were included in this purchase—and we only asked for m ore. They're narvels at the price—considering the cost of cottons today. shambrays, linenes and a few white pique; high and low n.eck styles, suitable for nurses’ There were percales, ginghams, - FOX &C HARTFORD Drugs and Tollet Articies. Pratt Street, and Branch Store, 2 Talcott Street. outlandish ad- from these pretty pieces of Under- the Muslin Skirts, Hamburg and lace trimmed: 75¢c. $1.50 Skirts, sale price 95c. $2.00 and $2.50 $3.00 and $3.50 $4.00 and $4.50 $5.00 and $6.00 $8.00 Skirts. sale $10.00 Skirts, sale price $7:50. The Bloomers Crepe de Chine and Satin Bloomers in price $1.49. price $1.98. price $2.98. price $3.98. Skirts, sale Skirts, sale Skirts, sale Skirts, sale price $5.98. white and flesh color: 38 only: $2.25 and $2.50 Bloomers, sale price $1.98. $3.50 Bloomers, sale price $2.98. $5.00 Satin Bloomers, sale price $3.98. Corset Covers Covers of muslin with lace sleeves, size $1.60 Covers, sale price 95c. $2-00 Covers, sale price $1.49. Butterick Patterns THE BEST OF ALL We are now Hartford agents and you'll find them in the Trumbull Street section, "Flower Trimmed Hats $5 to $15 A touch of flowers on the summer chapeau—what more beautiful or suitable? ‘We can show you Flower Trimmed Sailors in large and medium shapes; Tricornes and' close-fitting Turbans. Some of the Hats are also trimmed with ribbons and ornaments and a few have Georgette facings. Mostly in black. Women's Wool Jersey Suits $25 . Regular Price $29.75 They're strikingly new models. one with box pleat in center of back, belt all around and The other has plain back, with Gibson pleats at the sides, belt all around. Kelly green and Labrador blue., Sizes 16 to 42. WHITE BOOTS For Women The most beautiful Boot for the summer season is the White boot. We have a complete line from the Sea Island canvas to the fine Kidskin; see them; $4.00 t0 $10.00. White Kid (genuine) 8-inch Lace Boots, Louis heel, $9.50- turn sole. cove‘-ed White kid 8-inch Lace Boot, white welted ‘sole, covered Louis heel, $9.00. White and Black Novelty Boots, turn sole, covered Louis heel $10.00- ‘White Nubuck 8-inch Lace Boots, white sole and leather Louis heel, also medium toe and low heel, $6.00. ‘White Sea Island Duck 8-inch Lace Boots, white welt, white heel. $4.00 and $5.00. The colors are white, biege, gray, gold, chartreuse, CORSETS $3 C B a la Spirite, in pink and fancy batiste, sale price $1.49. $2.00 C B a la Spirite, sale price $1.00. The original ticket remains on each Suit which will be offered at the ad- Skirts have $5.00 La Beatriss Corsets, $3.00. $5.00 Bon Ton Corsets model 243, in fancy broche, ‘Warner’s Rustproof $2.00 Corsets for the growing girl, $1.00. - De Bevoise Brassieres bric, Hamburg yoke back and front, for $3.00 of cam- x 59c grade, sale price 29c. Quality Gas Ranges Special at . $21.50 These Rangesthave plate shelf, 12 Talcott St. white panels and gray pans; three single, one Giant and one simmering top! burner, with large U shape oven burner. They have a 16x18x12 baking oven, 16x18x9 broiling oven. Are as good as Ranges that are priced much higher. At this price we cannot guarantee only a certain number contracted for. TO BUY $5,000,000 IN BONDS. \s. Steel Corporation Will Also Pay Tax Promptly. New York, April 25.—The United States Steel Corporation surpassed the expectations of the financial district ANNOYING SYMPTOMS How Heat Flashes, Dizzy Spells and other Bad F i Change of Life may be Relieved. Richmond, Va.—“After taking seven bottles of E. Pinkham' Vegetable Com- ”|Illmmuuu||" pound I feel ke & in better health new woman. Ial- meulndreeommmdym remedies to allmyfriends. *’—Mrs.LENA. WYNN, 2812 E. O Street, Richmond, Va. ‘While Change of Life is a most crit- ical period of & woman’s existencs, the annoying symptoms which accompany it may be controlled, and normal health restored by the timely use of Lydis E. w symptoms are a sense of suffocation, hot flashes, headaches, backaches, dread troubled with other bad feelings com- mon at that time— dizzy spells, nervous feelings and heat flashes. Now [am heart, sparks before the eyes, irregulsrities, constipation, variable sp« petite, weakness and dizziness, vesterday by reporting net earning of $113,121.018 in the quarter ended March 31 and by declaring an’ extra dividend of 3 per cent. on the com- mon stock. The street had looked for 2 per cent. as the possible maximum. The directors also decided to sub- scribe for $5,000,000 of the new gov- ernment 3 per cent. certificates of in- debtedness, and $9,600,000 was set aside to pay the corporation’s income tax for 1916 immediately on receipt of a bill, instead of waiting until the due date, June 16. SPORTDOM SPARKLERS (Continued From Elghth Page). Simpson East. Pennsylvania does not make it a practice to offer expenses, so Simpson will stay at home. A game with Brown, to be played at Providence on May 13, has been scheduled by the Rutgers baseball management to take the place of the contest originally scheduled to be played at New Brumswick on that day with Geongetown but which was cancelled by the latter on account of the war. Tufts and Lafayette have also asked for games with the Rut- gers team as a result of war canocel- lations on their schedules. Prince- ton has cancelled the game to be played in New Brunswick on June 12. Freddie Welsh, lightweight chem- pion of the world, ‘was given a de- visive beating in ten rounds before Eddie Burke's club in Scranton last night by Chick Simler, mnative of Scranton, who is mow making his home in New York. Simler had the better of eight rounds. Welsh won the sixth and tenth rounds, making Simler miss frequently in these ses- slons and pounding him hard in the face. Simler brought the crowd to its feet in the seventh, when he bat- tered the champion to the ropes and chased him to his corner at the bell. Billy Rotche refereed. ‘The ' Bloch bill, to permit the run- ning of amateur foot races on Sun- day, was beaten in the Assembly yes- terday, the vote being 56 to 57. Many such races are now held in the Bronx, and the effort to legalize them on Sunday was blocked by Speaker Sweet. Assemblyman Bloch, rising to a question of personal privilege, charged the speaker with holding up his bill for weeks by having it pigeon- holed in committee and with sending word to Majority Leader Adler, when the bill came up yvesterday, to beat it. “I admit I sent word tn Mr. Adler that I considered this a bad bill, and that I asked him to speak against it,” retorted the speaker. Les Darcy, Australian pugilist, who yesterday enlisted in the army reserve aviagtion, corps, after having been pre- vented from fighting in several cities because of the allegation that he was a “slacker ‘will meet Len Rowlands, of Milwaukee, in an eight round bout at Memphis, Tenn., May 7, it was an- nounced last night by a local pro- moter. Mayor T. C. Ashc¢roft, of Memphis, recently made Darcy's en- listment a condition for the granting of permission for him to fight. It was stated that both Darcy and Row- lands have agreed to terms for the match. Johnny Harvey, the Harlem light- welght, knocked out Joe Rivers in the seventh round of\the main bout of the Ploneer Sporting club in New York last night. Harvey put the Mexican battler away with a left flush on the jaw. Harvey’s achievement proved a surprise to the spectators, as up to the time of the knockout Rivers ap- peared to be holding his own with his sturdy adversary. It was a good, lively battle right up to the last second, Jimmy Callahan is the first man- ager in the big leagues to cut his team down to the limit of players al- lowed after May 15. . However, Calla. han is not yet satisfled with the makeup of his team, and is on the! lackout for players. In getting down { to twenty-two men the Pirate leader released a raft of youngsters whe failed to show any ability. Joseph Darwin Nagel, of New York! city, pole vaulter on'the Yale track tBellm I;I; been eleected to lead the ue cinder- path athl season of 1918, § Snemerey An intimation that intercall giate sports may possibly be reuum:d Harvard University next fall is cop- tained in a statement to Harvard ath- letes issued by Fred W. Moore, gradi ate treasurer of Harvard athletids. Mr. Moore urges students to take part . regularly in some form of outdoor sports, “for the benefit both of next year's teams, if there are such, and of the individual athletes.” He sug- gests that in the absence of the usual spring practice the football men mot : . in other sports should report for work 1 in fleld events, g y Freddie Welsh, lightweight cham-;: plon of the world, has been given ar commission as captain of the Ozark Rough Riders, Chevalier Danel Mo (I Ketrick and Harry Pollock, Welsh's manager, have agreed to go into the & ‘Welsh troop as privates. The Osark & Rough Riders have not yet been or—; sanized, but Colonel H. P. Dickinson, on whose ranch Stanley Ketchel was |~ killed, is now on his way to Washing- W ton to ask authority for raising the i Ozark regiment. There is a clause at. '& tached to the enlistment of McKet- rick and Pollok. They, being un-% famillar with the intricacies of th horse transportation problem, are to - be provided with a taxicab, in which they may move into action, The Massachusetts Yacht Racing Union last night voted to cancel all | races for the coming summer. Thei' " action of the union, it was stated, will{ not interfere with any races scheduled i by individual elubs, F