Show SALE OF A RAILROAD J P morgan exonerates a banker of sharp practice new boik dec 2 J P morgan in a lebet addressed to harry B hol lans of the banking firm of H B hol unsafe company bald yesterday that a no time had he thought that there had been any unfairness on the part of mr colllns or his firm in the ealo 0 the fetock of the cincinnati hamilton dayton railway to the erie railroad through the J P morgan company mr morgan further said in bis letter that he had assumed the obligation himself to enable him to deal with the questions which might arise and act for the protection of all interests the correspondence between mr morgan and mr colllns follows december 1 1905 J pierpont pont morgan my dear mr morgan certain of the newspapers in commenting on the matter of the cincinnati hamilton dayton railway and the failure of the eric to acquire the property havo suggested or stated that in the purchase of the property by you my firm for tho owners had done or omitted to do which improperly or unfairly influenced you to make your purchase and that you have so stated As I 1 had nothing whatever ta do with the matter of the sale to the erie and am concerned solely with the nale made to you I 1 write to abc you whether anything occurred in malting the calo to you on my part or that ol 01 my firm which you consider improper or unfair OP whether you have made any statement to such effect faithfully yours ft HARRY B HOLLINS abla was mr morgans reply december 1 1906 harry B hoi una my dear mr Hollins Answering the inquiry in spur letter of this date I 1 am glad to have the opportunity to acturo you that I 1 have never thought abr do I 1 now think that in you sale patho stock of the C H D road through my firm to tho erie railroad company there was any unfairness on tha part of yourself or your farm and mhd I 1 have never made any statement 10 that effect the transaction which wa aub consummated during your absence in europe waa intended to bo for lh benefit of all thereto but as anally it appeared best that the erie company should not continue as pt the stock tand thus it under their own general mortgage not bo dealt could where the ama with to advantage in protecting and developing the property I 1 concluded of the myself to assume tho obligation and to erie railroad company pur enabling me to the lock thus arise deal with ahe and to act for the benefit and protection of all interests it Is not the first time that I 1 have made such a transaction and I 1 do not think in the end that anybody will regret it sincerely yours J P MORGAN the purchase repurchase re of the C II 11 D by mr morgan was the one topic of interest in wall street yesterday but aside from the correspondence glyen above no definite news developed what interested railroad circles the most was the future of the C II 11 D up to the time of its acquisition by the erie the C H D had been ono of the most important of the independent railroad properties in the coun try its position Is such aa to makof its ownership and plan a matter of great importance to the jarle big four wabash and to come extent the lake shore and pennsylvania railroads nothing could be learned last night as to what mr morgan will do with the gossip had it that tha acre marquette portion of the system would go to tho lake shore chec H D proper to the southern railway or the Pennsyl Taala or ono of its controlling lines |