OCR Text |
Show NEW HAVEN NOT I TO SELL STOCK I Directors Refuse to Turn Over j Boston and Maine to M Massachusetts. - M New ork, July 16 By unanimous vote the directors of the New York. New Haven & Hartford Railroad j company, at a special meeting today, stood by their decision not to sell to the state of Massachusetts their hold-ings hold-ings of Boston & Maine railroad stock under the terms Imposed by that state. In the language of the official state ment, "the directors have neither receded re-ceded from their position nor closed the door to further negotiations " Terms Imposed by the state of Massachusetts in connection with th j sale of the New Haven's Boston & Maine stock contain the provision that each certificate must bear the stipulation stipu-lation on the part of the purchaser that he will sell his shares to the j state of Massachusetts at any time j named. j '1 he New Haven directors took the ground that compliance with this con-dltlou con-dltlou would render the stock unde-.-irable as a purchase on any fair J Deny Receivership. Emphatic denial was made of the j rumors recently current that applies tion for a friendly receivership was contemplated On this point the J statement says: The directors will not apply for, nor will they consent to a receiver-ship. receiver-ship. The company Is solvent, is earn t - ln its fixed (barges and Is able to meet its curreut obligations prompt- j m ' The board also considered the i- leratate commerce commission s re- cent scathing denunciation of the former management The only direct reference to this arraignment was contained in the bare announcement that a committee of three was to be i appointed to take the commissions H report under consideration and make known jls conclusion at a future meeting. , , j The meeting was attended by seventeen sev-enteen of the twenty-three members of the board, including William Rockefeller, Rock-efeller, who issued a denial of the report that he intended to resign. |