Board Finds Bond Issue Lawful and Necessary
The board splits as Commissioner Anderson opposes the bond issue, arguing it violates the law and Massachusetts precedent. The majority, led by Macleod Bishop White and Stone, supports the petition, aligning with railroad and stockholders’ counsel.
MENTIONED IN THIS ARTICLE
Board
Anderson
Commission
Massachusetts Supreme Court
Fred. J. Macleod
George W. Bishop
Clinton White
Everet E. Stone
Railroad
Stockholders’ Protective Committee
The
Post
George W. Anderson
New Haven & Hartford Bonds Up to 67 Million Approved
Public Service Commission approves convertible debentures totaling 67 552 000 for New York New Haven Hartford Railroad to fund floating debt and parts of funded debt and to issue 675 520 shares at par for conversion to stock. Decision cites public interest and outlines use of funds and conversion terms.
MENTIONED IN THIS ARTICLE
Public Service Commission
New York, New Haven & Hartford Railroad Company
Public Service Commissions
Commonwealth
Commission
Massachusetts
Frederick J. Macleod
Everett E. Stone
Clinton White
George W. Bishop
Dissent Censures Massachusetts Railroad Stock Ruling
Commissioner Anderson protests a majority order as illegal and void and urges Massachusetts law and prior court decisions guide stock issuances. He argues the commission lacks power to count Connecticut stock for new debentures and warns of investor losses and public harm.
MENTIONED IN THIS ARTICLE
Anderson
Publc
Massachusetts
Railroad Commissioners of
Supreme Judicial Court
New York
New Haven
Hartford
Mass
Connecticut
Supreme Judicial Court of the Commonwealth
Attorney-General
Joint Commission
Validation Commission
Also Mentioned on This Page
Interstate Commerce Commission
New England
Fall River Gags Works
Gas & Elec
Mass. People
Stevens
N. Y
New Haven Road
Massachusetts Pips Line Co
Treasury
Pall River Gas Works
Gas and Electric Light Commission
Russell
Fitchburg and Leominster
Railroad Commissioners
Woman’s Home Companion
Margaret Jand
Hsau
Margaret Delands
Esau
Jacob
Nina Morgan
Margaret Deland
Mrs. Deland
Kirst-Col
Kirst
Filene
Meteor
Filene’s
Paris
Georgette
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