monopoly

J.L. Billard (LOC)

from The Library of Congress

• pennylrichardsca (now at ipernity) said:

  John L. Billard of Meriden CT, coal dealer, president of a building supplies company, big stockholder in regional railroads. www.lyon-billard.com/lyon-billard-history.html

• Ksenia De said:

  So picturesque man

• Art Siegel said:

  His appearance in the Bain collection is probably in connection with his dealings in an infamous transaction which resulted in criminal and civil actions against him in October and November, 1914. He was accused of being the middleman in a case where one railroad had been ordered to divest its holdings in another. Being a wealthy coal merchant, but without a background in railroading, he claimed he offered to buy the holdings, which he did, then re-sold them to an affiliate of the seller for a $2.7 Million profit. Actually, Charles S. Mellen, the selling party for the Boston Maine Railroad, helped finance this collusive sale as a conspiratorial transaction to later re-acquire the divested shares. Both men were indicted by the government and subjected to a civil suit for restitution of the money gained in the transaction. One of the many stories on the scandal: "NEW HAVEN SUES BILLARD TO GET $3,828,147 BACK; Mellen and Five Others Also Defendants in Action Over Boston & Maine Sale. NOT A BONA FIDE TRANSFER Secret Trust Formed to Hide Real Ownership of Stock, New Management Alleges. DENIES CASH WAS BILLARD'S His Claim That It Was Called Fraudulent ;- Proceedings Prompted by Interstate Board Inquiry." query.nytimes.com/gst/abstract.html?res=9507E6D71638E633A... On November 5th, the day before the Bain negative date, he had appeared in court in New York to answer the criminal indictment for conspiring to monopolize the transportation business in New England. "WM. ROCKEFELLER AND BILLARD PLEAD; Appear Personally in Court and Answer Not Guilty to New Haven Indictments. CAME EARLY TO AVOID CROWD Oil Man Seemed Nervous and Answered Clerk's Questions Indistinctly. BILLARD HAS OWN LAWYER Does Not Use Counsel Provided for Other Directors ;- Rockefeller Poses for Photographers." query.nytimes.com/gst/abstract.html?res=9F0DE6DE1738E633A...

• Ryan (LOC P&P) said:

  Thanks so much for the added information artolog. We'll fill in the name and add the date the next time we update the record.

• Richard Norton said:

  en.wikipedia.org/wiki/John_Leander_Billard