Report on the New Haven

After running the New York, New Haven and Hartford R.R. Co. for eight months, Patrick B. ("Pat") McGinnis decided last week to find out how the road's commuters feel about the service.

Questionnaires will soon be sent to most of the 34,500 commuters who travel from Connecticut and Westchester County (N.Y.) to New York, making it one of the biggest commuting railroads.

There was little doubt that Pat McGinnis would receive many complaints; his practices had not lived up to many of his promises during the proxy fight last spring with Boston's Frederic C. ("Buck") Dumaine. McGinnis had promised more express trains, longer loading platforms, bigger parking lots for commuters along the road. So far, the only noticeable improvements were two enlarged parking lots.

Despite a continuing, loud rumble of complaint, many commuters, including Fairfield County Commuters Association President Thomas Early, were willing to give McGinnis credit for at least holding the line. He had withdrawn a 25-30% fare increase submitted by Dumaine to the Interstate Commerce Commission on the ground that it could cause more commuters to drive to New York. He had rescinded a Dumaine order to cut 46 trains off the entire system. He was also trying to boost revenues by encouraging drivers to climb aboard the New Haven; crews were stationed at parkways into New York to check on car-driving commuters, and McGinnis plans to rearrange train schedules in hopes of attracting some 3,000. Also, he has lured suburban housewives to New York with half-price fares on a weekly Ladies' Day (Wednesday).

On the financial side, McGinnis reported November earnings of about $1,000,000 v. $425,559 in the same month last year. He has cleaned up $4 of arrears on the preferred stock and, in the first quarter of 1955, hopes to pay off $5 due this year. He is also "very hopeful" of announcing a 5% stock dividend in the spring, and another 5% in the autumn.

Whether McGinnis' showing was good or bad, it looked as though he was firmly in the saddle. Dumaine was showing little appetite for renewing the proxy fight. Recently, said McGinnis, Dumaine and his associates have unloaded some 146,000 shares of New Haven (leaving 150,000), thus reducing his chances of a comeback.

McGinnis last week nominated a new slate of directors, including the eleven already on his side, and ten more to supplant the remaining Dumaine men. Said he: "I told Buck I'd offer him five directors if he'd agree that my offer would be effective only if he still held stock next April. Hearing no counteroffer, I simply proceeded."

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