Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1912-12-19
SUPREME COURT IS
ASKED TO MAKE
DECREE MORE
SPECIFIC
Attorneys for Government and
for Union Pacific Join in
Petition for AmplifiCatiOn
Of Ruling.
DISPUTE CONCERNING
METHOD OF DISSOLUTION
lny Leased wiz. to nv-slaa nsraldI


Washington, Dec iH.--The supr"mr
court nt the luitrd states TODAY touk
under ndNlsrmcnt q combined mntinn
"t th" government ana the Union pac.
iiic railroad attorneys for "A moro
spv, ne decree us tn the rights oi
Union Pacific stockholdcra In the or
dcrcd distribution nf the fl2G,6iO 600
worth of southern Pacific stock own
'd hy the Union Pacific Railroad COM
pHnN.
The railroad attorneys wnnt the
luton Pacific stockholders exclusive
Us tu Ice allowed to buy tho stock.
Tho government IL opposed to such an
exclusive privilege.
Tho railroad attorneys explained
lu the court thut thCV considered
ih" only practicable method by which
th" stock could he distributed with
"ut rroparahlo injury, would be- for
the l'uiuu pacific company to ufrrr II
To H. own shareholders pro rata, ac-
cordIug tu the amount ot their hold o.
lngs, tor purchase at tnir price or
to distribute Il ~ dividend To- ~,
stockholdcrs entitled tu u dividend.
They declared that the attorney gen
cral NuH opposed Ia such u plan.
ITO refuse tO ALLOW the Union PAC-
ltlC shareholders to participate In
such u distribution" declared the at
tOrnoNS In tho papers they tllcd,
"would expose them tn serious lOsE
I ana possible irrcparlblc injury. The
offering for sale. upon the open mar
| kct of the Union paCifiC's holding of
the southern PHCitlcs shares, aggro-
| gntlng $l2G,Gt0.OO0 would not only
! inllict great injustice and irrcparablC
| damage upon the Union Pacific and
| itS shareholders hut also would cause
"A serious financial diSturnnncc by
over Supplying tho market demand foI
securities Of this character and con
sequcntly depressing the price. MOI
merely uf the southern Puclfc'I
shars owned By tho Union Pacific. bu
! HIgO Ot tho shares Of southern Pacific
held by others. aud even OF the socur
tiles uf other corporations dealt In OT
/ the market during and for long per
, tod after The Offering Of these South
Urn Pacific shares TOR snlc,"
Attorney General WickCrshHm iiiAt
| a memorandum with the court IN Op
/ position tu the railroad plan, attack
lng II aS IN uuWisu restriction upon
the power conferred upon the distrlC
/ court To dissolve the combination ant
prevent ita renewal a." expressed I
Willingness that the Union Paolh'
HtockhOldrrs should bo permitted 4
share In the distribution of the south
! crn Pacific stock, with tho Southern
7 Pacific btuCkhuldCrH.
Tho effect Dt u mere pro rata dis
tributiOn of the stock among tn
linton PucihC sturkhuldors," said At
torncy General Wickcrshnm. ia Who'll
~ predetermined. rho AtDCk lists nf
ford hut little crew 10 trio real owner
snip. II iB a well known fact whlCl
IN inspection ut the stock list con
FIRMS, that large amounts OF stOcl
stand ON the books In the names ~
banking and brokerage houses.
IN truu the stu,h rs distributed anon
Some $4,000 stu"khnld"rs, hut MIR
II. II, Hartman, Kuhn, Loeb ant
company ana iiIu directors of tn
Union Pacific ltHllrOad company, IN
Guiding the Chicago aud Northwestern
Railroad company, represented nn III
board Of directors by Mr.. MHrVl
lluRhltt, together hnld til2Il,00O o
its stock. lBI hHnkcrg and broker
zach holding l.00O shares or NOR
than $l3,7S7,SOO.'