The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1912-12-05

ilOIlllutU lID1l page j
ton such disposition should be made
subject ia the approval and decree of
the court, and any plan for the dispo-
sition OF this stock must be such as TO
effectually dissolve the unlawful COM
bination thus created.
Three Months Time Limit.
"Any plan or plans shall be pre-
sented to jhe ,oJrt within three
months ltom the receipt OF the man
date OF ilis court. failing which, or
upon thu rejection by the court of the
plans submitted within such time. the
and sale, if necessary, to dispose OF
such stock in such wise as to dissolve
such unlawful combination.
The government has appealed
from the decree, which is a general
one dismissing the bill. So far as con-
Germs the attempt to acquire the
Northern Pacific stock and the stock
of the Atchison, Topeka and Santa Fe
railway company, afterwards aband-
oned, and a certain interest in the
San Pedro. Los Angeles and Salt
Lake railroad company, and other
features of the case dealt with and
disposed of by the decree and opinion
of the court below, it is sufficient,
without going into these matters in
detail, TO say as TO them We find no
reason to disturb the action OF the
court below, but for the reasons stat
&c the decree shall be reversed and
one entered in conformity to the
views herein expressed so far as con-
Germs he acquisition of the Southern
Pacific stock
IT the circuit court faithfully APP
plies the decision OF the supreme
court, a more direct competition will
be forced between the Union Pacific
and Southern Pacific than existed be
fore the celebrated merger VAS made
by Mr.. Hartman. Prior to the ac-
QUESTION OF the Southern Pacific the
Union Pacific reached San Francis
co by way OF the oregon Short line
to Portland and thence down the
Pacific coast by steamer.
Through control of the Southern
Pacific the Union Pacific obtained Il
connecting line in the Central Pacific
which the decision of the Supreme
court permits, as direct competition
VIII Dc 1i tdltu DclM cell IWO plTlIltl
lines from San Francisco to the east
more than ever has existed.
The decision also assures the fail
ure of the arrangement between the
New York, New Haven and Hartford
and the Grand Trunk. which has
aroused much feeling in New Eng
land. 1T is believed also that it will
apply to joint ownership of express
companies operating on competing
lines.
Will Carry Out Order.
New York City.-Not even "A ten
tative or skeleton plan to divorce the
Union Pacific and the Southern Pa
citic in conformity with the United
States Supreme courts dissolution
order was e olved AT a protracted
meeting OF the Union Pacific com
panN's executive committe today ac-
cording to Chairman Lovett of the
Hartman system and Director of OPP
Grafton kruttschmitt CT the Union
Pacific. Neither official would dis
close details of the conference.
Banking interests in the Hartman
properties as represented by Presi-
dent Nandcrlip OF the National City
bank and Motimer L.. Schiff for
Kuhn. Loeb and company, also at
tended the meeting but declined 10
enter into any public discussion CT
tAc supreme courts decree except 10
say that the mandate OF the court
would be carried out within the
time prescribed.
1t is taken for granted that the
conferees devoted much CT their
time to that part OF the supreme
courts decision wherein it is esti-
mated that Union Pacific might Sc
readjust its affairs as to retain con-
troll OF Central Pacific. This part of
the decree is almost the one crumb
of comfort vouchsafed the Union Pa
cific. although it is realized that such
a plan is sure to nee with strong
opposition on the part OF the indie
pendent Southern Pacific share
holders.
Steps in behalf of Southern Pacific
stockholders were taken today when.
according to announcements. Il COM
mittee consisting of James y. Wal
lace, chairman, Henry Evans, j. Hor-
ace Harding, Frederick Strauss and
Albert Within was formed to protect
the interests OF the stock OF the
Southern Pacific company in the
hands OF the public.
This committee, it was stated, will
at a later date, make further public