Norwich bulletin., 1913-07-01
s88,OOO,OOO For
 General Public
SOUTHERN PACIFIC STOCK re
 BE AVAILABLE
DISSOLUTION TERMS
Approved by Court and Big Hartman Merger Comes to an End-Deeision of the Court Comes as a Surprise.

St. Paul, Minn., June S0-Federal Judges Walter H. Sanborn, William c. Hook and Walter I. Smith, sitting as the district court of the United States for the district of Utah. approved late today the plans agreed upon by At torney- General McReynolds and at torneys for the Union Pacific railroad and the famous Union Pacific South ern Pacific merger, known as the great Hartman combine, practically came to an end. The decree signed today will become effective with it's filing in the federal court at Salt Lake City, Utah, which probably will take place next Wednesday or Thursday
 Decision Came as Surprise.
 With the handing dwn of the final decree today, fears of litigation came l to an end, the first suit of the govern ment to dissolve the merger having | been filed at Salt Lake City in 1908. The decision today came as a sur prise. There was a brief hearing this morning at which the government was represented by G. Carroll Todd, special assistant to the attorney general and l the road by N. H. Loomis and H. w. l Clarke. The court then took the case | under advisement, number of times calling in attorneys for both sides to question them further concerning the. plan but there was no hint that ., de- cree would be given. Shortly before ! | ing, called in the attorneys and an-
 nounced that the court had decided to | enter a final decree, approving the l plan as presented by the attorney | general and roads counsel with practi- l callX but one exception. This excep~ 1 tion was the naming of Louis C. l Krauthoff of New York city as a, conn., 1 missioner of the court to see to 1t that
 the letter and spirit of the plan be
 carried out. The court also directed him to report to it from time to time.
 $88, 100000 to be Sold to General Pub ic.
 In brief the plan which had the ap- proval of President Wilson, presented b ythe attorney-general and counsel | o fthe road, and approved by the court, provides that the Union Pacific shall exchange $38,000.000 of it's $126, 900, 900 holdings in the Southern Pacific for the Pennsylvania railroads entire l holdings in the Baltimore and Ohio 1 virtually an equal amunt; that the re- main;ng $88,000,000 shall be sold to the general public through the Central l Trust Company of New York; that no present stockholders in the Union Pa cifc ,contin nuing as such, may buy any
 of the Southern Pacific stock so sold; that the transaction shall begin No vember 1, 1913, and if not complete by January 1, 1916, the court shall direct the disposition of any Southern Pacific stock remaining unsold
 Attorney General Disreearded.
 By tho decision today, the court dis regarded the desire of the attorney general that final decision be with held for the interpcsing of objections by interested parties, to which portion
 of the attorney generals plan Mir. Lcomis made objection at the hear ing today as unfair to the road. The
 attorney general also had asked in this connection that there be publica- tion of the plan as in the American Tobacco company case calling the at 1 tentior of interested parties that ob- jectirn might be made; but this also
 was overruled by the handing down
 of the decree by the court.
 Illegal Conditions May be AssaiFed.
 We deem a decree of dissolution
 more necessary at the present time
 than any other action" said Judge
 Sanborn after announcing the decree.
 The government, however, in the plan presented today sn0 approved by the
 court, expressly stipulated that should
 any illegal condition arise from the ex-
 change of stock, either under existing
 or future legislation or future inter- pretation hy the courts of present
 statutes, the government would have
 the right freely to assaiP' the ar l engagement.