Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1913-01-12
No Considerable Amount of
Stock OF Two Corporations
Shall be Held by Same lndI-
ylduall Says Wickersham,
VAST HOLDINGS MUST
BE GOTTEN RID OF
Government Believes 0iyofc-
ing is to be Accomplished
in Earnest, According to Or
der of Court,

ms Morning Journal special Ici.rt uire.l
Washington Jan. li.--Sicps viii be
taken Immediately bN thc southern
Pacific railroad 20 elect board 81
directors distinctly allied with that
road. to represent Il la the negotia-
tions with Attorney General Wicker
sham f0r the formulation uf q plan
dlssolNing the Union Pacific and The
Southern Pacific merger ln neeofd-
anrc with the decree of the supreme
court. This fact developed today Hft=
er conference of the attorney gem
crni and the protective committee -
the southern Pacific. appointed 70
look nfter the roads interest in ron-
necticn with the dissolution Because
81 the present large holdings 81
Southern Pacific stock hy the Union
Pacific. the bnrd of directors Of the
Southern Pacific is regarded as large
iv representative Of the Union pacific
Interests The attorney general desires
to deal with men closely representing
both roads IN order That he may have
the benefits of the points Of tiew 81
cnch party concerned TndnN's con-
ference between the attorney general
James ~ Wallace. Albert ~. .Wlggin.
Frederick strauss. J. Horace Hard
ing aud Henry ENans. ana of NtN
York. was the first discussion The at
torncv general has had with repre-
atutatifas af the southern Pacific
since the decree of dissolution. the
negotiations pre,iously having been
entirely for tue Union Pacific inter-
osts.
Only tbe general phases uf ten
tative dissolution plan were consider
od today It's principal feature.
which the attorney general Is under
stood 10 approve, is that thc South
crn Pacific turn over 90 the Union
Pacific the Central Pacific line, which
runs from ogden 60 San Francisco
This line. the S67,275.O00 common
and S17.#00.000 preferred stock. Of
which is owned exclusively by the
southern Pacific, would give the tn
Ion Pacific an extension TO the Pacific
toast BY the tentative proposition.
the transfer would be- accomplished
hy the Union Pacific surrendering g
the Southern Pacific part of the
Sfe6.00U 700 Southern Pacific stock
now held by the Union Pacific and
ordered relinquished by the supreme
court.
A complication in this connection
is the fact that the Central Pacific
stock is now reserved as collateral for
the Southern Pacific 4 per cent bonds. |
II his exchange is agreed upon an
involved problem faces the negotia-
tors in reaching an agreement as 10 +
the disposition Of the remainder of
the sf26,000.000 of Southern Pacific |
stock held by the Union Pacific Of I
ficials of the department of Justice T
concede that the supreme courts de- /
csion does not forbid the Union |
Pacific distributing or selling a small /
part Of their holdings 70 it's stock /
holders. The attorney general main I
tains. however. that no substantial +
can so to Union Pacific T
Conferences of the last few days
have encouraged the attorney general
TO believe. it is said. that all the in
parties are disposed To make
q serious effort to reach an agree
incnt of dissolution for presentation
10 the courts for ratification. The
southern Pacific committee. which
presented no particular plan. but ass
sumed an attitude Of study Of the Sit
uation. returned TO New York this
afternoon for further consultation
with southern Pacific interests
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