Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-06-30

plan of dissolution r. sdhsfed
eee~eeee~eoeeoea
fBy rpnno6 vslru a. Rvrnine rlnrnln2
81. Paul Mlnn.. June 4o-~Xhe rInn
tor diaaplvang the Union phelIic.
Southern paoiilc merger which AZ
toTnoy General AIoIlegnolda wilhsiha
approval Of President Wilson aH4es6
upon with Officials Of the railroads.
waa presented hrre TODAY 70 Judrrr
w. III 6anborn. william G. Hook anf
walter /. Smith, sitting a. district
court Of the Einitod Staten gor TIM
dintrict oe Utah. and WAS taken une
der adglaemonl. q. Carroll Toad.
special assistant 70 the attorney gem
eral. represented the EovcFnmene ~
the hearing and ". n. Loctnia ana
X W. Clark tho road. HI.e couFf
took the plan and auHEeatIon1 mAao
az tho hearing under a&yisemnnl.
Tho plan presented today al'eNA NlIr
ltn January 4. 1919. FOR rhe ceunlete
dissolution Of the ceutn'1aRioN aff1
Judged illegal BY tho sNpf4ue eoffR.
All pregsuun plane are N'1NfFfHopN ~
thla latest one. which nfApoqea fn&4
the Union paclnc shall n&ekaa#o f&tls
4 oed .08o ~ ~ 9a4a .uQe q ee he|tIle IA
the southern paci1o f0f tne Fonn4YIN
vanla entire holdings IN tho HaIilwof3
land Ohi0---viFntally an equal amqNNf
l-and that lhe Eomalnins e1a.o0'e1Q
shall be sold ID the general Du1h@
through q truat company,
No present atockhniaeSs IN ma
Union pacifc continuing ~ ouehmay
buy eny of the Union panlfn stock -
sold and each purchase wsil - OBJ
liaed 10 make afIldavlt thai ne lp not
acting in concert or agreement with
anyone elsa buylnR Goaltorn Eaclue
T. secure q new control Tor me unie@
Pacific.
Tho transaction wiz boRin On Me-
vember I, 1918 and n not oomplele ~
january /. 1918. tlse court viii airect
"A, disposition Of any Southern Haos
inc stock remaining uniakeus
The court viii be asked before ap.
proving the plan. 20 allow time tor
anyone, whether an ineef3at@4 party
. or not 10 lnterpose oblectlona.
II The government expressly aiip4iafa@
! that should any illegal conditlpNe 4fiaa
from tha exchange of Fenn47l lsAnAN
and Baitlnore and Onto stock either
under existing law or futufo it~i4lAf
~ lion, or future Interpretation ~ tnp
J. courts OF present strtutes. the xutetnr
/. ment would have tho fiRht Freely -
' assasl' lno arranEemout.
NJ Attorney General hfcHeypoiu#
! lrlatoaant ts the court. tr9ricc Etfer
Il lcablnet discussion and conferences
4 with President Wilson. commentt On
q the exchange cf Penpsyisnnsa ana
Baltimore ana ohio atcrk, ana points
out that AZ present ne federal Law
gorbids one railroad company from
. owning stock IN another non-nona.
potltlyo line. but that ~ inteFpFeie'
ton hy the courts a different meanin.
may hereafter be given 20 pfeaan'
statutes or new legislation cotofinI
that point may be- enacted,
ON the other hand. the pfealuen'
and his advisers feel tnaf there - np'
parentiy no legal obieciion now e
the proposal Of the rat'foAfis unoF'
what administration oliietHlg EoEard =
imperfect federal law. Tho adfanf
ages Of tho plan In the view % tr
president are that Il breaks up ~
N actual threatened monupolicn and q
~ the mn,c time fulnlls the PURPOSES
AZ the governments present suit anains
tho Hartman mersor. The pteAlden
In and the attorney gcneraa believe NOR
over. that tho federal authorities tf
lett free. under the plen, 20 act a
they deem right againes any narmtu
~ or Illegal consequences not noN iofs
h. seen.
n. Here II the attorney EanerafA STATE
of mont In fuli % ~ presented to "
A. court,
a. The proposed sale 10 the Fenuu,
~ vanla railroad. Of 3s3.e3t snafe
(SsR, ,29a.a aO0) Of the capital stock
- tho southern Pacific compang no.
10 owned o. controlled 0y the pu'o
.ol pnclfe Railroad company toein9 aopt
he Ia Der cent of the total capital Fipf
~ of the southern FaclHe in tho Nnlo
he paoiac) III exchange sor t1s,tl
he shares (tfs.SfI.90ol ol The ceplN
stock of the Baltimore and QniQ fA'
he road now owned by cine RpnnHl4nn
lnr railroad tboinR ail % aaen elqrN Ht'
~ by the latter and eooi ppt cHni et n
re entire share of the Haltmptt 4l
VA Ohio companyl obviously Epf4 ftr
.te. separate tho 80nlheIn Pacific IIpM y
ids Union Pacific and a max t@
~. 4s..t.a -. tHa t.t4I..|.# ...I..