The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1913-06-28
Washington and the Rail
road About Decided on
Proposition Bearing Quail
iflcation McReynolds
Can Object if Further
Study Presages Defeat
WILSON ANXIOUS TO
HALT RECEIVERSHIP
President Delays Vacation
in Summer Capital to Go
Over the Deal With Attor-
ney General-S88, 100000
Stock Is Likely to Be
Sold by Trust Company

WASHINGTON, June 27-President
Wilson brushed aside late today all
plans for weeks trip to Cornish.
N H. the summer capital, to examine
Immediately the tentative agreement
reached between Attorney General Me-
Reynolds and the railroad attorneys for
the dissolution OF the Union Pacific
merger to prevent If possible, the ap
pointment of a receiver.
A supreme effort is being made by
the President and Attorney General TO
prevent this drastic alternative by an
agreement on plan meeting the de-
mands OF the Sherman antitrust law
and the mandate of the supreme court.
oncials freely predicted tonight that
the government and the railroad would
present an agreed plan to the court
within the time limit. although it was
stated that the governments approval
in all probability would be qualified.
In submitting the plan to the court
it is proposed TO ask the judges to
give a limited time before entering
final decree within which objections
displayed in the light of further study
of the propositions may be filed by
the government or any Of the other
parties interested.
STOCK TO TRUST COMPANY
1t is understood that the agreement
will incorporate. as one step in the
dissolution. the previously proposed
plan for transferring s3s,ooo.oo0 of
Southern Pacific stock held by the
Union Pacific to the Pennsylvania rail-
road in exchange for the latter's hold
ings of Baltimore and Ohio. The re-
naming sss.oo0. 900 OF the total s126.-
100000 of Southern Pacific owned by
the Union Pacific it is said viii be
placed in the hands OF trust company
TO be sold within a definite period
and in such manner as to insure that
no substantial proportion of the stock
will be sold to the share holders of the
Union Pacific
Attorney General McReynolds OBJ
jected to the trusteeship previously
proposed by the railroad to the federal
court in St. Paul on the ground that
it was too vague and did not guaran-
tee that the Union Pacific would sur
render its ownership of Southern Pa
cihc within a reasonable time. These
objects have been overcome by a more
definite outline of a plan for the dis
position of the stock
So important was the situation re-
garded that the proposed plan Of dis
solution was considered at the cabinet
meeting today The president had
planned to leave the city at 5:35 p. M,
but. after studying the intricate ques
tion all afternoon, decided that it would
be inexpedient for him to take the plan
2 way with him for examination on the
train to New Hampshire, as he had pro-
posed. but that he should remain in
Washington for further conferences
with tho attorney general
WILSON TO GO NEXT WEEK
Paul Crayath, counsel for the Union
Pacific. held a long conference with
the attorney general this afternoon.
and, although he had planned to re-
turn to New York tonight, he decided
after todayts developments to remain
here until the question is settled
While it is doubtful when the presi-
dent win join his family in Cornish.
ne said he expected to get away early
next week.