Arizona republican., 1913-06-28
Forcgocs Weeks Trip to New Hampshire in Effort to Prevent Appointment of Receiver fol. the Big Railroads
HAVE ONLY TO
 FIRST OF MONTH
Supreme Effort is Being Made by the Executive and Attorney General to Prevent Drastic Proceed ing in Merger Case
IAssoc-A-rn rHrss DIsrA-cH1

ASSfHt-r ATF1 PRESS DISPATCH
 WASHI\GTON. June 2--The pres ident brushed aside today all his plans f.r the weeks trip to Cornish. New Iami shire. the summer apital. to eX- mine imem6i1telE the tentative agree llent between Attorney General Me Reynolds and the railroad attorneys T1r th- diesolution If the Union Pa o.fic merger to prevent if possible the appointment of a receiver Unless the m-thod of dismembering the Union Pa cific and the southern Pacific is satis- ttctorr tu the judges of the United States court for the eighth circuit and submitted by Juh I, the United States supreme court has ordered the disso- lurjou of the merger by government re- eeiN-rship
 Supreme effort is being made by the president and the attorney general to prevent this drastic alternative by an a greement on plan meeting the de- lland~ of tine sherman antitrust law and rhe mandate of the supreme court officials freely predicted tonight that the government and the railroad will present an agreed plan to the court within the time limit although it is stated the goHvrument's approval will -n am prpbability be qualified Tn sub
 
 posed to ask the judges to give a limit ed time before entering the final de- cree within which objections are dis played iu light Of further study of the propositions that may be fled by the government or any other parties inter e~ted IL is understood the agreement incorporate as one step in the disso- iHtion the previously proposed plan r.r transferring of 38.Q0O.O OO0 Southern Pacific stock held by the Union Pa cific to the PcnnsylVania railroad in exchange for the latters holdings of k. X O.
 Attorney General McReynolds ob- 5-Cted to the trusteeship previously proposed by the railroad in the federal court at St. Paul on the ground that it was too vague and not a guarantee that the Union Pacific would surrender the ownership of the Southern Pacific within q reasonable time. These ob- iects have been overcome by a more definite outline of a plan for the dispo- sition of the stock.
 The exchange between the Union Pa cific and the Pennsylvania will result. according to estimates in giving the Union Pacific with it's present holdings in the Baltimore and Ohio 382 per cent CT the bulNtdnOlnS StOCk or that com pany and in giving the Pennsylvania 1T per cent of the stock of the Southern Pacific So important is the situation regarded that the proposed plan for dissolution was considered at a cabf- net meeting today The president planned to leave the city at 5:35 P NJ but after studying the intricate ques- tion all the afternoon decided it would be ineXpedient for him to take the plan away with him for examination on the train to New Hampshire. as he Lad proposed, but he should remain in Washington for further conference with the attorney geenraI.
 Paul Cravath counsel for the Union Pacific held long conference with the attorney general this afternoon al- though he planned to return to New York he determined after tOdaV'S de velopments to remain here until the question is settled. The president sus- pended the consideration of the raii- Way problem long enough to motor to the station to say good bye to Mrs Wilson and his youngest daughter Miss Eleanor who left for New Hamp- shire on schedule time. While it is doubtful when the president will join his family at Cornish he said he ex- pected to get away early next week