The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-27
DELAY APPROVAL OF
PACKERS NEW PLAN
Palmer Says 1t Must Leave
Government Free to Act
Just as Before.
TRUSTEES ARE PROPOSED
Board Named by Court for
New Owners Would Oper-
ate Stock Yards.
TRUSTEES ARE PROPOSED
Special Despatch TO THE New YORK HERALD
New York Herald Bureau.
Washington, ID. c., Oct. 20.

Special Despatch TO THE New YORK HERALD.
New York Herald Bureau.
Washington, ID. c., Oct. 20.
The Department of Justice is not
ready to accept without further reserva-
lions the stock yards dissolution plan
filed by the packers In the Supreme
Court of the District of Columbia to-
day. In statement tonight the At
torney- General outlined the depart
ment's position as follows:
'On the 31st of August last the
packers filed a plan for the disposition
of their interests in the stock yards to
which the Department of Justice filed
objections. That plan was so thorough
ly Objectionable that the packers have
now Withdrawn it.
1.-THE new plan filed to-day, we take
II, was designed to remove the principal
objection urged by the department
against the first plan.
This new plan has been in our hands
but three days and we have therefore
not had sufficient time to study 1t thor
oughly.
"The underlying basis of 1t seems to
be that the control OF the principal
stockyards, now in the hands of the
packers, is to be lodged for a period of
twenty years in the hands of five trus-
tees TO be appointed by this court 1t
part forever with all ownership of
stockyards and that the cattle producers
arc to have the first opportunity to buy
the stock of the corporation that Will
take over the packers interests in the
Yards In these respects 1t would seem
to be a distinct improvement over the
first plan.
'aThe Government will ask for a few
days In which to study this plan care
fully and will then either give It's ap-
prevail or point out objections II there
he any. As it is the Government de-
sires to state that neither this nor any
other plan will be approved by the court
-yithout providing in the decree by
which the plan will be approved In sub
stance as follows:
al. That the courts approval of a
plan shall IN no way Interfere with the
enactment of any legislation by Congress
which may deal with the stockyGrus ana
their operation.
"2. That nothing contained In this
plan or any other plan that may be
finally approved shall be construed as
modification or amendment of the pro-
visions of the decree entered in TINS
case.
"s. That the packers shall dispose OF
all securities that they may. with the
approval of the court take in part pay
within a reasonable time, to be deslg-
mated by the court.
-. That II this plan be approved the
decree approving the same shall pre-
scribe the rights and duties of the trus-
tees and shall give the trustees the right
20 hear all complaints by packers or
shippers or producers concerning the
management of the stockyards ana
shall, either upon their own initiative or
as a result of such complaints, correct
any practices in the yards which may
tend to restrain commerce or free COM
petition in the cards. They shall have
the right to denounce all arrangements
for the operation of any yards wherein
tho packers, or any of them. may seek
TO regain control over such yards and In
the discharge of their duties the trustees
shall have the right at any time to re-
move any director. officer, executive
head or employee of any corporation
owning or operating any of the stock
wards under the control of said trustees.
''The court has granted us until the
eighth day of November to file our OBJ
tections. hearing on these Will be
lad on November 16."