Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-10-26
BY Associated Press.


and Armour & Co. filed today in the
District Of Columbia supreme court
new plan for disposing of their in
terests In stockyards, terminal rail-
roads and market newspapers. 1t was
understood that Wilson & Co. would
adhere to this plan. but Morris q
Co. and the Cudahy Company were
not parties to it.
Justice Stafford set Nov. 8 as the
final date for the department OF JUS
tice to file objections to the new pro-
posal. but Isidor Kressel. special as
sistant to the attorney general, init
mated that the department would file
no objections II the courts order
putting the plan into effect provided
that the proposal did not conflict
with existing legislation.
Morris & Co. and the Cudhay Com
pany were given until Nov. 16 to ne
gotiate for their inclusion in the new
plan to find some other purchaser for
the stockyards interests Of these
concerns acceptable to the court.
Prince e Co. Still In.
Under the new plan f. H. Prince &
Co.. Boston bankers. will organize
the United Stockyards, Incorporated,
under the laws Of the state of Maine.
to acquire part or all of the shares
Of the stockyards and market news
paper companies from which the two
big packers must sepatate them
selves under the consent decree re-
Gently filed in the court under agree
ment with the department of justice.
The United Stockyards, Incorpo-
rated, will be capitalized by issues of
first preferred shares, second pre.
ferred shares >end common shares of
stock and by notes. Live stock grow
ers and commission men are to be
given preference in the purchase of
the shares Of the new company. but
the common shares alone will have
voting power. Under the plan the
common shares will be issued TO, or
transferred to, five voting trustees.
TO be appointed by the supreme court
OF the District Of Columbia,+ - TO
hold under voting trust for twenty
years."
Ihe voting trust will be given an
thor1ty to enforce the conditions of
the lease and operating agreements
provided for in the plan. The nro.
posal of F. H. Prince e. Co is +ba+
the companies whose shares are ac-
quired by the United Stockyards. In
corporated, altho managed locally as
far as possible, will be operated rnder
leases to, and operating agreements
with. the Chicago Stockyards Com.
pany for a period Of twenty years.
The voting trustees are given the
right by the agreement "to correct
any practices which, in their opinion.
are inconsistent with the terms of the
leases and operating agreements
either on their own initiativei or on
the complaint Of a, producer or ship
per-"
Just New Name,
To assist in financing the limited
Stockyards, Incorporated, and in ac-
quiring the shares of the stockya rd
companies, F. H. Prince G. Co. nro-
poses to organize syndicate with a
paid-in capital of not less than ST.
100000, which will acquire all of the
common stock of the United Stock
yards, Incorporated, and such amount
Of preferred stock and notes as NAV
be necessary to carry out the plan.
paying therefor by the transfer Of
shares Of the companies to be ac-
quired.
The plan sets forth that the syndi-
cate will offer to purchase common
shares of the stockyards companies
and the preferred shares Of the Sioux
City Stockyards Company paying
therefor the following prices:
st. Paul Union Stockyards Com
pany, 800 a share.
Union Stockyards Company OF
Omaha, Ltd $110 a share.
st. Louis National Stockyards,
$110 share.
ST. Joseph Stockyards Company
$105 share.
The Denver Union Stockyards
Company, $50 share.
Fort Worth Stockyards COMPANY,
500 q share.
The Sioux City Stockyards Com
pany preferred, $50 share; common,