Show U VI Tn I I ti tJ I I 1 H OL llAN LADS Supreme Court Gives a Decision Involving Acres Held by bythe bythe bythe the Southern Pacific PacificA I y A WASHINGTON WASHINGTON Nov 17 VV v The government by an opinion today in ill in the supreme court won its fight to have canceled canceled can can- patents for acres of California California oil land valued at alleg alleged d to have been obtained through fraud by the Southern Pacific compan company com com- pan pany In disposing of ot the case the supreme court reversed federal court decrees dismissing proceedings instituted by bythe bythe bythe the government to ha have ye the land which is located within naval oil reserve No 1 returned to the government The government charged that the company compan at the time th the patents were issued in 1904 under a railroad land grant which reserved mineral lands knew the lands to be valuable for oil although it filed alleged false affidavits I Ito to the contrary The federal district court held that while there had been no actual discovery discovery discovery dis dis- covery of ot oil on the land surrounding conditions clearly indicated that it was valuable for oil and the circuit court of appeals which reversed this opinion is now In turn reversed by the supreme supreme su- su preme court I STOCK MARKET AFFECTED NEW YORK Nov 17 The The stock market was subjected to another sharp break at noon today Heavy selling was precipitated by announcement that thai the United States supreme court had decided against the Southern Pacific company In the suit involving acres o of valuable oil lands in California Cali Call I fornia Southern Pacific broke broke- on extensive i sales from to In less than I ten minutes The stock closed dosed last week at Union Pacific which had been almost al almost almost al- al most the only strong feature o the morning relinquished a large part of oC Its point five advance The entire list broke with Southern Pacific although some stocks held over th their lr extreme losses of the morning when steels oils motors and equipments equipments equip equip- ments were 3 to 15 points under last weeks week's final quotations |