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Show L A. 8 S. L ROBIE ACQUIRED BY U. P. CX-8ENATOR CLARK AND A8SO- CIATE8 TRANFER STOCKS AND BONDS TO NEW OWNERS Permanency of I 1 Now Awuerd; 929,000,000 Is Price Paid for by Purchasing Company for Western Road New York.-Tho Union Pacific railroad rail-road Wednesday ucqulr'cd full ownership owner-ship of the Los Angles Ac Salt Lako Itallroud company by purchase of stock anil bonds held by former United States Senator William A. Clark of Montana and his associates. The Union Pacific previous to tho purchase, announced officially Wednesday Wednes-day by both parties In the trautnctlou, owned onc-hnlf of the securities of tho Los Angeles & Salt Lake ltullrqiid Co. The tranfer of ownership affected 20,000,000 of 4 per cent bonds of tho Los Angeles & Snlt Luke Itullroad Co. for which tho Union Pacific exchanged oilier securities dollar' for dollar. Thwe Included $0,000,000 of Southern Pacific-San Francisco Terminal 4 per cent bonds ; $8,r00,000 of Southern Pacific Pa-cific first refunding 4 per cent bonds ntiil $14,500,000 of Oregon-Washington Ilnllroad and Navigation company first nnd refunding 4 per cent bonds. The Union Pacific statement declared declar-ed the tranfer assured tho pormnnoney of the position of Its system In southern south-ern Cnllfoniin, with Its rails In Los Angeles nnd tho Pacific ocean at San Pedro harbor. The logical and natural destiny of Los Angeles Sc Snlt Lake railroad, the stotement snld, ultimately as a railroad rail-road property Is ns a part of tho Union Pacific system nnd nppreclntlon of thl wns supposed to have led to tho sale by tho Clark Interests. |