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Show GIANT REFUNDING PLAN FOR SOUTHERN PACIFIC Intricate Problem . Undertaken Under-taken of Unifying Enormous Enor-mous Debt and Harmonizing Har-monizing Interests. - NEW YORK, March 10. Bankers who have assumed the financial guar ; $368,513,419 DEBT TO BE COVERED BY A " REFUNDING SCHEME. . SThe frame Upon which the great plan will hang; will be a general re- funding mortgage. The amount will 0 depend wholly upon how much of 0 the debt of the system, which ag- 0 are (rates t3S, 613,413, can be Included in any refunding mortgage, how- 0 ever broad In its scope. 0 out the plan of harmonising' and unifying unify-ing the system without coming Into conflict con-flict with State laws. It Is on account "of the differences presented by this complicated situation that the work has been started well in advance of the time for Its Inauguration Inaugura-tion ' dlanshlp of the Harrlman railroad system sys-tem have taken up for serious consld- j eratlon the intricate problem of unifying unify-ing the funded debt of the Southern Pacific Pa-cific system. The work of constructing a refunding mortgage estimated at between 2200,-000,000 2200,-000,000 and (300,000,000 has been taken up in detail for the first time, but it is not expected that the plan will be completed com-pleted for several months. - Those Who have undertaken the solution solu-tion of the problem . believe it can be I reached, without altering the character l ot the Southern Pacific's holding of any of its properties or originating any I new device for welding together the . debts of the constituent companies. I Debts of some properties which , should be Included in the refunding scheme are held by ownership stock. Others are held by lease. Some of the operating companies are owned by other operating companies, and some are held I directly by the Southern' Pacific coro-I coro-I pany, which is a Kentucky corporation. It is difficult in some Instances to carry |