Show ATTORNEY GENERAL WICKERSHAM REFUSES TO TOI I APPROVE UNION ONION PACIFIC'S DISSOLUTION PLAN NEW XE YORK oni Dec 10 Robert Robert S. S Lovett chairman of tho the executive committee committee com corn of orthe tho Union and Southern Pacific railroads announced late yesterday that he ho had J arranged with Attorney General to appeal at on once e to the United States supreme court for Instructions Instructions instructions In working out the dissolution plan of oC tho th railroads Mr the announcement continued had refused to approve e any plan Involving tie tho distribution of or Southern Southern South South- ern ern Pacific stock owned by tho the Union Pacific In support nf of hIs contention that Southern Pacific stock ho ha distributed among PJ Pacific Lovett Lo cites tho the Northern Securities 5 case and the cases casi of or the Standard Oil and American Tobacco companies These he lie asserts are fundamentally comparable ble with the tho Union Southern Pacific Pacific Pa Pa- dissolution Lovetts Lovett's Statement The unusual course adopted by the thO HarrIman officials Is la taken In tho Interests Interests Inter Inter- ests of or all nil parties partie Judge o Lovett Lo says ays and In the that tho decree creo of or the court may mav he ho facilitated Judge Lovetts Lovett's statement follows Immediately Immediate after afler tho the decision of the supreme court In the tho cast case In Involving in- in the dissolution of the Union Pacific and Southern Pacific the board of or directors appointed a special spa spa- cial rial committee composed of or R. R S. S Ix Lovett JAvett vett 3 M. M C. C I L. L and 1 Frank ranle A. A to work worle out and submit a aplan plan alan for promptly and fully carrying carryInG carrying carry carry- ing out and conforming to the decision deci dei- sion ston of the court and the tho matter wa waat at once taken up op with the government govern overn- ment Tho The attorney general of or tho the United States had refused to tn approve any plan Involving In the distribution of or orth tho th par Car ar value of or stock of the Southern Pacific owned b bv tho Union Pacific railroad company compan ex exclusively ox- ox x- x ely elusively to the stockholders of the tho latter In T to their holdings whether bv by sale al dividend or oth otherwise other other- r- r wis wise and has declared that hn hi would appeal In tho the event ent the dl district court should approve e pro uro ro rata distribution Claims Eights Rights wV Wd find nothing In th the opinion of oC the in tn this case to warrant this the government In denying to stockholders of Union Pacific the rights enjoyed by Stockholders of every en other otiler corporation that has been required to dispose of stock licit held contrary con con- to the Sherman ShArmon act where whore a aTro apro pro Tro r rata ta distribution was practicable as It i Is In tn this thI case ca Ill III the Northern Securities s case caso every stockholder of or the Northern Se- Se company received r both Northern North North- orth- orth em ern Pacific and Great Northern stock In proportion to o their thir holdings of ot n Nort Securities stocks and this distribution was specifically ap tn- tn proved by hy th the supreme court In the tha S Standard Oil company case caE the decree do de cr cree CC C which was i hy by the su flu flu- premo promo c court 1 urt provided ro for fin n pro rata distribution among th the tho l' l stockholders of ot the Standard Oil company Tobacco Case In the tobacco C case CiC iC an nn unqualified I distribution was Impracticable be because be- be cause causo of complication tion arising from outstanding mortgages changes In plants etc and a 3 division of or the properties s by b- th the American Tobacco company In proportion to their holdIn hold- hold In lags Ings In the powder case a plan of or disSolution dissolutIon dis dis- solution was accepted b by tho the at attorney attorney at- at torney general which Involved a pro rata distribution to tho the stockholders of at the principal company As tho the mandate of at f the fhe supreme court has not yet et been Is Issued we have havo arranged with tho the attorney general general general gen gen- eral for tor the tho presentation of or tho the matter mattor mat mat- ter tor immediately to the supreme court by motion for Instructions to tho dis dis- triot court In sending sending- down the mandate mandate man man- date to that court Wo We regard tho the right of the Union Pacific stockholders ers Involved as so o fundamental that we feel fecI compelled to carry tho the matter to the court |