Salt Lake Telegram | 1921-05-25 | Page 1 | Clark and Partners Sell

I I lARK A APA AND PA t SELLi Ll t Purchase of Stock and Bonds Completes the Transfer of Property in Deal Already Begun NEW NEWYORK w LORI ORt May 23 The 2 The Union n ni i Pacific railroad today acquired full ownership of of the L Los s Angeles ng les 8 Si- Si Salt Sit t Lake Railroad company by purchase of ot of stock and bonds held by former United States Senator William A. A Clark of Montana and his associates The Union Pacific previous to the purchase announced officially today by both parties in hi the transaction owned ned one half of the securities atthe of at the Los Angeles Salt Lake Railroad company The transfer of ownership affected of 4 per cent bonds of the Los Angeles C Salt SaIt Lake Railroad company for which the Union Pacific exchanged other securities dollar for dollar These Included of Southern San Pacific-San Francisco Terminal Terminal Terminal Ter Ter- minal 4 per cent bonds of Southern Paci Pacific lc first refunding 4 per percent percent cent bonds and of Oregon- Oregon Washington Railroad and Navigation company first and refunding 4 per cent bonds The Union Pacific's statement de declared declared declared de- de the transfer assured the permanency permanency permanency per per- per per- of the position of Its system in southern California with its rails raUs in Los Angeles and the Pacific ocean at San Pedro harbor The logical and natural destiny of Los Angeles Salt Lake railroad the statement said ultimately as a railroad property is as a part of the Union Pacific system and appreciation tion of this was supposed to to have led to the sale by the Clark interests