Show US c S C CO COAn COAll An All Agreement flit Tor Its It Mas Keen New York Jan 12 An agreement on for the reorganization of or the United States Shipbuilding company and LillI the abandonment of ot trio 1110 Sheldon reorganization plan It Ills Is understood on good authority has been cached between Smith of o thu company M 1 Schwab and numbers of the Sheldon Hh hlll syndicate but bUI buthis Ihl his plan pion la III uld to 10 bo he acceptable nei lIel neither ther to the committee nor 1101 to IU the tho Commonwealth Trust company and the litigation Is IH to continue unless the th still conces concessions Tho plan lH H outlined l tentatively pro IHO for 01 tho retention of or control by b Mr Schwab giving him pre erred and common out of oC n II nota ota of oC approximately 30 1 stock of or tho th reorganized company compall th re rl preferred common corn mOil going to thu other Interests the Mr Ir its hiM contention his mortgage on tho th plant should be given prior prIorI I ty over tho bonds on he tho entire shipbuilding company prop rt this ono oUO of or the of he Sheldon plan |