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Show PACKERSPLAN ItyfiE IFiliEfi representatives of two cor. porations present pro position to Wallace Consolidation Would Bo Effected by Purchase of Morrlo Company by Armour. Fifty Million Dollars Involved Washington. A proposal involvlnp consolidation of tho huge packing interests in-terests of Armour und company nnd Morris and company, two of tho "big flvo" packers, was presented to government gov-ernment officials for federal approval under tho packers act and Sherman anti-trust law. Representatives of tho two concerns con-cerns headed by J. Ogdon Armour, multi-mllllonulro head of Armour and company, conferred with Secretary 01 Agriculture Wnllnco for nn hour. Tin consolidation would bo affected by the purchaso of tho Morris company by the Armour intorests, it was learnod Tho financial Intorests Involved would total $50,000,000 It wbb snld. Tho plans for consolidating tho two grent packing concerns according to rollablo Information nru. in a tentative stage and will bo loft open for fur-thcr fur-thcr negotiation. Tho proposal as sub mlttod to Socrotury of Agrlculturi Wallace probably will bo amendod tu moot such objections ns might In-raised In-raised by government officials undoi powers vestod in thorn by tho packers pack-ers net and the Shorman law. Tho confcrcnco lasted moro than an hour. Later it was learnod" the proposal pro-posal would nlso bo presented to Attorney At-torney General Dnugliorty. Boforo tho consolidation would be effoctlvo it wns Bnid tho ileal would hnvo to bo oiriclnlly approved by thi dopnrtmont of Jtistlco und tho department depart-ment of agriculture Following tho conforonco, Socrotnry Wallaco said that tho proposed ilea' was "too important to bo discusser until its dotalls wore thoroughh studied." Tho Bocrotnry onid howevor, thai ono phaso of it would have to bo passed pass-ed upon by tho dopnrtmont of agriculture." agri-culture." "Ono phaso or tho proposod negotiations nego-tiations comes undor tho puckors' net, and tho department of agriculture would havo authority to pass upon Jr.' said Wallaco. . "This phaso probably would come undor tho powers trims ferrod to this dopnrtmont from tin-fedoral tin-fedoral trado commission. Tho negotiations nego-tiations nlso would havo to bo passed upon by tho department of Justice un. der tho Shorman act." |