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Show PRESIDENT APPROVES PUN -FOR MERGER DISSOLUTION Receivership for Union Pacific Avoided Avoid-ed by Agreement to Dispose of Southern Pacific Stock. Washington. President Wilson on Saturday approved tbe plan formed by Attorney General McReynolds and the railroad attorney for tbe dissolution dissolu-tion of the Union Pacific merger under un-der the Sherman anti-trust law, as directed di-rected by the supreme court of the United States, so as to avoid a receivership re-ceivership for the great combination. This latest attempt of the many made to dismember the combination provides for the disposition of the entire en-tire 1126.650,000 of Southern Pacific stock held by the Union Pacific. While do official announcement baa been made, it la understood the plan, a one step, provides for the exchange of $38,292,400 of Southern Pacific stock for the Pennsylvania's holdings In tbe Baltimore ft Ohio, which are jrppra?mfcly of tbe same value. 'The remaining $38,337,600 of Southern Pacific Pa-cific will be disfranchised and placed in the bands of a trust company as trustee, and against this stock will be issued certificate's, with no voting power, to shareholders of tbe Union Pacific. |