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Show Confirms the Report Philadelphia. June 12. Pennsylvania Pennsyl-vania railroad officials confirmed the statement that an arrangement had heen entered into for the exchange of the company s holdings of Baltimore and Ohio railroad stock for $38,000.-000 $38,000.-000 worth of the Southern Pacific stock owned b;. Union Pacific. Ii wan, stated that the exchange, if approved by tho court, would be made on the; basis of the relative market value Ol Baltimore and Ohio and Southern Pacific stock. It was stated tint the Pennsylvania ha9 no interest In ihe management of the Southern Pacific and that the arrangement Is purely a business one I designed to prevent the throwing on the market of such an Immense block of Southern Pacifc stock. It was stated that the Pennsylvania has no Interest In the mauagenieut of the Southern Pacific and that tho arrangement is purely a lmslne-ss one I designed to prevent the throwing on the market of such an immense block I of Southern Pacific stuck no |