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Show PACKERS PLAN HUGE MERGER REPRESENTATIVES OF TWO CORPORATIONS COR-PORATIONS PRESENT PROPOSITION PRO-POSITION TO WALLACE Consolidation Would Be Effected by Purchase of Morris Company by Armour. Fifty Million Dollars Involved Washington. A proposal Involving consolidation of the huge packing interests in-terests of Armour and company and Morris and company, two of the "big five" packers, was presented to government gov-ernment officials for federal approval under the packers act and Sherman antl-truBt law. Representatives of the two concerns con-cerns headed by J. Ogden Armour, multi-millionaire head of Armour and company, conferred with Secretary oi Agriculture Wallace for an hour. Thc-conoolldatlon Thc-conoolldatlon would be effected by the purchase of the Morris company by the Armour Interests, it was learned The financial Interests Involved would total $30,000,000 it was said. The plans for consolidating the two great packing concerns according to reliable information are in a tentative stage and will be left open for further fur-ther negotiation. The proposal as sub mitted to Secretary of Agriculture Wallace probably will be amended to meet such objections as might be raised by government officials under powers vested In them by the packers pack-ers act and the Sherman law. The conference lasted more than an hour. Later it was learned the proposal pro-posal would also be presented to Attorney At-torney General Daugherty. Before the consolidation would be effective It was said the deal would have to be officially approved by the department of justice and the department depart-ment of agriculture. Following the conference, Secretary Wallace said that the proposed deal was "too important to be discussed until its details were thoroughly studied." The secretary said however, thai one phase of it would have to be passed pass-ed upon by the department of agriculture." agri-culture." "One phase of the proposed negotiations nego-tiations comes under the packers' act, and the department of agriculture would have authority to pass upon It.' said Wallace. "This phase probably would come under the powers trans ferred to this department from the federal trade commission. The negotiations nego-tiations also would have to be passed upon by the department of justice under un-der the Sherman act." |