The Courier News from Blytheville, Arkansas on May 16, 1950 · Page 7
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The Courier News from Blytheville, Arkansas · Page 7

Blytheville, Arkansas
Issue Date:
Tuesday, May 16, 1950
Page 7
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Page 7 article text (OCR)

TUESDAY, MAY<1«, 1950 BLYTHEVTLT.E (ARK.V COURIER NEWS Mo-PacShakeUp Plan Is Proposed Provision Included To Give Value to 'Valueless' Stock WASHINGTON, May 16. f/T}—A proposed new plan for reorganization of the giant Missouri Pacific Railroad Co. was outlined, yesterday for the Senate Commer'ece Com- jjnUtee. tr It includes a provision for giving a value to the present Missouri Pacific common stock, which the Interstate Commerce Commission has twice declared to bu valueless. The proposed new plan was offered by John Speed Elliott of Charlottesville. Va., who holds a substantial block of M. P. 5M per cent serial bonds, which are a recognized claim to the reorganization proceedings. Concession Hinted la testimony prepared for the Senate committee, Elliott said he is willing to make concessions on the collateral pledged to the bonds which he holds, and that he will attempt to get other bond holders to make a similar concession In the interest of winding up the rail- ; road's 11-year-old bankruptcy. Elliott said he believes that If a reorganization plan can be perfected to give some satisfaction to all of the company's present security holders, the reorganization proceedings begun In 1933 can be finally completed In six to nine months. 6 Year Litigation? Unless such a plan is adopted, he predicted, litigation will tie up the case for another three to six years. Elliott said his plan was advanced to meet all of the major objections to the ICC plans which have been in the courts for the last several years. AJso, he asserted that j^ftat he projected coulc" be ac- ctmplished within $615,000,000 capitalization which the ICC has SHU* it will approve for the new company. Instead of wiping out the present common stock, Elliott suggested that the present common stockholders should b c qlven special lights to subscribe to thn proposed $50 par value Missouri Pacific common stock at $10 per share, at the rate of one half share in the new company for each share of old common. He said the present preferred stockholders should have the same subscription rights on an even share-for-share basis. The latest ICC plan, while eliminating the common stock, provided that the present preferred could! be exchanged (or new preferred on a basts of three new shares for each ceven old shares outstanding. Training ior G/'s WfOKYO, May 16. (/P) — A three months training period In amphibious warfare for United States forces got- underway at nearby FIRST AID-AND PLENTY OF IT!—Hal "Gildcrslecve" Peary looks as if the first aid he got from Los Angeles Boy Scouts In celebration of National First Aid Week might be his last The Boy Scouts arc. loft tc right. Billy Bernal, Arthur Frcilich, Warren Stevenson and Darry] Kraus. Solon Says Reds Can't A-Bomb U.S. WASHINGTON, May 16. </P)— Hep: Elstou (R-Ohio) said yesterday le doesn't believe Russia ever will be able to launch a mass atomic attack on the United States. Alston is a member of the Senate- House Atomic Energy Committee. He sairt he doesn't believe either the Soviet union or this country would be eager to drop the first A-ljomb in event of war. An atomic attack on the United States would a suicide mission, he said, and the Russians know it. If the Russians thought th'rv could win a quick war in a matter of days by sending wave after wave of planes at us with atom bombs in a sneak attack, I have no doubt they would do so." he told a reporter. "But I don't believe Russia is, or ever %ill be, prepared to deliver Camp McOill yesterday. All branches of the armed services are participating. a substantial load o; atom bombs on 'argots in this country at one time." Great to relieve • 'PERIODIC' u~'< PA/NS Kelps Build Up Rcslstun *J Against Theml Do functional monthly ailments make you suffer from pains at such times? And do you start suffering a few days before your period from n ervous, strangely restless, weak,dragging feelings—due to this caase? Then start taking Lydta E. PInkham's Vegetable Compound to relieve such symptoms. Finkham's Compound DOES MOHE than relieve this monthly pain. it'aLso relieves accompanying nervous, tense emotions of this nature. Regular us« helps build up resistance against such female distress. The woman's friend! LYDIA E. PINKHAM'S Our Telephone Number 4438 Shelton Motor Co. You'll Love Our Flowers! •LYTKBVILLE FLOWER MART Memphis Hlwa? Phone «X» ^%^«£*« WATER is your Cheapest Commodity - - - Use it FREELY! BlythGville Water Co. Blytheville, Ark. Gabardine... IS ALWAYS THE MOST POPULAR FOR Graduation Only Hudson Offers You This Luxurious Silky-Smoofh Suit Fabric at Such an Unbelievably Low Price Your Choice of BLUES GRAYS GREENS BROWNS TANS Hudson Guarantees Your Perfect Fit In Complete Sizes From 32 to 50 The Little Store Wi tfj the Big Business HUDSON CLEANER - CLOTHIER - TAILOR Blytheville, Arkansas Steele, Missouri

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