The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-07-14
SAYS ITS not A TRUST.
The Standard OIL Compnh,'s Answer In tho
Suit to Revoke Its Charter.

| cuAs W Ahcpohe NuhTttT.
COLUMBUS, July l3.-M. r. Keith ant
Virgil ?. Kline, attorneys for the Stand
ard Oil Company, yesterday evening
filed In the Supreme Court the answer
OF the company In tho suit brought b,
Attorney General Watson to revoke its
charter. Tho answer admits only the
allegations as to the organization Of tho
company, It's purposes and subsequent
increase In the capital stock, and denies
all other averments In the petition.
The company makes direct and posi-.
tive denial OF the allegation contained
in the petition Of the Attorney General
to the effect that the defendant January
=, 1882, became party to tho trust agree.
men,. The company has not, says the
answer, through its officers, directors or
Stockholders, become party to tho
trust agreement, nor has It carried out,
observed or performed the obligations
imposed by such agreement, and did not
become n party to u supplemental trust
agreement, as alleged in the petition.
DENIAL OF EVERYTHING.
It Is further denied that the property,
real and personal assets or business Of
the corporation, or limited partnerships
within Ohio and mentioned in class first
OF said trust agreement, were transferred
to or vested In the defendant, either by
the corporations included in the first
class OF agreement or the individuals Of
the second class. The answer declares
that the company did not issue its stock |
to the trustees named in the agreement
at par value to the appraised value Of |
the money and property and business OF |
several corporations and limited part.
nerships in Ohio.
The trustees mentioned in the agree.
ment do not, according 10 the answer,
exercise general supervision over the
affairs OF tho defendant company, but
It's business Is managed and controlled
by a board OF directors chosen by it's
stockholders. The defendant denies
hat the trustees are enabled to and do
control the action OF the defendant com.
pany in the conduct Of its business, and
.he defendant denies that it has sur-
'endered its corporate powers, business
Ind prop.lty to the trustees named.
NOTHING INJURIOUS TO TRADE.
1t denies the allegation that it chooses
10 directors or officers, has no capital
'tock and lesues no certificates OF stock,
'ut avers that the directors, q majority
II whom are citizens of Ohio, are an.
lually elected by its stockholders, that
t has capital stock for which certificates
ire issued to and held by its ssockhold.
re, and the deiendent denies it ia
'arty to any agreement creating or con.
tituting combination and monopoly
njurous to trade and commerce.
In the second ground for answer the
Company falls back on the
ta,utes OF limitation for its plea. the
anguage used in this part Of the answer
,eing as follows:
BY way OF further answer and defense
defendant says that on or about the time
lleged in the petition, certain individ-
lals then being holders and owners of
tock in the Standard Oil Company,
made and entered into with others, the
everal agreements set forth in the peti.
ion. That they did this solely in their
Individual capacity, add in reference to
heir individual property, and not as
Ulcers OF the directors Of defendant, but
efenoant says that if said action OF
tockholders in becoming parties to
THE SEVERAL AGREEMENTS --T'-
!leged in the petition in their individu.
! capacity, and with reference to their
property, shall be deemed and
leld by this court to have been the cor
'orate act OF defendant, and if the sign.
nc OF the said stockholders Of the said
everal agreement aforesaid shall be
eemed and held by this court to be a
ause for forfeiture Of the charter OF this
efendant, then this de fendant Gays such
ct was done and committed more than
i've years before the filing Of the peti- !
ion herein, and that the cause OF action
hereiore is barred.