The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-03-11
The END OF THE TRUST.
The Great Standard Oil Company
to be Dissolved.
7 WILL SOON CEASE TO EXIST
AS u Trust and Pass Into History..A
Meeting OF Stockholders Called to
Vote on tho Proposltion..A Brief
History Of tho Gigantic Monopoly.
Tho business Will be Continued in
Another Form..Thc Trust Features
Will Not be Retained, However,

q . b .. .-a 10 D. ID. 2
NEw VonK, March lO.-Tho Standard
Oil Trust is preparing to bowsita head
in Difference to tho public prejudice
against the na,no and form oitrusts and
tho managers have about decided that
it is not advisable to carry the recent
case in the Ohio supreme court 10 any
federal appeal.
meeting OF the holders OF tho trust
certificates has been called to consider
the advisability Of dissolving tho trust;
although the decision OF that meeting
is in suspense, there is little doubt that
dissolution will DO ordered. But while
tho trust dies there will be no sacrifice
OF interests OF the certificate holders and
tho great aggregation OF the capital
known rs "the Standard" will still DO
managed by the same men and will re-
tain its control OF the transporting and
refining OF petroleum..
dor many years there has boon wagcu
in Ohio u legal warfare against the
Standard organization. Finallyanaction
by the attorney general OF tho state
against tho Standard Oil company OF
Ohio reached tho Ohio supreme court,
quo warranto proceedings being taken
to establish the illegality OF tho trust
agreements. On March l the court gavo
4 decision preserving the charter rights
OF the Standard Oil company, but nulli-
tying the contracts it had made with
tho Standard Oil Trust.
1t is evident that the Standard people
had been preparing for an adverse de-
cislon, and tho day the decision was
made public their legal representative
announced his belief that the trust
would bo abandoned. In the last few
days there have been long consultations
between the Rockefeller Bros, Henry
II. Rogers, Henry NJ. Flagler and other
trustees and their counsels, which e.
Hally resulted in the issue OF the fol-
lowing notice yesterday to certificate
holders:
"a meeting will be held at the Office
OF the trust on Monday March 81.
at IL o'clock a. III. for the purpose of
voting upon a resolution to terminate
the trust agreement and take such
further action as may be thercbyrender-
cd necessary
The actual business OF tho Standard
organization. is conducted by companies
organized under thcslaws OF the differ.
ent states. There is Standard Oil
company for New York, Pennsylvania,
New Jersey, Ohio, Indiana, Iowa and
Kentucky. These companies conduct
the refining branch OF the business,
which is the transportation OF crude
oil from the producing fields to
refining points in the interior and
at sea boards done. by pipe lines. The
principal pipe lines are operated by the
2 National Transit company which stores
and transports the oil produced in New
York, Pennsylvania, West Virginia and
parts OF Ohio. All OF these corporations
are united in the Standard Oil trust
which is simply apool ofthe stocks OF the
individual companies, Thetrustees are:
John D. Rockefeller, William Rookie
fcller, Henry NJ. Flagler, John D. Arch
bold, Henry II. Rogers, Benjamin Brew
ster and ". II. Tilford. Tho aggregate
capital held in the control OF the trust
is about S95,000,O00. The certificates
issued by tho trust simply represent
the equities in property held by the
trustees OF the Standard Oil Trust.
BY the provisions Of the trust lit may
be determined at any time OH the vote
OF certificate holders. The trust is n
purely personal affair, the stock OF the
various companies being footed by cor
porate action, but by the ac-
tion OF stockholders individually.
There is no intention of replacing
the trust by corporation, as was the
case when the Sugar Trust and Cotton
Seed Trust were reorganized, because OF
the difference in character OF the several
agreements. In dissolving the Standard
Oil Trust individual stockholders will
simply receive back the pooled secu-
rites. but OF course some method
will be devised by which the outside
holders OF trust certificates will be fully
protected In their equities. Some OF
the banks hold Standard Trust certifi-
Gates as collateral on loans,
but they have been fully
assured by the Standard people that
they will be fully protected in any
steps which will be necessary in case it
is decided Mt the coming meeting to
abandon the trust agroclnent.
Tho Ohio Rp,iistrictcr.