The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-03-22

and time must BE- allowed the iianidatine tsps.
Sss chat saSsos soasn would
M :s n:
interests q each and all. and that the same
tSksn va ishe interests the smaller
Alexander r. Orr seconded the resolution.
More than OF those present voting.
Mr.. Dodd said later in the day to the re:
up the affairs OF the trust. The stocks in the
would first be divided as laid down IN his
hS cash on nd hsn BE- cs
companies which have been represented in the
trust will be either DISCONTINUED or merged
tie trass was s%5. ooo.ooo kseordips to
Mr.. Dodd: a plan now under considera.
affairs 'e q Some 0 Of tn the smaller Companies
in the trust or merging then 7. with the
ifaisati9n 81 the coinpanies controiled BY the
standard to about Ssa!O0oOoo. but the tota!
faPhtaiizaton # az ted
capital stock Of the com panies in existence.
AZ present there s,. are thlrity, companies In
eiT company. and several Companies
enns THESE thirty psnies % be A rs
dnced to eighteen or twenty. either BY
wpng out the ten E, twelve or BY
the companies to be- abolished are the Pratt
Msnn;a1et ty,,h cempany Gh N; Tll Be-
New York. whiie the Atlas Refining company
New YorL. and the Nix nix Lubrcatinr Gompsny
Of Cleveland will DO abolished altogether: Tho
three pipe line sompnnies ip ohionthe Buell.
FurtheTlnore. several small trading companies
ard oil cS%pany q III Ksntaskys. 'a ~ ~. s'"
Mr. Dodd was asked exactly what holders OF
the trust certificates will get in exchange for
=, The Change" he said. .eo put It briefly
Sil Trust, will IN future 70 conducted by the
$4,000 shares: in al. Of the trust certificates.
The holder OF 100 shares therefore has q
lis he rscere
tions. each certificate being for 10. 72oth part
such as giving one shareho older pipe line stock
and another refinery stock. Each will share
I" As for the property mentioned in the res
olntions rs belonging to the trust. the trust.
is not allowed to hold any property. except the
reason the the term pro 81 s was used at ali;
was simply I to include any bonds tina. the trust
there any 1t faSt
Will the dissolution OF the trust result in
higher fb Prices not Of the o,,v not,ceahs
ing out Of the small stock holders and the CON
large owner 81 inst ss OF holding on to the the
fractional part OF a share in a number OF dill;
fsrsns p ATTIC the small W.
Be- resrettea When the trust was Originally
organized thirty-six men oyned all the stock;
different s$mpsniss: Nov !hs lev lasss
orm w s fsy Affairs e Wit Hhers nna
With this buying and selling Of stock the pro-
cess Of disintegratipn viii begin III almost I i'm,
ia one company and hold those In another.
and the original equal distribution may soon
Of the Inherent corporations.
sa Hnsf the win h c al
s ssss%Hs.isISs; 5sSS hssss;sisS; G!!Is%
al stosl ays
bold. Henry IL Rogers. and niamin Bfews-
ter As long as these men retain their stock
on BE should OF dsSass 81 r.
enough OF it to lose a controlling interest.
then competition in the oil business is likely |
to be gust as brisk as it is In anything else"
was ask ed II tho dissolution OF tho trust might
not have the effect Of raising the prices OF 81.
" There Is considerable doubt In my mind
whether the business can be managed sue:
cessfully and wcl py a number OF scattered
thing has heretofore been directed BY q single |
body Of men. who arranged for the best re-
suits from the business as whole. Now each
company stands for itself and has to be man
aged accordingly There is more opportunity |
for friction and Observation-Disclosures, and 1t Is q |
question whether the results viii be as salts |
factory That. only time can tell" |