The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1892-03-26
THE STANDARD MONOPOLY VOTES
IN FAVOR or DISSOLUTION.


It's Affairs 70 he wound Up by Com
rnitteo Headed by tho T.ockofsliers and
Flagior--rho Dissolution Is Said to Re
Good FOR the Big Stockholders.
NEW YonK, March, a2-The greatest and
nost profitable OF all trustB-the Standard
Oil-controlling seven great companies in
seven states, and having paid 12 per cent.
/ dividends Per annum since January, 1882, on
/ ao5, ,0O0, 900 capital, was dissolved yesterday
sin deferenco to the popular outcry against
| trusts7-its directors said. This gigantic
and secret corporation, whose methods have
always been mystery, has prospered by
centrRlization Of vast power and by the
brilliant ability Of its foremost managers
John D. Rockefeller and j. D. Archibald.
The product Of the truss has never been
protected by the tariff It's success has
shown how a trust could thrive under freest
| trade. The trustees dissolved" at noon at
/ 2s Broadway.
/ John D. Rockefeller, the president of the
| trust, presided, and j. d. Archibald acted
as secretary. Henry N. Flaglsr, the socre-
tary, was absent from the city Two hun
dred and fifty stockholders were present
and 100000 out Of 100000 shares of stock
were voted. The absantees besides Mr.
Flagler were William Rockefeller and Ben
| jamin Brewster Tho vote to dissolve the
trust was unanimous.
The Manner Of Dissolution.
The resolutions provided that the affairs
Of the trust shall be wound up by John D.
Rockefeller, Henry N. Flasler, William
Rockefeller, John d. Archibald, Benjamin
Brewster, Henry H. Rogers, Wesley H, Til
ford and G.. D. Jennings and the survivors
Of them in the following manner:
The property hold by said trust, except tho
stock of corporation shall be sold by said trus-
tees at private sale and the proceeds thereof to-
gether with any moneys belonging to the trust,
shall be distributed to tho owners Of trust GER
tihcstOs according to their respective interests.
All stocks Of corporations held in trust, as
evidenced by said trust certificates; that is to
say, each owner Of trust certificates or certih-
Gates for cancellation arc to receive in
lieu thereof assignment Of as many
| shares or fraction OF shares in each OF
tho corporations whose stocks are held
in TIE said trust a. he is entitled 10 by virtue
Of said csrtihcats certificates, It being the
intent and meaning Of the resolution that the
equitable interests in said stocks represented
| by trust certificates May thus on demand be
converted int local interests represented by
assignments and transfers Of said stocks by
said trustees 70 the parties entitled thereto,
which transfers and assignments may be On
tered on the books Of the several corporations
upon tho demand OF tho holders Of such assign
menta, thereby merging or converting equit-
able ownerahip iEto legal ownership in said
stocks.
All purchases, sales exchanges and caneslla-
uons Of stocks, or agrcslAents therefor exc
cuted or eIecut0ry, made by the trustees dur
ing the existence Of the trust and all assets by
said trustees as stockholders to purchases,
sales and exchanges Of corporate property and
to the formation and winding up Of corpora
tions, and all otRer acts Of the said trustees
during the existence Of tho trust, are hereby
ratified and conarmod,
The resolutions were seconded by Alex
ander E. Orr. Solicitor Dood said after the
meeting adjourned that it will require about
four months for tho trust to liquidate. The
stock Of the companies which formed the
trust is all owned or controlled by tho men
who were trustees Of the trust, and after
the liquidation this business will be CON
Quoted in precisely the same manner as it is
now. The only difference viii be the com
panies individually will control their own
affairs, hut ss they are all owned by the
same men they will act Of course in har-
mony. The stock Of the companies win be
increased
Coed FER the big stockh olders.
Part Of tho proposed increase in capitaliz-
alton viii be made in the following compa-
nies: The Standard Oil company Of Now
York, raised from 5000, 900 TO 81, 600. .OO0;
the Standard Oil company, of New Jersey,
$3,0O0,0e0 to l0,o0o, 600; the Atlantic Rein
lug company, ef Philadelphia, $500, 900 to
Sl,000,0OO; the Standard Oil company, Of
Indiana, $50O,O9 to Sl,OoO,0O0 Where the
other increases will be made is not yet de-
Taa -.
trust, ten or twelve, all refining companies,
viii be wiped out, and their capital trans.
ferred to other companies Among those
which the officials say have outlived their
usefulness are the Pratt Manufacturing
company, of Brooklyn; the Some s. Fleming
company, Of New York; the Atlas Re
tining company, Of Buffalo; the Mix Oil
company, Of Cleveland and the Acme Oil
company. The Macllsburg and the Con-
Meeting Pipe Line companies, Of Ohio, viii
be merged in the Buckeye company. The
Standard Oil company, Of Kentucky, win
absorb several Of the small companies in the
south aAd southwest
The oRly comment which Wall street had
to oIer on the action Of the stockholders
was to point out that it seemed likely that
the dissolution Of tho trust would only serve
to tighten the hold Of the few large stock
holders in the various properties, inasmuch
as the smaller holders on receiving their
holdings back in fractional lots, would prob
ably, because their holdings were in that
condition, be anxious to sell out rather than
bother with property in such shape
WANT JUDGE MAYNARD REMOVED.
The New York Bar Association Appeals
TO the Legislature.
NEW YoRK, March 23.-The committee
appointed by the Bar association TO inyesii-
gate Judge Msynards connection with the
contested election cases made its report 70
full meeting Of that body, over 400 mem
bers being present The report is a lengthy
one, and after reviewing the committees
investigation and Judge Maynard's letter Of
explanation to Judge Earle, Concludes thus: