Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-03-12
HOW IT WILL BE DONE.
The Method to be Adopted in Winding
Up the Standard.
ALL THE CERTIFICATE HOLDERS
viii Vote on the Question and Deeide Whether the
Trust Property Shall be observation-disclosures
Given for Deciding 70 End the Trust Agree
Notwithstanding AbOu, the Business.

New YORK, March 1.-THE an
nouncement that the managers OF the
Standard Oil Trust have invited the
certificate holders 10 vote on a motion
to dissolve the trust, has aroused wide
interest aud a keen desire to know the
form under which it is proposed TO con-
duct the enormous business Of the con-
cern.
In accordance with provision in the
trust deed, a special meeting Of the
holders of the trust certificates has been
called for Monday, tie twenty-irst in
Stant, 10 vote on the proposition. AT
that time, too, the certificate holders
may decide the mode in which the
affairs OF the trust shall be wound up,
and whether the trust property shall be
distributed, or whether part of 1t, and
il so, what part shall be divided and
what part sold, and whether such sales
shall be public or private.
When asked to-day whether the trust
would be reOrganiZed in some other
form, and what was the reason for tha
dissolution, 5. r. c. DOdG, the solicitor
for the trust, said: "NO, we have no
intention af reorganiziDg the trust; our
purpose is to dissolve, not reorSanlze.
This decision has been brought about in
part bv the decision against the trust
in Ohio, but more largely by the oppo-
SitiOn and legislation against trusts OF
this sort in different States OF the
Union, and which has become burden
some. The decision in Ohio was the
first one given against our trust deed In
anv State. or course ii only affected
the trust in that State.
1--WE think the trust has been a bene-
fit to everybody. Besides largely re-
ducing the price OF oil TO the consumer,
il has enabled every person in our en-
ploy, who has saved a dollar, or got a
dollar, to invest, to share in the profits
of the trust, and in that was il has been
profit sharing industry. When the
trust was organized, it comprised about
80 persons. Now there are 1000 per-
sons names on the books as certificate
holders and those persons are scattered
all over the world. The capital Of the
trust is sos, 900. coo, and during the ten
years Of its existence it has paid quar-
terly dividends of 3 per cent, or J. per
cent per annum. Its export business
amounts to about $4,000, 600 year, or
about two-thirds Of It's total business.
"The manner in which the trust shall
be wound up depends largely upon the
certificate holders. They will fix the
time when the trust shall be wound up,
il they determine that that shall be
done under the trust deed. The trus-
tees shall made the distribution Of the
trust property in the mode directed, or
if no mode be agreed upon by twO-thirdS
in value Of the certificate holders, the
trustees shall make distribution OF the
trust property according to law.
Such distribution, whether it be of trust
property or values, or both, must be
lust and equitable and such Is to insure
to each owner of Il trust certificate his
due proportion of the trust property or
the value thereof. The only property
the trust owns consists OF stock OF the
constituent corporations. II the trust
is wound up, that stock will be returned
to its owners and the constituent cor
porations will carry on business as
usual"