Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-03-11
STADARD OIL TRUST.
The Popular ClamOr Against II and
Things Of Its Kind
HAS BROUGHT DISSOLUTION.
Tie Trustees Decide isii II IS Not Worth While
% Garry the Rscsni Case il Ohio % The Fst-
ral Cosrts-A Meeting Ofths Ccrtkcas-
Holders Called SAaUPn the Qlss-
ton Of Dissolution.

NEW YORK, March l0.-The Standard
OIL trust Is preparing 10 bow its head
In Difference To the public prejudice
against the name and form OF trusts,
and the managers nave about decided
that IL is not advisable 10 carry the re-
cent case IN the Ohio Supreme Court 10
any Federal appeal.
A meeting OF the holders OF the trust
certificates has been called To consider
the advisability Of diSsolying the trust.
Although the decision OF that meeting
is in suspense, there is little doubt that
dissolution will be ordered.
But while the trust dies there will be
no sacrifice OF interests Of the certificate
holders, and the great aggregation OF
capital known as the "Standard" will
still be managed by the same men aud
will retain its control OF the transport
ing and refining OF petroleum.
For many years there has been waged
In Ohio, a legal warfare against the
Standard organization. Finally an ac-
ton by the Attorney General Of the
State against the Standard Oil Com
pany, OF Ohio. reached the Ohio Sn-
preme Court, quo warranto proceedings
being taken 10 establish the illegally
OF the trust agreements.
On March lst, the court gave q decis-
ion preserving the charter rights OF the
Standard on Company, but nullifying
the contracts il had made with the
Standard OIL Trust.
IL is evident that the Standard people
had been preparing for an adverse de-
cision, and the day the decision was
made public their legal representative
announced his belief that the trust
would be abandoned.
In the last few days there have been
long consultations between the Rookie
feler Bros, Henry II. Rogers, Henry
NJ. Fiagler, and other trustees, and
their counsel, which finally resulted In
the issue OF the following notice yester-
day TO certificate holders:
"A meeting will be held at the Office OF
the trust on Monday. March 81, at II o'clock
a. m, for the purpose Of voting upon res
olution 70 terminate the trust agreement
and take such further action Us may DO
thereby rendered necessary"
The actual business OF the Standard
organization Is conducted by companies
organized under the laws OF the differ
ent States. There is Standard Oh
Company for New York, Pennsylvania.
New Jersey, Ohio, Indiana, Iowa and
Kentucky.
These Companies conduct the refining
branch OF the business while the trans
portation OF crude OIL from the produc-
ing fields TO refining points la the To-
terror and at the sea board is done by
pipe lines.
The principal pipe lines are operated
by the National Transit Company,
which stores and transports the oil pro-
duced In New York. Pennsylvania,
West Virginia and parts OF Ohio. All
OF these corporations are united In tho
Standard OIL Trust, which Is simply a
pool ofJthe stocks OF the individual COM
panies.
The trustees are John ID. Rockefeller,
VIM. Rockefeller, Henry M. Flagler,
John ID. Archbold, Henry II. Rogers,
Benz. Brewster and w. II. TilfoFd. The
aggregate capital held in the control OF
the trust is about sos, ,000,OO0.
The certificates issued by the trust
simply represent the equities In pro.
perty held by the trustees OF the Stand
ard OIL Trust. By the provisions OF the
trust IL may be terminated at any time
on the vote OF certificate holders
The trust is purely personal affair,
the stock OF tho various companies not
being hoated by corporate action, but
by the action OF stockholders lndiyid-
ually.
There Is no intentlop 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 amply re-
ceiye back the pooled securities, but OF
course come method will be devised ~
which the outside holders OF trust GER
tlGcates will be fully protected In their
equities.
Some OF the banks hold Standard
trust certificates as collateral on loans.
but they have been fully assured oy
the Standard people thas they viii be
fully protected IN any steps which
will be necessary In case 10
IS decided az the coming meeting 70
abandon the trust agreement.
When the trust was formed there
were thirty holders Of certificates, and
now there are no more than about Two
hundred.