The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-21
PIERCE ILL; HADLEY BALKEO.
Calls OIL COMPANY SECRETARY,
IS BUT LEARNS LITTLE.
Charles VI. Adams OF Waters.Pierce Con-
cern Unable 10 Remembers Many Things
and UNIFORMED Concerning Relations
With Standard or Its Share OF Fronts

and UNIFORMED Concerning Relations
With standard or Its Share or Fronts
ST. LOUIS, March 2O.-H. Clay Pierce
failed to put in an appearance at the stand
ard Oil investigation this morning.
His attorneys stated that he was too III to
appear and offered a certificate from DIR.
Young H.. Bond in support Of the statement.
Acknowledgement Hadley would not ac-
cept this, but demanded that the physician
appear before the Commissioner and, under
oath, answer such questions as to his pa
tents health as might be propounded.
Dr.. BOND appeared, was sworn and testi-
fed that Mr.. Pierce is threatened with
pneumonia, and that he cannot safely attend
the hearing. He said that he had been with
Mr.. Pierce about half an hour this morning
In response to questions by~Attorney-Gen-
eral Hadley as to the seriousness OF Mr..
Pierce's illness. DR.. Bond, resenting an in
ference that the ailment was being exag-
gerated, said
Il would not give any advice that would
compromise the life of a patient. In such a
case as this it is natural to suspect collision,
but l would not be a party to anything Of the
kind, and l am very sure Mr.. Pierce would
not"
Dr.. Bond said that he had been Mr..
Pierce's family doctor for twenty or thirty
years.
MIR. Pierce is almost voiceless,' he de-
clared, from tonsilitis plus I%aryngitis.
His condition is such as precedes pneu-
monia, and necessitates his confinement in
n ROOM"
In the absence of Mr.. Pierce the hearing
uro, o,,,o,o Il ,rtth rharIaa NJ Alornc capra-
tary and treasurer of the Waters Pierce Oil
Company, as the witness.
Questions regarding h ownership OF the
Waters-Pierce stock were fired at Adams
thick and fast from the moment he mounted
the stand. He was asked whether the
Standard OIL owned shares of Waters
Pierce since May 20, 1900. He pleaded
ignorance on that point. as he did also of
the proprietorship of Waters-Pierce shares
at the time of the old company s disincor-
poration in 1900.
His answers to vital questions generally
were: Il can't recall, "or"1 don't remember
DO YOU know who were the share
holders of the Waters-Pierce company
when the incorporation was effected?'
"Mr. Pierce owned 1880 shares
Has them still?'
Il don't know"
At the afternoon hearing Attorney
General Hadley brought forth a connection
between the Standard Oil Company and
the Waters-Pierce Oil Company.
Secretary-Treasurer Adams Of the Waters
Pierce company reappeared with the stock
book of the disincorporated Waters-Pierce
company, and 1t was proved by q reading
of the stock certificates that the STANDARD
Oil Company of New Jersey in 1900 held as
much stock Of the old concern as NJ. NJ.
Van Buren, Of Ardsley-on-the-Hudson holds
in the Waters-Pierce company Of the present
day.
The exact number Of shares held by Mr..
Van Buren, is 2,747, while the total number
OF shares of stock Of the company is 1000.
trustees Of the Standard Oil Trust June %,
1882, when the capital stock of the Waters
Pierce company was increased from 800 900
to $500 900, and constituted a majority
interest.
When the old Waters Pierce company
was dissolved in June, 1904, the same 2,747
shares were transferred to NJ. NJ. Van Buren,.
Mr.. Hadley ~endeavored to show that these
shares are still held by Van Buren, for the
Standard Oil Company; He asked Mr..
Adams whether the dividends declared on
these shares were not divided Proportions
the Standard Oil Company particularly
H. M. Tilford.
Adams pleaded ignorance of what be-
came Of the money after payment OF divi-
dends had been made :,
A receipt for 800 $50 that had been paid to
H. Clay Pierce on his stock in the Waters
Pierce Company was then shown to Mr.;
Adams, with the request that he tell. if
he could, what part Of the sum had gone
to the Standard Oil Company as it's pro rata
Of earnings on stock In the lesser concern.
Mr.. Adams denied any knowledge OF what
Mr.. Pierce did with the money paid to him.
At the introductionSf the stock book
Mr.. Hadley also oRereaa summary showing
in abbreviated form Ehe various holdings
of stock with the9 tfahsfers Of the stock.
The summary ~setDcketed by. opposing
counsel and wassp9a M Mr.. Hadley in
questioning the sftge5s.N
This afternoon M Hadley ~telegraphed
Secretary Of State ,8@angsf advising him
not to permit the voluntary withdrawal OF
the Republic OpCompahX from the State,
as such a course would defeat the purposes
of the investigation.