The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1906-02-10
HOW STANDARD ON
CONTROL OF WATERS 4
PIERCE
OUTWITTING THE TRUSTS
Loan Served as Snare for
Downfall of Pierce.


Oklahoma city, Feb 10.-John Bur-
rougAs 81 This place. whose deposition
may be taken by Attorney General had
10y ns Missouri .n the latters investi-
cation of the standard oil company's
operations In Missouri was for almost
wonty-Gvc years trusted employee OF
he Waters-p Pierce on company He has
1ecn bong unfriendly TO the standard OIL
company because Of the latter's inees-
SAINT attack upon he Waters Pierce
In discussing the anairs OF the Waters
Pierce company. and its relation to the
STANDARD. Burrows = the authority for
the following factts
when the Waters-Pierce Oh COM
pany was first organized. II. c. Pierce
held Twenty-Five per cent. OF the capital
stock Of 100000; Waters twenty-six per
cent and the Standard oil company
forty-nine per cent 1t was agreed that
after the death of either Pierce or Wa
ters the STANDARD should be given the
first opportunity TO buy the STOCK Of the
man who had died Here Is whore
Pierce showed his cunning. Waters be-
came Ill and without hope Of recovery.
While Waters was sick Pierce bought
his stock and thus outwittcd the Stand
ard. The latter was displeased. and
kept a close watch for an opportunity 70
got oven wit hPierce and secure "a com
trolling interest in the Waters Pierce
company
This opportunity novcr camo uatn the
summer Of 1904. when trap was laid sor
Pierce, which caught him. Pierce and
number OF his friends controlled
enough stock in thN Mexican Central
railroad company to give Piorcos SON
n-iaw q good position as IN officer OF
The railroad company at a good salary.
4 broker secretly representing the stan
lard bought q block OF tn Mexican Gem
truI stock. which was placed IN the
sands Of persons antagonistic to Pierce
and desirous Of change in the control
and management OF the Mexican Cen
traI TO protect his son -in-lnw In his
position, Pierce found that he needed
this block OF stock. Pierce dia not have
he monay, bu, broker offered TO nego-
date a loan from the Standard on COM
pany. and Pierce accepted tho oner.
When Pierce got the money the stand
ara refused TO accept any other security
han stock of the NVaters-pie com
4 itfAf A' Affi nNn iiliiNt WELD llt UI~
ionianding that the loan c0ald be re-.
eNed When the loan fell due how
Ver tho Standards ban1 refused TO re-
~" q, because Mexican Central stock
ld declined thirty per CEN. since the
oan was made. The STANDARD became
he owner OF the WA,ers-Pierce stock
yhicH Pierce had denosited an security
Tile standard now controlled a major
I =. e
san placing iis eastern mon I'm al inn
oorient positions where the old employees
wore known 90 be n sympathy with the
NAters-Piorcc company. Burrows was
among the first 20 grow suspicious of
hnppndeg danger he anticipated his
Z removal by resigning July g. 1905 as
eai agont Of tho Waters-Pierce cnm-
p9nv % Oklahoma The 'board of direc-
ter did aot aceoui his resignation am
dl Asiil 9, 1905 az 81 Louis though
Horsows refused 10 serve after Juv i5,
l9et
burrows hrs htce ln tho scrYiee Of
liie Naiers-pirrce coaipany FOR twenty-
four years. Ile hesan "a the company
iarpnt.ac and rpn drartmat in ST.
IlDeie. from which he WAC irinsferr q
swo Ners later ga Mississipni where hc
olnaF5d tiat deurimeni in the neld
~ uroducilon Eight yrer iatcr he
sked 20 hc given another place tlc was
a0erca s3.5oo 10 remain in Mississippi,
bun declined aed was transferred 90
Tozail1lnt, ana iafer 70 sulphur Spfluss
reNss ~ me leencsi of Pierce Pc went
aa spceial week 20 Nexco and unon his
ieiara was assigned 10 his position in
] lofNlrna.