The Tupelo journal., 1906-11-23
The War on the Standard.

The War on the Standard.
st. Louis.-Petition filed in United
States circuit court asking for disso-
tuition of Standard Oil trust and per-
petual injunction restraining 70 con
stituent companies from working with
or paying dividends to parent com
pany.
New York.-Standard Oil shares
dropped Is points, making net loss OF
150 points since Roosevelt's war on
the trust began; total depreciation in
stock since president opened crusade,
$3.50, GOO, 900; this Notwithstanding
quarterly dividends of $40 per share.
Findlay, O.-Proseeuting attorney
directed by Attorney General Ellis to
keep grand jury in session; all Stand
ard Oil officials may be indicted; Of
tcials of Standard Oil company OF
Ohio indicted agreed to surrender.
st. Louis. Mo.-The suit to break
up the Standard Oil trust has been
filed in the United States circuit court
hero. The petition asks:
That the court decree that the com
bination and conspiracy are unlawful
under the Sherman antitrust act.
That the Standard Oil company be
enjoined, restrained and prohibited
from exercising any control over Its
allied corporations, or any OF them,
by the election or appointment OF di,
rectors or officers, or in any other
manner.
That the subsidiary corporations be
enjoined from declaring or paying any
dividends to the Standard Oil com
pany of New Jersey.
That the defendants, and each and
all of them, be enjoined from entering
into any contract, the purpose or eff
feet of which is to restrain commerce
In petroleum and its products or tc
monopolize the same.
The petition contains 1914 pages OF
printed matter, or about 100000
words, and an additional "a pages OF
exhibits, consisting of bylaws and
minutes of Standard Oil meetings and
organizations, and a map showing the
retail prices of oil in every state and
territory of the union.
What the Petition Alleges.
1t is alleged. in the petition that
John D. Rockefeller and his associ
ates, the other individual defendants
formed a conspiracy to monopolize
the commerce in petroleum and its
products at an early date-about the
year 1270-and that the same individ
uals have controlled the combination
during all these years, in all its forms
and now control it. 1t was, therefore
deemed wise to state in the petition
the complete history and growth o.
this conspiracy.
History of the Conspiracy.
The petition is logically divided into
three periods. During the first one
of these periods, from 1870 to 1882
the combination assumed the form o.
a simple conspiracy-that is to say
the defendants, with the Standard OF
company of Ohio, acted together tt
suppress competition and control the
oil business.
During the second period, from 1873:
to 1899, the combination assumed thu
form of a trust agreement, whereof,
about 40 separate corporations en-
gagged in the same business, turned
over the management of their bust
ness to nine trustees, of which these
individual defendants were the major
ity, so that these defendants con
troIled all of these corporations.
In March, 1892, the supreme cour
of Ohio declared this trust agreemen
void and ordered its dissolution.
Thereupon, on March 81, 1892, tn
trust certificate holders met in New
ork and resolved to dissolve the trus
and appointed John D. Rockefeller
Henry M. Flagler, William Rockefel
Ter, John D. Archbold, BENJAMIN
Brewster, Henry H. Rogers, Wesle,
II. Tilford and o. B. Jennings a
liquidating trustees-the individual
defendants being a majority Of thes
trustees.
The manner of liquidation was NO
to sell the property and divide tn
proceeds among the certificate hole
ers, nor to return to each person IL
dividually the property placed in tn
trust, but all of the stocks in eac
of the companies were divided int
portions in proportion to the humble
of trust certificate shares outstanding
so that Rockefeller and his associate
continued to control all these corpol
atoms as before.
Birth of the Present Trust.
The petition then takes up the thir
period of the conspiracy, beginin
with the formation Of the presen
trust.
In order to accomplish this, in Jar
uary, 1899, they increased the stoc