The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-03-21
H. CLAY PIERCE
PLEADS ILLNESS
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CONTINUED from First PsGe)
trustees of the Standard oil trust, while
the remaining shares of the lot were maze
out to w. ii. rilford.
The bank also showed that in March OF
1885 certificate for four hundred shares,
another for 400 shares, and in March 1880
still another certificate for 1853 shares or
the Waters-Pierce OIL company stock was
made our to the trustees of the Standard
Oil trust The witness later admitted
that the Standard oil trust and the
Standard Oil company of New Jersey
were the same. 1t was proved by the
ro aiding of the stock certificates that the
Standard oil company of New Jersey IN
1900 held as much stock as the old con-
Germ as M. NJ. vanburen of Ardsley-on-
the-Hudson holds In the Waters-Pierce
company at the present day
The exact number of shares of stock
of the company is 1000.
Acquired BY Standard Trustees.
These shares were first acquired by the
trustees of the Standard Oil trust June
o. 1882 when the capital stock of the
Waters Pierce company was increased
from 100000 to 100000, and constituted a
majority interest
When the old Waters-Perce company
was dissolved in June, 1904. the SAME ga
shares were transferred to. M. NJ. Vanbu-
rem. Mr. Hadley endeavored to show that
these shares are still held by Nanburen
for the Standard Oil company. He asked
Mr.. Adams whether the dividends declar-
ed on those shares were not divided pro-
pertionately among officers and stoclhold-
ors of the Standard Oil company, partic-
ularly III. IT. Tilford. Mr. Adams pleaded
ignorance Of what became of the money
after payment of dividends had been
made,
There was then introduced a letter
written by M NJ. Vanburen to Adams,
directing that dividends on the formers
stock in the Waters Pierce Oil company
should be paid by check into the Sea-
board National bank of New York.
A receipt for $99 $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 IL he could what part of the sum had
gone to the Standard Oil company as its
pro rata of earnings on stock in the
lesser concern. Mr.. Adams denied any
knowledge of what Mr.. Pirece did with
the money paid to him.
Mr. Adams was then excused
Vice President A. NJ. Finley of the
Waters-P Pierce Oil company was called to
the stand. After being sworn Mr. Finlay
was excused without having been ques-
toned and the hearing adjourned until
10 O'Clock tomorrow.
Wait Long for Pierce.
Increased interest was manifested to-
days in the proceedings of the oil hearing
at the Southern hotel and many spectators
congregated in the room to listen.
After a long delay awaiting the appear
ance of H. Clay Pierce. former president
of the Waters-Pierce company, who was
on the witness stand a few moments be-
fore adjournment last evening, the hear
ing convened. Judge Priest of counsel
for the Waters-Pierce company announced
that Mr.. Pierce was confined at his home
in Vandeventer place suffering from ton
silitis and bronchitis and offered a certi-
ficate furnished by DR.. Young H. Bond
in support of the statement that Mr.
Pierce was unable to attend
Attorney Genral Hadley refused to ac-
cept the certificate as an excuse unless
DR.. Bond personally appeared and made
a sworn statement.
come to the Southern hotel and in per-
son tell Commissioner Anthony the seri-
BUSINESS of Mr. Pierce's illness.
All the Pierce home in Nandeventer
place reporter inquired as to the con-
dition of Mr.. Pierce.
The statement that III. Clay Pierce was
said TO be i'll was received with surprise
by member of the household, who said:
Mr.. Pierce is not at home. o. he may
be at his office
At Mr.. Pierce's office In the Bank of
Commerce building it was said that Mr.
Pierce was not there and had not been
for a year
DR.. Bond finally arrived and after be-
ing sworn testified that Mr.. Pierce is
threatened with pneumonia and that it
would not he safe for him to attend the
hearing. On this representation Mr..
Pierce was excused until tomorrow.