The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-10
ROCKEFELLER WORDS
AS STATES EVIDENCE
OF! Kings Testimony Of Years Ago Rises
Against the Oil Trust in
Ohio Trial..
Defendant Corporations Lawyers Bitterly
Oppose Introduction Of the Evidence,
but Objections Are Futile.

said, was a corporation controlled en-
tirely BY its stockholders; t was in no
trust. The company, he said, sold some
Of it at retail in the county, might own
some real estate here, but the state.
ment that it was in any combination
in restraint of trade was entirely un-
by the facts.
Forced to Change Plan.
The tsstandard Oil trust = he said,
Rockefeller, William Rockefeller, Hem
~ NJ. Fagler, ii. H. Rogers, John Arch
bold and number Of associates. The
object Of the trust was to control the
oil business, and 80 per cent OF the
capital, skill and property engaged in
the oil business in the United States
controlled by nine trustees.
This arrangement continued for ten
years, during which time nineteen COM
panies subsidiary to the trust but CON
trolled by it were organized. Included
in these were the Standard Oil COM
R Se B1eke 9n p as G Gle con an
the Solar Refining company. These lat
ter companies, he said, were controlled
by the Rockefellers, Flagler, Rogers,
Arehbold and Wesley 81. Tlford. In
1882 the total capitalization Of the COM
Of $20,00O,O00.
The suit Of Attorney General Wilson
Of Ohio in 1892, charging that the trust
agreement created monopoly, was ex-
planned. The Valentine act was not
then in existence and the action was
brought under the common law. The
supreme court Of the state found the
Standard Oil company to be monopo-
listio and against public policy and orr
dered the trust dissolved StF
Mr.. Davis asserted that the state ex.
| pected in this trial to prove that the
board Of trustees Of the local companies
he had named did not and never in
the court, taltho technically they may
have observed the same in the letter. .
At a meeting Of the board of stock
holders Of the trust, called to dissolve
1 lthe trust in compliance with the order
\ of the court, he said there was present
Hfor the company . great and learned
ltroduced a resolution formally setting
TOUT a new plan of organization. =
/, III. XII Same Old Deal.
T In explaining this new plan, which
Twas adopted, Mr.. Dodge was quoted by
Mr.. Davis as saying to the stock
holders: . :,
:" Your interests will be the same
then as now. The various corporations
| will continue to do business as hereto
fore and our proportion Of their earn
ings. will not be changed. You will
understand that A will not get stock
in one corporation and B in another,
but - each ae, vii e., 6is due proportion
AT this same meeting, Mr.. Davis con.
tinued, arrangements were made for
winding up the affairs Of the trust and
tHquidating trustees were chosen, being
the same as the old trustees, which he
again named.
i Seven years later, In 1899. he said,
John D. Rockefeller and the same trps.
4 tees were still controlling the policies
and business Of the Standard Oil trust
and at that time only about 80 per cent
Of. the trust certificates had been ex.
changed under the terms OF the Dodge
resolution.
i, The contempt proceedings instituted
against the trust In 1898 by Attorney
General Monnett Of Ohio, but which
the supreme court Of the state dis.
missed, were here explained to the jury.
It was during the pendency OF these
proceedings, he said, that another form
was given The organization.
!, The Standard Oil company Of New
; Jersey was organized as a "holding
company" with q capital stock Of
. Sic, 100000 and increased corporate
power, which included the right to buy,
hold and vote the stock Of the other cor
porations. John D. Rockefeller, he said,
the largest est stock 1Wner aaa
the years 1899 and 1901. Mr.. David
said, the New Jersey organization is.
, sued $98, 000,O Of Its capital stock and
purchased nearly all Of the stock Of the
subsidiary companies in the trust, i1as
Guiding the Ohio companies heretofore
named, and from that date until the
.. dominated these state companies, have
Hvoted all the stock Of all Of the com,
, panies, elected the officers and cons
! trolled the policy Of the same FOR the
same effect and purposes as they did
yhile the, o wsr :, in the original trust
II Mr.. David. then stated that p g.
: Barstow. director n re ~ NeT T4. jersey
.. oM Company 81 Ohio, that 81. a. Rogers,
a director Ia the New jersey corporar
9 ton Is president Of the Buckeye Pipe
Line company; that John Archbold, q
E director In the New Jersey corporation,
| Is president Of the Ohio Oil company
2 and the Solar Refining company
How the Trust Works.
AS the business methods Of the local
company, he said the Standard Oil com.
pany Of Ohio and Solar Refining com.
pany refined oil; the Ohio Oil company
was producer Of crude petroleum and
: is also at this time engaged in build.
ing pipe line from Illinois oil fields
! to connect with the Indiana Pipe Line
!. company; that the Buckeye Pipe Line
company is a gathering and transpor
!. tati0n company.
The latter company, he said, has {
purchasing agency in Findlay. and wher
s an independent producer has oil In thu
} lime for sale the local purchasing agent
: II. "a. Scott, for the Buckeye, SIGNS
transfer order on the Standard.
: Said Mr.. David, The state In THU
= case claims that, Notwithstanding tn,
9 numerous makeshifts and changes mad,
J, iby these men from 1882 until the dat,
q Lof the fling Of the information in thi
y lease, John D. Rockefeller, William
o Rockefeller, Henry H. Flaaler, Johl
Archbo1d, H. H RogerA have coutinp
ously, purpossly and unlaWf,tlly main
tanned and 8operated ! trust, monopoF
= For combination, and that the 6tandar,
4 Gil colnpeny o1 Ohio i member a
81 thAt trust or n0nDpo1y az eegmhinafion
= and yo1 Nere called hese teddy "a