Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1906-11-16

OSSn pASSAA GU ny a SouA DC VI cINkaoA
which, beginning in 1870, has contin-
ued under the direction of the same
persons, in the main, down to the
present time; that these persons now
surviving are John D. Rockefeller,
William Rockefeller, Henry H. Rogers,
Henry M. Flagler, John D. Archbold,
Oliver H. Payne and Charles M. Pratt;
that the design. throughout Of the per-
sons having control of the enterprise
has been to suppress competition in
the production, transportation and sale
of refined oil, and to obtain, as far
as possible, monopoly therein; that
between 1870 and 1882 the design was
affected through agreements made be-
tween many persons and corporations
engaged in this business; that in 1882
the result aimed at was made more
certain by vesting in nine trustees Gn-
Guiding five of the above named per-
sons) sufficient stock in the thirty
nine corporations concerned to enable
the trustees to control their operations
In such a way that competition be-
tween them was suppressed; that this
plan was acted upon until it was de-
clared unlawful by the supreme court
of Ohio in an action against the Stand
ard Oil company of Ohio, one of said
corporations, in 1892; that during the
seven years following the same indi-
vidual defendants, as majority of
the iquidating trustees, were pretend
ing to iquidate the trust, but as a
matter of fact were managing all of
the corporations In the same way and
exercising the same control over them;
that the Individual defendants, in 1899,
increased the stock of the Standard
OIL company of New Jersey from $10,-
100000 to $40, 000.0 900: that said COM
pany was then producing and selling
corporation and they :,
Added to It's Corporate Powers
the power Of purchasing stock in other
companies and practically all of the
powers exercised by the trustees un.
der the unlawful trust agreement OF
1882; that the Standard Oil company
Of New Jersey, then taking the place
of the trustees, acquired all of the
stock Of the corporations heretofore
held and controlled by the trustees
paying therefor by the issue of its
own shares In exchange; that the
president Of the board of trustees be
came the president of the Standard
OH company Of New Jersey and the
same persons (the individual defend.
ants) who had directed the business
of the Standard Oil company of New
Jersey and ever since continued it;
that the purpose and effect of the
use of the Standard Oil company of
New Jersey as holding company
was precisely the same as the pur-
pose and effect Of the appointment of
the trustees hereinbefore referred to,
namely, to suppress competition be.
tween the corporations and limited
partnerships, whose stock was first
held by the trustees and then by the
Standard Oil company of New Jersey;
that by the foregoing methods, aided
by the establishment of railroad rates
for transportation which Disseminated
in favor Of the Corporations whose
stock was held by the holding com
pany, that company has been enabled
to obtain, in large sections of the
country, monopoly of the sale OF
refined cai, with the result that the
prices to the consumer within the ter:
ritory where the monopoly prevails
are very much higher than within the
territory where competition to some
extent still exists"