The Washington herald., 1906-11-18

| New York, Nov I7.-For the second time
/ IN its history the Standard OIL Company
| has found il necessary 70 defend its prac-
tices from the attacks Of public criti-
cism.
/ In an official statement issued to-day
\ from 26 Broadway. il is declared that
/ the trust is impregnable against the as
saults Of the government. I'VE are un-
assailable either from d legal or a moral
standpoint is the burden Of the plea. and
( a successful issue in the suit Instituted BY
/ Attorney General Moody is confidently
( predicted
( Reference is made 20 the threatened re-
versal Of the wheels Of progress and the
destruction Of the foundations Of the great
Industrial business of the country. II is
solemnly asserted that the utmost care
has been observed 10 conduct the bus.-
ness honestly and fairly, and in accord
ance not only with the spirit. but with
the letter Of the law
Glad II VIII Go 10 Courts.
The statement is in the form OF a letter
from the directors to the stockholders.
Patrons Of the company are assured that
/
satisfaction IS expressed that the issue is
10 be taken from the people who have
handled it without gloves and thrust into
the judicial atmosphere Of the courts.
Only once before has the Standard Oh
considered il worth while 20 take the
public into its confidence This was about
four years ago when Ida n TarbelIs
magazine expose stirred up an unpre-
cedented storm Of newspaper comment
and public anathema As in the present
instance, the statement was brief, and did
not deal with any Of the specific charges.
Here is the letter 20 the stockholders.
handed to the newspaper reporters At the
Standards bureau Of publicity.
To the Shareholders Of the Standard
Oil Company: Regarding the suit yaster-
day commenced ia the United States
Court at s. Louis. Mo, in which it Is
sought 10 prevent the Standard Oil Com
pany tof New Jersey from holding any
stocks Of other companies, your directors
are entirely convinced that the conpany's
position IS unassailable from both a legal
and moral standpoint
Confident of ViBdicatfOn.
we are confident that in the proceed
ings which VIII follow. the company will
successfully maintain lis position upon
the merits. and yindicate Il before the
public and the law
While your directors feel that there is
10 adequate reason for such a suit, either
in the organization or the conduct Of the
business. yet, under the circumstances, il
is perhaps better for your interests and
the business interests of the company
that the controversy should be removed
to the judicial atmosphere Of the courts
in whose integrity and wisdom every citi-
zen should have the fullest confidence
where mere allegation must give way 10
legal proof.
The present organization was formed
after an exhaustive consideration Of the
legal and business problems involved. It
has existed unchaIlenged for many years.
Everything relating TO it has been &
matter Of public report. and at every step
the utmost care has been observed TO
conduct the business honestly and fairly.
and in accordance with not only the
spirit, but the technical requirements. Of
the law.
Retards Wheels of Progress.
The legal organization Of the company
is of essentially the same nature and
character as that of the other important
Industrial interests Of the country. and
the continuous growth and expansion OF
its business have been legitimate and
normal.
1t is not to be lightly assumed that
there is TO be d reversal of the wheels
Of progress or q destruction Of the
foundations of the great industrial busi-
ness OF the country
You may be assured that in this litiga-
ton, and in all matters affecting the
company, your directors viii see that the
proper steps are taken TO protect your
interests.
by order of the board of directors.
&C. VI. PRATT Secretary.
20. D. -l-.---- N-,-------L---.. z