Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-09-18

STANDARD CONTROLS
OIL SALES IN TEXAS

New York, Sept. 1.-THE testi-
mony was heard today in the federal
suit against the Standard Oil Com
pany of New Jersey.
The hearing here in the federal
suit which was brought in st. Louis
last December has twice been ad-
journed at the request of counsel for
the defendants. In the meantime,
however, Frank B. Kellogg, who is in
charge of the governments case, has
obtained many books and papers
from the Standard Oil Company,
which has enabled him to proceed ex-
peditiously with the case. Mr.. KEEL
logg intimated today that the govern
ment would also inquire into the char
acter and nature of the holdings Of
the Standard Oil Company of New
Jersey, as well as its affiliations, II
any. with railroads.
The United States government has
named not only the Standard Oil
Company of New Jersey as defend
ant, but also seventy subsidiary COM
panies of the main corporation, and
the following individuals: John d.
Rockefeller, William Rockefeller. H.
H. Rogers, Henry NJ. Flagler, Oliver
H. Payne, Charles NJ. Pratt and John
d. Archbold Only William Rockefel-
Ter and Charles NJ. Pratt have been
subpoenaed to appear before the hear
ing, though Mr. Kellogg may sub
poena the others later.
How Waters Pierce Is Held.
Mr.. Kellogg questioned the witness,
Mr. Pratt, ut some length about the
c. NJ. Pratt Investment Company. the
stock of which was shown to be held
by the Standard Oil Company. He
said the Pratt company represented
the stock of the Waters Pierce Oil
Company of Texas, which was hold
ing for the Standard Oil Company.
Mr.. Kellogg developed the informa-
ton that the c. NJ. Pratt Investment
Company came into existence at the
time the Waters Pierce Oil Company
was having difficulties with the
state of Texas.
Mr.. Kellogg asked IL it was not a
fact that the Standard company and
its subsidiary concerns were govern
ed by committees.
Mr. Pratt said he did not think so,
though in the early days of the trus-
teeship of the company it was likely
that the company was controlled by
committees.
Mr.. Kellogg asked what records
were kept by the trustees showing
the manner Of liquidation in the pc
riod between 1892 and 1902.
Mr.. Pratt, as one of the liquidatlng
trustees of the Standard OIL Com
pany, said there we're books kept, but
he could not recall in whose posses
sion they might be found.
Don't you know whether these
books are to be found in the comptrol-
ler's Office or the secretary's Officer"
asked Mr.. Kellogg.
q really don't konw," the witness
replied.
Don't you know anything about
the organization of the Standard Oil
Company"
NO sir; / do not"
Mr.. Kellogg asked the witness IL It
was not a fact that at the time the
Standard Oil trust was liquidating
that there were 81 1900 outstanding
trustees certificates, which had been
issued for the stocks Of the subsidiary
companies, and that in 1892, when
the Standard Oil trust was dissolved,
the Standard Oil Company OF New
Jersey exchanged its stock for the
certificates Of the trustees share for
same.
Il think so, replied Mr. Pratt.
Mr.. Kellogg said he would excuse
Mr. Pratt for the time being.
Clarence c. Fay, assistant comptrol-
Ter Of the Standard. followed Mr..
Pratt on the stand He was shown
the statement furnished by the Stand
ard company showing its stockhold-
ings on Sept IA. 1907, and stated that
the list was correct
Mr.. Kellogg asked the witness to
make up and produce a supplemental |
showing the stocks acquir- |
ed each year between 1899 and 1904 |
Standard Oil Profits.
New York. Sept 17.-Pronts az
rregating SlgO.3l5.93i were made by
the Standard Oil Company In tR
seven years from 1899 to 1906 Tes-
timony 70 this effect was given 10y As
sistant Controller Fay Of the COM