Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-09-20
YOUNGER ELEMENT WILL
Direct THE STANDARD

ception i'll 1882, when the trust agree
ment was signed, until the trust was
"dissolved in 1899 and the Standard
Oil company of New Jersey was form
ed. He based many of his questions
from the trust agreement of 1882,
which was contained i'll the bill IL
complaint filed i'll St. Louis last De-
cember, when the present action was
commenced.
Original Trust Agreement.
This trust agreement, which was en-
tered into by John ID. Rockefeller AMI
Is other oil interests, provided that
Standard Oil companies should be
formed in Ohio New York, Peunsyi-
vaIia and New Jersey and III other
states whenever the trustees deemed
advisable. All the properties and as
sets of the embraced corporations ann
companies were to be turned over t,
the several Standard Oil companies,
which, in turn, issued their own stock
in exchange.
Under the terms of this trust agree
ment all stock was to be delivered t.
nine trustees, who issued to the de-
posting stockholders trust certificates
equal at par value to the par value of
the several Standard Oil companies.
The nine trustees under the original
agreement were John d. Rockefeller.
%. II. Payne, William Rockefeller, j.
RnCtNNinl- EN1ouInr
Warden, Charles Pratt, Benjamin
Brewster and John Archbold
Law Defied by Reorganization.
Mr.. TiIford was questioned at length
on the trust period between 1882 and
1892 and the period of trust liquida-
ton from 1892 to 1899. MI. Tilfor8
as secretary of the company. could
give the governments counsel little
information during these periods of the
Standard Oil trust, though he was &
liquidating trustee.
Mr.. Kellogg finally asked Mr.. Til
ford if during the period of liquida-
tiOn there had been any real change
in the management of the company
and the witness replied there was not,
The trustees in liquidation continued
the same organization under the same
officerships that the trustees under the
trust agreement had had.
When the prosecutor asked if the
trustees continued to hold stocks an
to exercise the same controlling inter
eSt-the witness said that the liquidat.
ing trustees had continued to vote the
stocks in the companies they con
trolled on the basis of their personal
holdings in these companies.
Texas Outster Ignored.
That the Standard Oil company is
operated under the name of the Cor
siCana Refining company in the state
! of Texas, which has forbidden the Oi
combine to operate within the state
was brought out when Mr. Tilfor|
testified that II. c. FOlger and c. NJ
| Payne, whom Prosecutor kellogg
! states control the Corsicana company
are prominent i'll the conduct of al
fairs of the Standard Oil company.
Mr.. Kellogg sought to draw from
the witness the information that tht
COrsicana company was really Stand
ard Oil company and was operating
in Texas because the antitrust law
of that state would not permit tn
combine to operate it. Nj. TiIfOrd r
piled that as far as he knew the Stand
ard Oil company had no interests il
Texas He said that Mr.. FOlger an
Mr.. Payne were both officers of tn
Standard OH company. but he was nc
aware that they owned the COrsican
company.
LAS a matter of fact" said Mr.. Ke
logg, doesn't the Standard hold stoc
in the Corsicana under the names c
two of its officers to avoid prosecutio
: in the state of Texas?"
Mr.. TilfOrd couldn't answer tn.
3, question.
. The University of Chicago owns
600 shares of the Standard Oil con
pany stock.