The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1907-09-20
owns MUCH H
Oil. STOCK
!. o. ROCKEFELLER HAS MORE
THAN oNE-FoURTH INTER.
EST IN STANDARD.
Gill FORD TESTIFlES
Standard Oil Trust Officials Finally
Give Books to Government-Treasur-
er Testified That Oil King owns
25s,s54 Shares Out Of Total Of
s72,5oo.
(Ry Associated Press

ASAA0a OWnS mOTe Inan One-TOurth in
terest in the Standard Oil trust, ac
cording to the testimony Of Wesley Il
IHlford in the federal proceedings
against the Standard Oil company O
New Jersey today. Mr.. Clifford testi
fled that Mr.. Rockefeller owned 256,
S54 shares out of total of 972,5Ol
shares of Standard Oil trust certifi
Gates in 1892, and that later an as
signment was made transferring te
Mr.. Rockefeller proportional interest
| in the stocks of the subsidiary com
| panies.
New York, Sept. 1S.-Wesley Ii
Illford, treasurer of the Standard Oil
company, was questioned today by
Frank B. Kellogg, who is conducting
the federal suit against the oil com
bination, in an effort to bring further
facts and figures concerning the de-
velopment of the Standard Oil trust
and it's subsequent liquidation into
the present Standard Oil company of
New Jersey.
Mr.. Kellogg said today that the rec
ords of the liquidating trustees which
have been finally furnished by the
Standard company, were being examin.
ed by government counsel and that
it might be several days before the
information secured could be produc-
ed in court. He also intimated tnat
further witnesses might be subpoenaed
as a result of the developments of
the last few days and that the hear
ing will likely be prolonged for some
time.
Mr.. Tilford was shown copy of
the agreement of 1882, showing list
of companies that entered into the
trust It appears that Chess-Carley
company signed that agreement.
.'Haye you thought about that since
I spoke to you last night" asked Mr..
Kellogg.
'No, l have not" replied Mr.. Gil
ford, who yesterday testified that he
had been a member of the Chess-Car-
ley company of Louisville before he
became identified with the Standard
Oil company.
Mr. Clifford was asked when it sign
ed the trust agreement.
He replied that the stockholders
were f. B. Carley and the Standard
Oil company Of Ohio. Mr.. Clifford
said that he became identified with
the Standard Oil company Of Ohio in
1878. He was liquidating trustee and
one of the trustees under the trust
agreement. He testified that between
1892 and 1899 the trustees received the
dividends on the unliquidated stock
of the subsidiary companies, and dis
tributed the money to the holders OF
the trust certificates and of the liqui-
dating assignments. The trustees did
not vote the subsidiary stock, as they
had done before the company under
went liquidation.
.Prior to 1892" Mr.. Tilford said,
'sthe trustees vote the stock and elect |
ed the directors of all the subsidiary
Mr.. Kellogg again asked Mr.. Tilford
If it was not fact that the liquidating
trustees, during the liquidating period,
voted the stock of the subsidiary com.
panies, whose stock was still unliqui-I
lated.
81 am quite sure they did not, re-
Piled Mr. Tilford.
.Then who voted the offices of the
companies?'' asked Mr.. Kei-
ogg.
"They we're elected by the jndivi-
1ual stockholders of the company,
Mr.. Tilford.
Mr.. Kellogg took up the methods
O HuulUdtiH6 CuS SoAApeuA0S sshu SnoW
I'd the witness the certificates OF as
signments made to John d. Rockefel-
Iep.
"This shows that John D. Rockefel-
er owned 256,964 shares out of to-
al of 952,5OO shares of trust certifi-
Gates in 1s92," said Mr.. Kellogg, sis
hat correct?"
'fT think so, according to the assign
nent here" replied Mr.. Tilford.
"Wel, you, as counsel for the trus-a
lees, were one of the signers OF the |
assignments, were you not?"
sYslaLs
"Then you made out this assignment
and transferred to Mr.. Rockefeller his