The Owosso times. (Owosso, Mich.) 1897-1926, 1907-09-27

'oiiii w. Hiiioufh' owned by the parent
company, as we'll as from those Of the
subsidiaries controlled by it. This was
trust that record of its earnings en-
tire had been made public. Acting
Comptroller Fay of the Standard said
there were nineteen subsidiary compa-
MES and gave their names. The evil
dence is being taken for use in the cir
cult court at st. Louis, where the disso-
luton suit under the antitrust law is
to be prosecuted. Mr.. kellogg, among
other things, wanted the company to
produce the minutes of the various
meetings at which the absorption of
smaller companies was arranged, but
this counsel for the company was in
clined to resist.
The examination of Charles M. Pratt,
secretary Of the trust, brought out the
fact that the parent company had
transferred its 100000 holdings in
the Waters-Pierce Oil Company of
Texas to a son-in-law of Vice President
Archbold from 1904 to 1907, during the
custer proceedings brought against the
subsidiary by the state of Texas, and
that only $125,OOO in cash was paid for
the stocks, the remainder being in the
form of a note which was never fully
taken up, the profits of the Waters
Pierce company going toward the pay
ment of the note. Mr. Pratt admitted
that this transaction did not appear on
the books of the Standard, the accounts
being kept under the title &c. NJ. Pratt
Investment" Mr.. Pratt explained that
by this arrangement he held the stocks
for the trust merely as a convenience,
and when asked If 1t was not done to
avoid the antitrust laws Of Texas he
replied, mot that know Of"
Tabulations were also verified show
ing enormous earnings of subsidiaries,
among which those of the Standard Oil
Company Of Indiana appeared most
remarkable. This corporation on cap
italizaticn of 81, 100000 made profits in
1906 amounting to $10,516,OS2 and last
year paid to the parent company $4,-
400, 800. This amounted, for at least
one year, to the remarkable profit Of
brought out evidence showing how the
New York branch had been systemat
ically drained by saddling upon 1t enor
nous liabilities at the same time that
its assets were greatly increased. Coun-
sci Milburn disclosed one line of de-
Tense by giving notice that the trust
would object to any testimony bearing
oofo % J,,Ix %
1890, when the Sherman law went into
effect.
Indicted For Giving Passes.
Every railroad in the state Of Mis-
sissippl was indicted by the grand
jury at Jackson for failure to furnish
the state railroad commission with n
list of passes issued by them. This
action is in line with the indictments
issued last week against the Yazoo
and Mississippi Valley and Illinois
Central railroads. The antipass law
thus invoked was enacted in 1884 and
is said to be the first antipass law en-
acted in this country. 1t had long
been a dead letter, but was resurrected
by Prosecuting Attorney Harris, who
Is now pursuing members of the legis-
lature and state officers for accepting
passes.
Rogers Pleads Illness.
The suit for $50,000,OOo damages
brought against Henry III. Rogers of
the Standard OIL company by G. M.
Raymond of Somerville, Mass, for the
alleged conversion of royalties In con-
nection with the production Of oil when
It was brought up before the supreme
court at Boston was met with the tes-
timony of Mr.. Rogers relatives to the
effect that he had been seriously Ill
since last July and that he was physic-
ally unable to appear in court Accord