New-York tribune., 1907-10-09
STANDARD OIL FACTS.
EARNINGS, S1S2, ,295 ,O98.
Evidence Reveals Business Done
after Trust Vas DlsSOlUed.

after Trust w as DtSSOtCoU.
Proving what very little and unimportant mat
ter decision Of the highest court of sovereign
state was among the small but compact coterle
responsible for the formation of the original Stahu
ard OIL Trust in 1882. and who still exercise con-
troll occupied most Of the time of Frank b. kel-
Iogg yesterday at the hearing in the governments
suit to dissolve the Standard OIL Company
The governments attorneys have contended all
along that the Standard OIL Company Of New Jer-
sey Of to-day is really the same old trust that
was formed twenty-five years ago, with. OF course
some enlargement Of its resources and widening or
the scope its activity in spite Of the fact that
March .. 1892. the Supreme Court OF the state
OF Ohio declared the original amalgamauon OF the
oil companies under its laws invalid and ordered
its dissolution. Repeated efforts by Mr.. Kellogg
and his associates have been made during the
progress Of the suit 10 get hold of the records Of
the quidating trustees. 20 find out how conscien-
tously they followed out the mandate OF the Ohio
court, but until yesterday the governments attor-
neys failed to get any OF the records in evidence.
Then, however. Mr.. Kellogg succeeded in having
Clarence c. Fay. acting controller OF the Standard
OIL Company. identify statements prepared from
certain books Of tho trustees. which went to con-
vince tho governments attorneys moro than ever
that their belief that the trust OF to-day is the
trust of 1850 had good basis. 1t the
first time that any extracts from these books
allowed get out OF the archives OF the Standard
on Company. the aid Of subpHnas being OF course
required. Furthermore tne statements eNnlDted
yesterday went IN Mr.. KelIoES's opinion. n great
way toward proving that the Ohio courts order
effectually ignored. and that there never has
been any real dissolution OF the old trust
manded
1t Is true that March o. 1892 shortly after tho
courts Judgment was entered. meeting or holders
Of trust certificates took place at No. e6 Broadway.
nt which It voted to wind up the trust and
break Il up into its component parts. As
brought out early in tho present hearing, John n.
Rockefeller. William Rockefeller. Henry NJ. Flag
Ter, Benjamin Brewster. John D. Archbold. Henry
II. Rogers. Wesley H. Tilford and o. r. Jennings
were appointed trustees 80 do the winding up.
They had in their control the stock OF some sixty
four corporations engaged In various branches OF
the oil industry and supposed 10 resolve them
that each of the corporations might be really
dependent.
Instead 1t would appear from the figures submit
ted yesterday for Mr.. Fay's Identification that what
the nine trustees really set out to do 20 keep
tho control OF the sixty-four corporations firmly in
their own hands so that they could be operated and
managed "harmonously." So. before setting to
divide up the stocks that had been accumulated Mt
the formation of the trust. they apportoned.
April J. 1892 the stock OF tho sixty-four corpora
tions, Of twenty Of which the little group had Sc
cured command.
The sixty-four corporations which were included
in tho original trust at the time It was ordered
into liquidation by tho court were represented by
n total OF 972 500 shares. The trustees were evil
IDENTIFY IN no haste 10 distribute the stock To the
shareholders for the statements submitted yester-
day showed that at the end of 1892 only 1858
shares had been "lquidated" returned their
individual holders These were only bare for
fly of the total number OF certificates or shares
but the statements placed on the record showed
that this amount of the total was safely held by
a littlo group composed of tho trustees and some
of their immediate associates
In this it brought out that the dis
trbution ordered hy tho Ohio court began, like
charity, at home. and ended there, apparently for
by the trustees from 1892 to 1899 Then when the
Standard Oil Company of New Jersey was incor-
porated. those outside the small controlling group
had q chance to come I'm and exchange their trust
certificates for shares of that corporation During
the seven years service of the "lquidating trus-
tees II would appear. through small ma jorty
control OF the entire of certificates the trus-
tees were able to handle the affairs Of the sixty
four corporations. Just they had done for ten
years before. and just they are continuing to
do to-day
That the old trust managed to make some money
I'm the oil business before the state Of Ohio stepped
in and said the combination was an Illegal one and
should to exist is shown by the following
table of the earnings of the trust and the
dividends declared ny II from its formation I'm 1852
to its alleged going out of existence in 1892 This
is tho first time that the trust has been forced IN
disclose its earnings in this period. The earnings
and dividends OF the second period in STANDARD
OIL history. that of the liquidatine trustens q" b,s
not yet been completed.