The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-09-23
Regenerated Oil Trust Is
to Give Government
All Its Secrets.
TO INCREASE IT'S CAPITAL
'lf We Are Guilty." Says Off.
Cial, "Others Are Also. Eva
sion by the Trust Is Shown
by Evidence Taken at
Hearing Today.

NEW YORK, Sept. 23.--Official denial
was given today to reports that con-
ference of Standard OIL interests is to
be held at the home of H. H. Rogers,
in Fair Haven, Mass, today. 1t is
stated that Mr.. Rogers has not been
consulted regarding Standard Oil af-
fairs since he was taken i'll.
A representative of the Standard Oil
Company said today:
1.-THE statement that conference of
Standard Oil interests has been called
for the purpose of changing the name
of the company and effecting reorgani-
zation in general is without founda-
ton. We can do nothing in this re-
spect so long as the company is un-
der investigation.
II can say, however, that as soon az
the Standard Oil Company has freed
itself from the labyrinth of litigation
now involving it, there will be a re-
organization. The capital stock will be
increased to an amount more in har-
mony with the value of it's assets, say
to $4O0,0O0,0O0 or $500,O00, 900.
1--WE also purpose to issue periodical
statements of earnings. operations, etc.
We propose to give the represer tatives
of the government everything IN the
way of information that it calls for.
which is all we can do. If we are
guilty of certain infractions of The law
then practically all other corporations
are guilty of the same offenses and
should be treated accordingly. But we
are confident we will win out"
Wesley H. Tilford. treasurer of the
Standard Oil Company, gave further
testimony today in the hearing of the
governments action against the COM
p3ny..
Mr.. Tilford testified after looking over
the records on Saturday, that the Man
haitian OIL Company of Ohio had sold
to the Standard Company 754 tank cars
between 1899 and 1901. The purchase
was made for the Standard Company
by a subsidiary company, the Union
Tank Line. Mr.. Tilford could not say
if the Standard Company made any
contract to supply certain gas COM
panies with oil where it took over the
Manhattan Oil Company.
"As a matter of fact. don't you know
that the Standard Company made a
contract with the Indianapolis Gas
Company and the Peoples Gas light
and Coke Company, of Chicago y
Eyes, such contract was made in
1S99," said Mr.. Tilford.
"And was not the contract made be-
cause E. c. Benedict and Anthon.- N
Brady would not sell the Manhattan
Oil Company unless gas companies
- NJ
ten years.?
"'I don't know that the contract was
made for that reason" answered Mr.
Tilford II know the contract was
made for two years"
Mr. Kellogg then took up new line
of inquiry and asked Mr. Tilford II II
was not fact that the only stock OF
the twenty subsidiary companies dis
tributed between 1892 and 1899 was
474,619 out of 972,50 shares, which were
distributed to certain stockholders in
cluding John d. Rockefeller, William
Rockefeller, Henry M. Flagier, H. II.
Rogers and fourteen other stockhold-
ers. Mr. Tilford said he did not know.
Mr.. Kellogg said he purposed show
ing that, in order to avoid the injunc-
ton of the court preventing the voting
of trustees certificates, these trustees
liduidated a sufficient amount OF trus-
tees certificates for a majority of the
stock of the subsidiary companies and
that they as individual stockholders
still maintain control of the company.
Mr.. Tilford did not illuminate the is
sue which Mr.. Kellogg desired to make
clear, and Mr.. Milburn interposed that
the records were sufficient evidence.
The witness was unable to say whether
these 474,619 trustees certificates were
the only certificates liquidated after
1892.
Mr.. Milburn took up the cross-exam-
ination of Mr.. Tilford, who testified
that the Standard Oil Company had
about 5000 stockholders.