Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-09-19

New Jersey issued to the same persons
These records would show. according TO
Nr Kellogg. whether Mr. Rockefeller and
his associates purchased or disposed of any
OF their holdings in the oil combine during
the liquidation period.
Whose Plan Was TIP
Mr.. Tiford was asked who made up the
plan 10 place the stocks of the subsidiary
companies in the Standard Oil Company of
New Jersey The witness said he did not
know.
You were treasurer of the new company,
you were attorney for the liquidating truS-
tees and also a trustee" said Mr.. Kellogg.
Were you not prominent in the company
Il hardly think il could be said l was
prominent in the company" replied Mr.. Til
ford.
can you tell ME where the trust certih-
Gates turned over to your company may be
found?' inquired MIR. Kellogg
Il cannot replied Mr.. Tilford.
Mr. Kellogg again took up the question of
electng officers of the subsidiary companies
during the liquidation period. AS to whether
the directors of the subsidiary companies
were elected through proxies held by the
liquidaung trustees the witness had no rec
objection; nor could lie tell how much stock
the liqu.dating trustees held during the
period of liquidation as individuals.
Mr.. TilfOrd related the various positions
he had held in the various subsidiary COM
panes. He had been president of the Stand
ard OF Company of Indiana from 1889 to
$50; president of the Standard OF Com
pany of Iowa from 1885 to the spring of this
year. and was president of the Union Tank
Line In 1891.
Now. you give us list of officers
and directors of these subsidiary companies
In the trust period and in the liquidating
PERIOD"
Il do not think can" answered the wit
No Change in Management.
Mr.. Tilford admitted that during the liqui-
dalton of the trust there was no change in
the real management of the companies
The witness asked if the Standard
OIL Company of Indiana still made reports
to the Standard OIL Company of New Jer-
sey. and he replied that he did not know
MI Tilford was asked If he knew II. C.
Folger and c. NJ. Payne. He replied that
he did.
10 you know of the Corsicana Refining
Company of TeXas?"
Il have heard of it," replied Mr.. Tilford.
DO you know that II. G. Folger and c.
M. Payne own the Corsicana Refining Com
pany?''
i do not" replied Mr. Tilford
DO you know if the Standard Oil Com
pany OF New Jersey obtained oil from the
COrsicana company
L do not know" answered Mr. Tilford
Did you ever hear the Corscana COM
pany discussed In the board of directors
meetings of the Standard Oil Company of
Il did not"
Did you know that the Waters Pierce
Oil Company was ouSted from TeXas?"
Yes
Doesn't Know Texas Law.
Did you know that no company owned
by the standard Oil Company is permitted
to do business in the state of Texas?"
Il don't know" replied Mr.. Tilford.
Don't you know that the Corsicana COM
pany is operated in Texas under the names
OF ii. c. Foger and c. NJ. Payne because the
state will not permit the Standard Oil Com
pany 10 do business there"
Il do not" answered Tilford.
MIR. Foiger and Mr.. Payne are quite
prominent officeholders in the Standard Oil
Company. are they not?" asked Mr.. Kel-
losg
Yes. they are" replied the witness.
is it not an unusual thing for officers OF
the Standard Oil Company to control
competing company asked Mr.. Kellogg.
MIR. Milburn interposed and said that he
diu not recognize that the COrsicana COM
pauy was competing company.
MIR TIlford was closely pressed by Mr..
Kellogg as to whether the Standard Oil
Company of New Jersey had any oil in
tereSJS in Texas or received any dividends
from any companies operating there. Mr..
TN:pTd said that to his knowledge the
Standard did not. lie did not know about
the Manhattan OIL Company OF Ohio. Mr..
lhtOTd knew both E e. Benedict and An
thpUy y. Brady. who had been interested in
th- Manhattan company.
When the hearing reOpened after the
noon recess former Judge Ferris, sitting
as special master, announced that the
proc ceilings would be adjourned because
OF the Illness of one of the counsel John
u MiIburn said that his associate Moritz
Ros-nthal. was suffering from a slight
iuGi~pusition.
Testimony Yesterday.
ard oil Company. took the witness stand
al the afternoon session yesterday Mr.
KeIlogg said during recess that representa-
uves Of the government were going over
the Iedgers OF the Mquidating trustees and
thai information concerning the liquida ton
OF the trust being put in proper form
for presentation in court
NJ Pratt was shown a statement show
Ing the income of the Standard Oil Com
pany uf New Jersey from the c. NJ Pratt
Investment Company, and asked II the in
come WAS the total amount of dividends he
received from the Waters Pierce Company
He replied that II was. Mr.. Pratt said that
the certificates lie held in the Waters
Piece Oh Company were indorsed in blank
by II. clay Pierce OF St. Louis. the presi-
dent Prior To 1890 the WatersPierce OIL
Company Of Texas had a capitalization OF
$ironHp. and the Standard OIL Company
owned 27iI shares. Mr.. Pratt said he paid
OUT Dt mis- pocket s4Ij. 90 for the stock and
held IL I'm the interest of the Standard Oil
Company In May. 1900. the new Waters
Percr OIL Company was formed with the
sane capitalization. and Mr.. Pratt ex-
changed the old certificates for the certifi-
Gates of the new company.
Why did YOU hold this stock for tho
STANDARD oil Company" asked Mr.. Kel-
lOsg
~ matter OF convenience" was the
rep.y.
Now, matter OF fact did you not
hoe this stock To evade the antitrust laws
of Texas
Il DO not know, was Mr.. Pratts answer.
Mr Pratt said that in March. 1904. he sold
the Naters-Plerce stock to NJ. NJ. Van
Busren, who. the witness said. had no con-
nection with the Standard OIL Company.
Mi Van Bueren paid about $1,000 900 for
the stock. giving SIJOOD in cash Id the