The Washington times., 1907-09-19
STANDARD RUNS
TEXAS RIVAL
TO OIL TRUST
Witness Admits Two
Officials Own Con-
Germ.
Kellogg Seeks to Intro
duce Old Trust
Agreement.

NEW YORK, Sept. 19.-That the Cor
sicana Oil Company, now doing ouSi-
ness in Texas. is controlled by Standard
Oil Company, and is held for that COM
pany in such a way as practically 70
nuIIify the action of the State Ia GUST
ing the Watsrs-Fierce OIL Company was
charged today by Frank 2. Kellogg. the
Government counsel in the suit to dis
solve the Standard Oil Company. Of New
Jersey.
Wesley T. Tnford. treasurer Of the
STANDARD OIL Company. Of New jersey.
was asked II Oliver II. Payne and H
c. Folger did not own the Corsicaua
Company. T1lford seid he had heard
that they did.
\ has the Standard of New Jersey
any interest. either direct or indirect
in the Corsicana Company asked hei-
logg.
Not to my knowledge" replied the
witness.
Payne and Folger are pretty aromi-
pent in the Standard Oil Company are
they not?"
Yes. replied Tiiford.
Things Uncommon in Trust.
s.It is not a common thing for officials
of the Standard Oil to operate compet-
ing oil companies is itF'
Il don't think 1t is common thing
replied the witness very solemnly while
everybody else in the court room smiled
kellogg. BY his questions. showed that
he sought to prove that the Corsicana
Company was held by Payne and Folger
to avoid the ruling Of the Texas court
and merely sold all its output to the
Waters Pierce Company, which had
been ousted.
Tilf0rd, in answer TO many questions.
said that he knew nothing OF the de-
tails OF the operations Of any Of the sub
companies He was questioned about
the Securities oil Company. OF TeTas
and the Manhattan OIL Company, but
had little knowledge Of them. according
10 his statements.
On account of the slight indispOsition
Of Moriatz Rosenthal, of Chicago. one
of the chief counsesl for the Standard.
an early adjournment was taken.
Wants Old Pact Read.
Mr.. Kellogg is trying to get the old
trust agreement TO read in the record at
the hearings in New York. This agree
ment provides that the trust should con-
tinue for years and that whenever hold
ers Of trust certificates should acquire
an interest in concerns not under the
trusteeship they should endeavor to
have them run in harmony with the
interests Of the concerns IN the trust
Tais Standard Oil Trust was declared
Illegal by the Ohio courts and ordered
10 dissolve Eight years later the Stan
dard oil Company. of New Jersey, was
formed and Mr.. Kellogg tried to show
that the present concern was modelled
after the older one. Mr." Tilford ad-
mitted that he received relatively as
much stock IN the new company as ne
held trust certificates under tne trus-
teeship, but would not admit that this
had been the case with others
PICK Up MATTER IN TYPE
Excerpts from the original agreement
follow:
Paid in Trust Certificates.
THE consideration for stock delivered
to the trustee shall be delivered by the
latter TO persons entitled thereto OF
trust certificates equal TO the par value
Of the stock OF the several STANDARD
Oil Companies. so received and equal
to the appraised values OF the stocks
Of other companies or partnership de-
livered TO the trustees.
''It IS understood and agreed, however
Continued on Eleventh Page)