Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-10-10
Government Prosecutor Is
Now Well Satisfied
That Standard Oil Corporation
Is an Illegal One.
The Proof Comes From Records Of
the Oil Trust Itself.

New York. oct. 9.-From statements
called from ledgerS and books found
in the offices of the Standard Oil Co.
Frank Il. Kellogg. counsel for the Unit
ed States government, succeeded IN
placing Oil Tuesdays record of the fed
eral proceedings against the oil COM
binc the processes and stages through
which the combine passed il its
changes from the old Standard Oh
Trust to the present Standard Oil Co.
of New Jersey.
Statements submitted showed in
brief that at the inception of the
.>tan'lard Trust in 1852 there WAS So
C00.o0O in trust certificates issued for
stocks Of various companies which en-
tered into the combine. In the trust
Ieriod from 1882 to 1892 a stock divi-
Gcnd OF $l5,c00,000 was declared and
this with other stocks issued for plant
purchases brought the total capitalZa-
ton Of the Standard up to $92 80, 900
AS a result of a decision of he supreme
court of ohio forbidding the trustee =
from voting the trust certificates, there
was I resolution passed by tn" trustees
directing that the trust be dissolved.
ore. today showing that thu, day follow
ing The passage of that resolution 81
subsidiary companies We're consolidate
ed with the Standard Oil Co. OF New
Jersey and /? others subsidiaries of the
trust. Seven months later. on Nov. 80,
1892, the witness read from statements,
there were 1853 trust certificates pre-
scented for cancellation and to the hold
ers We're given their pro rata shares
if the 20 subsidiary companies which
then made up the trust.
MIR. Kellogg sought to show that
those who held control of the trust
with the exception Of Il few friends,
were the only ones who liQuidated their
trust certificates and that. By lqudat-
ing only Il ma jority of the total certifi-
Gates outstanding which they owned
they continued their direction Of the
trust by voting a majority of the stock
in the subsidiary companies. Mr.. kel-
logg endeavored to show that those
who liquidated their trust certificates
and took the stocks of the subsidiaries
were John D. Rockefeller, William
Rockefeller. II. NJ. Flagler. Benjamin
brewster. J. d. Archibold, II. II. Rog-
crs. W. II. Tilf"rd, c. W. Hardness.
estate of g. +. Jennings. Emma Auch-
inc,nss, estate of Charles Pratt and 0.
H. Payne.
For the first time the profits and
dividends OF the Standard Oil Trust |
from its incorporation to 1892 were
made public Tuesday. The profits Of
the Standard Oil Trust as stated by |
Mr. Fay. We're as follows:
In 1882. S12,3S6.l01; 1883, 81. 100; |
1854. $1,.7s,2S5; l>>5 $3.50 935; 1856 |
S15.35 .776: 1887, $1402s.-Go: 1855. S12-
.51,7-7; i$So. $1iSi5.eol 1850, $40, 131,t.0; |
1891 slG@@31 $50.
The dividends declared ny the Stand |
ard Oil Trust from 1882 10 1891, We're |
spread on the record as follows:
In 1882. $685. 1889. s4.26S ,os6; 1854, |
ss,.SS.S:2; 1855. $7.479,-23; 1886 $7.22e,-
AZ: 1887. $S.463""..77; 1883. SO, 236. III;
1882 sl0,620. $50; 1890, $11 300, OG0; 1891, |
s11.64S. S2G.
Mr. Kellogg after the adjournment |
made the following statement |
concerning the developments in the |
hearings:
The evidence consisted largely ,
of statements Irom the books Of the tru.;-
tees of the standard Oil Trust. This is
made public. 1t appeared that on March |
IL 1892, the trustees claimed to iic,udate
the trust hy Il division Of all the stocks
pro rata among the certificate holders.
As a matter of fact, it appears tiat on
April /, 1892, before any division Of the
stock in the hands Of the trustees was
made, the trustees turned over II the
Standard Oil Co. of New jersey, to the
Standard Oil Go. Of New York and va
riouS other companies controlled w the
trustees the stocks of 64 corporations
leaving in their hands the stocks of 20
corporations only. The stocks Of these
20 corporations they divided into parts
equal to the number of trust certificates
outstanding, and it appeared by the eX-
hibt that on Nov. 80, 1892. and Dec 81.
1S'e, n bare ma jority Of the outstanding
certificates, to Wit. Sia i6l 900 par value
We're cancelled (out of the total issue of
$3.50 coo and Il prnportionate amount of
stocks Of the 20 subsidiary companies
distributed to tie persons Who s,Irren-
dcred their trust certificates. !2ut it
also appeared that the only persons who
received such distribution WAS tie trrls-
tees themselves and n few of their I'M
mediate associates. The trustees there.
fore instead " distributing the stock of
all tie companies turrcd over CT Of them
10 companies whiyh they controlled ~
distributed tie stock simply TO them
selves. The balance of the stock belong
Ing to the public, was retained ~ tic
trustees, 50 that during tho years Of the
pretended liquidation from 1892 20 1899.
the trustees controlled all the corpora
tions in exactly the same manner as be-
fore. We produced settlement
showing the earnings of the trustees from