Middlebury register. (Middlebury, Vt.) 1886-1937, 1907-10-11
IN TRUSTS BOOKS
Valuable Information Secured
Regarding Standard Oil
AN ILLEGAL CORPORATION
Kellogg Says 1t Is S it Directed BY
Those Who Had to 90 With Form
alton of Trustee YES Names o.
Those Who Are Most Interested

alton of Trustee YES Names o.
Those Who Are Most Interested
New York, oct. 9.-From statements
culled from edgers and books found in
the offices of the Standard Oil com
pany, Frank b. Kellogg. counsel fol
the United States government. sue
ceeded i'll placing on yesterdays record
of the federal proceedings against the
oil combine the processes and stages
through which the combine passed in
its changes FROM the Old Standard Oil
trust to the present Standard Oil com
pany of New Jersey.
Out of the maze of figures developed
in voluminous mass from the com
panys books and from testimony given
by Clarence 6. Fay. assistant auditor
Of the Standard. called as a witness.
the governments counsel says he be
lieves he has proved the federal allega-
ton that the Standard is an Illegal
corporation and that by devious de
vices has maintained its entirety and
when it was formed.
Mr.. Kellogg says that he is of the
opinion that Notwithstanding that
the government was unable to discover
the transfer books and stock ledgcrS of
the liquidating trustees. the evidence
adduced yesterday shows that the so
called oil trust only affected to dis
Al,
in 1892 and that its direction is still
held by those who had to do with tn,
formation of the Standard oil trust
Statements submitted yesterday
showed in brief that at the inception
of the Standard Oil trust in 1SS2 there
was $7O.OOO.OOO in trust certificates is
sued for stocks Of various companies,
which entered into the combine. In
the trust period from 1852 to 1892 Il
stock dividend of $1l.OO0.OO0 was de-
clared. and this, with other stocks is
sued for plant purchases. brought the
total capitalization of the Standard up
to $97.25O,OOO.
As Il result of Il decision of the SUI
Dreme court of Ohio fOrbidd!ng the
trustees from voting the trust certiti
/ Gates. there was resolution passed by
the trustees directing that the trust be
| dissolved. Fay read Il statement in
| the record showing that the day fol
lowing the passage of that resolution
"a subsidiary companies were consoli
dated with the Standard Oh company
of New Jersey and 10 other subs
diaries of the trust.
Seven months later, on Nov. 80. 1892
the witness read from statements
there were 494.619 trust certificates
presented for cancellation and to the
holders were given their pro rati
shares in the 20 subsidiary companies
which then made up the trust. Their,
Mr.. Kellogg sought to show tha
those who held control of the trust
with the exception of few friends
were the only ones who liquidated thei
trust certificates and that by liquidat
ing only Il majority of the total Ger
tifcates outstanding which they owned
they continued their direction of tn
trust by voting majority of the stool
in the subsidiary companies.
Mr. Kellogg endeavored to show tina
those who liquidated their trust cer
tifcateS ana took the stocks of tn
subsidiaries We're John ID. Rockefeller
William Rockefeller, II. NJ. Flaglel
Benjamin Brewster. J. -. ArchbOld
ii. ii. Rogers, w. III. 1lfOrd. {. W
Hardness estate of {. l.. Jennings
Emma Auchinloss. estate of Charlie
Pratt and O. III. Payne.