Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1907-09-27


- ,r,,. came from the plants
-A y -'An' owned by the parent
company, as well as from those Of the
subsidiaries controlled by 1t. This was
the first time in the history of the oil
trust that record of its earnings ell
tire had been made public. Acting
Comptroller Fay of the Standard said
there We're nineteen subsidiary compa-
MES and gave their names. The eyi-
dence is being taken for use in the cir
cult court at st. Louis, where the disso-
luton suit under the antitrust law is
to be prosecuted. Mr.. Kellogg, among
other things, wanted the company to
produce the minutes Of the various
meetings at which the absorption of
smaller companies was arranged. but
this counsel for the company was in.
clined to resist.
The examination of Charles M. Pratt
secretary Of the trust, brought out the
TACT that the parent company had
transferred its 100000 holdings in
the Waters-Pierce OIL Company of
Texas to son-in-law Of Vice President
Archbold from 1904 to 1907, during the
custer proceedings brought against tho
subsidiary by the state of Texas, and
fhat only $l25, 900 in cash was paid for
the stocks, the remainder being in the
1orm OF note which was never fully
taken up, the profits Of the Waters
Pierce company going toward the pay
ment OF the note. Mr.. Pratt admitted
that this transaction did not appear on
the books of the Standard, the accounts
Doing kept under the title sc. M. Pratt
Investment" Mr.. Pratt explained that
by this arrangement he held the stocks
1or the trust merely as convenience,
and when asked If 1t was not done to
avoid the antitrust laws of Texas he
replied, mot that know Of"
Tabulations were also verified show
ang enormous earnings of subsidiaries,
among which those Of the Standard OH
Company of Indiana appeared most
remarkable. This corporation on cap
ttalization of $1,0O0,0OO made profits in
ne06 amounting to $10,516, O82 and last
year paid to the parent company S4,-
$4,000. This amounted, for at least
one year, to the remarkable profit Of
1000 per cent. Mr.. Kellogg also
brought out evidence showing how the
New York branch had been systemat.
acally drained by saddling upon it enor-
NOUS liabilities at the same time that
lts assets We're greatly increased. Coun-
Sci Mfburn disclosed one line of de-
Tense by giving notice that the trust
would object to any testimony bearing
upon acts committed prior to July 9.
1850, when the Sherman law went into
effect
Indicted For Giving Passes.
Every railroad In the state Of Mis-
sissippl was indicted by the grand
bury Mt Jackson for failure to furnish
ehe state railroad commission with a
list Of passes issued by them. This
hctton is in line with the indictments
Issued last week against the Yazoo
and Mississippi Valley and Illinois
Central railroads. The antipass law
thus invoked was enacted in 1884 and
u said to be the first antipass law en-
Sected In this country. 1t had long
been dead letter, but was resurrected
by Prosecuting Attorney Harris, who
u now pursuing members of the legis-
lature and state officers for accepting
passes.
Rogers Pleads illness.
The suit for $5O,O0O,o 600 damages
brought against Henry Fl. Rogers of
the Standard OIL company by G. M.
Raymond Of somerville, Mass, for the
alleged conversion Of royalties In con-
sction with the production of oil when
brought up before the supreme
:. :: !: !. J. !. !. !.
Ifton was met with the tes-
ers' relatives to the
,pPR4 seriously III
was physic-
Accord
Gcogers
lard
Address, S. NE
971
Austin