Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-03
STANDARD OIL
FOUND HOME
IN JERSEY
interesting Testimony in Gov
eminent Suit TO Break Al
legged Monopoly Congress-
man SibIey Figures in Yes
terdayS Evidence,

New York, Dec. 2-The processes
through which the Standard OH trdst
wa l~iquidatcd into thney subsidiary
companies brought uncet control Of
the present Standard OIL company of
New Jersey, were developed IN In
trresting detail today by John d.
ArChbold under cross examination
in the federal suit 20 dissolve he
standard oil company Mr.. Archbold
said that tho trust had been liaui-
dated In the period OF years from
1892 to 1899, with all good faith to
obey the mandates of the ohio SUE
premc court ordering the trust dis
solved.
There was 40 Interior move In the
fact that only about fifty-one per
cent of the trust certificates were
liquidatod into the stocks Of the sub
sldiary companies. said Mr.. Archbold
Small holders declined 10 liauidatc,
preferrlng to retain their certificates
which had a market value, rather
than to obtain infinitisimally small
parts in the several minor companies.
Mr.. Archbold made 1t plain under
"a series of questions from government
counsel that the standard oil COM
pany of New Jersey had been selected
M the holding company because the
laws Of New Jersey were reasonable
la their treatment OF corporations.
All the holders OF trust certificates
after obtaining their pro rntH Hhares
In the subsidiary companies turned
them into the New Jersey company,
and received their proportionatc
noun Of stock The Standard on
company Of New Jersey, the present
holding company. is the combination
which the government "a seeking 10
dissolve
During the day. MI Kellogg. FOR
the government. succeeded IN throw
in. light on the loans made to Il. NJ.
Barnsdalc Of pittsburg, an indopcud
ont oil producer. Mr.. Archbold testl.
aed that loans aggrcgatlng $500. 600
had been made TO Mr., Barnsdalc to
enable him to continue his oil opera
tons in various parts Of the country
4 part OF the contract was that all
the crude oil produced by Mr. Barns
dale should be carried iu the stan
dard's pipe lines.
During the day Mr.. Arehbold teati.
fled that former Congressman Joseph
G Sibley, of Pennsylvania. WAS iden-
tilted with the Galcna Signal oil com
pany a subsidiary of the standard
II vas to Mr. sibley that Mr.. Arch
bold addressed many of his letters
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