New-York tribune., 1908-12-03

Annie B. Jennings. Esther ]. Jennings, Helen
G. Jennings Oliver B. Jennings. Walter Jeh-
nings O. H Payne. estate of Charles Pratt, h
II. Rogers. John D. Rockefeller. William Rookie
feller and William H. Tilford.
Mr.. Archbod said that if the exhibit of the
company showed that they had turned in their
certificates for stock the sub-companies then 1t
must be true. He could not recollect from mem
ory. although Mr.. Kellogg tried to get him to
admit that he did remember.
Ex-Congressman Joseph Sibley was mentioned
in connection with the acquisition of the Signal
Oil Company and the Galena company, which
were combined before 1886. Mr.. Sibley, as a
minority stockholder continues as one of the
mana gers to the present time The joint COM
rany is known as the Galena Signal Oil Com
pany and it is said to control the business of
fabrication among the railroads. when the
trust agreement was being dissected the Ma
tional Transit Company's retirement Of S14,0O.-
600 Of its S31 100000 of capital stock came up
Mr.. Kellogg wanting to know whether it was
written off or charged off. Mr.. Archbold did not
remember the details,
The choice of the Standard Oil Company Of
New Jersey as the holding company for the
other Standard companies explained by
Mr.. Archbold as being due to advice of counsel
that the laws of New Jersey offered the most
reasonable treatment for corporations,
GETS ANON NOUS LII X.
Nr Archbold and his counsel were late in ar
irving at the Custom House for the session yes
terday morning. The Standards vce-president
was smiling broadly, mainly because he had re-
ceived an anonymous letter, whether of sym
pathy blame he would not say. E. T. Bed
ford. who has charge of the Thompson Bedford
department of the Standard. and is one OF its
strong men, was in the room. The defence will
call hirp probably some time this week.
Mr. kellogg started the day with inquiry
regarding the percentage of domestic business
controlled by the STANDARD. Mr. Rogers had
testified that the people that are working
in harmony with Us comprise about, I should
think 80 10 % per cent IF the refners." It was
not remembered by the witness. He had no dis
tinct recollection that would enable him to state
a percentage.
His attention called to his testimony be
fore the Committee on Manufactures in 1888,
when. according 10 the records. he placed the
percentage at So. Mr.. Archbold insisted that he
did not recollect. e If he said il at the time he
had no doubt that at that time he believed it to
be entirely correct The record given to the
Industrial Commission. which gave the percent
age in 1898 as S3.7. read to the witness. He
recalled the commission. but would not acknoWl-
edge that the figures We're correct.
From that Mr.. Kellogg took another tack, go
ing over each of the thirty-nine companies in
the trust agreement of 1882 TO determine to
what extent competition had TO do with their
acquisition. This was to clinch his contention
that when companies were bought the former
owners were permitted to retain some Of the
stock and if OF the right business sort we're con-
tinued in the management of the subsidiary
concerns. He got plenty Of proof Of this Mr..
kellogg also believes that this was done to
avoid future competition. How these companies
were purchased. whether with stock or cash,
was gone over again, but Mr.. Archbold could
not recoIlect this part OF the transactions
ARCHBOLD IRRITATEs KELLOGG.
Whenever Mr Kellogg asked the witness
something that was Of record, he would read
from the exhibit instead of answering, which ir-
ritated the government counsel. Mr.. Rosenthal
coached the witness several times. and was met
with sharp rebukes.
Mr. Kellogg took up the quick turning over
Of the trust certificates by the special standard
interests after the dissolution decision, and
asked:
Q.-What efforts DID YOU make between 1892 and and
1895 TO have the other stockhoiaers FetuIn i9 1it
A-The stockholders were all notified of the change
eRa gegf6 696 fR the ss9 eoeks ' df the 6 e6pane
Q-Why didn't they get their stocks IN the i SUP,
security that tangible and ayaiIaole FOR some
thing that was unavaila bic and lntangipLe gi1,t b
ra9ring Them 70 present their certificates and take
sock the same as YOU did? A.-My recollection Is
that we we're advised that had no legal power
to compel them TO make this substitution. ,soo 5
O.-H0v did they happen TO 90 IL IN IeSo anu
1895? A-After having found a way unoer lesaI
advice in which they could be held IN a common
oEDid you and your associates, who were the
I,rinciral trustees whose names nave given SIM
IIz have yorr stock transferred into stock OF the
sub-companies, that during Ilose Se@tS - ~, ~
might control the Sub-companles ana give the I'M
11rsssion that YOU had liQudated the company IN
good faith2 Ave made the transfer IN absol1Le L
good faith in accordance with the decree u NE
Ohio court. and pursuance OF Ife
raCf-ed We had no ulteTior purpose IN II "ildt--
ever We were there 70 conserve lle NeiS "V0I
interests Of the company -. .,.. 5;7
O-Intendng absolutely TO dissolve the trust ulu
q and il was dissolved in good faith. and ths
stock all distributed far as the paruss NTIIu
take il? A.-The action was taken IN soou 81
Without any warning Mr.. Kellogg TOOK up the
loan 70 Mr. BarnsdaT just ten minutes nefofe
the time for adjournment. MI Kellogg asked:
At was understood that the crude on vas IL
[oT7e INTO cur lines: that one consideratl0n ,
O-You held all the stock In the BafflsoalI ol
Company? Al don't know now Inucn t E,i,,s,,,rgo
AS a convenient place for trusteeehlp -
O-Tsnt it fact that the arIarlse5IsIt 5,1i az
that an Of the oil produced by Mr. f51riISIlarl -@ ~
oklahoma Company was to come 10 your ColIiPdNS'
Ind al The proceeds of that oil?
Mr. RosenthaI objected, saying that the con-
+rac+ would show the nature of the deal Mr.
ArchboId then said he would try to get copy
Of it
Mr. Kellogg will continue with MI A-chbold
this morning.