The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1908-11-26
ARCHBOLD ENJOYS
TELLING OF TRUST
vlcE-PREsiDENT OF STANDARD
IS PUT ON THE STAND.
RockEFELLER ENDS STORY
Testifies That When the Combine
Was Effected He Owned Nearly
one-Thlrd of the Com
pany's Stock.


New York, Nov. 25.---John d. Rookie
Teller was replaced on the stand by
Vice-President John ID. Archbold of
the Standard Oil Company late Tues
day afternoon in the governments suit
to dissolve that organization.
Mr.. Archbold beamed with satisfac-
ton In telling of the Standards early
history. His clear blue eyes twinkled
when he told of the industrial fights,
saying that he kept careful watch on
his competitor and then tried to beat
him."
Mr.. Rockefeller's examination was
concluded late Tuesday afternoon.
After telling of his earlier exper-
riences In the oil industry, Mr.. Arch
bold said the introduction of refined
oil for domestic use was most difficult
because of opposition of the public as
a result OF its odor and burning quail
ties. From 1870 to 1875 the multiple
cation of refneries. brought about a
surplus which caused wide fiuctua-
tons OF prices OF oil. There were no
systems OF reserve or storage, he add
ed. Speculation in oil stocks was
rampant, and even the price of oil
was speculated in, which demoraIized
the business and made it hazardous
for the manufacturer. The manage
ment OF gathering lines was very bad,
said Mr.. Archbold.
Tells Of Stock, Ownership.
Mr. Rnnkafa1lor ttn,t;GnJ '.l,at
at the time of the organization
of the Standard Oil Company Of New
Jersey in 1889 he owned 256.S54 shares
of its stock out Of total issue of
$685. shares.
For the first time since he has been
on the witness stand at this hearing
Mr.. Rockefeller was a little late in
arriving Tuesday. Frank B. Kellogg,
the governments special assistant at
torney-general, resumed his cross-ex-
animation, taking up the organization
OF the Standard Oil Company of New
Jersey where he ended it Monday Mr..
Kellogg read what he said was a. list
of stocks obtained by that company
In 1899 for which 1t had exchanged its
own shares. He said that 442,797 out
of total of 9S3,3SS shares first issued
were in the name of John d. Rookie
Teller.
Mr.. Rockefeller said he did not own
30 much stock as that but did own
256,854 shares of the Standard Oil
Company of New Jersey at that time
and that he accepted the other stock
and distributed it to the proper stock
holders. He added that frequently
holders of certificates of the Standard
Oil trust exchanged them for stock in
the Standard Oil Company of New
Jersey rather than accept shares Of
the various subsidiary companies.
Il turned over my trust certificates
to the liquidating trustees" said Mr..
Rockefeller, land obtained a paper
on which | secured shares in the con-
stituent companies. which l turned in
to the Standard Oil Company Of New
Jersey"
Mr.. Rockefeller declared that he
never acted as an attorney for any
one in this process of liquidation.
Calls Past Not Wholly Secret.
you were trying to give the i'm
preston that the large number of
companies you had acquired an in
terest in were not controlled by the
Standard Oil Company of Ohio?"
'''I tried to give the status at that
time" ,.r.
Mr. Kellogg asked the witness II
he made 1t known to any one at that
time that he had an interest in the
companies included in the trust agree
ment of 1879, and If It was not fact
that this agreement was kept secret
while he was combining the com
panies.
Il cannot say, but | think 1t must
have been known to a number of peo
pie outside of those who signed it,"
replied Mr.. Rockefeller
Process Server Fooled.
There was lively scene in the cor
ridor of the customs house as Mr..
Rockefeller was leaving the building
at the conclusion of his testimony. A
process server tried to thrust a sub
poena into the hands of the Standard
OIL head, but a law clerk accompany
Ing Mr.. Rockefeller saw his purpose
and before the subpoena could be
served he pushed Mr.. Rockefeller into
an elevator. The elevator shot down
ward, carrying Mr.. Rockefeller out Of
the mans reach.