New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-11-25
ROCKEFELLER BALkS
AT GIVING HOLDINGS
SAYS HE FEARS EFFECT
ON WALL STREET.
Had Protested against Carrying So
Big Surplus John ID. Arch-
bold FOILO1cs Him.

over the railroads Frank 3. Kellogg. govern
ment counsel in the suit TO dissolve the New
Jersey trust led John D. Rockefeller through
devious paths Of financial operations TO get an
out and out declaration yesterday.
The end Of the cross-examination. oe2ors
Franklin Ferris the referee. IN the Custom
House was near. and John D. Archbold, the
vice-president of the company. was waiting al
No. % roadway to be called. Mr.. Kellogg aV-
peared TO want 10 know about Mr. Rockefeller
railroad Investments but acted rather ttmorous-
ly and the witness was Ioath to tell He SAID
he feared the news might disturb Wall Street
Il could name a number OF railroads in which
1 am interested" he said. IL I am required to
answer but Of course these gentlemen from
Wall Street over there Cwaving his right hanl
at the spectators at the end Of the, room might
think that l was not very wise have no per-
sonaI reasons for not stating it, though should
prefer. not TO parade my individual Investments
unless it is going to further the cause OF justice
here"
But Mr.. Rockefeller did disclose where he had
invested some of his money. He denied en-
phaticaIIy that he had ever used his holdings tn
influence the common carriers to favor his COM
pany. and John @. Milburn in his redirect ex-
animation got him TO repeat this. The witness
also said that none Of his associates. presaming
that they held railroad stocks oonds- had
ever manipulated railroad interests for ulterior
purposes, so far as he knew
That the records should have it clear. Mr..
Mlburn got the Standard Oil president to ex-
plain show it came that he was subposnaed. He
sUbpenaed. he said to appear witness
for the Standard OIL Company OF New Jersey.
Solely because of that. he said, did he testify,
and when Mr.. Kellogg asked him who issued
the subpoena Mr. Rockefeller said that he did
not know. that one had consulted him about
the case.
CONTRADICTS HIMSELF
There were frequent efforts on the part OF :hs
government counsel TO get the witness to con-
tradict himself and this was accomplished when
the agreement with Schoheld. Schurmer q
TeagIe. of Cleveland, TO limit their production
and profit brought up In affidavit az
the time-1SSO-Mr. Rockefeller said that ths
Standard Oil Company Of Ohio had no other re-
fneries or interest in any other ref1neries ex-
cept those at cleveland and at Bayonne, y. J.
This was modified somewhat by a declaration
that he could not state from memory whether
he had made the affidavit. and by cartier E=-
mark that those interested in the Ohio COM
pany were interested in other refnsriesl but that
the Standard. as the Standard. not
The witness would admit that he had
made effort To keep the trust agreement OF
1879 a secret and his counsel came TO the rescue
by saying that there were so many persons sig
even if such had been the wish OF those princi-
pa1Iy concerned
In regard to the suit which followed the agree
nent with Scofeld. Schurmer < TeagIe. brought
by the latter. Mr. Kellogg read part Of the
complaint and asked Mr.. Rockefeller whether
the accusations were true He said
Il could not state from my recollection. but
assume that they probably did not fail in such
a paper to put in everything they could think
of, or their attorneys for them"
STANDARD AS A MONEY LENDER
The Standard Oil Company was lender OF
great sums of money. Mr.. Rockefeller admitted.
but he would not agree with Mr. kellogg that so
great sum as $1UOO00OtO had ever been lent
in Wall Street He said that S32,OO0OOo had
been the maximum. and that he knew Of loans
of $5.OOoOOO and S1OO0U.OCG. and even greater
sums Asked about the large surplus the
Standard carried. he said:
Il wrote a note. made inquiry TO
whether they could not get along with the busi-
ness and not have so much money beyond the
necessity of its dividends That within
wear or two: but according to the best judg-
ment of the men who are most familiar with ths
requirements of funds 1t was necessary
Mr. Rockefeller was on the stand for hfteen
minutes in the afternoon When Mr.. Milourn
said that he had finished the witness remained
Suddenly he aroused himself leaned far for
ward and asked in a semi-pathetic voice:
Must I go?'
You are not compelled 10" was Mr.. NIL
burns response. and then. amid general laugh
ter Mr. Rockefeller left the long. narrow room
where he had been a witness for two days and
half He spent half a day in the small room
where the general hearings were held before 10
was called.
Mr. Kellogg reserved the right 10 call Mr.
Rockefeller for further cross-examinationL -
is understood that after he IS through with Mr.
ArchboId whom he will lead over some Of the
testimony given by Mr.. Rockefeller, he viii
want the latter TO clear up some of the things
he failed to remember.
ARCHBOLD ON THE STAND
Mr.. ArchboId followed Mr. Rockefeller. He Ia
short of stature alert bald. but with well set
fringe Of hair we'll above his ears and few
straegIers on the crown. His eyes fairly
sparkled with eagerness 10 see and penstrats
the purposes Of the opposing counsel
He told of his advent in the oil business from
a general store in Salem Ohio. and his rapid
progress Moritz Rosenthal the trusts counsel.
got him to tell Of the pipe line history Of the
Standard from the beginning. bringing IL up to
the present time. when the company and its
subsidiaries own lines from the Indian Terri
tory to the Atlantic seaboard>
In the story Of oil prices and how they are
Fixed Mr.. Archbod said that there were stored
TO-DAY more than SOOOO,OO0 barrels OF crude oil
in tanks in the various great fields. held BY
producers or spectators awaiting the time
when the Standard calls for IT. and represented
an investment OF S2OOOOOOO. He said that the