The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-24

in legal matters as that. I don't claim
any credit. for Mr. Flagler and Mr.. Dodd
should have full credit.
Mr. Rockefeller said that the various
committees In the Standard Oil agree
ment In 1882 were managed as separate
and Independent corporations.
Recess was then declared and one of
the reporters handed to Mr.. Rockefeller
the following written question:
DO you think you could receive i'm
munity from prosecution because your
testimony in case proceedings are brought
later?'
Mr. Rockefeller leaned over as if to
whisper to the reporters and said In a
loud tone: Please tell them 1 am not in
Are you tired of the examination p
! he was ASKED.
1T does not pay to complain. One will
live longer ard better II he does"
Trust Agreement.
Kellogg questioned Mr.. Rockefeller
about the trust agreement of 1882 and
about the owntrship of the stocks held by
this trust Mr.. Rockefeller said that
the value of the 80 corporations included
in the trust WAS approxiruat ely s7o,00O,oOO
and that each OF the stockholders named
in the trust agreement received certif-
/ icates for the amount of stocks of sub
| sidiary companies which he owned. Mr..
1 Kellogg ,lid mat efforts were made by
| the government last year to secure pos
| session of the books showing how these
| certificates We're distributed and asked
| Mr.. Rockefeller to make a search for
| them and also Tor the stock ledger show
| ing transfers Il stocks.
Mr.. Rockefeller replied that he would
do anything he could but that he did not
| know wnere the books are. He said the
| Standard Oil trust was dissolved in 1892
| A majority of the stock was distributed
! to the individual stockholders, but the
| trustees continued to hold a large num-
! Der of the shares which were not liqui-
dated at first. The Standard Oil trust
was dissolved, Mr.. Rockefeller said, as
! fast as ;he Individuals came In and re-
| ceHed their stock Mr.. Rockefeller and
! H. II. Rogers were among those who
| surrendered their trust certificates and
| obtained stock in the original company,
| he said. Mr.. Rockefeller did not recall
| at frs. that the trustees did anything
while the liquidation OF the trust was In
progress hut Mr.. Kellogg called his at
tention to his testimony given in the con-
tempt proceedings in New York in 1898,
| where Mr. Rockefeller had testified that
| the old trustees did vote the stock which
| had lot been li4uidated. Mr.. Rockefeller
| said he Understood that was true. After
| the dissolution of the trust the stock
| holders of the individual companies. he
said, maintained the same relations as
! before with those who we're still In the
trust. The Standard Oil company OF Ohio
and the Solar Refining company were
among the the competitors of the trust
| after the dissolution. Mr.. Kellogg then
read Mr.. 1oekefeller's testimony in the
| Ohio proceedings In which he said the
constituent companies were absolutely in
| dependent of the trust after the dissolu-
| ton.
Company Independent.
M Rockefeller said he had testified as
Mr.. kellogg described II the record
| showed it.
Then each company vas independent
/ after the dissolution" asked Mr.. Kellogg.
| Yes"
| "The sale of its product was made as
before and the administration of its af-
| fairs was Independent. The Standard
| Oil company of Ohio sold oil where it
would be to its best advantage"
Eventually, Mr.. Rockefeller said, all of
the stock of the subsidiary companies
was distributed.
WAS this before the organization of the
Standard Oil company Of New Jersey?''
asked Mr.. Kellogg.
That I could not say"
| Mr.. Rockefeller said several companies
were doing business of an independent
| character separately administered, add
irg:
II suppose these companies today, all
owned by the same people, would be con-
Quoted for the best interests of the bust
ness"
Ibid YOU intend to convey to the au-
thorities of Ohio that after the dissolu-
ton of the trust the separate companies
were held together as before?'
II cannot recall, but the companies were
then, as now, under separate owner.
ship
Mr.. Rockefeller said he did not know
when it was that the trust certificates
were finally retired.
Buying and Selling.
THE trust certificates were not turned
into the Standard Oil company Of New
Jersey?" asked Mr.. Kellogg.
"I think So" said Mr. Rockefeller. "
bought my stock in the small companies
and received my stock in the STANDARD
Oil company of New Jersey"
Replying to questions about the acqui
sition of pipe line stock Mr.. Rockefelle
said:
IT did not construct the first pipe line
for transportation of oil; quite a mum
Der of lines were constructed before w
began to build and buy. We did not begil
to buy these lines until 1873 or 1874" |
might be. he said, that the Tidewate
company built the first pipe line to tn
seaboard but he did not recall that tn
STANDARD tried to buy the Tidewater, o
that the Standard now owns 81 per cen
of the Underwater company, He had n
recollection of a conference with MI
Lombard on the subject of taking owe
Lombard & Ayers for 100000. or O
an offer of 100000 for his pipe line
Neither did he remember trying to ge
, control of certain refineries that he'll
stock in the Tidewater company.
Rockefeller Is Tired.
Mr.. Rockefeller seemed weary at thi
point and counsel for both sides agreed t
an adjournment until tomorrow, but MI
Rockefeller said he could continue for
. few minutes longer and asked If hi
cross examination would be conclude
| tomorrow morning.
Mr. Kellogg said he hoped so.
Mr.. Rockefeller testified that he di
} not know how the stock of the Tide
water company came into the possessio
of the Standard Oil company, as tha
: I was a line of business that he was nc
giving his attention. He could not re
call that there was a cut In railroad rate
when the Tidewater company built II
: line to the seaboard, nor did he remembe
that the Standard Oil company obtaine
of the United States pipe line, or whei
: the pipe line of that company begins an
ends. He said he did not think that tn
Standard OIL company built the first o
refinery, and could not say whether
built the first tank car or tank steame
hut thought it built the first barrel fa'
, tory for making oil casks.
well, then, the Innovations you mao