Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-01
RESUMES THE STAND
ArchboId Goes on With His
History of the Standard.
MAY FINISH TALE TODAY
Several Days to Be Taken for Cross
Examination.
WILLIAM ROCKEFELLER NEXT
Testimony Carried Through the
Liquidation Stage and Brought Up
to the Holding Company.
MAY FINISH TALE TODAY
WILLIAM ROCKEFELLER NEXT

NEW YORK. December 1.-The thread
of John d. Archbold's narrative of the
building of the Standard Oil Company.
which has described in successive steps
the early and competitive oil companies
and narrated the story of the trust period.
carried the testimony today through the
liquidation stage and brought it up to the
holding period of the New Jersey Company.
Counsel for Mr.. Archbold said they hoped
to be able to finish the direct testimony
of the vice president of the Standard to-
day. Governments counsel probably will
take several days in the cross-examina-
ton of Mr., Archbold. who probably will
be followed on the witness stand by VIII
liam Rockefeller.
Mr.. Archbold read into the evidence a
statement showing the number of market
ing stations of the Standard constructed
since 1890. as we'll as the total number of
marketing stations. The witness said that
when the Standard Oh Company of New
Jersey was organized in 1882 it took over
the ref1neries and real estate in New Jer-
sey owned by the Standard of Ohio. The
property taken over was valued at $1,000
Oc0, and there was 81 900. go in cash fur
nished by the trust. The Standard of
Ohio turned over to the Standard of New
York $500, 600 in property and 100000
In cash.
The Liquidating Period.
From 1882 to 1892. Mr.. Arctpld said.
he was a trustee, and from 1892 until the
trust was liquidated In 1899 he was a
liquidating trustee. Of the liquidating
period Mr.. Archbold said:
1.-The principal holders of the trust GER
tif1cates. constituting a majority Of the
shares. turned in their certificates and
received their shares in the twenty sub
Sidiary companies. A request was made
of the small certificate holders to turn in
their certificates, but they did not. and
there was no way by which they could be
compelled to do SO. Some of the smaller
holders accepted assignments Of legal In
holders wanted their certificates. which
had market value. There was no mar
ket value for the stocks of the subsidiary
companies at that time"
Some Of the stocks of the subsidiaries
had never been on the market, said Mr..
Archbold.
A statement showing directors and Of
1cers of the twenty subsidiary companies
of the Standard from 1892 to 1899 was
placed on the record.
New Jersey Capitalization.
Mr.. Archbold said he was party to
the final liquidation of the trust in 1891
and to the increase Of the capital stock
of the Standard Oil Company Of New Jer-
sey to $110,OOo,0OO. Mr.. Archbold said
the capitalization Of the New Jersey
company was fixed to take over the trust
certificates and allow a little margin over.
The capitalization was large enough to
take over all the stocks Of the subsid-
larry companies held by owners who had
liquidated these trust certificates.
In explanation Of the modus operandi
Of the liquidation Mr.. Archbold said that
he turned In his certificates in the trust
and received assignments OF legal title,
for which he received stock In the twen-
ty Subsidiary companies. These stocks
Of the subsidiaries Mr.. Archbold hold
from 1892 to $780, when he turned them
into tho Standard Of New Jersey. re-
ceiVfng stock In tho same equivalent as
his share holdings In tho trust.