Daily press. [volume] (Newport News, Va.) 1896-current, 1908-12-03
TRUSTS PROCESSES
STILL UNOER PROBE
l'chbo|d GlVss Interesting |es|i'
mony Regarding s'anda'1 O|s
Loans 10 Independents.
WHY AiN JE2tEY IS TUT S HOME
Witness Admits Greed for More Bust
ness Ted to Absorptive Methods Az
ter Standard Already Controlled o.
Per Cent. Of Country's Trade-Say-
No Ulterior Motive.

(by Associated Prcss)
NEW YORK, Dec. "-Th" pro
c..srs through which the star Jar!
Oh Truss WAS iiQ>;idAt"d ahd Is lhlf'>
subs :dia!v companies hrn|@hi Nlih'E
control OF the pres. II. Stal1afh VI!
Company Of New Jersey. WI" d'-
\,lnprd IL interesting t"stln"n! 10
Gay hv John u. Archhn!i. under 'I"-'-
examination in III" F>d' raj SUI; :"
III. :oiyr the STANDARD.
Mr. irchhuid d, c!ar,d thai IN"
trust had been IiQuidatrA III t'''
period ut years rom - TO '>"''
with al, yCoh filth 20 oi"y III" man
dates Of tn, OHIO Snlrrm" Corr or
d.:iny tn" rust dissolved.
No Ulterior Motive.
There was no Interior motive in iii"
tar, ,ha, only abou, titty-on" pc" cent.
OF th.. t-us: certificat' were iiuuiiat-
"a in;u he. stocks OF the subsidiary
compani., said Mr.. ArcAbold. Sn2"
holders declined to liqulda't. prefer
rim. 10 retain heir certificates. which
had a mark, value. rather han 70
obtain intinircs m;.ly smaii parts II
..
Mr.. Archhold made il plain that tn"
Standard Oil Company, Of New J"!-
scv had been selected as the hoidlh5
company because the laws of Ne"
Jersey were lenient in thier treat
ment of corporations All of the trust
certificates af,er Obtaining their pro
rata shares in the subsidiary compa-
MI S were turned into IN" New Jersey
company and received their proper
Tomato amount of stock. The stand
ard Oil Company of New Jersey. IN"
rr, SEN holding company i tn" com
bination which the government Is
eking % dissolve.
Light On Loans.
Mr.. Kellogg. for the government
succeeded in throwing light on the
loans made to r. VI. Barasdale. Of
Pittsburg. an indepe ndeni oil produr-
tr.
Mr.. Archbold test.ti,d that loans
aggr, 2atinc S7.5"".oo" had been MAZE
to Mr.. Barnsdale to enable h m 10
continue his OF! operations in various
parts Ct the country. A part or me
ccntract for the loan waS 'har all
the crude oil produced by Mr.. Barns
dale should be carried in the Stand
ards pipe lines.
Mr.. Archroll testified that former
Congressman Joseph {. Slble o.
Pennsylvan:a. was identified with the
Gatena Signal Oil Company. a sub l.
diary OF The Standard 1t w2s to MIR
Sibicv that Mr.. Archlold address !
MANY of his letters which were MAJ"
public during the recent presidential
campaign.
Wanted More Business.
Mr.. Kellogg read statement. pur-
porting to give, the percentage Oh
domestic business of the Standard be
tween 1894 and 1898. which averaged
abOUt 50 per cent.
Assuming Ihat the Standard did ~
Per cent. in 1895. why did you acquire
additional refneries? asked IT, eX-
aminer.
THAT was done to succeed 10 their
business.
Mr. KelioCy en!eavO-t d to show
that the Standard instead of develop
ing its own business by its own ell
forts. took over comp ;itOrs and in
that uav increased its own business.
Mr.. ArctbOId said tina: J. c. Sibiey
orca 1izrd the : gnal on Company ana
that Charles l.. Miller developed IN"
Ga'cra Company. Lat'r the Standard
bouch: in both companies and com
bined them the Ga ,rna sigma Com
ranv which continued Ter the d.
rec ion Of Mr. S'blry and General
Miller both Of whom held minoTfi
interest, in the company
Absorbed Refining Company
MIR Archboli said mat in 1881 ne
hid acquired control e tn Emrir"
Refining Company and held the stock
for ;hc b,ncft Of IN" S'anisri :
stockholders
Replying to questions put y? NJ.
Kellogg. Mr. Archto'i said he did
not know the nemrs % N" individual =
who he'd the s:0cF- of the various
smaller companies bcfor" The agree
mcnt of 1879 He SAID he did No
know whether til owners Of the mt
nor COMPARES had been taken into
hr STANDARD as owners or not.
j notice" said Mr. :s"i:oE-. that
tho balance she', cf the trustee
showed tho valua ion Of the rlan''
wa $s5 .O"0 .o0a for which s1?.""".ooD
m certificates were - cd
I.norsnt About Balance Sheets.
y don't know abou: the baIanc"