The Marion daily mirror. (Marion, Ohio) 1892-1912, 1908-11-24


"The stock OF the Acme was held
by several gentlemen"
"Was the stock of the Acme &C.
quired In the same manner as the
Standard Oil company Of Pittsburgh"
II could not say"
"What became of the stock of the
Acme OIL company on its organiga-
| tion?" hF'Eh l.l 5-h
"It was held by individuals
should say Mr.. Pratt, Mr.. Archbolt
land Mfr. Frew, and held until Il
was tarned over to the trustees, n
lVias, Keith and Custer"
4 "Whom did the individuals hold
This Acme OH company stock for?"
For the benefit of the stockhold.
ers of the Standard Oil Company of
Ohio with the exception Of some
shares for smaller stockholders.
should say that 1926 900 out of $780,
600 was held for the Standard"
Mr.. Rockefeller said that the Acme
oil company undoubtedly was operat.,
ed as an independent concern until
after 1882 and that John D. Arch, ,
bold maraeed II for a time He did o.
rot know when Mr.. Archbold became, .
2 stocfhobler IN the Standard. He ,
had nothing to do with the nesotla. ''
tions for the purchase Of the Ameri. s
can Luhricatine ON companv and tho
Nica Axle Grease company 4
Cleveland hut thouPht that none NJ
the members or those companies
became Stockholders in the Standard
Whichever stock in the EmDire
TRANSPORTATION companuy was owned
by Some & Fleming, was purchased, +,
by the STANDARD. But Fleming a
Sons continued to operate as an in. .ts
deDendent concern. I.r. 4f 1ata,ls a.it g.
The trust agreement of 1879. MIR
Rockefeller said was made for the
purpose OF holdi1S some storks for =,
the benefit Of the individuals, for
whom they had been acquired Mr..
Kellogg asked whether the stock
wer" held for the Standard or for
individuals and Mr. Rockefeller said
j" rhonld iu1pe that the STAMFORD
on ccmr4nv he,I tho certificates
y ~" HHWeS oI individuals
"Tbe o9recsnNrt nr-yides that the
trnstees shan distribute the stock tn r.
tn" individual owners" said Mr..
Kellogg. o.. a.... 'H.
"It turned them over To the -
Standard Oil trustees" replied Mr.
Rockefeller.
Who got up this Standard OH
trust?"
81 should saw that II. NJ Flag,
Ter and s. C.. T. Dodd should have
the credit. I am sure II was no,
l. am not so learned IN legal
matters as that. 4 don't cain any s
credit. for Mr.. Flaglcr and Mr..
Dodd should have fun credit"
After fine recess Mr. Kellogg be- y
gau 0uastiorirfr Mr.. Rockefeller
ar1ut the trust aqreement OF 1889 i,
br. Rockefeller said that the total
value Of 80 corporations included IN =.
The trust was approximately s7O.- a
200 900 and that each OF the stock
1clders named in the trust agree
nent received certificates for the
lmount OF stock OF subsidiary com.
1anies which he owned
AIr. Kelloe s9id that efforts were s
made by the government last yeo~ n '-
secure possession of the books
showing how these certificates ws,s
iietrihutoi and asked M~. Rookie
'eler 10 mako a sear,h for them
md also the stock 'qdRer showing 4,
ranstcTs Of stock. Mr.. Rockefeller
'oDlied mat he woul1 do ANYTHING g,
'e could. but he did not know where
he books are. -'"a
He eoid that the standard on ~,
rust was dissolved in 1892 in
obedience to an order, Of the nhla.'a
'burts- majority of thee stock y
lFld by the trust waar distributed ia,
q the ihdividual stockholders hut I,
he trustees continued 20 tod esal
area numher Of shares which were Ne
TO- lldDidated at first 51ma 7 7t.w
The etandprd O'l trust was dis. ~
.'lved W., Rockefeller said, rs fast
&c t'te individuals came in and re- "a
oivel their stock Mr.. Rockefeller az
md ". II. Rogers were among those
Who surrendered their TRUST rertifi %
'ates and obtained stock in the
'riGinal c0mnany, he said.
From 1892 to 1899 the subsidiary q
companies were conducted by their
arous officers and boards of diree-,
ors elected by their own stock
ohCTs.
ReDlvinI9 to questions about the =,
cduisitIons OF pipe lines OF the
tandard oil company, MFR, Rookie i,
rller said.
~ did not construct the first pine
mes for transportation of oil. Quite "s
number of lines were constructed
cfore We began to buy these lines
ntil 1873 or 1874" '''F
II might be he said. that the
company built the first W
IND line TO the seaboard, but he Z
i'd not recall that the Standard