The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-11-25
Oil Trust King Tells Where He
Invests Great Earnings of
His Company.
HESITATES TO DISCLOSE
NAMES OF COMPANIES
Examination of ArchbOld as to
Later History of the Trust
Is Begun. 3

NEW YORK, Nov. 24.-Closing his
testimony today IN the federal suit 10
dissolve the Standard Oil company. John
d. Rockefeller threw somo unexpected
light on the popular question into woat
channels OF Investment flowed his TIC
meDdous earnings from the oil cor,hi
nation, Mr. Rockefelle, was loath 10
state the names of the railroads In
which his investments were made. but
did so after entering his objection.
The head of the so-called oil trust de
clared that his holdings in railroads
consisted chiefly in bonds, and thai
with the exception of few roads IN
which he held only small amounts OF
stocks, he preferred the bonds ss a
form OF investment. Mr., Rockefeller s
appearance on the witness stand today
will likely be his last IN any court pro
ceeding. He appeared greatly delight
ed that his long ordeal as q witness was
over, and hurriedly left the "ooCi wnen
counsel excused him.
Fears Stock Brokers.
Mr.. Rockefeller said he did not think
that he should be made 10 tell the form
OF investments, declaring 'fthat the
gentlemen over there in tho stock eX
change might not think it very wise. "
After some legal contention BY conn
sell Mr.. Rockefeller said ne held stock
in the Delaware. Lackawauna s. West
crn, the New York Central, the Penn
sylvania, the West Maryland the Mis-.
souri, Pacific, the Texas Pacific and
the Colorado Southern. ETe said be
owned no shares in either tne Union
Pacific or Southern Pacific. Mr.. Rocke-
fall \ l, ,I k-. p-
of millions of dollars of surplus by the
Standard.
John ID. Archbold. vice.president Of
the Standard, proved mine Of detailed
information under tha direction Of tho
company's counsel. regarding the early
production OF crude oil and the devel'
opment Of the pipe line system Mr..
Archbold viii likely Ne on the witness
stand for several daYs. II" rave his
answers in q short prlsh mapnet. and
seemed possessed Of Infinite details OF
the STANDARD S business from irs iu-
ception 10 the present time.
Archbold Good Witness.
Mr.. Archbold beamad with satisfac
tlon in telling of the Standards early
history. His eyes twilklel when Le
told of the industrial fights: saying
that he kept close watcn pu lis com
petitor and then "trisd 10 heat him
L
well knit figure was OF compelling ant-
nation as he sat IN tue witness char.
He turned from side In side as If tc
watch each individual spectator IN tho
room, and every line OF MS smooth
shaven face showed thar he was kecnlY
alive 10 every development of thc pro
cecdings.
1t is not unlikely thst m adjourn
ment Will be taken tomorrow Ilght
until next MONDAY.
There was q lively scene In the corrl-
dor of the customs house as Mr.. Rocke
Teller was leaving the building at the
conclusion of his testimony late today,
4 process server tried to thrust sub.
poena into the hands Of the STANDARD
Oil head. hut law clerk accompanying
Mr.. Rockefeller saw his purpose. ana
before the subpoena could be served ho
pushed Nj Rockefeller into an eleva-
tor. The elevator shot downward, car
rying Mr.. Rockefeller out Of the man 2
reach The process server hurried tc
the street, but Mr.. Rockefeller had dis
appeared The man would not say
whether the suit in which ne wished IN
subpoena Mr.. Rockefeller was civil
action or one connected with the pres
cnt case.
Late Tor First Time.
For the first time since bT
has been on the witness stand
at this hearing, Mr., Rockefeler
was little late In arriving today.
Frank r Kellogg, the government
special assistant attorney general re-
sumed his cross.examination, taking up
the organization of the Standard OIL
cnmnany of New jersey where ha
ended il Yesterday Mr.. Kellogg read
what he said was list Of stocks OBJ
tanned by that company In 1899, Tor
which it had exchanged its own shares:
~f ,,l
Of 9S3.3s3 shares first issued were IN
the name of John D, Rockefeller Mr.
Rockefeller said he did not own 50
much stock as that, but did own 256,-
S54 shares of the Standard OIL COM
pany Of New jersey at that time, and
that he accepted the other stock and
distributed it to the proper stock
holders Of certificates of the Standard
Oil trust exchanged them for stock in
the Standard Oil company, of New Jer-
sey rather than accept shares of the
various subsidiary companies,
~ turned over my trust certificates
20 the limidating trustees, said MT.
Rockefeller, "and obtained Il paper on
stituent companies which | turned In In
the Standard Oil company OF New Jer-
MIR. Rockefeller declared that he
never acted as an attorney for any ono
in this process of liquidation:
Mr.. Kellogg stated that Henry W.
Flagler at first received $4,000 shares,
and later 79.430 shares additional. Mr..
Rockefeller said he thought Mr.. Flagler
did not own any such amount of stock,
but be could rot say whether he ac-
ccpted it for purposes OF distribution.
His Memory Fails.
Mr.. Rockefeller was asked ii he
entered contract with Schofeld,
Schurmer and Teaglc in 1876 whereby
Continued on Pano Seven