The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1908-11-27

ORDEAL IS over
Examination Of Oil Mag
nate Concluded.
TELLS OF STOCK HOLDINGS

- VI lNCdIJy SSlS-sttO SVt0I
Standard Oil shares-Questioned
Closely About Certain Trust Deals.
New York, Nov. 25.-For the first
time since he has been on the witness
stand at this hearing John D. Rookie.
Teller was a little late in arriving.
Frank B. Kellogg, the governments
special assistant attorney general, re.
sumed his cross-examination, taking
up the organization of the Standard
! Oil company of New Jersey. Mr..
Kellogg read what he said was a list
of stocks obtained by that company in
1899 for which it had exchanged its
own shares. He said that 442, 797 out
of a total of 983,383 shares first is
sued were in the name of John D.
Rockefeller.
Mr.. Rockefeller said he did not own
SO much stock as that, but did own
zee, 1854 shares of the Standard Oil
company of New Jersey at that time
and that he accepted the other stock
and distributed it to the proper stock
holders. He added that frequently
holders of certificates of the Stand
ard Oil trust exchanged them for
stock in the Standard Oil company of
New Jersey rather than accept shares
of the various subsidiary companies.
Mr.. Rockefeller was asked il he en-
! tered into a contract with Schofield,
Schurmer & Teagle in 1876 whereby
the firm agreed to limit the business
of it's refinery in consideration of Ger.
tain payments by the Standard. Mr..
Rockefeller replied that such a con-
tract had been entered into, but he
did not recall it's provisions.
did the Standard bring a suit in
Ohio in 1850 against Schofield, Schur-
mer & Teagle to prevent it's refining
over $4,000 barrels of crude oil a year
and to prevent its acquiring an inter-
est in a Buffalo refinery"
There was some litigation about
the refining of oil. l recall nothing
about the Buffalo refinery"
"Did you not personally make an
application for an order restraining
them from exceeding their production
limit and to prevent them building a
refinery in BuffalO?"
"As president of the Standard it
was proper for me to sign such an.
affidavit about the production of oil
being exceeded by the company"
Don't you recall that in the answer
of Schofield, Schurmer & Teagle they
set up the claim that the Standard
was trying to obtain a monopoly of
the refining business in Ohio and that
this agreement was part of the con-
spiracy to such an end?"
II could not state from my recollec-
ton, but l assume that they probably
did not fail to state everything they
could think"
Other Like Contracts Made.
The witness said in reply to other
questions that a similar contract was
made with the Pioneer Oil company,
but he could not remember whether
he stated in the contract that the
Standard operated refineries only in
Cleveland and Bayonne. lie under
stood, he said, that he had made an
affidavit in connection with this on-
tract to the effect that the Standard
Oil company of Ohio had not owned
any stock of any railroad or pipe line
"You were trying to give the i'm
preston a, that time that the large
number of companies you had &C
quired an interest in were not con-
trolled by the Standard Oil company
Of Ohio?"
Il tried to give the status at that
time"
Mr.. Kellogg asked the witness If he
made it known to any one at that
time that he had an interest in the
companies included in the trust agree
ment of 1870 and if 1t was not a fact
that this agreement was Kept secret
while he was combining these conn
panies.
II cannot say, but l think it must
have been known to a number Of peo-
pie outside of those who signed it,"
replied MI. Rockefeller.
"Is it not a fact that Mr.. Archbold.
Mr.. Flagler and others in 1875 and
later made afidavits and public state
ments that the Standard Oil company
of Ohio had no interest in these sub
sidiary companies?"
81 could not say anything about the
statements they may have made"
Mr.. Rockefeller was asked If he had
not made an afidavit that the Stand
ard had made contracts with railroads
whereby the Standard had obtained
rebates for guaranteeing a certain
volume of Oil. He did not recall.
Didn't the officers and agents Of
the Standard Oil company of Ohio at
that time control a majority Of the
stocks Of the subsidiary companies
with the idea Of c%oncealing their real
ownership"
ut may have been that the proper
ties were owned by individuals who
were stockholders in the Standard on
company Of Ohio @
Mr.. Rockefeller, In reply to ques
tions, saidsh owned stock and bondsS
In half . dozen railroads. He waag
then excused and was followed On
the witness stand by John D. Arch
bold. vice president of the Standard
Oh company. sSs