Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-11-25
Oil King Closes Testimony With
Some Interesting Information
Concerning His Tremendous
Investments,
ARC HBOLD SUCCEEDS
CHIEF AS WITNESS
Vice President of Standard Oil
Tells of Early Struggles of
Great Corporation With It's
Competitors.


] I 'N~' -
tBy Morning Journal sDecIai LEASED Wlrel
New York, Nov 24-ClosinG his
1 testimony today in the federal suit to
dissolve the Standard oil company OF
New Jersey. John d RockefelleA
/ threw some unexpected light on the
popular question into what channels
of investment flowed his tremendous
earnings from the oil combine Nh
Rockefeller was loathe to state the
names of the railroads in which his
/ investments We're made but did 50 af
ter entering his objection. The head
of the so-called oil trust declared that
/ his holdings in railroads consisted
chiefly in bonds, and that with the
exception of a few roads in which he
held only small amounts Of stocks, he
preferred the bonds as Il form of in
vestment Mr. ROckefcller's appear
ance on the witness stand today will
likely be his last appearance in any
court proceedings, He appeared
greatly delighted that his long or
deal as a witness was over. and hur-
riedly left the court room when coun-
sci excused him.
Mr.. Rockefeller said he did not
think that he should be made to tell
the form Of investments, declaring
that the gentlemen over there In
the stock exchange might not think
it very wise " After some legal con-
tention by counsel Mr. Rockefeller
said he held stock in the Delaware
LaCkaWanna a Western. the New York
Central, the Pennsylvania the West
ern Maryland, the Missouri Pacific
the Texas Pacific and the Colorado
Southern. He said he owned no
shares in either the Union or South
ern Pacific Mr. Rockefeller said hoI
was opposed to the keeping of mil
lions of dollars Gr surplus by tha
standard
John ID, Archbold. vice president
of the Standard proved a mine Of de-
tailed information. under the dircc- /
tion Of the company's counsel re- /
garding the early production of crude .
oil and the development Of the pipe .
line system Mr. Archbold viii likely |
be on the witness stanc for several
days He gave his answers i'm short.
brisk manner and seemed possessc1
of infinite details of the Standards
business from its inception to the
present time
Mr.. Archbold beamed with salts
faction in telling of the Standards
early history His clear blue eyes
twinkled when he told of the indus
trial fights, saying that he kept caro- L
ful watch on his competitor and then
tried to beat him" Fairly short of
stature, Mr.. ArchbOld's well known
knit figure was of compelling animu-
tion as he sat in the witness chair t3
He turned from side to side as II to 5
watch each individual spectator IN {
the room and every line of his smooth
shaven face showed that he was keen {
~ alive to every development of III.
proceedings L
1t is not unlikely that an adjourn !
ment will be taken tomorrow night "
until next Monday.
For the first time since ne has T.
leen on the witness stand at this hear e.
ng, Mr. Rockefeller was a little lats
n arriving today Frank b. Kellogg, g
he governments special assistant at y
Orney general, resumed his cross-cX-
taking up the organization il
If the standard oil company Of New "a
Jersey, where he ended il Yesterday. q
Mr. Kellogg read what he said was "a
list of stocks obtained by that com
)any in 1899. for which 1t had cN- q
hanged its own shares.
He said that 442,797 out of total a
# 9S3,3S3 shares first issued. were iu
he name of John u. Rockefeller. MI. 81
Rockefeller said he did not own so a.
much stock as that, but did own 256, 81
"a shares OF the standard oil COM h
'auy Of New Jersey at that time. and
hat he accepted the other stock and
distributed it To the roper stockhold- 70
RS. He added that frequently hold q
r. of certificate of the Standard oil n
rust exchanged them for stock Ia the 81
oil company. Of New Jersey u
ather than accept shares OF the vari- 90
us subsidiary companies.
Il turned over my trust certificates Il
o the liquidating trustees" said Mr. n
rockefeller. "and obtained a paper on
which { secured shares in the constit- u
ent cOmpanies which ! turned into {;
he Standard Ou company of New Jer- b.
ey." u
Mr.. Rockefeller declared that he
ever acted as an attorney for any Ia
ne in this process Of liquidation. s
Mr.. Kellogg stated that Henry NJ. a
'lagler at first received 2S,000 shares n
nd later 1850 shares additional IT
IT. Rockefeller said he thought Mr. r..
'lagler did not own any such amount -
T stock. but he could not say wheth-