Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-11-25
Rockefeller Glad i
His Ordeal Is Over.
CONTINUED from Page One.)

| plication for an order restraining them
from exceeding their production limit
and to prevent them from building a
refinery in Buffalo?"
| LAS president of the Standard. it was
proper for me to sign such an affidavit
about the production of oil being ex-
ceeded by the company"
MIR. Rockefeller admitted that Scho-
field Schhrmer & Teagle may have
claimed that the Standard was trying
to obtain monopoly OF the refining
business in Ohio. T
| The witness said that a similar con-
tract was made with the Pioneer Oil
| Co. but he could not remember whether
| he stated in the contract that the
| Standard operated refineries only in
Cleveland and Bayonne. He understood,
| he said, that he had made an af1daIl II
in connection with this contract to the
effect that the Standard Oil Co. OF
| Ohio had not owned any stock of any
railroad of pipe lines.
You We're trying to give the impress
sion at that time that the large num-
! Der of companies you had acquired an
interest in were not controlled by the
Standard Oil Co. of Ohio?"
Il tried to give the status at that
| time"
Mr.. Kellogg asked the witness if he
| made it known to anyone at that time
| that he had an interest in the COM
| panies included in the trust agreement
| of 1879 and if it was not fact that
| this agreement was kept secret while
| he was combining the companies.
Il cannot say but I think 1t must
| have been known to a number of peo-
! pie outside of those who signed it
replied Mr.. Rockefeller.
rs it not a fact that Mr.. Archbold,
Mr. Flagler and others in 1875 and later
made af1idavits and public statements
that the Standard Oil Co. of Ohio had
| no interest in these subsidiary COM
| panies?
Il could not say anything about the
statements they may have made"
| Mr. Rockefeller did not recall il he
had made any affidavit that the Stand
ard had made contracts with railroads
whereby the Standard had obtained re-
bates for guaranteeing a certain vol
| ume of oil.
Didn't the officers and agents of the
Standard Oil Co. of Ohio at that time
control majority of the stocks of the
subsidiary companies with the idea Of
concealing their real ownership.
1T may have been that the proper
ties were owned by individuals VINO
were stockholders in the Standard Oil
Co. OF Ohio"
| Mr. Rockefeller said that he never
heard of the General Industrial de-
velopment Syndicate. Limited OF Lon
don, nor did he know whether the
| Standard owns the Manhattan Oil Co.
of Ohio.
| Mr. Kellogg asked Mr.. Rockefeller
| to find out who owns those companies
and also the London Commercial Print
ing & Investment Co. and the Security
Oil Co of Texas. Counsel for the
! Standard Oil Co. offered to furnish this
and also a list Of corporations obtained
by the Standard from 1882 to the pres
| ent time.
Mr.. Rockefeller in reply to a ques-
ton said:
Il may be a director in some rail-
road in the United States but at this
moment l do not recall road in which
| am director"
| Arc you largely interested in rail-
roads over which the Standard Oil Co,
is doing business"
ct am an investor l may have stock
in railroad company over which Oil
shipments may be made
Can you name the roads that you
| have bonds or stocks in the last 10
years."
LAS to bonds, could not say AS
to stocks not a great number of diff
ferent companies. l presume l may
| have stocks in six or eight railroad
corporations. My holdings are prin-
cipally in the bonds
Can you name the Railroads.&c.
II would prefer not to mention the
names These goOdly gentlemen at the
stock exchange over there would not
think it very wise. l personally should
not care to parade my interests unless
it is necessary to further the cause of
| Justice
Can you name the railroads."
| II could name the railroads. But it
would be more difficult to name the rail
roads in which 1 have held stock foH IL
years l dc not know of but one COM
pany that 1 have held stock in for long
period"
Mr. Kellogg told Mr.. Rockefeller chat
he could prepare list for submission
Mr. Rockefeller said that many of the
| stockholders of the Standard had taken
interests in railroads and that his broth
er William had preferred this form OF
investment. Mr. Rockefeller was asked
about the large amounts of money which
the Standard had loaned in Wall Street
and he replied that the Standard cono
not always obtain the amount OF money
it desired from banks and that ot neces
sity it kept a large amount of money
| which it loaned out but which could al,
ways be obtained. He understood thai
the company loaned about 100000 bu
TO sums larger than that.
IT should be protesting about my divi
dends il this company kept a large sur
plus beyond the necessary needs I once
wrote a note saying I did not think il
necessary to carry such large reserve
sums" he said. ''|
What railroads are you now interest
ed IMP
objection was made by counsel ant
Mr.. Rockefeller said he could not give {
statement about his holdings of bonds