The evening world., 1908-11-30
/. OIL TRUST RAN
WATERS-PIERCE
CO. UNTIL 1890
J. D. Archbold Causes Sensa-
ton, Follows 1t With an
Explanation.
IS INDEPENDENT NOW.
Standard Gained Control by
Buying Up a Louisville
Concern.
is INDEPENDENT NOW.

John D. Archbold. at the afternoon
session Of the Standard OH hearing to-
day, gave the Waters-Pierce Oil Co. a
clean bill of health. so far as the Trust
10 concerned.
When Mr.. Archbold took the stand
before Referee Ferris In the Customs
House to-day, he caused a sensation by
admitting that the Standard OIL once
had an interest in the Waters-Pierce
Co., although on numerous occasions
high officials have denied that fact.
After luncheon, and a period of calm
reflection. Mr.. Arehbold admitted that
at one time the Trust had controlled the
waters-Pierce Co, but added that since
1890 II has been ruled by an independent
company,
At the morning e-sion Mr.. Archbold
said:
'Tn 1852 we owned percentage In the
Chess-Carley Company, of Louisville.
KY, which did a big business all over
the Southern States. Its capital stock
was 100000.
Having owned a percentage from
lsS2 to 1856. We bought in the rest of the
property and transferred II to the
Standard Oil Company Of Kentucky.
'Tn addition to various markets,
plants and depOts the Chess-Carley
C6mpany's property included mt
that time 20 per cent. OF the stock
Of the waters-Pterce OIL Company.
"Thts stock was distrib uted to
the shareholders of the trust
agreement in the form of divi-
Sends in 1855 or 1885,
And there MI. Archbold stopped He
did not explain how stock can be dis
tributed as dividends. Mr.. Kellogg, how
ever. will probably seek information on
that subject when the time arrives to
cross-examne.
Only Small Crowd.
When he resumed the stand at p, NJ.
Mr.. Archbold reeled off a long list of
companies that figured In the Trust
agreement OF 1882
THE last one named Is the Waters
Pierce Company" said Mr.. Rosenthal.
What was its capital stock in 1882"
zone hundred thousand dollars-1,OO0
shares
What part OF tnls was there owned
BY Standard Oil INTERESTS
Forty per cent. In addition the Chess
Carley Company owned 20 per cent and
~ / have already testified. we had an
interest the. in the Chess Carley Com
pany. The Waters Pierce Company had
originally been formed in 1878 by Stand
ard Oil interests and other interests 1t
owned properties in Missouri, Arkan-
sas. Texas and Oklahoma. Subsequently
the capital was increased in 1850 to $780,
900, of which the trustees under our
agreement and the Chess Carley Com
pany had the controlling interest The
company remained in the trust agree
ment until 1890. when the properties
were scd back to the Watcrs-Pierce
Company. concern taking the name
Of the original company from whom the
plants. etc, had originally been acquired
prior to tile trust agreement"
Only a small crowd, comparatively, at
tended to-days session in the hearing
having for its purpose the dissolution
Of the Standard OIL.
1t was II O'Clock when Mr. Archbold
strolled in. He had been due at ASV,
AZ soon as he took his seat LAWYER
Morris Rosenthai resumed the Job 81
questioning MIN about the early history
OF the compan" when pipe lines, rebates
and trust agreements we're In their lusty
infancy.
Rosenthal led of by directing the wit
ness's attention 10 the first trust agree