New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-11-27
OILCOUNSELDE ART
SETTLE ON APPEAL.
Jersey COmpany's Part an
Scheme of Reorganization.

Counsel fer the Standard oil Company
came to this city in a solid phalaEx follow
ing the adverse decision Of the Circuit
Court in the government suit 10 dissolve
the trust. They began 20 depart yesterday
one by one. The conference on the appeal
to be made to the United states supreme
Court. it was SAID. had been ended.
Virgil T. Kline. + Cleveland, one OF the
veteran counsel OF the Standard company,
left the Hotel Albemarle soon after noon
for his home. John C. Johnson. of Phila-
delphia, departed. to be on call II luTther
advice should be necessary. Moritz koSen-
thai. Of Chicago. was on his way across the
Atlantic. and David q. Watson, of Pitts
burg, had returned t. his home.
This series of departures left Mortimer
T. Elliott the general counsel. and John
G. Milburn, the special counsel, here 10
oversee the preparation of the appear
papers Mr. Nflburn. Mr.. Johnson, Mr..
Rosenthal and Nj Watson argued the case
in ST. Louis in April Mr.. Elliott. of
course. is familiar with the case i'm all It's
bearings He has many assistants who
Will aid him in the drafting of the appeal
and when the papers are ready for the
printer "A copy viii be sent 10 all VINO were
at the conference for suggestions and ap-
prevail.
There are still twenty-three days left be-
fore the papers must be filed. AIr. Rosen-
tha! Will lay tentative plan Of appeal be-
fore the European interests. II was said
yesterday IL was also reported that he
would confer with the foreign interests,
which are said 10 be influential and large.
regarding the scheme Of REORGANIZATION.
This scheme. il was said will not have the
least element OF an attempt 10 evade the
law. but Will be based entirely upon de-
sire 10 obey the courts ruling.
From an officer Of the company II was
learned yesterday that Mr.. RosenthaIs trip
abroad had nothing TO do with the forma-
ton Of foreign holding company. and
that there was absolutely no truth In the
rumOr that II was the intention 81 the
company to move its central Offices abroad
The plan considered the best 10 conserve
the interests Of the shareholders was the
one which called for the selection Of some
one OF the great subsidiaries in which 10
concentrate the largest holdings.
In such a plan bookkeeping would be the
principal question To- be considered. The
subsidiary chosen may be the present hold
ing company. the Standard OH Company OF
New jersey IN which the holding attach
ment would b. Topped of IN the event o. q
defeat in the United States supreme Court
The company Is "A regular business corpora
ton in addition To the holding feature. and
was said 10 have tangible PLY steal property
valued a. more than Sl2.0J1.0o0 It owns the
Eayonne rehneries. the largest I'm the
world. and has other properties.
Tho New Jersey company. shOrn Of IT'S
holding feature as the decision requires.
would be- most favorsbly situated for the
operation Of the business Of the great
corporation. The segregation Of the other
companies. II was said would take years
20 accomplish. and I'm tie mean time an
arrangement could be made for the adj
miuistration OF each without the direct
central control now prevailing.
The stock in the other companies could
he surrendered AZ orce and exchanged for
stock To the personal owners ~ the in
tere~s This would eliminate the power
OF control hy virtue Of such holding by the
former company The payment 81 dlvi-
bends ou account 81 any stock acquired
10y the formation OF the central company
would Dee ohvisted. and so woaid tAe voting
90 that stock. fur 10 would have been sur
rendered
II was pointed out that SO We'll had the
territory or sphere ~ influence 81 each
company been mapped out that each could
continue Us business a. before without
any Intentional attempt al monopo!.zaJion
or violation Of the Inhibition as To- euEasius
In inters;at, commerce. for the combination
designated 90 the decision as Illegal would
have been wiped out but the interests ot
tie shareholders. IL was said. would be con
served as before the dissolution % .he
holding company. which would pc accom-
pllshcl hy the slelriuE of of the power
vested in the present Standard Ou Com
pauy ~ New Jersey