New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-02-02
NOVEL STANDARD PLAN
OFFERS PARTNERSHIP
WITH MISSOURI.
Proposes Formation of Nezc OIL
Company Practically To Be
ODerdted bg the State.
[Rv Tslesrsph 70 The r-isrne- 1


Jefferson City. Mo. Feb 1.-Rather than -
driven from the state under the custer decision
Of the Supreme Court. the Standard Oil Com
pany of Indiana has proposed that the state OF
Missouri 60 into partnership with it in the man
agement of its Missouri business. No more re-
markable proposition for state control was ever
submitted by a corporation than that presented
by the Standard company to the Supreme Court
this afternoon. After setting out the many rsa-
sons why the big refinery at Sugar Creek should
not be excluded OF the sale Of oil outlawed. the
brief filed to-day says:
This respondent is willing to place Itself and
its business under the vigilant eye OF the state
and subject to the supervision and control OF
this court If it will aid in a proper solution OF
difficult situation. II some such arrangement
be acceptable, the owners OF the majority OF
stock of the Waters-Pierce Oil Company VIII
place that stock in the same situation.
''It is. therefore. proposed that in lieu Of ths
Judgment Of custer against the Indiana COM
pany new Missouri corporation be formed.
which shall take over all the Missouri property
Of the Indiana company and succeed to all IT'S
business in this state. All the stock OF the
new company, less enough TO qualify directors.
shall be issued to and for four years stand IA
the name Of two persons as trustees one select
ed by the state and the ether by the Indiana
company. both selections to be approved by this
this court, subject to its control and direction,
and vote the stock and keep v1gilant super
vision over the affairs OF the company. as to
see that it conducts the sans IN a way that
fair. just, lawful and proper treatment Is ac-
corded to the public well to the property.
company and its real owners. II ever, as 70
any action to be taken pursued. the said
trustees cannot agree, the controversy shall be
submitted 10 the judges Of this court. or some
one named by them arbitrator, the de-
cison of the judges or their arbitrator TO be
final.
This respondent would prefer not to form a
new company. 1t would prefer &c remain IN
the state and have appointed such trustees. Civ
ing them by irrevoCable power OF attorney full
power of supervision over the conduct OF its
business in Missouri as that outlined with
spect to a new company
''The stock Of tn Waters-PierCe Company
owned by the STANDARD Oil Company OF New
Jersey shall be sold and transferred to and be-
come the property of the Missouri company
thus formed or in lieu thereof. it shall be trans
ferred to and held by said trustees for the same
period"
The cOmpany's attorneys have hope that ths
proposition will be accepted. According TO this
plan. the state would have a financial interest
in the business. would have half OF the manage
ment and could help to fix prices deterrnins
conditions OF sales and the method OF handling
the business the court TO settle all disputes
The proposition is without a precedent. and
coming as il does from corporation that has
been the most secretive OF all corporations il
has completely puzzled the state officers