The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-11-22
OPPOSING COUNSEL IN STAND
ARD OIL CASES SPEAK ALIKE
ON DECISION.
OF NO PRACTICAL EFFECT
Parent Concern Not Dissolved, Only
Ordered to Distribute Holdings
Among Five Thousand Stockholders
Trial Decided Saturday Similar to
That Against Coal Carrying Roads.

New York, Nov. 2l.-Mortimcr F.
Elliott, general counsel for the Stand
ard Oil company, said today In COM
menting for the first time on the de-
cision against the company handed
down yesterday by the United States
court at st. Paul:
Il have seen what purports tO be
the text of the decree handed down
by the United States circuit court yes
terday. The company will take an ap-
peal to the United states supreme
court Immediately and will cheerfully
abide by the verdict of the highest
court in the land, whatever that may
be.
Arguments in this case began last
April. and we are glad to have
reached an opinion. I do not mean
we are pleased with the opinion it
self. but we are glad to get 1t. what
ever it's nature. The decree does not
order a dissolution of the Standard
Oil company: that is a misunder-
standing. What the decree orders. as
/ now understand it, is that the COM
pany shall distribute among its stock
holders, of whom there are approXi-
mately 5000. it's holdings in stock of
subsidiary companies. This distribu-
tion. l further understand. is ordered
to be effected on pro rata basis
of apportionment. That is to say.
heaviest holders of standard Oil stock
would receive "A proportionate num-
ber of shares in the stock of subsid-
iary companies
Mr. Elicit was asked what course
the company would adopt II the YER
diet of the lower court should be up
held in the higher court.
That" he said. lis something l
shall be better prepared to discuss
when 1 see the opinion by which the
United States circuit court justifies
its decree"
Wellman's View Of II.
Henry Wellman. who represented
The attorney general of Missouri i'm
that states suit against the Standard
OIL company and conducted the ex-
animation in New York of the Off
GERS of the company. takes "A view
similar to that expressed by Mr.. Ell
liott. He sums up the situation as
"a theoretical victory Il cannot
see." he said. that any practical ef-
feet is to be expected. Ie seems as
If the best the government can do
is to order tho sale Of the property
and. in that case, the money. OF
course. goes To the present stockhold-
ers in some of the other companies.
The case is similar to that Of the
coal roads. which were forced to
separate from their coal business and
il Is difficult to see. even if the de-
cision is upheld by the supreme court.
how the government can prevent the
control of Standard Oil properties re-
manning in the same hands. even il il
Is split up into its constituent prop
critics. This has been the ease in
every suit in which the government
has compelled the dissolution Of COM
binations. They have simply been
put into different shape and have
gone along more compactly than
ever
John ID. Archhold when informed of
the decision said:
Il shall not make any statement
and Ii anything is said. it must come
from the counsel of the company.
Naturally We desire to look over the
text of the courts decision"