The Birmingham age-herald., 1909-02-14
STAY OF EXECUTION
 WILL BE ASKED
Water8-Pierce Oil Company
 Petitions the Court
HARD TO BECOME FREE
Company Has Had Trouble In Trying to Cut Loose From Standard Oil and Wants Time to Finish
 the Good Work.

St. Louis, February 1S,-That the Wa ters- Pierce oil company of Missouri will on Monday ask the supreme court of this state for a further stay of execu- ton oa that portion of the recent decree against it requiring it to loosen itself from the domination of the Standard Oil company of New jersey was the tntima- ton emanating from the offices of the local concern today. The fine of $50 900 which was assessed against the Waters Pierce company probably will not be contested, the attorneys for the prosecu- ton saying that they see no recourse from this portion of the penalty.
 The Waters-Pierce company did not Join with the Standard Oil company of Indiana and the Republic Oil company of Ohio in the proposition made to the su- preme court recently by which the state would gain a direct voice in the man. agement of those corporations interests in Missouri. Part of that proposition was that the 60 per cent of the Waters Pierce stock held by the Standard com pany should be placed in the hands of trustees to be appointed by the state and companies jointly. This, the Waters Pierce management asserts, would pre- vent the Missouri corporation from sev- ering itself from the foreign company's control and would only strengthen the position of the Standard in the state It is predicted unofficially that the Waters Pierce company will ask the court to de- clare the holdings of it's stock by the Standard interests illegal, on the ground that such holding contravenes the prin ciple laid down by the supreme court of the United States in the Northern Se curities case If this attitude is adopt ed, one of the greatest legal battles be- tween corporations in the history of the country may follow
 The Northern Securities case is relied upon by the government in it's suit to dissolve the Standard oil Company of New Jersey, which is to come up for argument in the federal court here next month The probable attitude of the Wa ters-Pierce company in the Missouri case was lntimated after conferences today be- tween H. Clay Pierce, the head of the company and it's attorneys. MT. Pierce arrived here this morning and spent the day with the lawyers. He refused him. self to interviewers. MT. Pierces per- sonal attorney, Judge Henry $. Priest, accompanied him south
 The Waters Pierce company must make a showing of it's attempts to comply with the Missouri custer decree on Monday next. Originally the decree gave the com pany until January 15 in which to com ply with the court order. On the as sertion of the company that it had been unable to secure the release of it's stock from the Standard Oil company the time was extended one month.
 It is now said the same plea will be brought forward in asking for further extension and the fact that the annual meeting of the stockholders of the com pany is to be held Tuesday probably will be made ground for additional argument in this regard The entire matter is likely to be threshed out at this meet ing and it is thought the court will be willing to give the company more time in view of this fact. It is the uneXpressed hope of attorneys for the Waters Pierce interests that the extension, if granted, will place adjudication of the case be- hind the decision of the federal court in the dissolution suit so that any favorable circumstances arising from the big case may rebound to the fullest possible ad- vantage of the Missouri company