The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-11-21

the transportation and sale Of its
products to purchasers in this and in
other Countries
History Of Standard Oil Company.
The court here inserts a history of
the formation Of the STANDARD Oil
company, beginning in 1865. when
John ID. Rockefeller owned a refinery
in Cleveland, Ohio. and later absorbed
by its SUCCESSORS In 1870 the standard
oil company Of Ohio with capital
Of $1,000 COO. The opinion continues:
Between the organization OF that
corporation. in 1870. and April s. 1879.
Henry H. Rogers. John ID. lirchbold.
Oliver III. Payne and Charles NJ. Pratt
associated themselves with Rookie
Teller and Flagler and became stock
holders in this corporation and these
seven defendants and their associates
increased its number of stockholders
To 81. its capital stock to $500 900. the
value OF its property to much larger
sum. and acquired for tn. stockhold-
ers of that corporation by the pur-
chase Of property conveyed directly
to il, by the exchange Of it's stock for
stock az other corporations and for
interests In partnerships and by plac-
ing the title to the business property
obtained in the new corpora tons or
Eanized to hold them and then yesting
the title to II Majority or all of their
stocks in various individuals in trust
for the stockholders Of the Standard
Oil company. more than 40 competi-
tive refineries Iocated respectively in
Cleveland. Pittsburg, Titusyille. Park
ersburg. Baltimore, Philadelphia, Bay
onae. New York harbar. Boston and
other places, and the ownership of
the entire interest or of a controlling
interest in more than 30 companies.
some Of which were corporations
while others We're partnerships. en-
gagged in the same general business.
Becomes a Trust.
i THE result was that on April 8. 1879.
/ the stockholders of the Standard Oil
/ company We're. by their holding Of
/ stock and by their position n cestui
/ que trust, practically the owners of
/ controlling interests in the property
/ and the business of more than 30
companies engaged in the oil business,
4 the it'll. To which was held in trust
I for them by the Standard Oil COM
j! pany and other trustees in proper
I taoi W thelT oWHeTsHip Vi the STOCK
/ of that corporation.
| 'Thereupon on that day the Stand
/ ard Oil company and all the other
I trustees conveyed their interests in the
i stock and business of this concern to
\ George II. Villas. NJ. r. Keith and
I George +. Chester. in trust, to hold
| and manage for them and to divide
t and distribute the 81 stockholders of
T the Standard Oil company in proper
! ton to their respective holdings of
( the stock of that company The
4 trustees. however. did not divide or
/ distribute through the operating re-
/ fineries and the companies under
Z which they held under this deed and
with their earnings purchased other
/ property and the stock of other COM
/ panies until i'm 1882 they held in this
( trust property worth more than $685.
0o0, 600"
| The court here refers to the trust
/ formed in 1ss2, TO the effect that all
| of the stocks they owned in the
standard Oil company of Ohio and in
all other corporations and limited
parties engaged i'm the oil business
were conveyed to nine trustees during
their lives and the life of the sur
rivor of them and for Il years there
after unless the trust was sooner dis
solved by vote of the shareholders"
The opinion further says: