Los Angeles herald., 1909-02-16
OIL TRUST PAYS
FINE OF $4,000
WATERS-PIERCE COMPANY AC-
CEPTS DECREE
ATTORNEY GENERAL INSISTS ON
CUSTER PROCEEDINGS
Declares Demand of Court Has Not
Been Observed and Subsidiary
Will Be Forced to Leave
Standard
nv Associated Press. ]

JEFFERSON CITY. Mo-, Feb. 10
Henry S. Priest of St. Louis and H.
Clay Pierce, chairman Of the board
of the Waters-Pierce Oil company, to-
day filed in the supreme court of Mis-
souri, an acceptance of the terms i'm
posed upon the company by the recent
custer order of the court.
The fine of $4,000 was paid.
The custer decree provided that the
it had severed all connection with the
Standard Oil company and statement
to this effect may yet be required by
| the court.
Judge Priest, however, said that he
| believed today's action covered the
| case so far as the Missouri corporation
was concerned and said he did not
know of anything more that could be
done.
Payment Of the fine today was made
| by the tender of a check for $50, 900.
The acceptance is silent SO far as
| showing reorganization independent
of the Standard Oil company is con-
cerned and there is no showing that
| the New Jersey corporation does not
still own so per cent of the Waters
Pierce stock.
Statement of Defendant
"The action of the Waters-Pierce
1 company this morning does not comply
| with the decree of the court except
as to the fine" the attorney general
said. 81 shall ask the court to enforce
| the full penalty of its former decree
and show wherein the company has
failed to comply with the courts
order.''
But you will keep the money!"
someone suggested.
Il have not seen the check, but I'M
derstand it has been paid. That was
| the fine of course, to be paid whether
the company is ousted or not. There
is nothing for the state to do but show
that the courts order has been ignored
| in part and let the court act accord
ingly."
Governor Hadley said: 1.-THE COM
pany has only partly complied with
the courts order when it paid in the
| money!
when does the Standard Oil of In
| diana come in now?'
| ut must wait until, the court passes
upon its proposition I should not be
| surprised if the court would give us
| a field day for both companies and
have it out all at one time"
Law Not Complied with
Judge H. S. Priest, attorney for the
| Waters-Pierce Oil company, said: 1--WE
believe we have complied with the Or
| der of the court, and are now sub
hitting ourselves to its ORDERS
Speaking Of the proposition made
| by the Standard Oil company of In
diana to let the state have half con-
troll of the business of a new company
to be organized to do business in Mis-
souri,, Judge Priest said:
| 1--WE are not parties to it. We prom
ised not to go into any combination OF
any kind whatever. We have nothing
to do with these propositions, but of
course they would mean more if made
| by the Standard Oil company of New
York, which owns all the stock of the
| Standard Oil of Indiana and most of
/ the stock of the Waters-Pierce COM
pany."
| 1t is said that the Waters-Pierce
company will ask the court to aid it
in carrying out the reorganization or
| der portion of the decree
| If this is done a contest between the
| Waters-Pierce and Standard Oil COM
| pany of Indiana is almost sure to re-
suit, the latter concern having petit
toned the court to have the majority
| stock in the Waters-Pierce company
| together with other Standard Oil prop
erty in this state, placed in the hands
of trustees representing the company
and the state.
This plan is not acceptable to the
Waters-Pierce interests, who assert
that it would not free them from the
! domination of the Standard company
as required by the original decree in
| custer