Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-12-05
Member of "0ld Guard" viii Con-
troll Standard Oil.
DECISION HAsTENs RETIREMENT
Younger Men to Take Over Work
of Rearranging Affairs.
MANAGEMENT LITTLE ALTERED
Years Has Been Only NominalIy
Associated with standard
OIL In Business.

NEW YORK. Dec. 4.-John ID. Rookie
Teller terminated his career as head of
the Standard Oil company today. With
him there also retired most Of the con-
spicuous figures OF the early days of
the 'oil trust" Not a Rockefeller re-
mains among the officers and directors
of the Standard OIL company OF New
Jersey, chief Of the oil corporations,
which was the holding company up TO
the time Of the recent dissolution Of the
great combine
William Rockefeller, william @. Rock
efeller, G. w. Pratt. II. NJ. Flagier, e.
T. Bedford and others whose names have
been prominent in the oil business,
stepped behind the scenes today.
John D. Archbold, one of the few MEM
bers Of the "old guard" to remain, be-
came president of the Standard Oil com
pany OF New Jersey and will control its
destinies.
John ID. Rockefeller was not present at
&c Broadway, the headquarters of the
Standard Oil company at the special
meeting at which time his resignation
was acted upon. The termination Of the
business career of the man who has ac-
quired a unique position in history and
amassed what is generally regarded as
the largest private fortune in the world,
was a perfnnctory proceeding 1t had
been planned in advance, although the
plans had been kept secret. All the in
formation vouchafed at 26 Broadway
came in the shape of brief typewriter
statement announcing the changes.
Management Little Changed.
Today's action affects not only the
New Jersey company, but a number of
other corporations in the Standard oil
group Although the list of officers and
directors is virtually made over, the ex1
ecutive management will be changed but
little. To what extent today's action is
an outcome of the dissolution of Stand
ard OIL was not disclosed from any au-
thoritatIye source. 1t Is generally un-
derstood the decision of the United States
supreme court merely hastened the retire.
ment OF mn whose advancing years
made it certain they could not retain
their places much longer. II is regarded
as probable that Mr.. Rockefeller and
his associates thought younger men
should take over the work OF rearrang
ing the affairs of Standard Oil under the
new scheme Of things.
Mr., Rockefeller for nearly ten years
has been only nominally associated with
STANDARD Oil. He has visite~ Broad
way only about once a year and his stays
usually were limited to few minutes.
After the death Of H. II. Rogers, AIR.
Rockefeller's visits became more fire.
quent for time, until gradually rsponsi-
bility wasashifted to Mr.. Archbold The
succession Of Mr.. Archbold to the presl-
dency had been expected
John A Moffett, who was elected first
vice president of the reorganized New
Jersey company, is one of the best known
of the comparatively new men in the
Standard OIL company. He was presl-
dent of the Standard OIL company OF In
diana when Judge Lands imposed his
s2sOOO,0OO fine upon that company.
TeaEIe Former Independent,
w. c. Teagle. elected second vice
president is a man under forty, but he
long ago acquired a reputation for marked
abluty in the oil trade. He was an in
dependent refiner In upper New York
state when he sold out TO Standard Oh,
and took position as head of its expert
department which Is said to have de-
veloped enormously under his manage