New-York tribune., 1911-11-21
BEDFORD QUITS OIL BOARD
Feels Courts Decision Has Cur
tailed Opportunity.
NO ROOM FOR AN ADVISER
Varied Interests, He Says, Espe-
cially in Glucose Industry, De-
mand His Efforts Anyway.


Edward r. Bedford resigned yesterday as
director Of the Standard oil Company OF
New Jersey. and as president Of the BED
ford Petroleum Company. of France. the
Colonial Oil Company, Of New Jersey ana
1be Borne. Scrymser Company. in a state
rnent following his resignation Mr.. Beo-
ford showed he held different views rom
those OF Samuel J'ntcrmyer Who says '"e
REORGANIZATION Of the Standard OIL Coni-
pany in accordance with the supreme
Court decision merely meant change OF
clothes" and that the oil trust VIII so OH
doing business in the some old way
For the last two years my functions III
convection with the Standard Oil Company
have been limited 10 those Of an adviser,
savs Mr.. Bedford. Under the new cono'-
tons no such position is even perrnlssiolo'
tor. as the Supreme Court orders there
VIII be no general body or interest to ao-
wise With"
Mr.. Bedford has been connected with the
oil Industry during bis entire business me-
hut for the last few years has been espe-
claIIv identified with the glucose manutact-
1lring industry I'm February, 1899, he re-
tired from the advisory committee "t ihe
Standard oil Company. giving as his reason
his desire TO devote moro time 10 tho Corn
Products Refining Company OF which ne
was and stn IS president. He is the tmrd
Standard oil director to resign this year.
the other two having been Henry NJ. I'll
ford IN February. and oliver II. Payne,
whose resignation. offered in August was
announced last week. In explaining the
action Mr.. Bedford said:
with these designations 7 am entirely
out Of the oil business, excepting as a
stockholder. and In this differing in no way
from the other stockholders and remain
ing as such only as long as the investment
seems as favorable as or moro so than any
other. Ny business engagements OUTSIDE
Of the oil business cali for incessant atten-
1ion. For the last two years my functions
I'm connection with the Standard OIL Com
pany have been limited to those of an ad-
wiser. Under the new conditions no such
position is even permissible, for as the
Supreme Court orders, there will be no
general body or interest 70 advise Wlth'
each corporation being, In every sense OF
the word. a separate and distinct organ
,zation. having no relation 10 or community
OF interest with any other, and governed
SOLELY bv its officers, subject to its board
OF directors and go acting as It's best IN
terest may dictate
Mr.. Bedford was born iu Brooklyn on
February 49, 1919 on leaving school me
became a salesman for the oil refining
firm Of Charles Pratt & Co, the senior
member Of which, the late Charles Pratt
was for many years a prominent director
Of the STANDARD oil Company. Mr.. Bedford
left the Pratt employ TO become a partner
In the firm Of ThoTpsuo & Bedford who
we're Eastern selling agents for makers OF
,,ibricatipc oils. lie was elected d director
Of the standard on Company in 1893, but
never served as an executive officer of that
corporation and took AN active part i'm
the management only I'm the period be-
tween 1903 and 1909, when he was mem
her Of the executive committee. lie was
an expert on Iubricating oils. a branch Of
fhe business I'm which the Standard was
not strong I'm its early years. and also acted
especially a. an adviser ON merchandising
and on conditions and developments I'm the
foreign field.
Competed with Glucose Trust.
Mr.. Eedford's connection with the rlu-
cose business dates from February. 1901,
when the New York Glucose Company was
incorrorated, Of which he was made presi-
dent The company, for which big fac
tory had been built at Shadyside. y. j.,
about opposite lV'th street TINS ''''' va
from 'he StaIt El5o' 'oU9 lo'"p9'i'oi
the Glucose sugar ie".-IHS u'II'""S' ~,
ola 'i'voao uS' i''
was 'oiH"lH'o wiz
.o"l l'"','7H =" 0'I u''-, ',.' - 20 49,.
iiouuC'9 N'ii'fo'', ""u
cent OF ''e s,o'N VI ~. ~" o'
company. INC "" 'ol" 'l1''s ''o"
ever co"uuO'' 10 'oI''l'e'0 w, 80
Nl,u 'He 'oLii . iO''.'' La"S t'i''' '''
''D' ''''' 80 ,t. r,..',l7l- -.
a., - -, 80 -. 81,
VI. c,',.,.,. C,,,,,,.o,,,. ss ,ts rros,do,t
,y;,i,.,, ro.toreIIe, tho lo+a tTorr, u
-, ,.t,,.io, Al pit md NJ Rodford
80. ...,l...,, tl,o ;...o.r,r+ors 80 +bo >,.,,
=, ,,... 49,, 49,. -.
Inns
~, lt..l
.s, -, -, 80 g,
7 ,.@' '.'' .,''- % '-
wa $40 ''' ''' '-0 ''''0
i'' '''''
Mr.. 5edford's Varied Interests.
I'm addition to his presidency Of the Corn
Products rof4ip,, Comnarv Mr. Rodford is
,.,ce-rr,s,.ia,f ar the Afatboeop I.ea5 Com
Comrany and thc Thompson-starrett com