The citizen. (Honesdale, Pa.) 1908-1914, 1911-08-02
STANDARD To LIVE
Parent COT7>aHy 10 Com.
bine as Manufacturers.
WILL DISSOLVE AS A TRUST.
Stock Of Thirty three Subsidiary Com
panies to Be Given Holders of
Standard Of New Jersey Certifi-
eates-To Continue Business.

New York, Aug. 1.-Stockholders IN
the Standard Oil Company of New
Jersey will receive today from the sec
retary of the corporation letter
which indicates the plan by which the
company will conform itself to the
decree of the supreme court They are
informed that by Dec. / next they
will have certificates of stock in thirty
three corporations which at the time
of the decision were owned by the
Standard OIL company.
This does not nean, so NJ. f. Elliott,
chief counsel for the Standard Oil
company, points out, that the Stand
ard Oil Company Of New Jersey will
go out Of business on Dec. l. 1t will
continue as a manufacturer of petro-
leum products, and it will continue to
run the biggest oil refineries in the
world.
Besides the stock which the Standard
of New Jersey owns in the thirty three
corporations. Of which 1t is ordered to
rid itself, 1t held shares in many other
corporations.
What will become of this stock Mr.
Elliott refuses to say. There appears
to be nothing In the supreme court
decree or In that of the lower court,
however, which prevents the Standard
of New Jersey from maintaining own
ership, Mr.. Elliott says.
The scheme by which the Standard
will dissolve connection with the
thirty-three companies, which have
been regarded as subsidiaries, has
been under consideration by the d.
rectors for many months. 1t was said
at &c Broadway that to apportion the
stock among the stockholders In the
major corporation was the only way
of meeting the letter Of the supreme
courts decree. Mr.. Elliott added that
the company proposes not only to meet
the letter of the order. but the spirit
also.
81 am not prepared to say" remark
ed Mr.. Elliott, what is to become of
the stocks owned by the Standard OH
company in corporations other than
those indicated in the decree Of the
court. But you may believe that the
Standard OIL company is not propos.
ing to go out of business. Indeed.
there is nothing in the decree of I'll
court which obliges It to do so. Its
stock will not have the value that II
has at present, Of course, because the
company will have given up its stock
ownership in at least thirty-three cor
porations. but the Standard of New
Jersey will be very much alive never
theless."
The accountants will have some in
tricate work to do In figuring out the
fractional shares In the minor corno-
ration which the stockholders In the
present Standard OIL Company of New
Jersey will have when the dissolution
is completed. The basis of figuring
must necessarily be on single share
of Standard OIL Of New Jersey stock
OF the 5000 shareholders there are
many who own small lots ranging
from single share to ten or dozen
Of the total capitalization of the
Standard Oh Company of New Jersey
there is outstanding sos, $780, Ac.
cording to recently published figures
more than half Of this is held by
twelve persons or estates. John D
Rockefeller's holdings amount to PAT.
692 shares. The estate Of Charles
Pratt comes next with 62,8O2 shares
C. W. Hardness has 42,400 shares; Col
onel Oliver H. Payne. 10000; Henry
M. FIagler, 80,5Oo; Henry II. Rogers.
1920; W. L. Hardness, 1900; the
estate Of II. II. Houston, 11,775; VII
liam Rockefeller, 11.T00; L. H. Sever,
ance, 1924; v. e. Macy, 1900, and the
estate of John Huntington, $500.
This is total of sol ,218 out of a TO
tai authorized issue Of 100000 shares.