Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1911-05-20
WON'T EvADE LAW
STANDARD Oil Go. to Obey
Courts Mandate.
PLANS FOR RFO26ANlZATIO'i
aAM Companies Involved in DISCO
Antion Order Will Conduct It's
Own Business as Usual,
Says Solicitor.

View York, May 1.-THE Standard
4 Gal company, whose dissolution was
4ssrJered by the decision of the United
States supreme court, gave out a
statement regarding the decision
shrough it's chief counsel, M. F. Ell
sssptt
The statement says that any lengthy
reply to the decision cannot be made
at this time, and adds that the law
wwSH be obeyed and that the companies
sembraced in the courts decree will
8&rry on their business through their
sswn corporate organization.
Mr. Elliott's statement follows:
Having only before us the press
n@ports of Chief Justice Whites oral
@sBinion and the remarks of Justice
Glarlan, and not having yet seen the
esainion Of the court in full 1t is i'm
possible to make any legnthy state
snent. The full opinion must be read
and studied by my associates and my
self before 1t can be intelligently
dealt with.
''It may, however, be now said that
the Standard Oil company will obey
the decree of the court, and that all
tne companies embraced In the courts
aeSsree will carry on their business "a
asual under the direction of their own
&fS8 gers and through their own corpor-
saasae organizations"
William Rockefeller, one of the vice
.garesidents of the Standard, said re-
sETarding the decision.
The company will make state
ement through Mr. Elliott after the de-
Sision has been read in every par
t'E2rdJar All we can do Is to hope that
the decision is for the best After all,
ssfgzse Standard Oil case was only one of
srase things affecting general business
znnditions unfavorably."
A conference of directors and Off
rscers of the company was held at its
offices. attended by John C. Milburn,
special counsel, but no further state
ssnent was forthcoming.
Among those who attended were:
Eohn d. Archbold, H. c. Folger, Jr.,
y A. Moffatt, Walter Jennings, A. G.
Bedford, Charles A. Pratt and e. t.
Bedford. John d. Rockefeller did MT
as,gme down from his country place.
Now that the case has been decided
the business world and big financial
5saterests, which awaited the supreme
courts decision so long, will watch
~3osely every step in the Standards
reorganization.
Plans For Reorganization.
Although officials of the company
ssave denied from time to time that
szsey would make any plans in advance
stsf the courts dictum, it has been re-
syorted persistently that the company's
q object in raising the capitalization OF
Ssats subsidiaries, as it has done from
csatme to time in the last two years,
asAss been with the object of putting
q THam upon capital basis In line with
81 Tslsat values. This, it was thought,
~axosf,6 enable the company easily to
4 2f@iae up the stocks of its subsidiar-
X ses among the shareholders Of the
sars1it organization should the con-
esoern,s corporate life be ended.
Those who were willing TO venture
= gress as to what the Standard Oil
scompany would do pointed out that 1t
'exolJd-Se a comparatively simple thing
srza cfvfas the shares of the subsidiary
accompanies among the present holders
81 the parent company's stock. The
< pro rata division would, OF course,
leave the control of the business as
gsonducted by the subsidiaries exactly
.snere it stands through ownership by
-ASe holding company.
One plan which it was said the cor
a 2oaation was considering was the divi-
ssion of the present corporation into
six separate companies, each operat-
Il ing its own well defined territory. Yet
,fshe ownership of all these separate
~yGsmpanies would remain in the same
{ sznds There would not need to be
"a tSscnpetltion between the branches, as
ser example, between New York and
IA ana companies, and there need not
ss any agreement as to dividing ter
as-aFyv