Perth Amboy evening news., 1911-08-01
OIL TRUST
DISSOLUTION
Stockholders to be Given
Subsidiary Securities.

New York, Aug. III. G. Folger,
secretary of the Standard OIL ON
pany, announces In a formal statement
to stockholders the plan of distribution
of the stock of the subsidiary COM
panies to comply with the rule Of
reason" laid down to the trust recent
" by the supreme court Of the United
States.
The stock of the subsidiary compa-
MES will be distributed pro rata
among the stockholders Of record with
the parent corporation. The company
expects to have the stock ready for dis
tribution by Dec. l. The plan of re-
organization, as announced, is simple
and contemplates the restoration Of
the original companies Of which the
giant combine is composed.
This does not mean. so NJ. r. Elliott,
chief counsel for the Standard Oil
company, points out, that the Stand
ard Oil Company Of New Jersey will
20 out of business on Dec. /. 1t Will
continue as a manufacturer Of petro-
ieum products, and 1t will continue to
run the biggest oil refneries 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, it 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, MI. Elliott says.
Il am not prepared to say" remark
ed Mr.. Elliott, what is to become of
the stocks owned by the Standard OIL
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 thu
court which obliges It to do SO. Its
stock will not have the value that 1t
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 corpo-
ration which the stockholders in the
present Standard Oil Company Of New
Jersey will have when the dissolution
is completed. ThiarSss,s of figuring
must necessarily be On q single snare
Of Standard OIL of New Jersey stock.
Of the 5000 shareholders there are
laany who OWN small lots ranging
frvm a single share to ten or a dozen.
OF the total capitalize ton of the
Standard on Company Of New Jersey
there is outstanding s98,33S, 300. 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 247,-
692 shares. The estate OF Charles
Pratt comes next with 52,S02 shares.
C. w. Hardness has 42,400 shares; Col
onel Oliver H. Payne, 10000; Henry
NJ. Flagler, 80,500; Henry H. Rogers,
1920; W. L. Hardness, 1900; the
estate of H. n. Houston, 11,775; VII
liam Rockefeller, 11.7o0; L. II. Sever
ance, 1874; V. E. Macy, 1900, and the
estate Of John Huntington, $500.
This Is a total of sol .218 out of a to-
tai authorized Issue Of 1000. 0O0 shares.