The daily banner. (Cambridge, Md.) 1897-2008, 1911-05-17
STANDARD OIL !
NORTHUMBERLAND
Companies Involved VIII Do
Business Individually.
LATER
TO RE0kGANIZE
Trust Makes Plain Its Intention to
Heed Supreme Court Mandate and
Plans Are Being Discussed.


Plans Are Being Discussed.
New York, May 1.-THE first word
from the Standard Oil company on
the decision by the supreme court OF
the United States, ordering the DISCO
luton OF the big corporation. came
yesterday.
1t makes two points clear:
First, that there will be no contu-
macy by the company-it purposes to
obey the decree. Second, that it will
be some time before any plans OF re-
organization are given out.
The company has insisted through
out that no plans had been formulated
in advance of the decree, and the
statement made by Mortimer F. Ell
lott, general solicitor for the com.
pany, takes the same attitude. He
said:
Having only before us the press
reports OF Chief Justice Whites oral
opinion and the remarks of Justice
Harlan, and not having yet seen the
opinion OF the court in full, it is i'm
pOSSlDlG W ludhc GIL iSShIly oscSSS
mentwThe full opinion must be read
and studied by my associates and my
self before it can be intelligently
dealt with.
at may, however, be now said that
the Standard Oil company will obey
the decree of the court, and that all
the companies embraced in the court
decree will carry on their business as
usual under the direction Of their own
officers and through their own corpor-
ate organizations"
William Rockefeller, one of the vice
presidents OF the Standard, said re-
garding the decision:
"The company will make a state
ment through Mr. Elliott after the de-
cision has been read in every par
ticular. All we can do is to hope that
the decision is for the best. After all,
the Standard Oil case was only one OF
the things affecting general business
conditions unfavorably."
A conference OF directors and Off
GERS OF the company was held at It's
Offices, attended by John G. Milburn,
special counsel, but no further state
ment was forthcoming.
Among those who attended We're:
John D. Archbold, H. C. Folger, Jr.,
J. A. Moffatt, Walter Jennings, A. G.
| Bedford, Charles a. Pratt and E. T.
Bedford. John D. Rockefeller did not
come down from his country place.
Now that the case has been decided
the business world and big financial
interests. witch awaited the supreme
courts decision so long, will watch
closely every step in the Standard s
reorganization.
Plans For Reorganization.
Although officials of the company
have denied from time to time that
they would make any plans in advance
of the courts dictum, it has been re-
ported persistently that the companySs
f object in raising the capitalization OF
its subsidiaries, as it has done from
time to time in the last two years,
has been with the object OF putting
them upon a capital basis in line with
plant values. This, it was thought,
would SudDIe TIE COMPANY SoohiJ ~
dicide ND the stocks of its subsidiar'
les among the shareholders of the
parent organization should the cen
Germs corporate life be ended.
Those who were willing to venture
a guess as to what the Standard Oil
company would do pointed out that II
would be comparatively simple thing
to divide the shares of the subsidiary
companies among the present holders
of the parent company's stock. The
pro rata division would, of Course.
leave the control of the business as
conducted by the subsidiaries exactly
| where it stands through ownership by
the holding company.
One plan which it was said the cor
poration was considering was the divi'
sion of the present corporation into
six separate companies, each operat'
ing its own we'll defined territory. Yet
the ownership of all these separate
companies would remain in the same
hands. There would not need to be
connection between the branches, as
for example, between New York and
| Indiana companies, and there need not
! be any agreement as to dividing ter
ritory.