The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-12-01
BIG TRUST ENDS
Standard Oil Company of New
Jersey Is Dissolved.
Huge Concern Is Broken Up Into
Its Integral Parts.

New York. Dec. The career of the
of trusts, and perhaps the most cele-
end. The Standard Oil company Of
New Jersey, sometimes called the father
OF trsuts, and perhaps the most cele-
DRAFTED corporation in the world will
no longer control the affairs, as the
holding con- pany of more than 80 cor
pOrations in various branches of the
oil business. Beginning today these
su osldlaries which, unuer the decree of
the United States supreme court, must
conduct independently the various en-
terpris4s Will asume entire manage
ment Of their own affairs.
he oil trust theoretically passed out
OF existence on August 81, when the
books containing the record of the com
pany's stockholders We're closed for dis
trlbution Of the stock of the subsidiar-
les, but during the intervening period
Of adjustment, it was necessary to pre-
serve the old form to a large extent
Now the work of disintegration has
been completed. The stock issues rep
senting ut esubsidiaries pass into the
hands of owners OF old Standard Oil
stock and the threads which have long
bound the old companies together will
be severed.
The task of effecting dissolution was
made less difficult by the fact that the
subsidiary companies never had Ilost
their Identity. They have retained
their separate officers and boards Of
directors and to a large extent have
conducted their own affairs from their
home offices in whatever states they
were. These companies, however, have
had representation at 20 Broadway, the
home of the New Jersey corporation,
which exercised general direction over
all their affairs. 1t IS this connection
which will end. Subsidiaries which have
not already surrendered their offices at
26 Broadway will do so and henCeforth
the affairs of each company will be
conducted in its home state. The Stand
on Ill
continue to exist as it owns several
large plants.
To each stakeholder will be forwarded
his proportIonate share of stock in each
Of the subsidiaries, SO that in place OF
one issue of stock he will have more than
80. The subsidiaries will continue to ex-
list as heretofore except that in cases
where the same men have acted as Off
GERS or directors Of more than one com
pany, changes will be made to avoid such
duplication.
In the removal of OFFICIALS Of subsid-
iaries who have had the offices at rs
Broadway. a large number of men who
for years have lived In New FORK Will
be affected Scores OF OFFICIALS and clerks
viii be transferred to other cities.
The pubhc's relations vita Standard OIL
win not be visihly affected at least for the
present. No one is able to forecast the
ultimate effect of the dissolution, whether
it will have any bearing upon retail prices
or upon the relation of the companies in
the Standard Oil group with Independent
producers. Increased competition IS ex-
| peCted, but the puDuC Will pc OpASeO TO
| bIde its time before finding out whether
it is to have cheaper oil
Distribution of Shares
New York, Dec. The 80 subsi-
diary companies into which the Stand
ard OIL company divided after the su-
preme court decreed its dissolution be-
gan their separate individual existence
today.
Some 10000 new stock certificates
containing proportionate shares In
these companies were mailed to thes
5000 odd stockholders of the old
Standard Oil company. of New Jersey.
No provision has been made for the
elimination of the fractional shares
now distributed. The usual Wall street
practice Of having fractional shares
listed on the stock exchange and dealt
in until they become consolidated into
full shares is not possible in this case,
because at present the oil shares in
general cannot be listed.
Brokers said, however. that some
plan undoubtedly would be worked
out