The Detroit times., 1912-05-29

Oeen DONG Tor years WIN PROXIES
said Rockefeller,
You know of frequent contests"
Yes"
Who determines about the proxies
in such cases?'
Il sigh them all"
"vou sign both sides, eh?"
NO. don not, Mr.. Untermeyer,
said RocN efeller firmly.
Foes not some one in your en-
plov investigate and decide what
proxies are 10 be sent TO you?"
Il never gave special instructions
as 10 that" said the oil king.
II am not referring TO any special
instructions. Is there anyone who had
charge OF this for you?'
Il do not recall anything TO eah
for such a question. The proxies came
In the regular way and naturally
there are a great many of them
brought TO me, and sign them as
matter of routine"
10 you rely on someone in your
oiice?@
Il presume the parties in my Of
fee know all about the proxies and
other business"
"rbey have certain discretion as tc
what papers are TO be sent up to you
have they not?"
"Nes, many of these men have been
with me % or 80 years. and know
all about my financial affairs. OF
course. do not know whether they
withhold anything from me. That
question has never arisen
"YCu assume that this paper came
to you from that group?"
Il assume that this group of men
who understood the oil business knew
what was best. and as did not know
haG 10 assume that their judgment
was best | assume that it was right
for me TO sign that proxy, when II
came to me from these gentlemen"
At this point several cameras click
ed and Untermeyer interrupted the
proceedings 10 force the photograph
ers TO leave the room.
"you speak OF oil men, what dc
you mean by oil men?"
Il mean the leading men in charge
OF the industry"
What did you think ought to have
been done with the Waters-Pierce
Coz"
They wanted to have their rights
preserved. and to be reorganized sc
that they could manage their busi
ness properly"
Rockefeller was asked who had
control OF the Waters-Pierce, and he
said that he knew IL was not vested
IN MIR. Pierce but in the persons who
held stock in the original trust" Ht
eyaetd direct answers regarding just
who held the control, saying he had
not figured 1t out when he signed the
proxies. and anyhow he did not know
who had executed proxies.
Rockefeller frankly admitted thai
there was no passing OF contro
Through reorganization Of the Stand
ard. He said that he realized thai
the persons who controlled the
Standard. when the stock of the sub
sidiary companies was distributed
retained the same control in them
I Untermeyer kept after Rockefeller
for a direct answer but was unable
to get one. The oil king was smooth
maye. evasive and in high gooC
thumor. Nntermeyer repeatedly los
his temper. AT one time he shouted
l"You can answer yes or not to that.
"Well. well see about that. saiC
Rockefeller with a smile. asking tha
the question be repeated and shiftint
the discussion until IL was finall!
dropped
why, IL I asked you IL II wa
daylight outside, you would not an
swer directly; you'd say IT was abou
time for the moon TO rise said I'm
ltermeyer.
Rockefeller thought this was 9
good Joke and laughed jovially. as i
Intensely enjoying himself.
After a long wrangle, Rockefeller
concluded an answer with the state
ment:
81 do not bother with details"
/ Nntermeyer then gave IL up anC
said. THAT will be all. +"
Now don't spare me. begor
Rockefeller. I'm willing to stay
here. My desire is"
| 81 don't care what your desire is.
Iretorted Nntermeyer That all.
THANK you"
II thank YOU" replied the aged o.
king. smiling beningly as he left th'
stand and Immediately left the room
The hearing was then adjourned
until June L. Nntermeyer appear
I'd TO be well satisfied with the resul
iUr the quiz. despite his difficulty II
getting direct answers. Rockefelle
escaped the camera men by takinl
Ian elevator TO the floor above th'
hearing room going across into an
other building and leaving by q dif
lfercnt exit Hc ssid be would mo
tor back Immediately 70 his Pocanti