New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-19
S. 0. VOTED At ELECTIONS
Officials of Subsidiary Com
panies Tell Of Dissolution.
BAyNE WON'T SHOW BOOKS
Not Even a Subpoena Can Get
Them, He Declares-Trade
Distribution.

The hearing IN lne sui VI -
pierce OIL Company. brought IN Missou'i
% nr.ysnt the Standard Oil people from
resuming control Of the concern "a'
continued Yesterday before REFEREE ~
IT. Jacobs in the office OF Saniuei WV.
mvsr at No. 81 Wall street. Secre'a' 'eo
NJ a number of the companies VIM"
u,.re formerly subsidiaries OF the Stahu
ord o,I trust were called before the rel
oroo chiefly to show that the kocRe-
s.,,or interests still held a dominauns
a,,,on in the companies into which the
Standard oil trust was Spit ny '"'
nrcme Court decree OF. last year =.
William n. Hutchinson. secretary W.
Oh, Union Tank Company, the nrs' WI
ness called. testified that his con,pa"y
,sas ed tank cars to the STANDARD w
Company Of Indiana. the Standa'u '
| Company of Ohio. the Standard o'i 'o'.-
many Of New York and. he thought W
,ho o,b.r Standard oil companies.
u-h.r asked ~ they ever furnished
cara IN anv other than subsidiary com
nanies OF the Standard on the witness
sa,d they had furnished cars FOR price
20 tho railroads for the purpose or hau''
ing water
Coming down TO the dissolution or the
Standard. the witness said ne was i'o'
nenber of the board Of directors un"'
son,ember last year. at when tli"'
II 9 poliger, @. y. clifford, j. w van
dyke and s. b. Punt resigned ne 'o
titled that he and other directors
chosen. each OF whom possesee' o
one share Of Union Tank stoch'
,.i,r.s. grew very impatient when asAeu
| Tho number OF shares he and the o'he''
owned. -. n
uo further testified that Jonn -
,a,Lo,ar.r voted 29.s15 Union az"
-, -, the last directors mee"ne
,,,,,,, pockefell.r voted s76. Johh ~
,,.so,, Ts2 G. W. Hardness $40 f'u
=, q Hardness 1884, "hiain
darkness l7os. Edith RooSe'e,'',
| Corm,ok 1876. James A. Mohat ~ -.
| q Nswcomb so, Northern FINANCE
,ors,ion 4s0s. estate OF Charies
40 estate of u II. Rogers i''o', :"
n Tilford III. J. w. Van DycK 90 ~"
.,,y NJ Chicago $40. W. H. pear
,so II " r1agler 1889. Mary Lay fias
-, 80 and General Educational Boaru
I 1871. ,,oas-
Samuel A. Drew. secretary "'' .t-o
urer Of the Chesebrough Ma"''
coupany. manufacturers OF Vase'',' IT,
Li,drod products. us,s next ca''eu'
...,v n. said. had An once AT NO
- e., s,reet and a factory at perth
/ Amboy. y. j.
n.e,,r.d 10 Per Cent Quarterly
Tho company had a capitalization OF
,.oo ooo A., IN. time OF the dissolu''on
:, ,b. standard on three directors u
-. .o,,narv resigned There was no
| election then. but at the annual ~, 90
., Nav three directors were
! ou IN. vacancies. Only one oil 'he -
directors WAS stockholder' ana ne 49,
only one share. The directors Nv
haa held frequent meetings ana ue'''''
! 80 ,,,,dends since January :, TINS Se"'
IN January. April, June ana IN inc
III '" ~, ,,,,,dsna declared was 10 per
cent each quarter. -.
~ Drew said the Standard OH 'oni-
=, xew Jersey owned an shares
u Af
company prior to dissolution a'u no a.
stockholders had numbered oe'"e" q,
and six thousand. The Only cnh"e
rho method OF business had pee"
| o.o,, 10 secure more Foreign
rho-. was no difference In domesuc o"''
ness. .o,irs, last
Standard OF interests all voted by
,roxv for the directors supposeo'S
a,od In their favor. Archooid 'o'.u ~
80 General Education Boaro w.
&C I1apler Al. Charles w. darkness
zoo Nor,hern Finance Corporation li!'
80 n rockefeller $50 william Roche-
TELLER q. estate OF II. H. Rose's '" '''
T,lford II. University OF Ch'caso w.
A, 20 Colonial Oil Company.
v,, u Morrell. secretary and treas
urer Of the Colonial OIL Company s'nee
last January and before that clerk IN
tho STANDARD OIL Offices. said that Ms
comnany. capitalized at $4,000. was sell
aa.nt for the Standard OIL In South
Ar.rica T.. r. Bedford, ". j. Fisher
and Morrell were directors having sue
ceeded fve who resigned az the openihs
| Of the year.
| proxIes elected these men. there having
baen no Individual shareholders present
q, the election. Morreil has a qualifying
sbare Ike the other secretaries. lie tes-
,,esa that the Colonial OIL Company no
longer sold oil in Europe. whereas under
the old regime II marketed products there.
o. G. Bayne, president OF the seaooarn
| National Bank and president OF the Sc
curlty OF Company, who was witness
| Tuesday. was recalled. He was asked
Of out the London Commercial Investment
and Trading Company, and II 1t did not
have large sums on deposit at different
times in the Seaboard National Bank MT
Ravne replied that he did not think II
ala and that he had not looked TO see.
Mr. IJntermyer said he had no further
opes,,ons 10 ask the witness until he had
n,oduced the accounts Of the London
Trading Company with the Seaboard
Bank.
Mr.. Bayne declared those books and
papers would not be produced, even II
they were subpRnaed by the court. Mr..
Rayne was told to bring the books and
papers asked for. He replied that he
would not bring them. and left the court
with his personal counsel
Richard c. Welt, secretary OF the Stand
ard OIL Company of New York and d.
rector since January OF this year. vas
the last witness. He said he looked
a. l.x.kt sa.x