New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-24
WATCHES RIVALS CLOSELY
Standard Man Gives Light on
Company's Alertness.

Eternal vigilance IN watching the prices
Of competitors was one Of the cardinal
principles OF the old Standard OF Com
pany. Although now the trust has been
officially dissolved" b. the United States
Supreme Court into various state com
panies, one Of the children, at least, seems
to have received and absorbed valuable
parental training
II was brought out yesterday at the
hearing Of the Watcrs-Pierce litigation
before Commissioner Jacobs that the
Standard OIL Company Of New Jersey was
keeping keen eve turned in the direc-
ton of competitors and carefully scru-
tnized all market prices. James y.
OConnor, OF that company, testified that
his duties were 20 examine various pub
lications and keep up with crude oil quo
tations, pipe line runs, deliveries and
stock, receipts by competitors and arti-
cles relating To different rehncrles and
jobhers." He also receives reports along
these lines from the company's repre-
sentatiyes in Newark. Baltimore and
Sarnia. Canada. The sales by competitors
are reported by agents, and these are
compared with the published reports.
Did you ever work for the Standard
oil Company Of New York." asked $. w.
FordyCe, jr., Of St Louis. who conducted
the hearing for the Waters-Piorce inter
ests in the absence Of Samuel Untermycr.
II think ] did. some time ago" an
swercd the witness, after a slight hesita-
ton.
r.fa L. 1.tT In
company. and that his office at No %
Broadway was the only one collecting
statistics, 50 far as he knew and IN
addition, that he furnished reports only
TO the officers OF his own company. The
reports might he available to others, he
said, but only through these officers.
Objection was made by Frederick Gel
Ter, OF counsel for the Standard, when
Mr. Fordyce began TO interrogate George
Chesebrough. secretary of tho New York
Transit Company. the Indiana Pipe Line
Company, the Buckeye Pipe Line Com
pany and the North New York Pipe Line
Company, about certain transactions that
took place between the Standard Oil Com
pany of New York and tho National
Transit Company IN 1901. These questions
related TO the account Of G. n. Payne and
II. c. Folger, ir., with the National Tran
sit Company.
These questions are utterly and palpa-
bly, irrelevant" maintained Mr.. Gellci.
"and unless the commissioner rules them
out We shall be here Until Christmas, If
not longer"
Tho Commissioner: ~ am unwilling 20
assume that these questions are imna-
terial ] don't think tho Missouri court
should be deprived Of any information
that It Is possible TO get. The Missouri
court can rule on the admIssibiIity OF
these questions"
Mr.. Geller protested: The taking of
this testimony is costing my clients n
large sum OF money. and feel IT is time
for the commissioner TO exercise his au-
1hority and DO something TO shorten the
Proceedings
The commissioner decided that "it
would be unwise ands unfair 20 the Mis-
souri, court to rule out this testimony IN
advance OF the trial"
Mr.. Chcsebrough, in telling how the
directors Of the four pipe line companies
were selected. said J. A. Moffett formerly
president # these companies, told him
that according 10 the Supreme Court d.
cree he and some Of the other officers
and directors would have 10 resign. and
suggested the witness said, men who, he
thought. would be suitable for the places
TO be vacated. The men suggested by
Mr.. Moffett Mr.. Chesebrough said, were
elected at a special meeting In Decem Der,
1911, and confirmed entirely by proxy
votes at the annual stockholders meeting
this year
Mr. Chesebrough said Douglas Bush
nell became president Of all tho COM
panics, and the witness secretary. The
directors differ I'm the boards, hut some
Of the officers are directors IN all
Richard =. Tipsley. treasurer of IN,
New York company, formerly assistant
controller Of tina; company. said the Mag
noia bonds sold BY the New York CONF
pany 10 Blair & Go. were I'm the vaults
when he took Office, and there was moth
ing In the books TO show they had been