New-York tribune., 1912-02-16
PIERCE CHECKS JOHN D.
Blocks Move for Control OF
Waters-PierCe Oil Company.
STANDARD VOTES CAST OUT
Tellers Refuse to Count Them,
Despite Court order-Trust
Perpetuation Alleged.

St Louis. Feb. l5-In a bitter fight which
RACED to-day at the annual election OF the
stockholders, Henry Clay Pierce and his
associates checkmated the effort OF John
y. Rockefeller and the Standard Oil in
terests TO take absolute control of the
Waters Pierce Oil Company. The prize at
stake is shown by sworn testimony in
recent suit that the Waters-Pierce concern
in one year declared a dividend of $4,000.
The capital stock is 100000
Although Standard interests own 6S per
cent of the stock of the company, the
Pierce interests refused to count the bal
lots of John d. Rockefeller, John d. Arch
bold and their associates, on the ground
that they were attempting to perpetuate
the Standard Oil trust under new sys-
TEN. in contravention of the decree of the
United States Supreme Court dissolvng
the Standard Oil Company and the decree
of the Missouri Supreme Court ousting IT
from this state.
The Rockefeller STANDARD Oil interests
filed a mandamus suit to compel the tellcrs
20 count the Standard Oil ballots but the
tellers appointed by Pierce, refused to ac-
cept them and declared the Pierce slate Of
directors elected The controversy between
the conflicting interests will be fought out
in court beginning before Circuit Judge
Kinsey on Saturday, when the alternative
writ of mandamus comes up for argument.
The move Of the Rockefeller Standard
Oil interests to exercise control over the
Waters Pierce Oil Company, according to
statement given out by one of Pierce's rep
resentatives, is part of a countrywide plan
10 perpetuate the oil monopoly, as well as
20 control the business of Mexico The
good faith of the Standard OIL people in
complying with the decree of the United
States Supreme Court dissolving the Stand
ard oil trust was attacked in the Pierce
statement.
When the stockholders met to-day wal
ter r. TAYLOR. of counsel for the Standard
OIL interests. and NJ. NJ. Van Buren,, SON
in-law of John d. Archbold, who was di-
rector and one of the principal owners of
Standard Oil, offered to vote the shares of
stock owned by Archbold
Pierce filed written protest The Stand
ard interests wished to vote the stock for
three directors. Robert w. Stewart, of
Chicago. an attorney for the Standard OIL
Company of Indiana; George W. Mayer, Of
Kansas City. manager of the Standard Oil
Company of Indiana at Kansas City, and
treasurer of the Waters-Pierce Company.
Pierce protested against the acceptance
of the vote of Archbod stock and against
the acceptance Of the vote of all other
stock offered by persons confederated or
allied with Archbold. Rockefeller and
Standard Oil. Pierce's protest declared
that by reason of the connection of Mayer
and Stewart with the Standard Oil Com
11rv,1,1
directors of the Waters Pierce company,
both under the decree of the Supreme Court
of the United States and the Supreme
Court of Missouri
The Standard Oil interests had planned
TO elect Stewart president Of the Waters
Pierce company to succeed Clay Arthur
Pierce son of II. Clay Pierce who is now
chairman Of the board of directors and
the largest individual owner of stosk in
the company. Mayer was slated for vice
president under Standard Oil control and
Adams was to be reelected secretary and
treasurer. The Pierce board of directors
proposed was II c. Pierce c. A. Pierce c.
p Ackert Andrew NJ Finlay and George
T. Priest.
Van Buren and Taylor, as representa-
tives of the Standard Oil interests, offered
to vote 2,UOI SndreS OF NdteTS-fleDCe STOCK.
a majority Of the 1000 shares. The Waters
Pierce company is capitalized at 100000,
but its stock sells at $3.50 share
In the distribution of stock under the
decree of the Supreme Court 617 shares
were split into fractional parts and could
not be voted in the election. The Stand
ard representatives contended that they
were entitled to 1920 votes under the cu-
mulative system Of voting and they pro-
posed TO cast g. 430 votes for Stewart, 3.i28
votes for Mayer and 3,4S2 votes for Adams.
The new Pierce directors Immediately re-
elected II. Clay Pierce chairman of ihe
board Clay Arthur Pierce president, and
Andrew NJ. Finlay vice-president Charles
NJ. Adams. who was on the Standard slate
for director, was ousted as secretary and
treasurer and T. F. Lyon was elected as
his successor.
Cleveland, Feb 15.-Notice has been re-
ceived here by stockholders of the Vacuum
oil Company, of Rochester, a former sub
sidiary Of the Standard oil Company, that
a proposition TO increase the capital stock
from S2,5OO,OOO to S15.OOO,OO0 will be voted On
at a special meeting in Rochester on Feb
ruary @. The purpose Of the increase is to
take care OF 5000, 900 Indebtedness TO the
Standard Oil Company Of New Jersey and
10 further finance the company.