The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-04-07
GREAT PRINCIPLES
INVOLVED HE SAYS
Son Of Worlds Richest Man
Says as a Director of the
Fuel Company, Where In
dustrial Strife Has Waged
He has Done His Part III
Giving American Work
man Freedom.
BY ASSOCIATED PRESS.

Washington, April 6.-John d. Rock
efelIer, Jr., son of the worlds richest
man, testified before the house mines
committee today regarding his moral
responsibility for the industrial strife
| in the Colorado coal fields. Said he
and three other directors represented
his fathers forty per cent interest
in the Colorado Fuel and Iron Com
pany and fulfilled his duty in plac-
ing competent men in charge. He
said it was a fight for principles of
freedom of labor and he would rather
lose all than have American workmen
deprived of the right to work for
whom they pleased"
Mr.. Rockefeller contended that re
sponsibility for the conduct of cor
Iporations lay not only with the stock
holders or directors but with the Qfh !.
GERS of the company.
"In these days when business inter-
ests are so diversified and directors are
members of SO many boards, the best
they can do is to appoint officers and
hold them responsibility Ahe said.
Don't you think the fact that the
government has found it necessary to
take action warrant you in taking more
than a passing interest In the sltua-
tion?" asked Chairman Foster.
is CLOSELY CONCERNED.
ct have taken more than a passing
"Tne vast sums of money involved and
the great disorder in the field con-
cerned me closely. But 1 have done all
l could have done. The officers of the
company have been held responsible
and if we are at any time convinced
their policies are mistaken we Will
Immediately remove them. / am one
of my fathers representatives in this,
as in others of his personal invest
ments.'
.A,SS
Mr.. Rockefeller outlined his fathers
holdings in the securities of the Colo
RADIO Fuel and Iron Company thus:
Common stock 1880 out of 342, ,355
shares: preferred stock 7,943 shares out
of 10000 shares Bonds: Colorado In
dustriaI Company five per cents Sl4,-
100000 out of $33, ,437. 900.
Other holdings were Colorado Fuel
and Iron Company general per cents
1856 900 out of $5,63S,O00.
Mr.. Rockefeller said the only divl-
dends paid by the company We're in
1913. The interest of his father in the
concern was represented. he said, in
the directorate by himself, Starr j.
Murphy. and John d. Green. j. II. NC
Kenna and L. NJ. Bowers, he said, were
indirect representatives"
Representative BYrneS questioned
MIR. Rockefeller about endorsing what
Bowers had done in dealing with the
strike. The witness said that while
Bowers was not personally represent
ing. the Rockefeller interests. he had
written to him saying he would stand
by what had been done in Colorado.
You are what is called a dummy
director. aren't you?" asked Chairman
Foster.
well. we don't call it that" said
Mr. Rockefeller.
He added that he had no time to
look into conditions in the Colorado
fields.
Don't YOU think if director hasn't
time. he ought to put some one IN his
place who would have time" asked
the chairman.
eff I thought | were not conscienti-
ousIv doing my duty. l should of
course at once resign" said Mr..
Continued on Page TwoD