Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-08
STEWARDS FUTURE
REMAINS IN DOUBT
ccIcne!, Defeated in Oil Fight.
Leaves Chicago for IMAM
nounced Destination.

Rv me Associated Press.
CHICAGO, March 8.--Col. Robert W
Stewart deposed head of the Standard
"'0l Co. Of Indiana, left Chicago today
Ter ar. unannounced destination.
He apparently was moi going far,
however. for it was said al the COM
pany Offices he would return in a few
weeks
The colonel, after months of hectic
fighting with John D. Rockefeller, jr s.
forces, sought vacation and it was
believed he might &C ~ t::le Gulf or TO
Florida He was seen with his son, Rob-
ert G. Stewart president of the Pan
American Petroleum g. transport Co, a
Standard Oil subsidiary, before his de-
parture,
Nav Not Get Pension.
It was the opinion at the Standard
offices that Col Stewart would not be
c:igible for the SIS 003-a-year pension
which it was reported he would be able
to retire on. Pensions are given to en-
ploves after 25 years service. it was
explained The colonel was with the
company % years.
Not even a guess as to what he might
do in the future was made at the ex-
ecutive offices.
Stewart today had been replaced by
Edward c. Schubert as head OF the
5000. 100000 Standard Oil Co. Of In
diana.
Mr.. Schubert. who has been president
O. the company, waS not given Stewards
office IS, chairman Of the board, that
post having been abolished at the direc-
tors meeting yesterday Instead he
was named executive officer. with au-
thority similar to that exercised by Col.
Stewart.
The forces representing the younger
John .. Rockefeller, which controlled
Yesterdays annual stockholders meet
ing at which Col Stewart was removed
frc mthe board of directors, made no
attempt to name Stewards successor as
executive. They were interested only,
they explained, in removal of Col, Stew
art, whom Mr. Rockefeller had regarded
as morally unfit" to continue direction
CT the business.
Size of Vote Is Surprise.
The Stewart defeat had been freely
predicted, but the size of it was sur
prise When the vote YVES counted, the
result was:
Shares voted for John D. Rockefeller,
ir., 5.5l0,3l3.
Shares voted for Col Stewart, 1884,
eS6
Thus was Col. Stewards II years
service as executive head of the $780,
100000 corporation ended. Col. Stew
art himself presided; and when the re-
suit was announced-a defeat more
sweeping than even his adversaries had
dreamed-he smiled
Winthrop w. Aldrich of New York,
brother -in-law of John D. Rockefeller,
jr.. and his personal representative in
the fight against Stewart, was on his
feet instantly, with congratulations on
Col. Stewards fairness in the conduct Of
the meeting
In way the result was paradox
The vote was nearly two 10 one against
Col Stewart, but the individual share
holoes stood two to one behind him,
viz:
Shareholders for John D. Rockefeller,
IT,. 1904.
Shareholders for Col. Stewart, 81 1886
Only II of the 1901 employee stock
holders voted against Col. Stewart, IL
was announced.
1T would be idle for me to say I
leave the Standard Oil without regret"
said Stewart. Its affairs have been
I my very life. 1 have seen it grow IN
der the present administration from a
sl67 10000 corporation with 4,620
: stockholders. to practically billion
dollar corporation, with So 293 stock
holders One cannot disasSociate him
self from such an intimacy without
wrench"
Stephens Also Defeated.
with Col. Stewart to defeat went L.
L Stephens, general counsel, and III
this defeat the issue between Rookie
Teller and Stewart was sharply defined
The hight against Stewart had been
preoicated upon the Rockefeller belief
that Col. Stewart was morally unfit
TO continue the direction OF the COM
.pany because of his connection with the
Continental Trading Co. deal. Stephens
knew Of Col. Stewards handling of the
Continental bonds long before it be-
came a matter for investigation by the
United States Senate. His removal
from the board yesterday was regarded
as having been brought about for that
reason. e- .~'-'-
Stephens, however will be retained
rs general counsel
The new directorate as chosen yes
terday, is:
William A. Burton (former PRESIDENT
Melvin A. Traylor, Thomas S. Cook,
Gentry Cash, c. j. Barkdull, r. e.
Humphreys, Ames Ball, E. J. Bullock,
r. H McElroy. Allan jackson and Ed
ward C. Schubert. The first four are
new members. They were chosen to I'LL
vacancies created by the defeat Of Stew
art and Stephens and by death.
NoppxS ANN xvr ApC pyEASrn