Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-04
OIL ROW DECISION
IS DUE THURSDAY
Victory for Either Party in
Preliminary Clash May
Mean Court Fight.
By the Consolidated Press Association.

By the Consolidated Press Association.
WHITING, Ind, March Big bust
ness battle of the century" goes the
+! full route to decision this week, when
the champion hea,vyweights in the oil
world clash here to determine control
of the gigantic Standard OIL Co. OF
| Indiana. =
The two battlers-Col Robert w.
Stewart, chairman of the board, and
John d. Rockefeller, jr., whose name
symbolizes oil-stand ready to uncork-
| all the tricks of the game to push any
advantage. This means that it Is not
at all certain that the encounter here
March 2 will be the final clash of the
two oil giants.
When the verdict is given by the
| 100000 proxies. if favorable to Col.
Stewart. the Rockefeller forces are ex-
pected to announce that they have just
begun to fight. They may claim the
right to select a minority Of the board
of directors and dig in for further eff
forts to unseat the chairman.
Court Fight Held Probable.
In the event that the Rockefeller
forces come out on top of the vote
scramble, then a long -drawn-out court
fight may ensue. The Stewart forces
are rumored to be ready to seek what is
being termed a "billion-dollar injunc-
ton" to prevent vote on change in
management. The report is that
Rockefeller would be used as the basis
violated the Federal court decree of
May rs, 1911, forcing a breakup of
the Standard Oil Co. as a monopoly in
restraint of trade,
The Supreme Court decision then
said:
we construe the decree, not as de-
priving the stockholders Of the cor
porations after the dissolution of the
comhipation Of the power to make nor
NAL and lawful contracts or agree
ments. but as restraining them from,
by any device whatever, recreating di-
rectly or indirectly, the illegal combi-
nation which the decree dissolved"
The attempt would be to show that
the Rockefellers were seeking again to
obtain control of the individual Stand
ard Oil Co
Whatever the outcome. the stockhold-
ers are so eager to get ringside seats
for the big battle that the arena has
ministration building here to the COM
munity hall. There are 1900 seats
available.
May Know Lineup Today.
Fairly definite information on the
final lineup. indicating the outcome of
the fight, should be had by officials of
the company today when all proxies
must be filed If the holders want to
get in on the battle.
Whether all of them are to count
n iS
nary contests on Thursday will involve
q decision on this matter. with Charles
Evans Hughes, former justice of the
United States Supreme Court and
former Secretary of State. taking the
Rockefellers' side. Stewart himself and
his attorney, A. w. Hopkins, will up
hold the side of the board.
The Rockefeller group enters the
final struggle claiming 81 per cent of
the total possible proxies and 10000 out
OF the $1,000 stockholders on its side.
Should this prove true, the battle would
be all over but the shouting and the
denied by the Stewart forces, who con-
tend that their opponents can't know
what their status Is because they do not
have the proxy books. Stewart claims
that $4,000 stockholders are already
behind him, with 5000 still having
failed to vote - A'sg
The. bitterness of the antagonism be-
tween the two contending groups prob
ably seldom has been rivaled in an in
dustrial fight. Each side has invited
broadsides against the other. charging
moral and mental. incapacity, with little
lnincing OF words
Schubert Is Mentioned.
+ To the victor in Thursdays fight
might be- expected to 60 the spoils.
This has given rise to the prediction
IN some quarters that a Rockefeller
decision would mean the retirement OF
virtually all Of the present board OF
directors. In that case three names
Of possible chairmen, favorable to the
Oil kings family, are mentioned-K. r.
Kingsbury, president Of the Standard
Oil Co. of California; w. S. Parrish,
president of the Humble Oil Co, a
subsidiary of the Standard of New
Jersey, or James Moffatt, vice president
Of the New Jersey company
But Mr.. Rockefeller, jr., has publicly
commended E, o. Schubert, president of
the Standard of Indiana, who is SUD-
porting Stewart If the move is sim
ply to Gust the present chairman then
Mr.. Schubert is expected to receive the
Craftsmanship. If control of the COM
pany is sought by the Rockefellers, then
one OF the other men might be named.
Copyright, 1929