Indianapolis Times, Volume 40, Number 250, Indianapolis, Marion County, 8 March 1929 — Page 2

PAGE 2

OIL CZARS BID FOR STEWART, AFTERDEFEAT Better Executive Jobs Than Indiana Standard Post Are Offered. BY EARL J. JOHNSON Culled Presc Staff Correspondent CHICAGO, March B.—New enterprises were reported beckoning to Colonel Robert W. Stewart today. From his more intimate friends it was learned that the oil industry ilready had offered him at least two positions as good or better than the $125,000-a-year one he lost at Whiting. It was considered doubtful, however, that Stewart would accept any new connections immediately but would rest for a while from the strenuous campaign against John D. Rockefeller Jr., which ended Thursday when the., big. shareholders of the Standard Oil Company of Indiana voted to oust him from the board of directors. Harry F. Sinclair, whose business dealings with “the colonel” in the Continental Trading Company Ltd., led to Rockefeller’s demand that Stewart get out or be put out of Standard Oil. is reported to have made two attractive offers to-the deposed executive. • Ousted by Company One is said to be a high position in Sinclair’s present organization, j The other report is to the effect that Sinclair is planning an immense oil merger with the Phillips and Skelly companies and wants Stewart to head the new concern. Probably never before in the history of big business has a high executive been subjected to such a humiliating experience as the one to which the unyielding Rockefeller subjected Stewart. From the seclusion of hi,s place in New York, John D. Jr., watched Colonel Stewart’s controversy with the United States senate which sought to question him about his connection with the so-called Continental Trading Company scandal. When it was all over and Stewart had been acquitted of perjury and contempt by a jury, Rockefeller made a public demand upon Stewart that he resign. Moral Worth Was Issue Although he and his family owned only 15 per cent of the stock in Stewart’s company, Rockefeller saw it as his duty to oust Stewart as “morally unfit’' to head a concern from which the Rockefellers were accepting dividends. Then began the campaign for prpxies, the lining up of the big eastern shareholders who would allow Rockefeller to vote their stock against Stewart. The campaign met with typical Rockefeller success and although John D. Jr., himself remained out of the country during the entire fight, he Von with a majority of 2,555,327 shares of stock. The climax which was reached in the Whiting Memorial Center Thursday was not the financial battle of the century as it had been pictured. Instead It was an Intensely human drama of big business. Stewart knew he was beaten before he ever started to the meeting. Perhaps he had known it for weeks. Before leaving his office in Chicago he had prepared and duplicated a statement expressing his regret at leaving the company. C. V. Julian, one of his aids, carried the statement in a brief case ready to give it out when the votes were counted. Standard Oil of Indiana resumed

STORE OPEN SATURDAY NIGHT TILL 9

Low Shoes for Men and Young Men for Spring 1929 They are Smart and Comfortable! “The Greatest Values that , Walk in Shoe Leather.” Dr. Stockton, Registered m . . ir-li KS2 La™** aGo, South . II *• I* Wm Washing!** B*4*4,

Sign of Spring

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Elmer Hartman

County officials thought some of buying bright new neckties or putting anew band on the old hat today, approaching spring having gotten into their blood with the sight of Elmer Hartman, courthouse grounds superintendent, scattering grass seed with the peculiar contraption shown strapped on him in the photograph. “Some good seed. A lot of rolling while the ground still is soft. Then some seed. April showers, May sunshine—presto, verdant sod—provided lovelorn couples don’t tramp it all down,” mused Hartman.

CENTENERIAN FAITHFUL UDINE, Italy, March B.—Antonio Valvasori, 100, claims that he has equaled or broken the world’s record for fidelity. Valvasori. on his birthday, vowed that he never had loved any woman but his lawful spouse, whom he married when he was 25. He also is faithful in remaining “on the wagon.” He hasn’t taken a drink since his early youth when one or two drunken carousals nearly cost him his life. business today, with Stewart the only major casualty in its executive personnel as a result of the Rockefeller campaign. L. L. Stephens, who aided Steward in the fight as did other board members, was defeated for re-elec-tion to the board along with his chief, but was retained as the company’s general counsel. E. G. Seubert was re-elected president but no one was elected chairman of the board. For the present that post will remain vacant with Seubert serving as titular head of the company.

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Oil—Mop—Polish ■ H§gJ§ Saturday special, famous ’'Wonder oil mop. in container, with quart bottle of polish—At both stores—Special at—i)9c

THE INDIANAPOLIS TIMES

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22-24 E. Wash. St.

Occasional and End Table Set

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