Jasper County Democrat, Volume 11, Number 51, Rensselaer, Jasper County, 28 November 1908 — DISOWNED BY JOHN D, [ARTICLE]

DISOWNED BY JOHN D,

Say* Hs Was Not the Man Who Invented the Great Standard Oil Trust, ■—II ■■■ 18 MODEST AB TO HIS ABILITY • f Scheme Greater Than Any One He Could Have Planned. Railway Preaident* at One Time Stockholders la the Big Com-pany-Trust Stock Meld tor Individuals. New York, Nov. 24.—Credit for the creation of the Standard Oil trust—which counsel for the federal government allege still exists as the Standard Oil company of New Jersey—vraa given by John D. Rockefeller as a witness under cross-examination tn the

federal suit to dissolve the Standard, to two men, Henry M. Flagler and Samuel C. T. Todd. To these two master architects of the oil combine Rockefeller gave full credit, saying he was sure it was not himself, as he did not possess the ability for so progressive a move. Rockefeller spent an arduous day on the stand under the Incessant questioning of Frank B. Kellogg, the government counsel, and when adjournment was taken he gave every evidence of delight that the day was done. Trail of Some Missing Books. Kellogg, who with other government investigators, has been endeavoring for over a year to locate the missing stock transfer books of the Standard OU trust, sought through Rockefeller to find the missing trail to these books, and Rockefeller promised to do what he could to find them. Rockefeller’s examination carried him through the period of the Standard Oil trust and the years of Its subsequent liquidation, whloh lasted from 1892 to 1899. During the day Kellogg developed from Rockefeller that early In the Industrial existence of the Standard ‘ the presidents of two railroad companies, together with several railroad directors, were stockholders tn the oil combination. Vanderbilt Once a Stockholder. In testifying as to railroad presidents and directors holding stock tn the Standard. Rockefeller said that they may have but it was for a short time or a trifling amount. W. H. Vanderbilt was ope of these men. When Kellogg asked if certain papers did not show certain facts Rockefeller invariably replied that the paper would be the best evidence. He identified fifteen small companies which bad been bought by the Standard and said twenty or twenty-five Cleveland concerns had been purchased. He could not tell, without thinking it over, bow many purchased plants had been put out of business.

WHO RAN THE COMPANIES Original Owners Seem to {Have Done So—Acme Independent? In reply to questions as to who ran certain companies after their purchase by the" Standard Rockefeller was somewhat uncertain, but thought that the De Voe people managed that plant; Carley, the Chesa-Oarley company; Pitcairn and Vandergrift, original owners. the Imperial; Warden, Frew and Lockhart, the Atlantic, etc. The bash of value of the purchases. Rockefeller said, was a fair one.

The question came up of the position of the Acme company, whether after Its foreclosure It continued as an Independent company. Rockefeller was certain that it wos so operated until after 1882 when Archbold managed it for a time. After testifying to the acquisition of other companies by purchase of stock Rockefeller said that the trust agreement of 1879 was made to hold those stocks for the benefit of the individuals for whom they had been acquired. Kellogg asked whether the shares were held for the Standard or 'for individuals, and Rockefeller said he would judge that the Standard Oil company held the certificates in the names of individuals All the companies were managed by their own managers and each manager was doing an Independent business, f ■ Then came the question: "Who got up this Standard OH trust?*' and Rockefeller replied: "I should say that H. M. Flagler and S. C. T. Dodd should have the credit. I am sure it was not I. I not so learned in legal matters aS that. I do not ciaim any credit, for Mr. Flag'er and Mr. Dodd should have full credit." Reply, lug to questions about the acquisition of pipe lines of the Standard Oil company, Rockefeller said: "I did not construct the first pipe lines for transportation of oil. * Quite a number of lines were constructed before we began to build and buy. We did not begin to buy those lines until 1873 or 1874.” He did not recall that the Standard owns 31 per cent of the Tidewater: nor a conference in which an offer of $5,000,000 was made for the Lombard pipe line; nor how the stock of the Tidewater came into possession of the Standard; nor that the Standard got possession of the United States pipe line. He did not think the Standard built the first refinery, the first tank car or tank steamer, but when asked If the Standard's innovation were the buying up of such things already eetablished. he replied: "Oh, I should think not.” This ended the day’s examination.