Show TESTIMONY IN DETAIL Reason for Formation of the Trust Given by Mr Archbold New York Nov 20 Resuming his tes testimony testimony timon today toda In the government suit to dissolve the Standard OH company Compan John D Archbold vice president of ot the com corn company company pany was questioned about the tIte Vly VI Keith and Chester agreement of 1579 Mr Archbold told of ot the signers of ot the agreement and of or the property held to b by certain Individuals for the benefit of the stockholders of oC the Standard All AU prop properties properties properties obtained were held by b the trus trustees trustees trustees tees after atter the agreement had hall been made Mr Ir Archbold said the agreement was as made as a simple method of holding property In the Interest of oC a common ownership ll Mr Archbold told of the trust agree agreement ment meat of 1882 1 and said that all the share shareholders shareholders shareholders holders of or the th Standard and ana an the benefi beneti beneficiaries clarles of or the Vilas Keith and sad Chester Chestr r agreement signed the agreement Mr Archbold said that twenty trust certificates certificates cates were issued for each single share of Standard Oil company com pan stock f I The of the Standard was w sv s said Mr r ir h bold b plants and tre t r t Mr Archbold described in detail the Inventory of the Standards plants prop property erty and all assets at the time of the agreement Reason for Forming the Trust All plants generally speaking after said Mr Ir Archbold were acquired for forcash forcash forcash cash Ke He then gave gae the reason for the formation of the Standard Oil trust say sa ing In It was done as a simple and effective eff e form of holding the property We were advised by counsel that neither the Stand Standard Standard Standard ard Oil Company of ot Ohio nor any other corporation could effectually or safely perhaps hold the property which was widespread In many states whose laws were restrictive of the th rights of corpo corporations corporations corporations rations The trusteeship was ivas suggested as a simple method d of bringing together the property and form a token of ot own ownership ownership ownership which would have a market value and enable the owners to have a more effective administration Mr r Archbold testified that the Acme Oil company compan of ot Pennsylvania was as ts organ organized organIzed organized to take over Oer the properties of ot the Acme Oil company of or New ew York ork Mr r Archbold said that the stock of the tile which had been owned by hi the Standard had been trans transferred transferred transferred to t the Oil com corn company company pany and was now owned by b that com corn company company pany panyA A statement was offered In evidence giving names of all companI companies now owned by b the Standard showing the date of organization and the changes c anges In capital as well as the properties owned by the companies New York 7 and ind nd New Jersey Com Corn Companies anies Mr Archbold said tl that the trustees of ot the Standard OH Oil company after atter Its or organization organization organization formed the Standard Oil com corn companies companIes panics of New Ne York and New Nev Jersey to hold properties which had previously previous been held by the Standard Interests Int The wit witness witness ness said the Standard companies of ot New NewYork York and New Jersey were still the same sam companies as those formed in 1552 The capital stock of the Standard Oil Oi Company of or New Jersey was In InI 1882 I but was increased In 1592 to And In 1399 19 to of which 10 was preferred f The vice rice president of the Standard said sale that the trustees of ot o the trust organized and developed many man compa Continued on n Page 2 EVERY PART OF WORLD REACHED Continued from Page 1 flies nies with wih mory obtained from the trust With some of ot the companies mentioned were the Solar Refining company compan the Standard Oil 01 companies of Kansas and Indiana Indiana and the Union Tank line Through the National Transit company the Standard Interests constructed tUc t c Buckeye the Cumberland and other pipe pipeline pipeline line companies s Statements showing thu the companies owned owed or controlled by the Standard In 1830 submitted In dence 1 were evi evidence evidence evidence Strong Competition Mr Ir Archbold said aid the Standard met with competition in all al the oil oi markets In the world word and submitted in n evidence a statement showing the names of com coni competitors outside the United States State There Thero were 4 0 companies companie competing with the Standard for the worlds market said sail Mr Mn r Archbold and of these thee the capital pital of or 2 companies was not known The total capitalization of 17 foreign compa companies companies nies was Of O the total amount of ot illuminating oil al refined In 1906 19 by the Standard Mr Ir Arch Archbold ArChbold Archbold bold said that 63 G per pr cent was sold abroad and 37 per cent at home Mr Archbold I told of at the difficulties in thi th introduction of ot refined oils ois abroad There was much competition from oil eil 01 Interests in the th Dutch Indies Indle said Mr Archbold and ad the task tk of maintaining the business in the Orient was very ver difficult te Helped by State Department Our state department has helped us much said sad Mr fr Archbold In fact tact we weave have ave been better beter treated with Ith reference to our foreign business than Ihan with our ou business at home There is hardly a aport port of ot the he world said Mr 11 Archbold that the Standard does oes not reach reah with wih Its It products He H said that the Standard was wa putting forth every ever effort efort to reach the consumers di direct direct direct in the Orient There ere tre 12 Inde Independent Inde independent pendent competitive refineries of ot oil 01 in inthe Inthe inthe the country countr he declared elar d dAn morrow morro An adjournment was as taken until to tomorrow tomorrOW I |