Show OIL COMPANY OFFICIAL CORRECTS LIFE LIPE The recent issue of oC LIFE magazine magazine magazine mag mag- azine Illustrating a vast interconnecting interconnecting interconnecting industrial empire controlled controlled con con- trolled by descendants of th the founders of Standard OH Oil called forth the following telegram from Dr Robert E E. E Wilson Vilson chairman of oC the board of oC Standard Standard Standard Stand Stand- ard Oil OH Company Compan of Indiana Dr Wilson wired Mr Henry II n. Luce editor in chief of I LIFE FE as follows Regret your Standard Oil birthday chart in January 23 is sue gives LIFES LIFE'S readers net impression impression im im- m- m that descendants of oC original five founders of oC Standard Standard Stand Stand- ard anI Oil today dominate and have in one connected system a vast vasti i 1 Industrial n d u s 5 t r l' i a l 1 empire including everything from U. U S. S Steel to Minute l Maid Orange Juice Actually Actually Actu Actu- ally there is no such Interconnection tion or relationship as the chart chan shows So far as Standard Oil Company Compan Indiana is concerned our company became entirely in independent independent tn- tn dependent separate and distinct in 1911 and has so operated ever since We Ve have no control of policies policies policies pol pol- or practices of any other Standard Oil Company nor have an any of them of ours U Also the Implication that original founders' founders families are are a great force in current ownership of this company is manifestly in In Incorrect correct They do not have the power the chart attributes to them This is a myth mth that stems from the days long past when the Rockefeller and other founders' founders Interests were majority stockholders stockholders stockholders stock stock- holders in Standard Oil Compa Compa- nies The situation is s far different today Our records show that Cormany for Cor many years ears no institutional stockholder has owned so much muchas as five per ct cent nt of or the stock of oC our company and no Individual Indi has owned so much as one ono per cent Toda Today the relatives of the original founders of Standard Oil who own stock in this company hold only a small minority interest inter Inter- est The majority control is spread widely among man many thousands thousands thousands thou thou- sands of stockholders and effectively effectively exerted in the common Interest Interest in interest In- In terest of all stockholders There Is absolutely no such Interrelationship interrelationship with other companies as your chart so dramatically suggests sug sug- gc Standard OH Oil Company Indiana Dr Robert E E. E Wilson Chairman Chairman Chairman Chair Chair- man of the Board |