Show WHY I 1 H t Y M A D A afta I 1 R ul U S T archbold says it was done to hold Pr property in different states now new york nov 30 resuming his testimony today in ihei governments suit to dissolve the he standard dard oil company john D archbold vice president of the company was questioned about the vilas keith and chester agreement of 1879 A mr archbold told of the signers of the agreement of property held by certain individuals for the benefit odthe stockholders of the standard all properties obtained were held by the trustees after the agreement had been made mr archbold said the agreement was made as a simple method of holding property in the interest of a common ownership mr archbold told of the trust agreement men of 1882 and said that all of tho the shareholders of the standard and the beneficiaries of the vilas keith and chester agreement signed the agreement mr air archbold sald said that twenty trust certificates were issued for each single share of standard oil company stock the capital stock of tho the standard was said mr archbold but the plants and property valued at 1 mr archbold described in detail the inventory of the standard plants property erty and all assets at tile the time of the agreement all plants genc generally speaking after 1876 1875 said mr archbold were acquired for cash he then gave the reason for the formation of the standard oil trust saying it was done as a simple and effective form of holding the property wo were advised by counsel thai that neither the standard oil company of ohio nor any other corporation could effectually or safely perhaps hold the property which was widespread in many states whose laws yero vere restrictive strict ive of the rights of corb corporations orations the trusteeship was suggested r as a simple method of bringing toge together thet the property and form a token of ownership which would havo have a marlet market ket value and enable the owners to have a more effective administration mr archbold testified that the acme oil company of pennsylvania was organized to take over the properties of the acme oil company of now new york |