Word: cols
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Dates: during 1920-1929
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Fifteen rounds having been fought (TIME, Jan. 28 et seq.); the fight to a finish between John Davison Rockefeller Jr. and Col. Robert Wright Stewart, minority stockholder and board-chairman, respectively, of Standard Oil Co. of Indiana, continued last week as follows...
Round 16. Col. Stewart and his board of directors declared a 50% stock dividend a $1.12½ cash dividend (including a so-cent extra dividend), thus calling attention to their ability to put fat profits into the hands of the stockholders. During the brief speculative flurry which followed, Standard Oil of Indiana achieved the stock market (paper) value of a billion-dollar corporation...
Round 17. The Sun Life Insurance Co. of Montreal sent proxies for 44,000 shares to Col Stewart. Dartmouth College sent proxies for 2,360 shares to Mr. Rockefeller Jr. Julius Rosenwald, philanthropist and board-chairman of Sears, Roebuck & Co. came out for Mr. Rockefeller Jr. with the statement: "It was fitting for stockholders in any enterprise to see that the business is managed by officers whom they can trust." But Philanthropist Rosenwald's influence was moral, not financial. He owns no stock in Standard Oil of Indiana...
Round 18. As a member of the Rockefeller proxy committee, Winthrop Williams Aldrich announced that he and his colleagues held proxies for 51% of the stock of Standard Oil of Indiana, or enough to enable Mr. Rockefeller Jr. to win the fight and oust Col. Stewart. Mr Aldrich is a son of the late Senator Nelson Wilmarth Aldrich (oldtime friend and intimate of Mr. Rockefeller Sr.) . . . the younger Aldrich now attacks for his impregnable brother...
Round 19. Another able lawyer is Frank J. Hogan of Washington, D. C. He could write an authentic, an exhaustive, history of the Oil Scandals-from the point of view of Edward L. Doheny,* Albert Bacon Fall, Harry Ford Sinclair, Col. Stewart...