Rockefeller v. Stewart

Rockefeller v. Stewart

Nine rounds having been fought (TIME, Jan. 28), the fight to a finish between John Davison Rockefeller Jr. and Col. Robert Wright Stewart, minority stockholder and big board-chairman, respectively, of Standard Oil Co. of Indiana, continued last week as follows:

Round 10. While Mr. Rockefeller Jr. was being feted in Egypt by Prince Mohammed Ali, his Manhattan office announced that he would make no change in the policies of Standard of Indiana if he succeeds in ousting Col. Stewart at the stockholders' meeting on March 7.

Round 11. In Chicago, Col. Stewart asked the question: What does Mr. Rockefeller Jr. know about Standard of Indiana? --and answered it himself. "They [Rockefeller and his associate, Thomas M. Debevoise] have never visited a refinery or sales station or producing property of the company. Nor outside of one or two officers or directors do they know a person in the entire organization. The present prosperity of this company has not just happened; it is the result of earnest, loyal work and toil from the board of directors to office boys." Increasingly, during the last two years, have Standard Oil of Indiana and Standard Oil of New Jersey become competitors, invaded each other's territory both in the U. S. and abroad. The New Jersey company is a Rockefeller stronghold. Hence, the result of the Rockefeller-Stewart fight in the Indiana Company may be of far more than man-to-man significance.

Round Twelve. Rockefeller Jr. resumed his tactics of the tenth round. This time his feint was an observance of the amenities: He paid his respects in Cairo to King Fuad. At the same time his Manhattan office through Thomas M. Debe voise, collector of pro-Rockefeller proxies, announced,. "We now feel confident of having enough proxies. We shall continue bending our energies to obtain many more stockholders for our side, for we are anxious to lead in the number of voters as well as in the volume of share-holders."