Democratic Sentinel, Volume 12, Number 7, Rensselaer, Jasper County, 9 March 1888 — WEEKLY BUDGET. [ARTICLE]

WEEKLY BUDGET.

TEE EASTERN STATES. The Grand Jury at New York failed to indict Gould and Sage for the alleged larceny of 13,000,000 worth of Denver and Pacific Railroad bonds. This ends all proceedings against the two Wall street magnates. A loss of three-quarters of a million dollars was entailed by the burning of th 9 Union Square Theater and Morton House, adjoining, in New York. Several firemen were badly hurt by falling walls. John D. Rockafeixee appeared before the New York Senate Trust-investigating Committee, and testified that he was the President of the Standard Oil Company of Ohio, and a member of the Standard Oil trust He produced the agreement, asking that its contents be kept from the press, as it contained private matter. Mr. Rockafeller said the trust was started with $70,000,000 capital, which bad been increased by stock dividends to $90,000,000. He believed all the refiueries entering into Ilia agreement were corporations. No companies were taken afterward except for reasonable value of their refineries. No efforts had been made to force their stocks down in order to force them into the trust The witness said that the oil product of the country is about 27,000,000 barrels annually. Three-quarters of this is controlled by the tn»t The trust certificates are worth $165, par value SIOO. They have beeu higher. In 1187 the shareholders received 20 per cent more stock, and in addition a dividend of 10 per cent Dividends have boon declared every three months, the average being 7% per cent, annually.