Jasper County Democrat, Volume 10, Number 25, Rensselaer, Jasper County, 21 September 1907 — STANDARDDIL’S GAffIS [ARTICLE]

STANDARDDIL’S GAffIS

Takas Nine Figures to State Them for a Period of Eight Years, ‘99-’O6. ANOTHER TRIAL HAS REGUR Government Inquisitor Has the Hand* ling of the Rack Again. Chicago Court Makes a Record Breaking Bond for the Big Trust Six Millions To Be Put Up.

New York, Sept. 18.—Delving Into the financial workings of the Standard Oil Company of New Jersey, the bolding company of all the subsidiary organisations of the so-called oil trust, Frank B. Kellogg, conducting the federal suit for the dissolution of the company, brought forth to public view for the first time the enormous profits made by the Standard Oil company. In a period of eight years, from 1899 to 1906 Inclusive, the Standard OH company, on a statement spread upon the record of the hearing, was shown to have earned the total profits of $490,315,034, or at the rate of more than $61,000,000 a year, and distributed to Its shareholders In the same period $308,359,408. Dug Up Some Fresh Facts. While the company was earning these vast sums in the refining of oil the statements adduced at the hearing show that between 1899 and 1906 the assets of the company grew from $200,791,523 to $371,664,531. The capital stock Is $98,338,382. Financiers and those seeking knowledge of the exact profits of the Standard oil company have striven vainly to obtain the figures which Kellogg has succeeded in placing upon the record •of the court All Except 1,000 Shares. Kellogg also obtained a statement showing that the Standard OH company of New Jersey controlled by stock ownership over seventy companies engaged in the refining and the transportation by pipe line of oil on Sept. 14, 1907. The Standard OH company had always carefully guarded the list of Its subsidiary companies and the amount of its shareholdings. The list showed that this company owned $999.0000f the total capital stock of $1,000,000 of the Standard Oil Company of Indiana, which was recently fined $29,240,000 by Judge Landis. Those Subsidiary Corporations. The following list was introduced as evidence by Kellogg, showing the nineteen subsidiary corrHyrations transferred to the Standard Oil Company of New Jersey, upon its formation in 1899, by the liquidating trustees: Anglo-American Oil company; Atlantic Refining company; Buckeye Pipe Line company; Eureka Pipe Line company: Forest Oil company; Indiana Pipe Line company; National Transit company - New York Transit company; Northern Pipe Line company; Northwestern ■ Ohio National Gas company: Ohio Oil company; Solar .Refining company; . Southern Pipe Line company: South Pennsylvania Oil company; Standard Oil Company of Indiana: Standard Oil Company of Kentucky: Standard Oil Company of New Jersey and Ohio; Standard OH Company of New Jersey; United Tank Line company. New York, Sept. 19.—Profits Of more than 1,000 per cent, per year are made by the Standard Oil Company of Indiana, the corporation sentenced to pay a fine of $29,240,000 by Judge Landis in Chicago. The company’s profits for 1906 were $10,516,082 and in 1905 they were $8,853,410, a total for two years’ business of $19,269,492, The Standard Oil Company of New Jersey owns 9,990 shares of the Indiana company's stock. The Indiana company is capitalized at $1,000,000. The dividend paid by the Standard OH company of Indiana last year aggregated $4,495,506 or a little more than $6,000,000,000 less tluui-the profits. - The figures were presented in the federal proceedings here against the Standard Oil Company of New Jersey. The dhidends and profits of sixteen other subsidiary corporations were also given.

Nqw York, Sept. 10.—Evidence was addmed at the hearing of the federal suit against the Standard Oil Company' of New Jersey, which Frank B. Kellogg, who is conducting the government’s action, says tends to prove that the Standard Oil company is operating in Texas under the nunie of the Corsicana Refining company. The Texas anti-trust laws forbid the Standand from doing business within the borders of that state. Mr. Kellogg developed from Wesley IT. 'll)ford, treasurer of the Standard Oil company, that E. C. Folger and C- M. Payne, who, Mr. Kellogg says, are the owners of the Corsicana company, are officials of the Standard Oil company. Mr. Kellogg further developed the fact that John D. Rockefeller In 1892 at the time of the dissolution of the Standard QU trust owned 256,854 shares out.of a total of 972,500 shares of trust certificates. SIX MILLION DOLLAR BOND What the Standard Must Give in the Rebate Case. Chicago, Sept. 18. The Standard Oil Company of Indiana, in order to obtain a supersedeas staying execution on its property to satisfy the

judgment of $29,240,000 imposed by Judge Landis, pending the hearing of the defendant company’s appeal in the United States circuit court of appeals, mult furnish bonds amounting to $6,000,000. Judge Teter S. Grosscup, of the United States circuit court, so decided, much to the chagrin of both the attorneys for the defense and the government. Attorneys John S. Miller,’ Alfred D, Eddy and Merritt Starr, representing the oil company, had been working ha rd .for a bond of not more than $1,000,000 while District Attorney Sims and his assistants. Harry A. Parkin and James 11. Wilkerson, demended a bond equal to the amount of Judge Landis' record-breaking fine. Neither side expected to get its desires fully satisfied, but Miller and his associates had hoped that the maximum demand of JudgeGrosscup would be $2,000,000 or $3,000,000, while the government lawyers believed they' could convince the court that no bonds . less than $10,000,000 or sls,ooo^ooo' should be accepted. ■ Puzzled by the | probable inability of the defendant company to obtain surety for both of j these big bonds. Attorney Miller Tetter- 1 ated his suggestions that the Standard Oil Company of New Jersey be accepted as surety, but this was not taken kindly by Sims. Because of his dissatisfaction as to tills matter, Sims asked for time to give the question of surety consideration, and Judge Gros.4eup consented.