Rensselaer Semi-Weekly Republican, Volume 40, Number 6, Rensselaer, Jasper County, 27 September 1907 — STANDARD OIL PROFITS. [ARTICLE]

STANDARD OIL PROFITS.

Barninga from 189!) to 1900 Shown to Be $-190,315,934. Sensational disclosures regarding the fabulous earnings of Standard Oil were brought out In New York at the hearing in the suit of the United States government to dissolve the corporation. Adroit questioning drew from the reluctant lips of Clarence G. Fay, resident comptroller of the Standard Qil Company of New Jersey, theTadinission that fn seven years Standard Oil's total prdfits amounted to 541>0,313,1)34, or something over $70,000,000 a year. Mr. Fay was also forced to admit that in 1 SOD the profits were nearly $80,000,000 instead of $34,000,000 as set forth on the books of the company. The Standard Oil managed to cover up its great earnings in that year by deliberately failing to cyedit the earnings of nineteen subsidiary companies that contributed vast sums fO the parent corporation. This is the first time the company’s earnings have been made public. Figuring on the capital stock now outstanding—s9B,339.3B2—this Is an annual profit of something over 70 per cent.' Figon the basis of the Standard Oil trust, which had a capitalization of $lO,000,000 when it was dissolved and reorganized into the present comjߣe without any additional investment on the part of Mr. RockefeH.tyv' an( j his associates, the annual poifeffs something like 700 per the basis of the original Standard Oil Company, with a capitalization of $1,000,000, the annual profit is a little more than 7,000 per cent. On the basis of the little refiuery Mr. Rockefeller had when he started out, with an Invested capital principally of nerve, the percentage of annual profit is—well, the statisticians haven't figured that out yet.