The Petroleum Centre daily record. [volume] (Petroleum Center, Pa.) 1868-1873, 1872-03-08
The War on the Monopoly.

4IlC W al UU tInC NAVn1VRsv1ys
A brief history Of the causes Of The PRES
snt excitement prevailing throughout the
Oil Region, may not be uuintefssting to the
general reader outside Of this locality.
wHAT THE 8. /. CO. ARE.
The Southern Improvement Company are
roguisrly incorporated BY charter from our
STATE Legislature. To show how oompre-
hsnsive sbsr,er they have, we give the
following sections Of the document:
SECTION l. That ibe incorporation here
BY created shsll have power to contract
with any persoa, persons, corporation or
any other party howsosvsr formed, existing.
Or that may hereafter exist, to build, con-
tract maintain or manage, any work, public
o. private, snd supply or furnish ell nesdiul
material, labor, Implements, Instruments
snd axtares Of suy and every kind wha.so-
ever, on such terms and conditions ss may
sy sgresd upon between the parties respec-
tivslyj and shall have full power and su-
thority to hold and owu sscuritiss Of any
form, either as collateral or Otherwise, and
dispose Of the same st pleasure, and shall
have the power 10 hold, own snd dispose Of
such other personal or real ssiats - . ma.
jority Of the stockholdsrs Of said corporation
may st auy time approve, 10 writing, or BY
resolution, at any meeting Of the shock hold
ers.
SECTION 8. The capital stock Of said com.
psny shall consist Of two thousand shares
Of stock, oiIshe value Of dfty dollars each,
being enc hundred thousand dollars, with
the privilege 10 increase the same, by
majority Of the stoskholdefs; st any annual
or special meeting, to sueh amount as they
may rem time to time deem pesdfai.
TETS EXTENSIVE CHARTER.
Tbs Petroleum business which 10 short
dozen yssis has assamsd suinpoftancs only
third in extent and value among The miner
al products Of the country, seemed q prize
worth going for.
PREPARING TO GoBBLJ.
For ayssr past'the red nsrg Of Clsvsland
and Pittsburgh have not made msnsy. %
they ssy, and attribute 1t to the general
mismansgsmsn Of the Petroleum bust ness
here.
THs TRUE CAUSE
consists in the fact that their reansrs are
located ct too great distance from the
place Of production. Refining can only b
made profitable st the place Of production.
The producers naturally decline to
GIVE \ BoXUs,
to Cleveland or Pittsburgh refioers, to en-.
able them to compete with the re6nsr on
the Crsek. The difference 10 the eost Of 70.
lining 10 the two localities, is little less than
the cost Of freight. 1t has beesns, nnaci-
ally
a NATTER OF LIFE OR DEATH
with the outside rriners to effect this. Be-
ing feressen, some time ago, this charter
was aahsd up, and The Organization Of The
Southern improvement Company effected
under their charter.
WHO THEY ARE.
The company consists ofthe leading re-
nusrs Of Pitt sburgh and Cleveland, and one
or two brokers snd eommi, sien men Of,
Philadelphia and New Fork. These wor.
tbies formed . plso 10 monopoilze the en-.
tire Petroisum business; and short time
since presented II for 1.-The consideration Of
the several mausgemsnts Of
TEE OIL RH9IoN RAILROADS
A favorable rate ofirsights, and the grant.
Ing Of drawback to'sil members OF tue 8.
I. Co., they contracting 10 furnish for ship
ment specified smouat ot oil, was sll that
wanting 10 complete the natter. The facts
60 to sbsw that the railroad companies
went isto the arrangement, and sppo inlsd
P. H. Watson, OF the l.. S & N. s. R. X.
~ the arbitrator.
HOW THEY ACCOMPLISHED THIS.
The S. l. Co. represented to the rsikssd'
that they owned or controlled oil
The Greek ienneriss, and represented the
bulk Of the refining interests OF Clevelssd
aud Pittsburgh, and could easily secure The
producing interest. They in tact bad poe
session Of
THE ENTIRE PETRoLEUN TRADE,
and that this being the case, they would
handle the business, make trsights uniform.
.R~.k oo.ta.t .,,~,.,sg>. 49,