The Worthington advance., 1880-06-24
OIL AND WHEAT.

The Standard or Company Buytn0 Up
Large Quantities Of Minnesofa Wheat
Lands.
ITitusville, Pa. telegram tn Gin. Enquirer l4th
The first issue of the Petroleum World.
the oil-produoers' new paper, will tomorrow
morning publish the details of the Standard
Oil oompany's latest conception in the way
Of monopoly, which appears to be move
ment on the part of the Standard to get con-
troll of the wheat markets of tho world. This
information is now given to the public for
the first time. During the past few months
the Standard has had agents through the
Northwest buying lands, principally in Min
nesota, for which in every instance cash has
been paid. None but the best wheat lands
are being taken. These purchases have
already amounted to 10000 acres in Minne.
sofa alone. Two weeks ago a man was
sent quietly from Pittsburg to superin-
tend large portion of this land. OF the
400 acres, 1000 will be broken up and
cultivated in wheat this yesr. Purchasing
agents are still in the Northwest, and the
work OF gobbling lands continues. This
purchasing committee travels in q special
car, and when they encounter tract of land
that suits them, it is at once absorbed. Much
of this property is in the shape of land
grants to railroads. It is the intention of
tho Standard to possess million acres of
the choicest wheat lands of the West before
another year. The chances are that they
will have this enormous quantity inside Of
six months, as the work of buying is being
carried on in the most prince
iy manner. Whole townships and
counties are passing in blocks
into the hands of the Standard. It is said
to be tho most gigantic land speculation that
any oonntry has ever known, and yet 80
secretly haa it been carried on that nobody
outside of the giant oil monopoly knew Of
it until 40 900 acres had been gobbled up.
These enormous purchases are being made
from the profits of the Standard oil busi-
ness, q large percentage of which comes in
the shape Of rebates from railroads.. None
Of The capital stock Of the company is being
tied up in this land grab. Discussing the
big speculation, a prominent railroad man
says: 'In this railroad managers can SEQ
some of the re:ults of permitting corpora
ton like the Standard Oil company to exact
drawbacks and rebates ON shipments. Aside
from rebates on freights, a large portion of
the Standards profits comes from their
manipulation of tho oil markets. These are
but two of the sources whence the monopoly
can draw for tho capital they are now invest
ing in these Western lands. A corporation
that can increase its assets to $22, ,OOO, 600 in
ten years on capital Of 100000, control
legislatures and the three great trunk lines
of the country, is probably not pressed for
funds. The opinion obtains among those
who are cognizant of this move of the
Standard that the object is to get control of
the wheat market IS they now control tho
oil market. They will belarge producers of
wheat. and, if necessary, large buyers as we'll.
It is thought their power over the railroads,
as shown in the transportation Of oil, will
enable the Standard to say to the world Just
how much it shall pay them fer its daily
bread.