Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1880-08-19
A Monster Monopoly.

ldSlCttC0 rOliOAttSNAfNS OAi eAAN -
dustrial interests of the country
with the same tenacity that the
devil fish does on its prey, none
have grown SO rapidly or exerted
a more baneful influence than
the corporation known as the
Standard Oil Company. This
concern commenced operations
some fifteen years ago with a
nominal capital Of 100000. Yet
such has been its growth that it
is said to have an actual capital
Of over $22,0O0,000. From the
first day Of its existence its
course has been one Of aggres-
sion. Unwilling to meet rival
companies in honorable compe-
tition, it has by bribery and di-
viding with railroad officials, OBJ
tanned rates for transportation
fer oils that rendered it impos-
sible for other oil companies to
sell their products in the same
markets without submitting to a
ruinous loss. By this means it
has been able to crush out all
opposition, and its ruinous eff
iects on the business of refining
oils, is attested by scores of "a
bandoned refineries to be found
in the oil regions.
Having virtual control of the
railroads and pipe lines, it has,
until recently, been able to die
tate prices for crude oil, and by
compelling well owners to sell
at ruinously low rates, rendered
hundreds of them bankrupt who,
had there been free competition,
would have done a profitable
business. BY a liberal distribu-
tion of a portion of the wealth
eXtorted from consumers Of car
bon oils, it has, with the addition
Of such corrupt creatures as
Kemble, of addition, division
and silence" fame, who recently
escaped the State prison by the
leniency of an equally corrupt
pardoning board, been able to
control the Pa. Legislature and
thereby avoid all Investigations
as regards the rates paid fol
transportation of its goods, and
the refusal of the railroads to
carry oils for other dealers and
refncrs.
A few months since it sought
to control the price of spirits of
turpentine, and advanced the
price nearly 100 per cent, al
though there was no material
scarcity in the supply as com
pared with the demand. But
for some cause it abandoned that
field, and the prices soon fell to
old figures.
Having gained control of the
oil market and being in a posi-
ton to dictate the price Of light
to all who obtain that blessing
by the use Of carbon oil, this
company is now making a. bold
move to obtain control of the
future wheat market, and there
by dictate the price of bread, re-
lying, no doubt, on its ability to
exert the same influence in grain
that it has in oil freights. Re
ierring tC its recent move in this
direction, an apparently well-in-
formed authority in the oil re-
gions Of Pennsylvania says:
During the past few months
the Standard has had agents
throughout the Northwest buy
ing lands, principally in Mime
sofa, 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 Minnesota alone. Two weeks
ago a man was sent quietly from
Pittsburg to superintend large
portion Of this land. OF the
10000 acres, 10000 will be bro
ken up and cultivated in wheat
this year. Purchasing agents
are still in the Northwest, and
the work of gobbling lands con-
tinues- This Purchasing Com
mlItec tfaVel III special car,
and when they encounter a tract
of land that suits them, it is at
once absorbed. Much of the
property is in the shape of land
grants to railroads. 1t is the
intention of the Standard to pos
sess a million acres Of the choi-
cest wheat lands of the West
before another year. The chan.
ces are that they will have this
, enormous quantity inside of six
months, as the work Of buying
is being carried on in the most
, princely manner. Whole town.
ships and counties are passing
in blocks into the hands of the
Standard. 1t is said to be the
! most gigantic land speculation
that any country has ever known
4