New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-28
BORING INTO AN OIL TRUST.
JOHN d. ROCKEFBLLER UNDER FIRE.
HE uEARs HIS FAMOUS AGREEMENT READ

PRESIDENT OF THE STANDARD Oil TRUST
THAT THIS BIGGEST or ALL CoMbINA-
TIoNs Is PUBLIC BLESSING
$4,000 YEAR FOR EVERY
TRUsrEs-MANY TILTs BE-
TWEEN COUNSEL.
The Senate Committee on General Laws, who
are all lawyers and presumably skilled in getting
out OF witness what he doesn't want to tell,
yesterday undertook to get at the true inwardness
OF the biggest trust of all-the Standard Oil Trust
All day. with an intermission for luncheon. the
investigation was kept up In Part III of the Super
Tor Court. There were not so many people present
as one would have expected considering the fame
Of the Standard Oil Company as the biggest and
most far-reachng of the monopoly species.
or course there were learned lawyers present 10
see that the committee didn't stick their invcsti-
eating probes in deep enough to do much hurt
Foremost among these Joseph III. Choate, sad
eyed and classical looking whose head is full OF
legal lore, and whose tongue is freighted with
eloquence. But on this particular occasion 10
wasn't his business TO do much talking, and he
listened to the proceedings with air of ill-con-
cealed ennui as though to him It was all a twice.
told tale Cheerful, ruddy and bulky Lawyer
A. c. Dodd seemed to proclaim to the world what
delightful thing It was to have charge OF the
legal affairs of tho Standard Oil concern. Asso-
ciated with him was ex-Congressman Camp, thin,
slender and darll-eyed, looking well qualified 10
play Cassus to Mr.. DOdd's Caesar. The ever
exuberant but sometimes sarcastic Colonel George
Bliss and General Pryor, of the long hair, long
nose, long upper-lip long index finger and intense
longing for bottom facts, constituted the legal
support Of the committee.
PRESIDENT ROCKEFELLER on THE STAND.
John ID. Rockefeller, president Of the Standard
Oil Trust, kept the witness chair warm nearly tho
xyho Ia sopmp1 hp ahodim Of
sweetness and light His serenity could mob
be disturbed. With the same sweet smile he re-
piled to Colonel Blisss sarcasms or General Pryor's
scOrnful adjurations. In tones meodious, clear
and deliberate he gave his testimony. The
Standard Oil people did well TO select him TO bear
the brunt of the battle. At times his manner was
mildly reproachful at Others tenderly persuasive,
but never did he betray any ll-temper veXation,
IIe had close-cropped light-brown mustache,
sparse hair of the same color and eyes sad and
dreamy. He wore frock coat II Is only when
his face is in profile that IL exhibits any indi
cations of the shrewdness Of which he has given
such abundant evidence.
When fronting one, these characteristics seem 70
vanish and are replaced by that aspect of mild
benignty which one Is accustomed to expect in
the SundayscNool or the pulpit: When sworn; no
imprinted fair and square kiss upon the Bible;
He said that he was president Of the Standard Oil
Company Of Ohio, which was an organization dis
tant from the other Standard Oil companies. His
brother. William Rockefeller, was the president
of the Standard Oil Company Of Ncw-Yor<
Do you know anything about the Standard
Oil Trust 2" asked Colonel Bliss.
II do" replied Mr.. Rockefeller. mildly ee-
waiting his eyebrows and smiling with inefable
sweetness: am a member Of that Trust
DISCLOSING HOW rHr TRUST WAS roRNED.
He said that the trust was formed In January,
1882, under an agreement of about fifty oil re-
fners in different parts Of the country. These
companies had surrendered their stock to a board
Of trustees and received in return a certificate
representine their proportionate value The
present capital stock OF the trust was ,OOOO OoO
1t had been increased to that from $4,000, 600.
Were these certificates not in excess OF t5e
real value Of the stock, or In other words could
not the trustees issue certificates representing
100000 upon receipt OF stock representing
Sl50,OOO?'' was next asked.
No sir" was the reply in tones mildly resent
full
Then there was no water with the oil ?'
"None whateVer, SIR
Mr. Rockefeller said the trustees Of the Trust
were II Payne Of Cl9yIslalnd TIcln W. G. MerssE
John B. Archbold, Charles Pratt, William Rookie
feller, Benjamin Brewster and John ID. Rocke-
feller,, Of New-York The total product of the
oil refining interests of the country last year had
been about $4,000 900 or $4,000, 600 barrels, OF
which the Standard Oil Trust produced about IS
per cent Its capacity was equal to the total
product Of last year.
PRoDUcING THE DEED OF TRUST
He was asked if he would show the committee
O COPY of the deed under which the Trust waS
formed. This was the first question that gave
him pause.o He rested his head on his right
hand and gave himself up to reflection for \
minute, and then answered L will" There
upon Mr.. DOdd took from his overcoat pocket !
severely legal looking document and passed u up
to the great oil magnate Mr.. Choate at the same
time dropped his air OF lasstude, rose TO his
feet and asked the committee not to make tho
contents public, it might prejudice private IN
terests Senator Arnold said that the commltte9
would consider that in executive session, ana Y
the opinion were that public interests would DO
served by its publication, IL would be punished.
Mr.. Choate resigned himself to the s,tua'lGn. on.
pose conditions. Then while more members ot
the committee looked over the agreement, O9i0hei
Bliss led the witness into a thOrny maze or sta
tistics, but he passed through them without q
hitch. He produced statement bristlihg Win
figures. iii, a.. H. ,,o,,t
facture II refined oil had increased from ahouo
1000. 900 barrels in 1861 TO over 2!OOO,o00
barrels IN ss7, the highest being IN $50, wnen
the quantity produced was over 100000 bar
rels of fort y-tyO gallons each. The cost OF Inc
crude oil at the wen per barrel IN 1881 was .
course include the barrel. The cost OF the re-
fined oil per gallon in s6l on board ship an.
Gliding the barrel for export was % cents pc
gallon and in 1897 72-1o0 GEMS per gallon.
The witness said of the last figures that about
cents represented the cost of the OIL ana , tls
rest the cost Of the case ae ysIe Ta Ta n s Sas
stated to be Ss95,00O,OO0 ,..
Henry c. Boger, who had compiled The table,,
was put on the stand for moment TO swear ~ ~
their correctness that they might be put IN evl..
dence wholesale and save time linen Mr. ROCKS. h9nis
feIler returned TO the witness chair Coi0he. Dlss
asked him TO state 10 the committee the substanc,
of the agreement and the witness made no OBJ
lection but General Pryor said that as the com,
yynittee had copy of the agreement il would be-
best TO get the information from that source
This precipitatcd the question whether u Shou!q
be made public or not Mr. Choate and Mr.. Dodd
nut their heads together for a few minutes. Thd
npshot of their consultation was an anticipation
OF the inevitable by withdrawal OF all oblectona
TO the publication OF the agreement
TREMoR OF EXPECTANCY
tremor OF peasurble expectancy ran around
the courtroom when Colonel Bliss began To read
the document, which told how the famous trust
got its first start in life But expressions Of
interest soon vanished on all faces except those
of the lawyers. AS reading matter the document
was Enthusiastically dull. 1t was double armor.
NTH louol apd pbroe.o IA