South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1889-07-19

4
company was now the largest shipper OF
OH, preferential ra'es secured By In would
apply 70 no other rs6aery, hence TIE iodiv.
nsncn aud oa;cry Of its competitors who
cav IN The sncccss OF its scheme ,bair own
hndoi,g The Legislature of Pennsviv<nia
i quickly repealed the chatter OF the Southern
Improvement Compsny. aud 90 busin-ss vts
done under its contract vith tbs railroad
company Moreover, on March IS 1874 a
so.tEn convention | writing was catered
into by eii parties. the railroad companies
the rrodacess AID the re6usrs. whereby IA
! was covensnied that ali arrangements there
a'ser Tor singing oil should be on a b,sis
OF perfect equality to all shippers and no
Discrimination OF any kind whatsoever be
allowed itwilibe seen that the stand 4 I'd
mansgers had learned The fAvori,e dsvic. Of
theraiirosd manager that Of tue Subsidiary
( eCrppratiou and had resorted 10 IL In a
daring and m,s'eriy movement. which
however. bad been quickly detected ana
ioiied The re1dar will naturally be cvri
/ Gus 10 know on what gronnd, or from What
motives The rsiiroaf cc-uo,nies c,1ti avree
F. q uake a contract Of the character have
oescrieed with single shipper. but I nust
+ reserve my siaten,ent OF the reasons alleged
. by tue parties 10 this and ike agreements TO
'e Later riAgs il mr. articles.
The PeunsJ lvlnis refiaers had scored a
/ great victory, as they believed They had
rot only stamped ont the Sou ihern Inc 70 yss
msr' Company before il could begin bust.
ness, bat they had secured the compact of
( March IS, which forbade special fayors 10
nnyoue thereafter With a free Geld ana O.
] qnal treatment from the carriers they had
I no fears of the future
! The re6nipg business 30 lo-ger had the
extraordinary profits that were possible in
I its in .sncy, but there WAS every promise of
good and stable profits for the indefaite II.
inre. Bo.h production aud consumption
were rapidly increasing, and thsr. was a,
yet no competition from foreign producer,
in foreign markets.
sH.'RT-LIvED DREAM.
But their arosm OF prosper ty via
short. Wi h eDisrging markets for
toe prodnci. tie refining business
showed steadily dwindiac profits tn
he course OF n few yesrs vanishing
pr.dts ami growing los-ss. They
were az n less - know What was hur, .
ing them. 10 vain .hey subjsute5
tlieii ledgers to The u.ost minute sen
tiny, stepped evo;y vas;e and grasp.
ed ~ every economy.
Day ~ day the fact became more
assured atthey were on the road To
bankruptcy. and while thoy might
slacken speed by strenuous work a.
tue brakes, they coull not reverse
/ their direction.
On of the afLy-two rcfners then
! operating in : es.etn PennsI lgaui a
gave 10 ,he House ,mmittee a graph
io GcaoGat III his sIrus les against the
incVi.sble and bis filai sweep inso
bankruptcy. Iio owned proa porous
EFF 1ery, with capital OF SSO0,O00.
a modern plan, with every device
FOR economical production ond for
working an the by.produc's. He had
! cheap barrels, cheap coil cheap la
Dor and Short hauls. He vas master
OF the business. Ye. matters passed
from bha 10 worse. He knew SONG
thing was wrong. ils began to sus
pect the .ailIoad companies. With
delegation after delegation lie visited
Phi lsdeiphia and imploreh the Peano
/ eylvauia Railroad authorities for fnir
treatment aud living rates. Their az
swer was always eynsive. Fiualiy the
continued pro 'peri,y of the Standard
Oil Company csught his attention.
Is business increased so fast that lie
became satisfied he bad recognized in
it the element OF danger. As a last
! desperate resort he went to see the
president Of the Standard Oil com
pany 20 learn il lie could make apy
arrange ment with him whereby 10
/ save his works. The answer WA
b ief and decisive: "There is no hope
io5 any of US, but tho weakest mus,
go first" And thus he sonk iuto
bankruptcy. and the lease Of his works
passed into the STANDARD.
But amid the general wreck Of Tie
| Pennsylvania refiners there sgGs hone
/ for the standard. j, moved steadi4
/ Iy. swiftly, realistically forward over
their ruins. II becams purcba9er or
lessee Of tue best works end acquired
refueTies in Philadelphia and New
York. Quite a number Of the prop
critics 1T acquired were closed no aud
| dismantled Others that were gaspipe
in dissolution needed but its owner
ship TO spring mp into unwonted viz &,
or a Philadelphia reflcr, with good
position and Command OF capital, kept
he head above water until 1876. He
then sueeuhbed, bui managed for ex.
Ceptionai reasons doubtless, ~ sell
his refinery Cor coz viz. $3.50 600 20
ITO ageuts or tho Standard.
According TO vfry common Drac-
ice wi'h them. they rsn - IN TBS
name tf The alleged Turotc c-e rndeF
tho Sane madeg Gs beitre. ~
aiming the former Ownsr and mana
ae. ., salery wLich Wa III 9cta.w,.
edgmert OF ais captcily. F5z sa,.
w" voars before he sold q he had
win difficulty made IL pay him $40 =
600 Fos tue fret year OF bis nun.
n.ng % under Che ownership Of the
StsDdsrd there being 10 charge ex.
cepi in Che nsms Of its owners. iis
profits were from 100000 to sIS5.
ODo. in other words, they paid for
the rehnry b. one ycat's operations
aud hsi money 70 spars.
THE TOUCu O. MIDAS.
Undoubtedly they had ,hc touch Of
y az. anl turned into gnli every bu.
siucss thst passed under thoir oSner.
sb'p In fyo or six years tune they
bad resched almost absolute control Of
toe refining business OF the cou,trr