The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-23
AN OIL TRUST CROESUS
$41,OOO,OOO IN FIVE MONTHS.
Now Richer than Any Potentate in the
WOrId-His Vast Interests-Traits
and characteristics.
New York Letter.

New York Letter.
When Mr.. Croesus was operating his good
I things a few years ago he became real
proud" as our friends from Africa would
say, because he had little more pelf than
his neighbors. He wore real diamonds and
did other things to impress the world with
the fact that he was the richest man in
town and was proud of it. He imagined
none who were to come after him would
near approach him in wealth. but poor de-
luded old fellow, how poorly he read the
future. John D. Rockefeller and the Stand
ara Oil crowd mad not then arrived nor had
their coming been heralded. When they
came he quickly saw what his finish would
soon be and retired with his gold and chat
tells. Since then there has been none to dis
pute the title with the men of OIL or the
oily men as more properly describes them.
From obscurity and second degree pow
erty out in the oil regions of Ohio and
Pennsylvania they have pushed to the fore
front WITHIN twenty-five years and have
greater wealth than the millions of the
Rothschilds, or any of the tabled princes of
India No one knows the full extent of
their holdings even in oil and the majority
of them have other wealth that reaches al
most as fabulous a sum- They have S97,-
100000 in oil, at least that is the capital
stock of the trust now in liquidation and is
the Certificates" quoted daily 1t probably
cost one-half that amount mainly in ac-
crued earnings of stock in small compa-
MES merged into the giant trust. The other
half is believed to be water and good will
Notwithstanding the great inroads made
upon the business by the Cudahys and 9TH
ers in Chicago and elsewhere Standard Oil
certificates are quoted at S315 and no sellers
making the holdings of the trust crowd
worth $305 $50 900. Since the present rise in
the quotations began five months ago an
increase of Is points has been made, and on
the quotations of Aug. I, 1896, it has jumped
lib points.
The enjoyable features of the Standard
Oil stock lie not alone in the increase in
value. It's dividends have kept the wolf
from the door these many years. Prior to
1893, when legislatures and congresses and
high courts were very costly apd several of
them had to be purchased to help along
business and provide a seat in the United
States Senate for Grandpa Paine out in
Ohio and when other bribery was more ex-
pensive than now the dividend was any
where from 10 TO % per cent. annually In
that year it was y per cent, the next two
years 16 per cert. each. Then extra dvi-
dends were added and 30 per cent. was dis
trbuted last year and thus far this year 20
per cent has been handed around. Thus. in
a little more than four years the stock has
almost paid it's full face value in dividends,
and before the year closes it will have gone
far beyond that amount.
THE BIG EIGHT"
How the company does this no one except
the big Eight knows, and they are not
telling anyone. They own about $4,000 600
of the capital stock When the trust was
declared Illegal they authorized themselves
to liquidate its affairs through private sales
and distribute the proceeds. For five years
this liquidation has been in progress and in
the meantime these eight men have had alb
solute control of the company. They are II.
NJ. Flagler, Benjamin Brewster, the two
Rockefelers-John and William-John d.
Archibald, II. S. Rogers, w. H. Tilford and
o. B. Jennings Whether or not the divi-
dends are profits or income from sales of
property held by the trust, shareholders do
not know and cannot ascertain. In what
shape the liquidation will leave the trust no
one is able to get an mixing. rumOr that
company with $4,000 Geo and also one with
5000, 000 coo capital would succeed to the pro-
prietorship have been foated and denied
In the meantime the stock market is bong
worked" for all it is worth Trust men are
said to be the benehclarleS. The Big Eli . -
have nothing to say, but unlike many NIo
make that declaration they say nothing.
While the trust is in liquidation its enor-
nous business IS carried ON in the old ag
gressive way, yet in secret. Thousands Of
men are employed and the daily expenses of
the concern are tremendous. Without the
more than $3.50, 600 a year paid IN salaries to
the big Eight" the other expenses run
CibSc ~ %0oblV a Neay ulliO4 say All " NiiC
concerns business is directed from New
York. In a short time it will be done in one
building That will be the Standard Oil
building now being erected in lower Broad
way. IT is TO be a sixteen story palace and
cost 81 250. 000 on land worth a like amount
Every foot of ii Will be occupied by the
trust and il Will be the largest building de-
voted to the office business of one concern
in the world. More than two thousand
clerks could be housed easily In 1t.
John ID. Rockefeller and the Standard
Oil crowd" is a conveniently indefinite
phrase made necessary here by the pecu-
larly secret methods of the concern 1t is
known that the eight men mentioned prac-
tically own il, as certain it is they control
ii. Who hold the SIT 900 OF capital stock