The Providence news. (Providence [R.I.]) 1891-1906, 1897-08-21

| or II per cent per year. In the Garlic.
years the profits were not so large. 6u:
! they were substantial. IL ~ any won.
der under the circumstances John T.
! Rockefeller Is the richest man in n,
United states? lie once said before
| legislative investigation committee thas
| ne aid not know how rich he was b.
several millions. No other man eve,
made money so fast. Although mucr
Oh his money is derived from the OIL
business, his outside interests bring him
several millions year.
IL Is difficult matter to estimate In
dollars and cents the sum total OF Mr.
Rockefeller's philanthropy during Tho
past,2O years. His gifts to the Chicago
university have amounted to over SS
100000 the first of them being made in
June. 1890. in the sum of 5000. 600. II was
Followed by $l,000.000 i'm September of
the same year and in the February fol-
lowing he gave another 81. 900 600 The
irst Sift was for the endowment of the
college work, the second for the work NJ
nonprofessional graduate instruction
and the third for general purposes of in
stiuction. In December 1892 ha ,,ava
Hl'ooOoOo more, and I'm May 1892 he
promised Sl50,000 so that gift of slO0
400 made by Martin A. Ryerson on con-
dition that $780, 900 more be raised
should come into the college -treasurv
In November, 1899. Mr. Rockefeller gave
N"OoOoO. with the proviso that not more
'ldn sl'1'Ooo he used for running ex-
pcnses' the rest To be used for the gen
''al purposes OF the university In Jam
uary 1894. he made "A contribution ~
100000 for the purchase of books. ana I'm
January, 1895. he gave $175, 900 as a New
Years present I'm the fan of 1885, h.,
gave the institution $4,000 900 i'm a lump
sum.
IL has always been a favorite method
with Mr. Rockefeller i'm making contri-
buttons To colleges and school and
chIr"h organizations to give a sum CON
ultlonal upon the recipient raising n
stipulated amount to which il might be
added. Until he had embarked upon tho
chicago university enterprise his theory
had always been. i'm dealing with educa-
uonal institutions and even with
churches. that il was well to nut small
sums into the charge of institutions
needing aid and encourage them 10 helm
themselves rather than to carry them
on.
His gifts have been mainly 10 Ran
ust organizations. He has been inter
ested IN the religious education OF ne
sroes IN the south and gave the build
ing for the Spellman institute-nan,ed
Tor ms WHEAT Selma. Ala. which is
under Baptist control. He built tho
Rockefeller Hall at Rochester. and his
gifts 10 that university have amounted
10 more. than 100000. Substantial gifts
he mas also made to the Cook academy
at havana. y. Y; the Peddie insti-
tute at Hightstown. n. j.. and Vassar
colieSe' the latter receiving 800 900
ohe OF the Few friends OF Mr. Rookie
lelier VINO are in position To talk in
telligently on the subject said RECENTLY
that in all about 500 600 900 had been
given away by the millionaire during
the past Is or 20 years
Mr.. Rockefeller is an iron king as
well as an oil Crusus. He practically
owns all the Lake Superior iron mines
as well as the principal iron mines OF
Cuba. This places him in the same
position toward the iron producing
business as he has long held in regard
TO oil
TO Gain control OF all these iron
mines has cost him something like
SlO,OQO,O 600, but the greatest oil magnate
is a man Of gigantic enterprises and
does not balk at scheme involving a
mere million or two.
AZ
years ago. when the iron mine owners
were cramped for money Mr. Rookie
feller seized the opportunity To buy
everything in sight He accumulated
all the stocks and bonds of southern
mines that he could get hold Of When
the shares of the Minnesota Iron COM
pany were placed on the market, he
bought them in large quantities
enough. in fact. TO control it, This
company owns the great-mines at Tow
er and Ely. Mimi; the Duluth and Iron
Range railroad. the big docks at Two
Harbors and large areas of dock and
railroad property at Duluth. 1t prac-
tically held a monopoly of the iron
trade of the north
Mr.. Rockefeller also has control OF
the Mesaba mines i'm northern Mime
sofa and is virtually enabled to dictate
the price Of iron The makers of bcs-
sCmcr steel have found that they must
have ore from either Lake Superior or
Cuba and that they have to pay just
what price Mr. Rockefeller chooses to
place upon IL.
AS constituted few years ago there
were seven Standard oil companies i'm
Corporated In the great OIL trust They
were in the states of New York. Penn
SNlNdild, NEW JtIStgs oulp, lIluldllds
Iowa and Kentucky. The trust certii-
Gates have never been dealt in on the
New York Stock Exchange because
application has never been made TO put
them on its list. The only public trans
actions in them have been at the auc-
tion sales of securities on the Real Es-
tate Exchange The last known sale
was at $50 a share.
The certificates have becn as high as
S325 which was before an increase in
them was made to take i'm new proper
Tics controlled by the trust
When everything is taken into con-
dcruton and all the interests arc fig
rrcd out and added up. the wealth "
John u. Rockefeller will bc found to
DC about as follows:
standard oil stock $50 900. 001
plouiur, Observation-Disclosures. 30 900 .0Ol
ltcal estate. 150O0.00D
Load t.rst " 100000