The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-08
INDUSTRIAL coMMIssIoN
Listens TO . Defender OF the standard
OIL Trust,

OIL trust
WASHINGTON, Sept. 7.-Mr. P. c,
Boyle confined his testimony before the
industrial commission concerning tho
coal oil industry to-day. He dWelt
largely with the subject OF speculation
in oil. covering 1t from the inception Of
the industry. He estimated that fully
800 100000 had been lost by the public
in oil speculation from 1870 to 1880. This
period of speculation was only discon-
tinued then because of the Joint Efforts
OF the Standard oil Company and the
Producers Protective Association. This
combination, he said, had resulted In
the elimination of the gambling feature
of the sale OF oil on the exchanges.
AS q consequence" he said, 1--WE
have now an oil market In which the
consumer fixes the price and with
which the speculRtor has nothing to
do"
Mr.. Boyle said the tendency to spec
ulation had had an injurious effect upon
the oil business. To this speculation
and to over-prOduction he attributed
the low price Of oils.
Mr.. Boyle also gave history Of the
various organizations connected with
the oil industry, including the Pure OIL
Company, in which President Phillips,
Of the committee. Is interested. Mr..
Boyle insisted upon calling this COM
mittee trust, and when questioned by
Mr.. Phillips aS to his reason for so do
ing said It was because the first pres-
tdent OF the company, Hr. David Klrke,
hnA biFnanf IN Analn1ufn6 n Ia Fa-
ferred to the company also as an ''oc-
topus," saying that II had made an at-
tempt to absorb nll the allied interests
In the Producers Association, and that
1t had achieved considerable success. In
this connection he read the original
prospectus OF the company, signed by
Mr.. Phillips, among others, as a truss
tee. In this prospectus the oil com.
pany was referred to Rs a trust. Mr..
Phillips took occasion to explain that
the company was only a trust for vot-
ing purposes.
Continuing, Mr.. Boyle characterized
the Pure OIL Company as a dog in the
manger. and said that It had been Of
no utility to the people Of the state
Referring to the condition Of labor IN
the oil producing business. Mr.. Boyle
said 1t was excellent, that drillers could
make an average Of $1,000 a year for
two hundred days work. He believed
that the Standard OIL Company looked
with favor upon the organization OF
labor, but such organizations were not
common in the of region.
In reply to questions, Mr.. Boyle said
that the Standard OIL Company had
paid money to secure the publication
Of articles in the press In reply to mis-
representations, but 30 far as he was
concerned he trented all with equal
fairness in his paper.
Replying to Mr.. Smith, Mr.. Boyle said
he considered that the Standard OIL
Company had been the source of great
benefit to the American people, because
Of its organizing capacity. He did not
consider the company In the nature Of
trust, the trust having been dissolved.
II was a case Of the survival Of the fit-
test. Any other organization with the
same nerve, cOurnge and ability might
have done Just what the Standard had
done by beginning when It did and as
II did.
Mr.. Boyle was followed by B. A. Mat
thews. manager for the Standard COM
pany at Columbus, o. He came before
the commission to refute statements
made before the commission some
months ago by one W. H. Clarke, who
Newark, o.
Among these statements were aIlega.
tIons TINT the Standard company had
sold oils from the same tank ut differ
ent prices, and had mixed coal OIL and
turpentlne. These, with other charges
made by Clarke. were pronounced
false. He stated that Clarke had been
discharged from the employ OF the
company under n cloud. Mr.. Matthews
said It was the practice OF he'Standahd
company to cut prices to meet compe-
tItion, but only after other sellers had
inliIninh the rhhmclInn.