The evening times., 1899-09-07
BOYLE DEALS IN HISTORY.
Efforts to Get Testimony on Trusts
Not Very Successful.

Not Very Successful.
The Industrial Commission reconvened
this morning and resumed its hearing on
the subject of trusts. Patrick C. Boyle,
of Oil City, Pa. continued his testimony.
Prof jerks. the expert on trusts. asked
the witness If Mr.. Seep, the purchasing
agent of the Standard Oil Company, did
not fix prices of oil for the subagents In
the oil regions. The witness replied that
he could not answer that question, but he
thought about so per cent Of the crude oil
was purchased by Seep and the subagents.
The Pennsylvania and Ohio oil was under
his control. He posted prices. The fiuc-
tuations in oil are not large from day to
day-two cents or higher. Seep's figures
are controlled by the points of the REIN
cries. The point system on oil represents
cents The price of the crude oil is inva-
riably controlled by the price of the refined.
| In answer to a question, the witness said
the Standard Oil Company paid no atten-
| ton to the fluctuations of the refneres
| and local markets-New York, Pittsburg.
/ and other places The effect of combina-
tion on the American consumer of oil was
! lair anu JuSt-idlT anu luSl u dli COH-
| cerned, the witness said
The first oil exchange was established at
Titusyille in 1871, said the witness. There
! are about twenty exchanges in the country.
! The speculation in the futures of oil con-
tinues, and in New York the speculation is
| for year ahead. In the oil country one
branch of the business is for higher prices,
and another for law. The producers as well
| as the merchants in oil all speculate in il.
he To hn oh ha.
speculations from 1870 TO the early 90's
were at least 800 600, coo. The wild specu-
| lation in oil after this period was kille1
by the organization of the Protective AS
sociation. This was brought about by the
Producers Protective Association and the
Standard Oil Company. Since the regula-
tion of prices by the Independents and the
Standard Oil Company speculation cannot
control the price of oil. Prior to this con-
troll and in the early SOS the spectators
injured the market. They manipulated it
and elevated or distressed it by rumors
of the discovery of new wells and by other
means. They placed experts in the oil
fields, and corrected the figures of the
boomers. They employed what was known
as scouts who visited industrial pro-
ducers and learned their private prices.
and these producers were thus kept well
informed and were enabled to maintain
| Ile nlPnST uSuTeS pTeNdllluS among lu6lr
neighbors
The witness said he had been a scout
himself The refiners visited all localities
and purchased all the oil from the small
producers who could not hold it long
enough for profitable shipment. In former
days a vast amount of oil went into the
hands of the refners' agents. These agents
were migratory, going from place to place
This became thoroughly systematized
From 1875 to 1895 the trading was done by
the exchanges. Money was then made rap
idly through the fluctuations. The result
was however, that those who kept out O1
these exchanges made money; those who
stayed in became poorer.
Mr. Farquhar asked the witness If Rock
efeller and others had not agreed to shut
down on these exchanges as matter OF
regulation. The witness answered the
question by saying that the stronger the
combination became the more benefits hal
accrued to the consumer. Prices becams
cheaper. Overproduction and speculation
had been the cause Of the profits to the
producer. The consumption of oil is be;
coming large. 1t keeps pace with the pro-
duction. Refners suffered with the pro.
ducers.
But" interrupted Mr.. Farquhar, "ths
producer is the under dog in the fight. HI
must accept the price fixed by the Standard
Oil Company"
Mr. Livingston asked: why do not tht
producers refine their ewn oil, save thi!
amount, and get out of the clutches Of thu
Standard Oil Company
Il do not know" replied the witness
tThey have combined, but they could moi
stand together. The business of the pro.
ducer and the business of the dealer ars
entirely different
Mr. Livingston asked if one-third of the
producers organized, could they not be in.
dependent. The witness replied that the
producers lacked experience. talent and tht
peculiar means to undertake the refining
branch of the oil business.
Referring to testimony that there bat
been surplus of 10000, 900 barrels of OF
held for ten years. Mr.. Livingston asked il
this condition of affairs did not greatly re-
duce the price of oil to the consumer Ii
1865 the witness said, it had been re,
duced or 10 cents gallon. Refined oi
had declined in price during the last fifteeI
or twenty years.
Mr.. Livingston here interrupted with thu
question whether the stock Of the STANDARD
Oil Company had decreased, and the wit
ness replied that the larger the volum,
produced the more money was made b!
holding the oil.
The Commission at l o'clock took re-
cess for an hour. 1t was matter Of com
ment that Mr.. Boyle was a peculiar wit
ness. in that he evaded as much as possibl,
, the main object Of his testimony by deal
ing in history which he promised would b'
relevant to the trust question and materia
for the Commission. The prospects ar,
} that Mr.. Boyle will be on the stand fol
. | the remainder Of the day.
TO CURE LA GRIPPE IN TWO DAYS
, Take Laxative Bromo Quinine Tablets. All drug
| gists refund the money if it fails to cure. Z. "