Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1899-05-17

WASHINGTON, May 11.-Attorney Cen
eral Frank S. Monnett of Ohio was be-
/ fore the industrial commission as wit
ness i'll the trust investigation. His
testimony related almost concluslyely to
the Standard Oil rust, against which
he had been proceeding i'll his official
capacity i'll Ohio. After detailing the
particulars of the suits against the
Standard company, brought on behalf
of the state of Ohio, Mr.. Monnett said
the companies comprising the trust
were SO distributed as to control all the
the operations pertaining TO the produc-
non, transportation. refining and de
livery of the products of the oil wells
i'll Ohio. including even its own tele-
graph system.
Referring to this telegraph line, Nh
Munnett said it had been developed 50
that it was exchanging business with
the Western Union company, acting as
a common carrier and making a cheaper
rate to the constituent members of the
trust than to other customers, functions
which We're outside the corporate auth
oritv of the trust. He also complained
thar the discrimination i'll railroad rates
lines, saving that it was equal to 400
per cent against the ordinary citizen.
Mr.. Monuett gave figures showing
that the capitalization of the 20 COM
panieS comprising the trust amounted
i'll the aggregate to Sl02, 233 900 and
the valuation Sl2l,63l 900. He said
the trust could make its dividends
whatever 1t desired. as it controlled
completelv-t the retail price OF oil.
Mr.. Monnett told Of the distribution
OF the stock OF the trust, saying that
the trustees held i66, $50 of the 10000
shares and that John D. Rockefeller, as
chairman of the trustees, held Il ma
jority of the stock thus distributed,
giving him the balance of power, max
ing practically one-man power. Mon
nett said the original value OF the plant
of the trust was $91 $50, 900, but this
figure should now be multiplied by five.
Mr.. Monnett insisted that the way 10
control the trust was TO control the
transportation companies, which he
thought the courts could do, and if the
courts could not do this the charters of
the roads should he taken from them.
''The attorney general of New Jersey
could secure a regulation of this dis
elimination within 90 days if he would
take il in hand said the witness.
Speaking of the earnings of the oil
trust Monnett estimated that the gross
receipts We're SI20. 100000 on the Ohio
product alone, and he said that all was
profit over cents Il gallon on refined
oil. He placed the value of the COM
pany per Year as greater than the value
of all the farm products Ill the state.
At the afternoon session of the COM
mission Mr.. Monnett said in response
to Il question from Commissioner Ken
nedv that he lid not wish to enter on Il
discussion of the charge that the Stand
ard Oil company had been guilty of at
tenptS at bribery TO prevent Judicial i'll
vestigttiun, us that matter was ut pres
ent under investigation by the Ohio Su-
preme court These proceedings would
doubtless bring out all the facts and
later be would supply the data to the
commission. He could. however. testi-
fy TO the fact that the company had Sc
cured the service of railroad agents all /
over the country TO report on the move /
meut> of rhcir rivals, and he knew of /
one instance i'll which the clerk of Il
rival concern had been employed to sup
ply the details of his company's oper-
ationS Ia the standard company. The |
company had its ''buZZards' every :
where. They We're appointed to follow
the wagons of rivals and secure data .
upon which the company could operate. /
When rivals were driven out of /, field /
by reducing rates the prices immedi- |
ately Went up.
MIR. Monnett said he understood the
Standard company controlled from 80
to % per cent of the crude oil product,
but us the company controlled the
means of transportation 1t was neceS-
slrv that it would take the oil out of
the rock. The company was thus indie
pendent of well owners. He did not
agree with the statement that the
Standard company was entitled to credit
for the reduction of the prices of oil,
believing this reduction 10 be due en-
tirely to other agencies.
Referring to the necessity of controll-
ing the transportation agencies, as the
available remedy for the evils of which
he complained Mr.. Monnett said that
no course could be too severe, if moth
ing less would produce the desired re-
suit
The states had the remedy of depriv-
ing the railroad companies of their char
rerS and this should be resorted to if
they failed to treat all equallysfair In
Mr.. Monnett said that suits
had been begun i'll the Ohio courts
against the brewers. the tobacco and
tinplate trusts and also against the Cen
trat Traffic association.
There will be no more witnesses be-
fore the commission until next Friday