The Bellefontaine Republican. [volume] (Bellefontaine, Logan County, Ohio) 1855-1905, 1899-05-23
THE STANDARD OIL TRUST.
All Over Four Cents q Gallon on
Refined Oil is Said to be Profit
The Company's Earnings
Greater in Value Than the
States Farm Products.


Washington, May 16.-Attorney Gen.
eral Frank S. Monnett, of Ohio, was
before the industrial commission to-day
as a witness in the trust investigation.
His testimony related almost exclu-
sively to the Standard Oil trust, against
which he has been proceeding in his
official capacity in Ohio.
After detailing the particulars of the
suit against the Standard Company
brought on behalf of the State of Ohio,
Mr.. Monnett said the companies COM
prising the trust were so distributed as
to control all the operations pertaining
to the production, transportation, re-
fining and delivery of the products of
the oil wells in Ohio, including even its
own telegraph system. Referring to
this telegraph line Mr.. Monnett said it
had been developed that it was exchang-
ing business with the Western Union
Company, acting as common carrier
and making a cheaper rate to the con-
stituent members of the trust than to
other customers, questions which were
outside the corporate authority OF the
trust. He also complained of the dis
Termination in railroad rates in favor of
the Standard company tank lines, say
ing that it was equal to 400 per cent
against the ordinary citizen.
Mr.. Monnett gave the figures show
ing that the capitalization Of the twenty
companies comprising the trust amount
ed in the aggregate to $lO2, 233, 600, and
the valuation s121, ,631, 900. He said the
trust could make its dividends whatever
lit desired, as it controlled completely
the retail price of oil.
Mr.. Monnett told of the distribution
of the stock of the trust, saying that the
trustees held 4S6, $50 of the 100000
shares, and that John d. Rockefeller,
as chairman of the trustees, held q
majority of the stock thus distributed,
giving him the balance of power, maxi
ing practically one-man power. Mr..
Monnett said the original value of the
plant of the trust was S79, $50, 900, but
this figure should now be multiplied by
five.
Mr.. Monnett insisted that the way to
control the trusts was to control the
transportation companies, which, he
Il thought the courts could do, and if the
!, courts could not do this the charters of
: the roads should be taken from them.
'sThe Attorney General Of New Jersey
could secure regulation Of this dis
Termination within sixty days, II he
would take it in hand" said the wit
:, ness.
Speaking of the earnings of the oil
trust, Mr.. Monnett estimated that the
gross receipts were s12O, 100000 a year
: on the Ohio product alone, and he said
that all was profit over four cents a
gallon on refined oil. He placed the
value of the earnings of the company
per year as greater than the value OF
# all the farm products of the State.
oil At the afternoon session Of the COM
o mission Mr.. Monnett said in response
v to question from Commissioner Ken.
|. lnedy that he did not wish to enter upon
e la discussion of the charge that the
n Standard Oil Company had been guilty
a of attempt at bribery to prevent judi
a cial investigation, as that matter was
i at present under investigation by the
e Ohio Supreme Court. These proceed.
;a,-, do,,b+lasc mould b,;pr ont all tho
% facts, and later he would supply the
o. data to the commission. He could,
>: however, testify to the fact that the
D, company had secured the services o.
n railroad agents all over the country tc
i, report upon the movements of theil
10 rivals, and he knew of one instance in
v which the clerk of rival concern had
$. been employed to supply the details o.
D. his employers operations to the Stand
re ard company. Also the company haG
N its "buzzards' everywhere. These
d were appointed to follow the wagons o
the rivals and secure data upon which
the company could operate. Wher
rivals were driven out of a field by re
N ducing rates, the prices Immediately
St went up.
ID Mr.. Monnett said he understood tina
es the Standard Oil Company controlled
~ from 80 to 81 per cent OF the crude OF
~ product, but as the company controlle'
~ the means of transportation it was no
e. necessary that it should take the OF
,e out of the rock. The company was thu
le independent of well owners. He di'
ir not agree with the statement that tn
,e Standard company was entitled to credi
rs for the reduction of the prices Of oil
believing this reduction to be due en-
10 tirely to other agencies.
n Referring to the necessity of control
al ling the transportation agencies as tn
ne available remedy for the evils of whicl
ne he complained, Mr.. Monnett said tina
oy no course could be too severe, if moth
ut ing less would produce the desired re
it suit. The state has the remedy of dc
es priving the railroad companies of thei
ed charters, and this should be resorte
on to if they failed to treat all equal
be fairly.
es In conclusion Mr.. Monnett said this
he suits had been begun in the Ohio court
DIV againstthe brewers, the tobacco, an