The Caucasian. (Clinton, N.C.) 188?-1913, 1899-05-25

INDUSTRIAL lnvESYleAlSoal
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Rses.Sen ? Cossress Absolutely the
nsssgemees .f aaiss-
WASHINGTON. May l6-Asforuey
General F,.bk 8. Mon~tt, Of OHIO,
was before the Industrial Commits
SION to day as witness in the trust
investigation. HIS ts s,imonv related
almost exclusiveiy to the STANDARD
Ol Trust, against which he hiss been
proceeding IN his on cial capacity u
Ohio.
After detailing the particu lars of
the suits against the Standard Com
psny. brought on behalf Of the State
Of Ohio, Mr.. Monett said the COM
panies comprising the trust we're So
distributed as to control all the cor
poratiOns pertaining to the produc-
ton, transportation, refining ano
delivery OF the products Of the oil
wells in Ohio. including even its own
telegraph system. Referring to this
telegraph lins, Mr. Monet said il
had been developed that It was ex-
changing business with the Western
Union Company, acting as q COM
non carrier AID making q cheaper
cate to the constituent members Of
the trast than to other customer,
tuactOns which were outside the
corporate authority Of the trust. H.
also complained Of the discrimina-
ZION in RAILROAD rates in favor of the
Standard Company tank lines. say
ing that it was tqlsi to 400 per cent.
against the ordinary citizen.
Mr.. Monstt gave the figures show
ing the capital stock of the twenty
companies comprising tho trust, a.
we'll IS their valuation, showing the
capitalization tn amount in the aggre-
gate to $l02 233 900. and tho valua-
ton $l2l ,63l 900. BE said the trust
could make its dividends whatever
It desired them to be, as it controlled
completely the retail price of oil,
! How ROCKEFELLER CONTROLS.
Mr.. Monett told Of the distribu-
! ZION OF the stock of the trust. Saying
hat the trustees held I66, $50 Of the
7OO. 600 shares, and that Mr.. JOIN
u. kocke. el!er, as chairman of the
trustees. held a majority of the stock
chus distributed, giving him the bal.
Ance of power.
"rnis gives him absolute individ,
lal CONTROL remarked Mr.. North,
~ which Mr.. Monet replied;
"Yes, il Is practically 4 one man
power. He with his henchmen has
general control, aud in some in.
stances he has absolute control in
himself. He can fix his own salary
"hich is, | understand, $50, 900 q
year as Chairman IF the BO.rd OF
Trustees, ana can do various other
hlngs."
He said the original value Of the
liant OF The trust was $97, $50 ,000
nut this figure should now De multi
piled by Ave, wn
Mr.. NJ ,nett insisted that the RENE
dy lay Ia controlling the transpor "a
uon companies, which, he thought
the courts could do, and if the courts
could not do this the charters of ths
roads should be taken from them
The Government had no more rlgh
10 permit dissemination or othel
abuses by the railroad Companies il
he interest of monopolies than i
mad to permit counterfeiting.
Tine Attorney General of New
Jersey could secure q regulation o
this discrimination within sixty day
if he would take 1t in hand' said tn,
witness.
Speaking of tho earnings of tn
oil trust, Mr.. Monet estimated ,ha
the gross receipts were $l20 900 ,0O
d year on the 0hio product aiohe
and he said that all was profit over
cents a gallon on refined oil. H
placed the value or the earnings o
the company per year as Create
than the value of all the farm prod
ucts of the State.
Il SPIES ARE EVERYWHERE.
2 At the afternoon session of th
t Com mission, Mr.. Monet said in n
sponse to question from Comm.
, sloner Kennedy that no could testlf
to the tact that the company had s,
cured the services of railroad agen,
all over the country to report upo
4, the movements of their rivals and b
knew of one instance in which th
= clerk of q rival concern had bee
employed to supply the details of b
employers operations to the Stant
ard OIL Company. Also the compan
= had its "buzzards" everywher
These were appointed to follow th
wagons OF rivals and secure dat
upon which the company could Of
Q crate when rivals were driven out ,
Q q field by reducing rates the prize
II Immediately went up.
II Mr.. Monet said he understoc
that the Standard Company conrrci
g cd from 80 to 81 per cent. Of tt
# crude oil product, but that as Il
e company controlled the means
j. transportation il was not necessal
that IL should take the oil out Of tt
y rock. the company was thus ind
o pendent of we'll owners. He did n
l. agree With the statement that Il
, Standard Company Was entitled
credit for the red uction of the prlc
= Ut OIL, believing this reduction to
due entirely to Utoer agencies.
Referring to the necessary Of col
trolling the transportation sgenci
as the avallaoie remedy fol the evl
Ut which he complained. Mr.. Mo
cit said that no course could be t
severe If nothing less wou d prod q,
the desired result. The safes b,
he remedy OF depriving the rsilro.
- companies of their CHARTERS, and tn
should De resor ed to If they fail,
to treat all equally fairly
In CONCLUSION Mr.. Monett said b
:, suits had been begun in the o i,
) / IN