The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-08
DEFENDS STANDARD OIL
EDITOR BOYLE SAYS 1T HAS BENE-
FITTED THE AMERICAN PEOPLE.
He Assails the Pure Oil Company and
Calls Ii a Trust and Octopus
Tilt with President Phillips.

WASHINGTON, Sept. mr.. p. G. Boyle
continued his testimony concerning the
coal-oil industry before the Industrial Com
mission to-day. He dealt largely with the
subject of speculation in OIL covering IL
from the inception of the industry. He
estimated that fully s100,O00,0O0 has been
lost by the public in oil speculation from
1870 to 1890. This period of speculation was
only discontinued then because of the Joint
efforts of the Standard Oil Company and
the Producers Protective Associa ton. This
combination, he said, had resulted in the
elimination of the gambling feature of the
sale OF oil on the exchanges. LAS a conse-
quence," he said, 1--WE have now an oil
market in which the consumer fixes the
price and with which the speculator has
nothing to do" Mr.. Boyle said the tenden-
cy TO speculation has had an Injurious eff
feet upon the oil business. To this specu-
lation and TO overproduction he attributed
the low prices of oils.
Mr. Boyle also gave history of various
organizations connected with the oil indus
try, including the Pure Oil Company, in
which President Phillips, of the commits
slon is interested. Mr.. Boyle insisted on
Gazing this company trust, and when
questioned by Mr.. Phillips as to his reason
FOR so doing said it was because the first
president of the company David Kirke, had
himself so designated ii. He referred to the
company also as an octopus, saying that it
mad made an attempt to absorb all the al
lied interests in the Producers Association
and that 1t had achieved considerable sue
cess In this connection he read the original
prospectus of the company, signed by Mr..
Phillips among others, as a trustee In
this prospectus the oil company was re-
ferred to as trust. Mr.. Phillips took &C.
caSlon 10 explain that the company was
only trust for voting purposes. Contin-
Jung, Mr.. Boyle characterized the Pure Oil
Company as dog in the Manager and said
mat it mad been of no utility to the people
or the State.
Referring to the condition of labor In the
olI-producing business, Mr.. Boyle said it
was excellent; that drilers could make an
average of $1,000 year for two hundred
Oil Company looked with favor upon the
organization of labor, but such organiza-
tions We're not common in the oil regions.
In reply to questions, Mr.. Boyle said that
the standard company had paid money to
secure the publication Of articles in the
press In reply to misrepresentation, but
so Tar as he was concerned he treated all
with equal fairness in his paper.
=, Replying TO Mr.. Smythe. Mr.. Boyle said
ne considered that the Standard 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 a trust, the trust having
been dissolved 1t was a case of the sur
vlval of the fttest. Any other organiza-
ton, with the same nerve, courage and
ability, might have done just what the
Standard had done by beginning when 1t did
and it did.
Mr.. Boyle was followed by B. A. Mat
thews, manager Of the Standard company
at Columbus. 0. He came before the COM
mission to refute statements made before
the commission some months ago by one
w. II. Clarke, who had been agent for the
company at Newark, o. Among these state
nents were allegations that the Standard
company had sold oils from the same tank
at different prices and had mixed coal oil
and turpentine. These, with other charges
made by Clarke, were pronounced false.
He stated that Clarke had been discharged
from the employ of the company under a
cloud. Mr.. Matthews said it was the prac-
tice of the Standard company to cut prices
to meet competition, but only after other
sellers had initiated the reduction.