The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-02-09

ctpai company OF that name n me
country. announced a quarterly divl-
dend Of % per cent. which is equivalent
70 $50 900. 900 on It's capital stock Of $780,
OOo.OOOl
This Is the largest quarterly dividend
ever paid, and is a larger distribution
OF profits than any ever made In a
half-year. Last year the total distrl-
buttons were equal to 50 per cent on the
capital stock of the company. OF this
10 per cent was paid in December, 5 per
cent in September, u per cent in June
and per cent In March.
In 1888 30 per cent was paid, Of which
Is per cent was called extra divi-
dends." The totals IN 1897 were 50 per
cent, In 1895 81 per cent. and from 1891
to 1895. inclusive, only u per cent was
paid.
Six years ago the stock was selling
at S1s7 share. Yesterday S547 share
was paid for 1t. AS the capital stock
Is S1OO,OOO.OOO. this figure represents an
increase in market value within six
years Of SSsO.OoOOOO. AS Il Is supposed
that the Rockefellers own about half Of
the stock. some idea Of the increase in
their fortunes may be formed.
Great Jump in value.
The declaration Of the dividend yes
terday resulted in jump in the mar
ket value Of the stock of thirty-five
points. or S35,OOO.OOO. The stock opened
''on the curb" which Is the little group
Of brokers in the middle Of the street in
front Of the Mills building in Broad
street, at. $512; but there was not much
demand for it at that price, which was
the highest ever recorded,
When the dividend was announced
the brokers became frantic In their eff
forts to buy at any prics. The price
quickly rose. to 35Al and closed near
that figure. the last quotation being
s545 bid. with no stock offered for sale
at less than s54G.
At this rate OF distribution the an
nual dividend to stockholders would be
50 per cent, or SsO,OOO.OOO on the capital
OF S1OO.OOO.OOO, but it is not possible to
learn what policy the executive CONF
mlttee OF the Standard OIL Company
may adopt
When questioned on that point S. G.
T. Dodd. the solicitor for the company,
said that, while yesterdays meeting
was the regular one when the quarterly
dividend should be declared, 1t did not
follow necessarily that the same rate
would be maintained when It became
time to pay the next quarterly divi-
dend.
Largest on Record.
This distribution Of s2O,OOo.OOO is the
largest quarterly division of profits ever
made by any corporation in this coun-
try. and. OF course. became the topic Of
a discussion in financial circles.
The concern, as is well known, is the
successor OF the Standard Oil Trust
which was declared unlawful by the
courts. After that decision was handed
down trustees were appointed to lIqui-
date the affairs Of the "oil Trust" and
from time to time. until last year. the
trustees declared dividends to holders
Of certificates. These certificates had a
face value of little more than $ss, 1000 900.
Last year announcement was made
that the capital stock of the STANDARD
on Company Of New Jersey" would be
Increased from 10000, 900 to s1OOoOO,OOO
and that It's shares would be exchanged
dollar for dollar for the old certificates
This step was taken. 1t was an
nouneed. to enable the trustees to wind
up their AFFAIRS and be discharged. The
Standard OIL Company. Of New Jersey,
then became the principal company OF
that name, although there existed a
company of similar name In almost
every state Of the Union.
Out Of Ohio Company Only.
That fact led to the erroneous an
nouncement on last Wednesday that
John D. Rockefeller had retired from
the presidency OF the Standard OIL
Company. 1t was from the presidency
Of the Standard Oil Company of Ohio
that he retired, and that action took
place six months ago, when 1t was an
rounced that the business OF that com
pany would be wound up.
The Standard OIL Company controls
the petroleum business Of this country,
and practically Of the world through Its
contract with Nobel Brothers, of Rus
ala. According to that contract foreign
territory Is divided, Great Britain and
Germany being reserved as Standard
Oil field. The annual output in this
country is about l,7OO.OOO,OOO gallons. Of
which about 10000 gallons nre
used in this country. the remainder be-
ing exported.
Just what proht there Is in this
business Il is impossible 10 ascertain,
hut in last December the company ad-
vancsd its price on all grades of oil
about three cents a gallon. Such an
advance, had the cost OF the crude oil
remained unchanged. would have In
creased the revenue of the company
about S5OiOOO.OOO year. But at tho
same time there was an advance in the
price paid for crude oil by the stand
ard. which makes its profits from refn-
ing as well as producing.
A MODEL NEW WOMAN