West Virginia daily oil review. [volume] (Sistersville, W. Va.) 1894-1902, 1902-02-11
STANDARD OIL FACTS.
The Trusts Actual capitalization De-
clared TO BE Over $500, 100000

The Trusts Actual capitalization De
clared to BE Over S2OO,OOO.OOO
In your editorial In yesterdays
issue you state "the Standard OIL
monpoly's capitalization to be
$1oo. 900. ooo," and that 1t "does
not represent actual money invest
ed by anybody;it Is fat money only,
created out of nothing, voted into
existence by the directors.
You might have made the state
ment stronger and put the.capital
ization at $500, 900, and 1t
would have been true. The Stand
ard Oil trust was organized In Jan
uary, 1882, and there were issued
700, 900 shares of trust certificates
for $4,000 corporate shares of the
Standard Oil Company of Ohio, or
twenty shares of trust certificates
for one corporate share. Instead
of there being one Standard OH
Company, there are FIVE of them In
the Standard Oh Trust, with an
aggregate capitalization sof $I22,-
500, 900, which at the average mar
ket price. 1901, of 1868 per share,
shows an investment value of
S334,675,ooo. They are organized
In Eve states-New York, New
Jersy, Ohio, Indiana and Kentucky.
John D. Rockefeller, president
OF the Standard Oil Trust, In 1898
swore that there were only twenty
corporations In the trust, with an
aggregate capitalization of $Io2,-
233,7oo. Seven of these pipe line
corporations, comprising more than
half (52,455, 2oo) and at the equiva-
lent average market price of $763
per share they equal an investment
value In pipe lines of $4oo,233I76.
There are eight manufacturing and
selling companies. capitalized at
$33 900. 900, and at 1868 per share
this Is equivalent to an investment
value of l$251,79o,ooo. There are
three producing companies apital-
lied at $40, 900. 900, and at $763
per share they show an investment
value of SO, 800, 600 The North
western Ohio Natural Gas com
pany, capitalized at s. ASSOC, at
1858 per share shows an invest
ment value of S25,oI4.o55. The
Union Tank Line company, cap
italized at s., 500. 900, at S763 per
share Is equivalent ito an invest.
ment value of $26,7o5,ooo.
On June ID, 1889. one of these
FIVE Standard Oil companies be-
longing to the Standard Oil Trust
the New Jersey Standard Oil
company-increased It's capitaliza-
ton from $Io,ooo,ooo to $IIo,ooo.-
900, which increased the capitalize
ton of the Standard OIL Trust
by 100000, ooo-I, 100000 more
shares, par value $1oo-making
the Trusts present capitalization
not less than $2o2,233.7oo, and at
the average market price of 1868
per share this IS equivalent to an
investment value OF $f,543,o43,I3I.
1t follows that the 20 per cent divi-
dend just declared amounted to
$40, ooo.ooo instead OF $4,000, 900,
as stated Ia all the newspapers.
The average market price of the
shares of the United States Steel
Trust for 1901 was $68oo per
share, one. eleventh that of the
Standard Oil Trust, and on Its full
authorized issue of $I,1oo, ooo, 900
the Steel combine aggregates an
investment value sof $7o7.eoo,ooo
less than that of the Standard
Oil Trust. The public has been
badly deceived and indirectly given
to understand that the total capital.
ization of the Standard Oil Trust
was to be tranferred into the New
jersey Standard Oil Company,
which has been singled out from
the coterie of FIVE Standard OH
rom0anieS t0 0mn1ete thiS unlaw.