Daily capital journal. (Salem, Oregon) 1903-1919, 1903-12-15
ROBBERY
YCLEPT
DIVIDENDS
STANDARD Oil Declares
a Twelve Percent
Dividend
Where Does Percentage Cease
and Grand Larceny Com
mence ? Rockefeller
Ought TO Know

: New York, Dec. 15.-Those persons
/ fortunate enough to own Standard
/ Oil Stock received a handsome Christ.
mas present today in the shape Of
checks for their share OF the $4,000.
I J00 representing the fourth and last
quarterly dividend OF tho year The
I dividend disbursed today amounts to
S12 a share. which is an increase Of
81 over the dividend declared at this
/ time last year. This brings the total
dividends for the year TO a. per cent.
or S44,OOO000 in dividends for the full
year
There is 20 regular rate Of dividend
paid on Standard Oil Stock. The dis
tribution is made out Of the earn
ings Of the quarter When the di.
/ Irectors meet slips OF paper are pre-
sentcd showing the profits up to date
for the quarter. and the dirOctors
thereupon decide what amount shall
be distributed in dividends to the
stockholders In the fall and winter
months, when the use OF oil and kind.
red products is larger. the dividends
are ,propCrtionatcly larger.
John ID. Rockefeller Is credited
with owning 33 per cent OF the stock
OF the Standard oil Company. and his
receipts from the earnings of the cor
pOration during tho current year ap-
pear 10 be approximately $4,000 600.
The four quarterly dividends of the
corporation this year are as follows:
March 20 per cent June Z per cent;
September 8 per cent; November. 12
per cent. In the first quarter Of 1902.
20 per cent, was declared: second
quarter, 40 per cent. third quarter
5 per cent, and last quarter 10 per
cent. The increase in the dividend
during the current quarter Is due to
larger earnings, resulting from a sharp
advance in the price OF OIL According
10 an official of the Standard Oil. the
corporation carries a surplus, giving
the benefit Of all earnings 10 the
stockholders.
The Standard OIL Company is now
disbursing more money TO stockhold-
ers than any other corporation in
the world. The United States Steel
Corporation held first place as a divi.
dend payer previous 10 the reduction
in the common dividend and the con
version Of preferred stock into bonds.
II now ranks second to the Standard
OIL company Since Jan. /, 1891, the
Standard Oil company has paid 10
stockholders more than $275. 900 600 In
dividends. or that amount John ID.
Rockefeller has received more than
S90000,0OO. Since 1891 the disburse
ments Of the corporation run close 10
S375O00.000, or nearly four times
greater than the SlOO,OO0.OOO capital
stock.
A fair idea Of the magnitude OF the
dividende Of tho Standard Oil com.
pany can be obtained from the fact
that the Pennsylvania Railroad com.
pany. within the last 81 years. has
paid something Ike 2l5e0O0.0O0 TO
stockholders. or 100000, 600 less than
the stockholders OF the Rockefeller
corporation has received in six years
In view OF the fact that oil has been
advancing on the strength OF reports
that production is falling of very
rapidly, the present increased dividend
of the Standard Oil company has
caused considerable interest in fnan.
cial circles. People in close touch
with the situation say that II is very
unlikely that Rockefeller interests
would agree 10 an increase in dis
bursements 10 stockholders II they be
lieved that an oil famine threat.
ened