Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1904-11-18

to The Review for commenting
ON the condition of the Pure Oil
company, and the price at which
it's capital stock is quoted. In It's
ardor to champion the cause OF
the so-called independents, the
Pure Oil company, the Gazette
becomes rather biased. 1t would
insinuate that The Review is an
tagonistic to the Pure Oil COM
pany. Be it known that The Re
view at all times is friendly to
all struggling independent inter
ests and especially friendly to
the cause of the Pure Oil
company, but when it becomes ev-
ident that some of those connect
ed with the management are act
uated by self-interest in the con-
duct of it's affairs The Review
does not hesitate to publish such
facts as come to it from observa-
ton and through individuals who
are stockholders. The Review
has among it's patrons and sub
scribers a number Of stockholders
of the Pure Oil company and the
Gazette in it's egotism and ardor
should not consider that it can be
the only medium through which
criticism or comment may reach
the public. 1t is most lamenta-
BILE fact that confidence cannot be
inspired by adopting a policy OF
silence on the part of the manage
ment of the Pure Oil company.
The public through Indifference
sometimes lends the impression
that it has confidence in its lead
ers, but there always comes a time
when this same public assumes an
inquiring turn of mind, becomes
aroused from it's indifference and
lethargy and begins to ask imper-
tinent questions. From time to
time since it's organization the
stockholders of the Pure Oil COM
pany have been told of the highly
successful condition of company
affairs, and they have always re-
ceived the information with GER
tain indifferent confidence that is
compliment to those in charge.
The failure to pay dividends has
been accepted with good grace.
But these same stockholders were
never well advised why such a
very large percentage of the prof
it's should 60 to the refining in
terests whose works are connect
ed with the pipe line system OF
Pure Oil company, and they were
never advised why, if the condi-
tons in foreign markets were
such as to enable these refiners to
dispose of their oil at enormous
profits. there might not be some
dividends actrlling to the other
stockholders. So far as confidence
in the officers elected by the stock
holders is concerned, it may be
said that much of this confidence
arises from an Indifferent spirit
in most eases. The methods pur-
sued by the officers and the lack
of dividends may be the cause for
much of the Indifference. Silence
may be golden, but when accom-
panied by a failure to pay divi-
dends it cannot be expected to in
spire great confidence. The knowl-
edge of the affairs Of the Pure Oil
company comes from one auto
cratic manager who gets up its
statements. reads them at the
meetings and presents them, too,
in the usual elaborate and intri-
cate form to a Board of Mama
gers who work faithfully to analy-
ize them. stick them in their peck
ct and 60 home and await the
next call. The one manager is an
autocrat. He is so secure in his
position that the president of
the company becomes a nonenity,
and the managers become num-
skulls. Questions asked by stock
holders are not considered. The
knowledge of the affairs of the
company may be so satisfactory
to the few refners and salaried
officials that they deem it unnec-
essary the smaller stakeholder
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