The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1907-04-18
STANDARD OIL BACKED BY
Government Funds.

Government Funds.
Secret of Mysterious Panic:
Standard Oil owes $7O,OOu,OOO
that it can't pay-public money
used to sustain wrecked gam
blers. Nearly $5OO,OOO.OO0 of
government money now being
used to further Standard Oils
gambling program, and policy
inaugurated of supplying
speculators every week with
government fuuds.
Thus read the startling head.
lines of q three-column article
in the Appeal to Reason for
April 6, which bears all the ear
marks of having been written
by a Lawson, or someone
equally as familiar with the
gigantic speculative operations
of the Wall street gang of
public looters, and with the
present national administra.
tion's methods of handling the
public's funds.
The article recounts how the
Standard Oil had a S7O,OOO,OOO
loan in London fall due last
month and how renewal of
the same was refused. The
money had to be raised in this
country. The leading banks,
however, of which the Standard
Oil owns many, were already
so overloaded with Standard
stocks and securities that they
could not furnish the money
on the securities offered with
out inviting positive ruin, even
though 100 per cent. interest
was offered. The Standard Oil
then poured it's stocks OH the
market for what they would
bring, causing a slump which
entailed a loss of over two bill.
lion dollars in listed securities.
But even this sacrifice was in
vain, because the public, which
for three years has been steer
ing clesr of Standard Oil stocks.
refused to buy even at the
sacrifice made, auch sales az
were recorded being made by
the Standard crowd itself for
appearance sake.
1t was then that President
Theodore Roosevelt, through
his man Cortelyou of the
treasury, came to the rescue of
the Standard Oil crowd by is
suing an order extending in
definitely the time for retire
ment of the special circulation
authorized last October per-
nitting banks the use of gov
ernment funds for specified
number of months on munich
pal and railroad bonds instead
of on go yernment bonds. He
also at this time authorized the
depositing of custom receipts
in national banks in cities
where custom houses were To-
Gated thus benefiting the
Standard Oil banks in New
York to the extent of millions.
These two measures would
result in making available $780,
O0O,OOO; but as the Standard Oil
crowd had to have S7O,OOO,OOO,
President Roosevelt, through
his man Cortelyou, further an
nounced that the government
would take up in advance
enough of its outstanding 4 per
cent. and coupon bonds falling
due July, 1907, to make up $25,:
100000. and pay the interest on
the same up to the date of
maturity.
These arrangements having
been made the cost was clear
for the Standard Oil to raise
the $7O,OOO,OOO for it's foreign
loan, and-there you are.
Owing to the presidents
custotn house order there will
hereafter be available for the
Standard Oil crowd between
four and five million dollars
every week which formerly
went into the United States
treasury direct. So manipulat-
ed that the common people
will never know when Razvelt
and his man Friday" Cartelue
dumps the peoples money into
pockets IF the Standard Oil
Company-is Roosevelt fight
ing the trusts?
Wahpeton Methodist Epis-
copal church, Rev. E. o. Ed
ridge, pastor; Prof. Charles
Kirk organist aud choir leader
Services Sunday at the usual
hours; 10 80 "a. m.8 p. m. Subjects
A. NJ, "Growing Old Beautiful
ly." +. NJ, Repentance"