Watauga Democrat. [volume] (Boone, Watauga County, N.C.) 1888-current, 1907-10-03
WASHINGTON LETTER.
From Oar Regular COrrespo d, Mt.

| S'''i e'hu otllcI representatives O.
Wall Street are hurling anathe.
mas at the President and his
methods of trust busting be.
cause of the administrations re.
lentless prosecution of the Stan.
dard Oil Company, the legal tri.
al in New York serves to reyea
the astounding appropriation O.
the peoples money by the illegal
processes OF that corporation.
! With a capital stock amounting
to $97, 7,000,00o profits h a v e
been made in the past twenty
five years amounting to $780,
600, 900. In other words, TO T
every $97 paid tor capital stock,
$500 profits has been taken out
of the value OF the assets h a S
gr"atly increased. John D. Rock
efeher, the father of Standard
Oil, owns one fourth of the capi-
tai stock of the Standard Oil Co.
his holding being valued at $109.
100000, which gives him an in.
come of $21.25 for every minute
i'll the twenty-four hours.
The record OF the Standard, as
ruthlessly dragged to the light
of public scrutiny by the govern.
ment's attorneys, shows a career
of crime and bribery probably
never before equalled. Dissolved
by the courts of Ohio, the trust
continued to pursue it's way Who'll
ly unconcerned over the mandate
O. the law, and the management,
Athods and officers, maintain
Efthe same control OF the sup.
ply, OF the means Of transporta,
ton and the price OF oil for sev-
en- years ending with 1899.
When the Supreme Court OF
Texas debarred the Standard,
under the name of the Waters
Pierce Oil Company, from further
operations in that State, it i'm
mediately seized upon the mar
ket with a new company, the Cor
sicans Refining Company, as
much a creature of the trust as
was the Waters-Pierce concern.
The outlaws of former times were
petty thieves compared with this
great octipus which fixed it's ten
taclcs upon the consuming pub
lie and with fragrant disregard
of law and even the specific man
dates of the courts proceeded to
exact its tribute from the people.
And now that o prosecution has
been instituted and that there is
some prospect that the great
corporation may be made to dis
gorge some small portion OF its
ill-gotten gains, a hue and cry
goes up from the self-righteous
holders OF stocks and bonds a.
cainst the ''unwarranlable in
terferance with business enter
prise and financial stability. "
And when the President, in anot
remote speech, declared t h a t
some remedy for the "swollen for
tunes" which constitute 80 men-
ace to American institutions and
to commercial freedom must be
found. the cry went up from the
same source that he was preach
ing anarchy. President Roose-
yelt has his faults like othermep,
and his administration hasfailen
far short of the perfection which
he doubtless desirel for it, but
there seems to be little prospect
that he will be condemned by
the American people for his pros
ecution ofthe Standard Oil. That
any individual, by the exercise
OF proper business enterprise OF
the most efficient personal SER
vice can have earned a fortune o1
$1O9,0 900, 900 in an ordinary lie
time i'd beyond the credability Of
every intelligent American citi-
zen, while all the evidence pro
duced in court goes to show that
only through violation OF t h e
law whenever it suited the con