The Lee County journal. (Leesburg, Ga.) 1904-19??, 1907-09-27
PEOPLE ARE HARD HIT.
More Light Thrown on Mighty Bonanza
Held by Oil Trust-Yearly Profits
1000 Per Cent.

More light was shed on the re-
markable earning capacity of the va
rious subsidiary companies of the
Standard Oil company at the hearing
in New York Wednesday, when Frank
B. Kellogg, who is conducting the fed
eral suit, succeeded in placing upon
the records the profits of seventeen of
the principal subsidiary companies in
the years 1903 and 1908. The state
ment of the earnings Of the Standard
Oil company Of Indiana, which was
recently fined $29,2OO,OOO by Judge
Lands of Chicago for rebating, dis
closed that in 1906 the company earn
ed no less than $1O,516O82, on cap
italization of $1,OOO,OOO, or over 1900
per cent The Indiana company In
1906 earned more than any subsidiary
company of the big combine.
In 1903 the Indiana companys prof
it's were. $8,853,410, SO that in two
years the mother trust received from
the Indiana company more than $751;
100000 in profits.
The Standard Oil company of New
| Jersey owns $500 shares Of the In
diana company's stock The Indiana
company is capitalized for $1,000,000.
The dividends paid by the Standard
Oil company of Indiana last year aggre-
gated $4,485,5O0, or a little more than
S6,000,OOO less than the profits.
Mr.. Kellogg developed during the
day, while Clarence G. Fay, assistant
comptroller of the Standard Oil COM
pany, was on the stand, a curious pro-
cess of the financial bookkeeping, or
handling of accounts, which Mr.. Fay
failed to explain. From figures sub
mitted it was shown that the Standard
Oil company of New York, in 1904,
made profit of $7,751,16O, and paid
in dividends to the Standard Oil COM
pany Of New Jersey the total sum OF
32,998.4SO.
The statement of dividends and prof
it's in 1906 Of seventeen of the sub
sidiary corporations Of the Standard
Oil company of New Jersey as pre-
sented in the federal proceedings now
in progress follows:
Atlantic Refining company capital
$5OOO,OOO; dividends, $2,249,955; prof
it's, $5,5O6,287
Buckeye Pipe Line company, CAPT
tai, S1OOOO,OOO; dividends, $5,799,798;
profits, $7O23,362.
Continental Oil company, 1903, CAPT
tai 100000; dividends $4O5,OOO; prof
it's, $575,O43.
Eureka Pipe Line company capital
s3OOO,OoO; dividends, $3,949,634; prof
it's, $2,433,1O4
Galena Signal company capital, $lo'
100000; dividends, $1,877 1900; profits
$2,8OS,O56.
Indiana Pipe Line company, capital
$1,000 900; dividends, $2,179,846; prof
its, $2,S14,588.
National Transit company, capital
$3.50, 45O2 200; dividends, $5,o9O,03O;
profits, $1,929767.
New York Transit company, capital
Is .OOO,O 900; dividends, $2,O99,958; prof
it's, $2,848,282.
Northern Pipe Line company, capl
tai, $1,OOO,OOO; dividends, $2'OOO'OOo
profits, $1,591,614.
Solar Refining company, capital
100000; dividends, $449,4 6o; profits
$1,25S,519.
Southern Pipe Line company, CAPT
tai, s5,OOO,OOO; dividends, $4,595'93S ;
profits, $4,649,3O6.
Standard Oil company OF Iowa, cap
ital 100000; dividends, $S,9O4,8OSi
profits, $678,977.
Standard Oil company of Indiana
capital. $1,OOO,OO0; dividends, $4,425'
500; profits, $1O;516,O82.
Standard Oil company of Kentucky
canital 100000; dividends, 1894
400; profits, $1,8o7,75o.
Standard Oil company Of New York
canital s15,Q0O,OOO; dividends, &c.
5000; profits. $9,56o,31O.
Standard Oil company of OHIO, cap
ital S3,5OOOOo; dividends, $174,96o
profits, $1,OO9,526.
Vacuum Oil company, capital, 81,
100000; dividends, not given; profits
| 81, 449.575.