Durango semi-weekly herald., 1907-08-05
HEAVY FINE FOR THE STANDARD
OIL COMPANY.

judicial history of the United States
will be assessed by Federal
Judge Kenesaw NJ. Lands against the
Standard Oil company before another
dav has passed. Tomorrow is the date
set for imposing the penalty, and at
torneys who have followed the case
closely and are acquainted with the
of Judge Landis believe
that the fine will be very nearly the
limit allowed by law. That there will
be an appeal is certain attorneys for
the coil trust having been allowed
sixty days after the final entry in the
rebate case in which to file exceptions.
This will give the lawyers until Oc-
tober in which to prepare their bill.
This stipulation was allowed by Judge
Iandis in order that John s. Miller,
leading council for the Standard, might
pass his vacation in Europe.
No matter whether the fine is large
or small, there is certain to be much
delay in its payment, If it is ever
paid. The Standard has always in
sisted on decision from the court of
last resort, and this may require many
years. In the meantime, there are
several other indictments against the
company for violations of the Elkins
law which were returned also last fall.
MS well as score of suits in the
federal districts. Some of these in
dictments in the northern Illinois dis
trict are nearly as voluminous and
important as the one on which to-
morow's fine will be based Practical
u the same kind of evidence figures in
all these cases, and hence it is likely
that, unless attorneys for the oil com
pany become more informing at the
future. John ID. Rockefeller and his
associates will have to make many
more trips to give evidence IN the near
future.
Opinion is divided as to whether the
Standard will be given the maximum
fine of s29, 100000. Many believe that
Judge Landis will deem it expedien'
to make the fine much smaller, bu
there are a large number of attorneys
and financiers, some of them intimate'
of the Judge, who are firmly of the
opinion the penalty assessed will no
fbe one cent less than that allowed by
the statutes. The only excuse judge
| NAV he called upon to offer in i'm
posing less than a maximum fine IL
| criminal cases like this is bona fid'
reason for clemency. In this cast
Judge Lands offered the Standard Ol
company full opportunity to prove tina
| the New Jersey concern had been
| law-abiding corporation. Such con
tention is not borne out by the rec
ords in the case, and 1t is upon thu
record that Judge Landis will reacl
| n decision as to the amount OF tn
fine.
| During the trial it was fully showi
| that the Standard Oil company OF In
diana is but one branch of grea
corporation, with annual earnings o
from $50, 100000 to $S0,000000. Thu
the maximum fine of over $29 9,OOO,OOu
| possible under the conviction OF th'
company on LACE counts of the in
dictment, represents probably les
than one-half of its total earnings 70
one year. As the period covered b,
the Indictment, however, was eighteel
months, being portions of three years
the maximum penalty could hardly b.
construed as "cruel and unusual pun
ishment'' by court of last resort
Among some of the important fact
brought out at the recent trial, AM
on which Judge Lands will base th
amount of the fine to be imposed to
morrow, were the following:
The Standard Oil company of New
Jersey holds si99,5O0 of the s1,OOO,OO'
capital stock of the Standard Oil com
pany of Indiana.
| Outstanding capital stock of tn,
Standard Oil company Of New Jersey
the parent concern, is s9s,3O0,O00.
| Net earnings OF the Standard OF
company Of New Jersey during the
years 1908, 1904 and 1905 approximate
S199 SOC. 900.
Dividends paid on the capital stocl
of the Standard Oil company of New
Jersey during those years approx
mated 40 pr cent of the amount of the
stock, or nearly $4O,000,000.
The Standard Oil company of New
Jersey holds by far the largest portion
of the stock of the Union Tank Line
company.
The Union Tank Line company, witt
a capital stock of $3,50O,000 is $4,000,
900 in debt and has paid no dividends
since 1901,