The Montgomery advertiser., 1907-09-19
MORE LIGHT
 ON PROFITS Over One Thousand Per
 Cent. STANDARD OIL HEARING Kellosg Demands Copy of 1882 Trust Agreement. The Company's OmeiaIs Refuse to Pro- duee Copy and VIII Not Do
 So Until Ordered
 by Court.

New York. Sept. 1S-More light was shed on the remarkable earning capaci- ty of the various subsidiary companies of the Standard oil Company when to- day Frank B. Kellogg. who is conduct in the Federal suit succeeded in plac- ing upon the records, the profits of seventeen of the principal subsidiary companies in the years 1903 and 1906.
 The statement of the earnings of the Standard oil Company of Indiana which was recently fined $29.240.o00 by Judge Landis, of Chicago. for relating dis closed that in 1906 the company earned no less than $10,516.oS2 on a capitaliza- tion of $1,000,o00. or over one thousand per cent year The Indiana company in 1906 earned more than any other subsidiary company of the big combine.
 MT. Kellogg developed during the day while Clarence c. Fay, assistant comp troller of the Standard oil Company was on the stand, curious problem of financial bookkeeping. or handling of accounts which Mir. Fay failed to explain. From figures submitted it was shown that the Standard oil Com pany of New York in 1904 made a profit of $7,751,160 and paid in divi- dends to the Standard oil Company of New Jersey the total sum of $32,99s,- 43O.
 This transaction reduced the net as- sets of the New York company from $40.425.so to $15.179. 7O6, while the liabilities leaped from s47,e46235. Tn 1903 to $s1,395,145 in 1904, an increase of nearly S34,000. 900. The gross assets of the New York company however. increased from $ss.074.561 in 1908 to $s6.574.s52 in 1904. Meanwhile the ao- counts receivable of the Standard oil Company Of New Jersey grew form s19,045.014 in 1903 to $5s.272.s24. MT. Fay was closely questioned as to the nature of the increased liabilities Of the New York Company and increase in the accounts receivable of the Standard oil Company, of New Jersey, but heT said he could not tell until he had ex- atnined the books of both companies, which he told Mir. Kellogg he would do.
 Charles M. Pratt secretary of the Standard oil Company recalled to the witness stand. told how he had held for the Standard oil Company the stock of the Waters-Pierce oil Company at the time when 1t was not permitted to operate in the State of Texas. He said that he held the stock as a matter of convenience and not to avoid the anti trust laws of Texas.
 Mir Pratt threw some interesting side lights on the Waters-Pierce oil Company, the stock of which was held for a long period by M. M. Van Buren, who was not connected with the Standard oil Company. MT. Van Buren purchased the stock from Mir. Pratt and early this year. the Standard Com pany bought 1t back. The nature of the transaction showed that MT. Van Buren received from the Standard oil Company exactly what he paid for the stock and that during the time he held 1t, the dividends were paid to the Standard Company.
 Wesley TilfOrd. treasurer of the Standard oil Company was called to the stand late today and Mir. Kellogg made an effort to have spread on the record a copy of the trust agreement of 1882, but John c. Milburn. Chief counsel of the defendant companies objected on the ground that such an agreement was prior to July 2, 1SSO when the sherman antitrust law went into effect.
 The statement of dividends and corporations of the Standard oil Com pany of Indiana as presented in the Federal proceedings now in progress In this city follows;
 Subsidiary Corporations.
 Atlanta Refining Company. In l9OS' capital $5,000.000; dividends $S,4S9,s3Oi profits $9,794, 19O; in 1906. dividends $2.- 249.955; profits. $5,506.237.
 Buckeye Pipe Line Company ln 1903. capital $1o.00o.O0O; dividends. $1.- 49s, ,953; profits. $4,594,147; In 1906, di- vidends, $5,799,79S; profits. $7,02S.362'
 Continental oil Company, 1903, capi- tai SsOO, ,0O0; dividends, $4sS.oOO; profitA S57s,990; In 1906, dividends. $4Ob'OO0; profits, $575.o4S. ,oo.
 Nwa. Nn capital $3.000, 1000: dividends, $2's4s'A4O; profits, $3,l18.S95; in 1906. dividends. S3949634; profits, $2.433,lO4.
 Galena Signal, in 1903, capital, $10,- OOO.O 900; dividends, $1,125.56o; prohts, $1.632,271; in 1906, dividends. S1'S77'20o; profits, $2,sO3.056. .
 Indiana Pipe Line Company, in 1905. canital sf .O00. 900; dividends. $3,79s.- S60. profits, S4196.664; in 1906, dtvi- dends' s2l79,345; profits. $2,S14,5SS.
 National Transit Company, in 1903, canital. S25. 5.455 200; dividends $2,S43,- i65: profits. S5,34O.O42; fin 1906, divi- dends. $5O9O.33O; profits. 1.S29. .767.
 New York Transit Company, in 1905 capital, $5,00O,00O dividends, $S.s49,- 2se. prohts. s3.oS5'ss9: In 1906; divi- dends- $2,O99,9558: profits, $2,343,2S2.
 Northern Pipe Line Company, 1904, canital. S1, ,O0O. 900; dividends. $79,s92; profits, $s0, ,522; 1906. dividends, $2,OO0.-
 
 O0O; profits. $1,591,6l4.
 Solar Refining Company. 1903. capi- taI. $500. 900; dividends, $1.43s,13s; prof its. S1.129, ,47O; 1906. dividends, $44s,460; profits. $1,253,b19.
 Southern Pipe Line Company. 1904. capital. S6OOO.OOO; dividends, $599,9ss; profits, $1,139.O16 1906, dividends. $4.- 5s9.s3S; profits, s4,649,3O6.
 standard oil Company of Iowa, 1903, capital. S1,OOOO dividends. $500. .OOO; profits. $l,OOs.41s; 1906 dividends. $S.- so4 O96; profits. s673977.
 Standard oil Company of Indiana. 1903. capital. $1,OOO, 900; dividends. $s.- 4s1.5oo; profits, $8.753.41O; 1906 divi- dends, S4,496, 300; profits $1O.51e.0S2.
 Standard oil Company of Kentucky. 1903. capital $l.OO0.OOo: dividends. $997 200: profits. $1,772,17S; 1906 divi- dends, $1. .994. 400; prohts. s1.3O7.750.
 Standard oil Company of New York. 1903. capital. $l5.OOO,000; dividends. S1O,s5s. $50; profits. &1A391.O46; 1906. dividends, S1O14s.O9o; profits, $s.55s.- 0s1.
 Standard oil Company of Ohio 1903, ..rital ssb0O. 900; diyidends AHA a70.