Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1907-07-27
STANDARD OIL CO.
Behind (RAFIERS
Indicted Financiers Are
All Controlled
BY 1t

that the biggest interests of the coun-
try are mixed UP in the graft fight:
The Standard Oil Company is on the
defensive in California. No direct at
tack is being made on the corporation,
as Is the case in other States, but a
close investigation of the companies
involved in recent indictments for COR
ruption shows that majority of them
have Standard Oil Affiliations.
Far in the background of the United
Railroads Company, the Pacific States
Telephone and Telegraph Company,
the San Francisco Gas and Electric
Light Company and the Southern Pa
clfc Company Is the powerful aggrega
ton of capital of which H H. Rogers
is the most active spirit. Only the
Home Telephone Company and the
Parkside Realty Company, of the cor
porations accused of using corrupt
methods to obtain favOrs from the city
of San Francisco, are not affiliated
quently the defense is being organized
and conducted along Standard Oil
lines.
AS "all roads lead to Rome every
trail of the gas, electric, street rail-
road and telephone companies mem
toned leads to the Wells Fargo-Neva-
da National Bank. This is recognized
on the Pacific coast as being as clearly
Standard Oil institution as is the
National City Bank, of New York.
GETS CONTROL-OF BANK.
When E. H. Hartman obtained con-
troll of the Wells-Fargo Express Com
pany within the last two years one or
the incidents of this transaction was
gaining control of the Wells-Fargo
hank. This institution was consoli-
dated with the Nevada National Bank
under the leadership of ]. W. Hellman,
Of Los An sees, aid became the most
powerful financial institution on the
Pacific coast.
1t is gossip among bankers that one
of the conditions of the consolidation
waY that Mr.. Hartman was to have
control of the surplus, running some
where around S:c,000,0G0.
The Wells Fargo-Nevada National
has been conspicuous since that time
in the financing of various public SER
vice corporations, several OF which are
now deeply involved in the charges or
municipal corruption A
Most important of the deals was the
reorganization of the street railway
system of San Francisco and, the for
nation of the United Railroads Com
pany, which now has absolute control
of the local traction situation. The
banking house of Ladenburg, Thai
mann & Co., of New York, figures as
the controlling factor, and 1t is cur
rently understood the firm represents
H. H. Rogers and associates. The San
Francisco end of the finances has been
handled through the Wells Fargo-Ne-
vada National Bank.
Patrick Calhoun, president of the
United Railroads Company, is actively
in charge of the operation and man
agement of the company He is now
under indictment for brihing the
Board of Supervisors and is the most
conspicuous figure among the accused
financiers.
The Pacific Gas and Electric Com
pany is the result of another CONSOLE
dation of comparatively recent date.
This transaction also went through the
Neutrality-suspicious. National Bank
and 1t is currently believed the same
interests are in control. Leading off,
Gals of this corporation are under in
dictment for bribing the Board of SUI
pervisors in the matter of fixing gas
rates.
The Pacific States Telephone and
Telegraph Company is a Bell institu-
ton, and consequently it is controlled
by the American Telephone and Tele-
graph Company. The influence OF H.
H. Rogers and his associates in this
corporation is well known.
STANDARD OIL INFLUENCE.
Political methods of the Southern
Pacific Railroad Company are now I'M
der investigation. The Southern Pa
cific is chairman road" and the in
fluence of Standard Oil again is well
understood in financial circles.
This does not complete the list of
public service corporations which have
close Affiliations with the Hartmann
Standard Oil bank. The Spring Val
ley Water Company. which controls
the water supply of San Francisco, Is
now recognized as a Wells-Fargo-Ne-
vada National institution. This COM
pany enjoys the proud distinction Of
being a public, service corporation no
official of which is under indictment
for bribery.
The Spring Valley Water Company
used to do business with the Board
of Supervisors and Mr.. Herrin gained
the favorable attention of c. p. Hunt
ington through his success in this line
as counsel for the water company. The
water company concluded few years
ago, however, to cut GU the appropria-
tions for public officials. 1t has had
trouble ever since, and the Wells
Fargo-Nevada National bank, which
undertook to float recent large bond
issue, still has these millions Of "un-
digested securities
There are two more corporations
which are accused of bribery. One is
the Home Telephone Company and the
other the Parkside Realty Company,
Croker institution.
1t has been charged by Mr.. Calhoun
and his friends that the prosecutions
originated in a desire on the part OF
Rudolph Spreckels to depreciate the
stock of the United Railroads COM
pany, get even with Mr.. Calhoun
md y,arhanc a>foi, a0nfrnl of Tho