The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-09-20
EARNINGS IN
OIL NEARLY
A BILLION
1contInued from Flr.t Page,


shares, and those of H. H. Rogers 49,.
020 shares.
Wesley I'll. Tilford, treasurer of the
pany, again took the witness stand tc
be questioned further for information
regarding the transition of the Stand
ard Or trust into the present oil trust.
Accountants for the government are
still engaged on the records of the
liquidating trusts and ledgers obtained
from the company, and while the ok
animation has not been fully COM
pleted, it was said today that the
books of the Standard company show
that since 1882 to the present time the
oil combine has earned between $500, :
COO, 900 and 5000, 900, 900.
The accountants are expected to
complete their work some time next
week when the exact figures will be
produced in court. The officials who
are conducting the governments case
are highly appreciative of the infor-
nation they have obtained from Attor-
ney-General Ellis, of Ohio, and Attor-
ney-Generals of other States, who have
aided them in this case.
Mr.. Tilford, on resumption Of he
hearing today, was asked If the divi-
dend of the Standard Oil Company Of
New Jersey in 1899 was $14, 304, 1873 or
1872, 0OS. 041.
IT think the dividend was s14, 3O4. 1885,"
replied Mr.. Tilford.
And the reason why the dividends
were so small was that the dividends
in some of the subsidiary companies
were paid to individuals instead of to
the Standard Oil Company of New
Jersey?"
yes, I think So" said Mr.. Tilford.
Mr., Tilford said hat to the present
date 972, 492 shares IF the Standard Oil
Company of New Jersey has been ex-
changed for trust certificates. He said
there still remains outstanding stock of
the subsidiary companies which has not
been exchanged for the remaining eight
shares of the Standard Oil Company.
Mr.. Tilford did not know If it was
a fact hat in 1888 Or 1889 the Manhat-
a Oil Company Of Ohio sold its tank
cars to the Union Tank Line, a sub
sidiary company of the STANDARD com
pany, nor could he say If the Chic OIL
another Standard subsidiary,
purchased the o~il-producing wells OF
the Manhattan company. E.
Nov, did not the Solar Refining
another subsidiary company
of the Standard, purchase at that
time the refinery of the Manhattan
Oil Company asked Mr.. Kellogg.
Mr.. Tilford again replied; Il do not
Mr.. Tilford was questioned regard
the records showing the amounts
of shares of the subsidiary companies
held In exchange for the trustees cer-
.tifcates. The witness said he did not
nave the record.
The present record of stockholders in the
Oil Company of New Jersey
shows that John D. Rockefeller has since
S99, when the Standard Oil trust was
inallv dissolved, reduced his holdings in
he by 9,162 shares. 1t was de-
,eloped yesterday that Mr.. Rockefeller
leld 256, S54 liquidating trustees certificates
)ut of a total Of 972, 500 certificates.
The University of Chicago owns 5000
shares OF the Standard Oil Company
stock.
Mr.. Tilford said he did not know if the
other subsidiary companies OF the Stand
ard elected their directors In a like manner
to the Standard Oil Company of New
York.
Concerning the business of the Standard
Oil Company of New York, Mr.. Tilford
said It handled practically all the export
of the parent company and that
purchased the Oil from subsidiary COM
panies of the Standard. Mr.. Tilford was
asked If the New York company purchased
oil from any companies other than the
subsidiary companies, and he replied that
purchases were made from companies
in Western Pennsylvania.
Mr.. Kellogg developed from Mr.. TilfoTd
that an understanding had been entered
in 1903 with the Pittsburg OIL Refining
Company and several other independent
companies situated along the Standards
pipe line whereby the independents were
to furnish a maximum quantity Of oil each
day to be divided among themselves and
the standard was to take all the export
oil refined by these independents.
rs IL not a fact that before this agree
ment was entered into the supply of crud,
oil which was being furnished to these
Independents was materially reduced?"
asked Mr.. Kellogg.
Il think 1t was" answered MI. Tilford.
Later, when questioned by the govern
ment's attorney, Mr.. Kellogg, he said he
had no knowledge OF any complaints which
A. d. Miller & Son, of Pittsburg, one Of
the independents made to w. B. Wall,
head of the Petroleum Association in CleVe-
land, that the Standard had objected to
their selling oil to any other exporting
firm.
Mr.. Tilford said the Standard company
liked the export price.