The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1907-08-05
PROFITS IN OIL COLOSSAL
Continued from Second Page.)

"a ~ NCNA@SAAANSA AAO4AA OSSOAlo d6S'J
& uring recent years have still been al
&pgether excessive as compared with
: Is investment. Thus, if it be assumed
bat the profits from 1897 to 1902 ex-
eeded the dividends by 50 per cent.
= nd that all Of the excess in profits was
dded to the investment In the oil bus
hess, the investment at the close Of
P02 would have been about $260,000000.
The profits in 1903 were $S1, 300, 000 or at
ne rate of over 80 per cent. even on
his high estimate of investment, and
he. average profits of the. three years,
03-1905, represent over rs per cent. on
n investment Of s260,000,00O. When it
remembered that, particularly dur
hg 1904 and 1905, much the larger prof
Il IS Of the Standard must have been de-
lived from its domestic business, it Is
lear that the domestic consumer has
cen compelled to pay an exorbitant
Fibute to the oil monopoly.
prOfts Of the Waters Pierce Oil Conn
pany.
The only individual Standard con-
ern regarding whose profits full infor-
hation is available is the Waters
Pierce OH company. This concern, as
lready stated, does In the United
tates only marketing business, but
Mexico it is engaged in the refining
j & oil as well Us in marketing. The
ecords of the company maket it possi-
lie to distinguish its profits on the bus
hess in the United States from those
Mexico.
The capital stock of the Waters
Z Pierce OIL company for many years
as been 100000. It's profits during re-
ent years have increased with enor-
i nous rapidly. In 1898 the profits were
t the rate Of 256 per cent. on the CAPT
al stock, In 1904 the profits were over
10 per cent. on the capital stock.
The capital stock of the Waters
8 pierce Oil company is much less than
s actual investment; the additions to
IS investments, however, have been
= made out Of its profits.
The rate Of profit Of the Waters
Pierce company on it's total investment
ras the lowest 1888 per cent? in 1896.
increased in almost every year until
the first six months of 1904 the prof
S were at the average rate Of Az
or cent. per year. The rate of profit
n the investment in the business In
he United States was 1911 per cent. in
BOG (being reduced by excessive COM
EDITION in St. Louis), while from 1900
1908 it ranged from 40 to As per cent.
er year.
The actual amount Of profits on the
otal business in 1903 (the last full year
overed) was $2,699f,s1S, the net in
estment bein $6,22S,S32. The profit In
he United States in that year was ST.
642 on an investment Of $3,2S5,352.
The profits of the Waters-Pierce
lonpany have increased not merely IL
proportion to the investment, but also
er unit of product sold. The most i'm
Iortant product is Illuminating oil.
It will be seen that the average profit
bn Illuminating oil for the five years
sos to 1879 was SO cents per barrel
while for the four and one-half year.
rom 1900 no June, 1904, the average wal
.92, a very marked increase.
On gasoline the profits of the Water
: Pierce in the United States from 1895 tt
Ss9 averaged "a cents per barrel, ant
krom 1900 to 1904, $101. On lubricatinI
Bill the average for the first period wa
b. S per barrel and for the second Sl.St
Combining the profits for the thre
Elasses of petroleum oils, illuminating
gasoline, and lubricating, in aocordanc
With the actual quantity sold, the av
rage for the years 1895 to 1898 is fount
o be 80 cents per barrel, and from 100
% 1904, $1.S1, or is and 2.6 cents pc
gallon, respectively.
1t would be highly desirable, if tn
lata were available, to show what pro
portion of the total profits of the Stan
lard Oil company, as above stated, Ia
: peen derived from the business in tn
United States. The indications fror