The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-09-25
STANDARD OILS GREAT BOOTY.

frank ID. hellOgS BRINGS TO view the
Fact That in Eight Years From 1899
to 1895, Inclusive, the Earnings OF
the Standard Oil Company Reached
the Large Total Of Nearly Five
Hundred Millions.
New York, Sept. 17.-Delving into
the financial workings of the Stand
ard OH Company Of New Jersey, the
holding company Of all the subsidiary
organizations Of the sc-called oil tru,+,
Frank B. Kellogg, conducting the fed
eral suit for the dissolution Of the
company, brought forth today to pub
nc view for the rirSt time the aNor-
nous profits made by the Standard
Oil Company. In period of eight
years from 1899 to 1906, inclusive, the
Standard Oil Company, on a state
ment spread upon the record Of to-
days hearings, was shown to have
earned the total profits Of s4sO,315,-
934, or at the rate Of more than $751;
100000 year, and distributed to it's
shareholders in the same period
ssOs. 35s.40S.
| While the company was earning
these vast sums in the refining Of oil
the statements adduced at the hear
ing today show that between 1899 and
| 1906 the assets Of the company grew
by leaps and bounds from $20O,791,-
1873 to $371,664,531. The capital
stock $ss,33s,3S2. Financiers and
those seeking knowledge OF the ex-
| act profits of the Standard Company
have striven vainly to obtain the fig
ures which Mr.. Kellogg succeeded to-
day In placing upon the record of the
court. The Standard Oil Company
makes no statement Of its BUSINESS
and other than the declaration of a
dividend it makes no public announce
| ment by which its business may be
gagged. o..
The hearing today brought out
much information which Mr.. Kellogg
obtained from the Standard OH Com
pany. Mr.. Kellogg obtained a state
ment showing that the Standard OH
Company Of New Jersey. controlled by
stock ownership over seventy compa-
nies engaged in the refining and the
transportation by pipe Of oil on, Sep
tember IA. 1907. The Standard Oil
has always carefully guarded the list
Of its subsidiary companies and the
amount Of its share holdings. The list
showed that the Standard Oil Com
pany Of New Jersey owned $9s9,OOO
| OF the total capital stock Of $1,OOO,0OO
Of the Standard Oil Company Of In
diana. which was recently fined $29,-
100000 by Judge Lands in the Uni
ted States Circuit Court in Chicago for
rebating.
Mr.. Kellogg's efforts at today's
hearing to obtain information Of the
records Of the liquidating trustees,
who had charge Of the liquidation Of
the Standard Oil trust and the ex-
| SAoh6S Va SiAS kiNuiNolAh6 SCl
for the shares Of the Standard Oil
Company OF New Jersey, were not
rewarded. Charles M. Pratt, secre-
tary Of the Standard Oil Company,
who testified that he had been liqui-
dating trustee, said he did not know
the whereabouts Of the records, and
could recall but little regarding the
liquidation Of the Standard Oil trust
Clarence Fay, assistant comptroller
for the Standard Oil Company, the
final witness today, was also unable
to give the governments inquistor
the information he desired which
caused Mr.. Kellogg to remark just
before the hearing closed that he
thought it strange that no one in the
Standard Oil Company seemed to
know where the records Of the liqui-
dating trustees could be found.