The weekly Corinthian. (Corinth, Miss.) 1894-19??, 1907-09-26
STANDARDS RULING POLICY DIS
CLOSED rHsoueH RELuc-
TANr CONTROLLER.
FIGURES GIVEN IN DETAIL
800. counsel declares They Are No
Larger Average Than Grocery
susiness--sooks Dark
on 100000.

noratfons controlled pl tAS
pu Germany we're the rule, and not
ne syception. under the Rockefeller
ssn,,nistrat,on. This fact was shown
Wednesday. s.ana
For wears the earnings of the stand
ava and rs subsidiary companies have
neen cIouded in mystery, but at the
Rearing before Referee Ferriss We'd
nesday in the proceedings brought at
81 Louis by the federal government
- dissolve the Standard Oil OF New
Jersey there was dragged from a re-
,uctant witness, Assistant Controller
Fav an array Of figures that staggered
the EXPERTS relative to the earnings oil
the II subsidiary companies OF the
Standard. They were:
Atlantic Oil company-eapltaI, 90
600 900; dividend in 1908, SS,4ss,SSo.
Continental OH Company-capital
$500 600: dividend in 1906, 100000.
Indiana Pipe Lines-Capital, Sl,OOO,-
600 dividends in 1908, ss,79S,S6O-
standard OH Of lndiana-Capital,
81 600 600; dividends in 1908, sS'49l,-
500.
STANDARD Oil Of ohio-Capital, So
100000; dividends in 1903, sl74,97O.
But the profits OF the Ohio company
in that year were, according to the
books, S96O,1s4.
standard Oil OF Kentucliy-Capital,
81 100000; dividends in 1906, Sl,994,-
400.
standard Oil Of New York-Capital
$4,000. 600; dividends in 1908, s1O,-
ass 1860. and earnings that same year,
sl4S91.O46
STANDARD Pipe Line-Capital 3d.
100000; dividends in 1906, s4,599,9SS.
Approximate Totals.
The totals from the II companies,
as added by the attorneys, approx
mated: Capital, $92,255,2Oo; dlvi-
dends paid in 1908, s47S46,9s5. Prof
its that same year, 6S,6s5,95S; divi-
bends paid in 1906, Sal ,S69,625; profits
that same year S5T349,0S2.
Fay explained that the figures as
quoted by him were correct.
"These figures seem at first glance
very large but before we get through
with them we will prove that they are
no largr in relation to the Investment
than those Of an average grocery bus
mess" is the way Moritz Rosenthal
of counsel for the Standard. summed
it up when asked about the matter.
He declared the Standard has nothing
in its books it desires to hide, and its
policy in this case will be to give the
commissioner all Information he de-
sires
Controller Pay Back on stand.
Does your balance sheet show the
asset from which it was derived?'
The witness hesitated, then. after
staring blankly at the Standards law
yers, replied that he didn't know
is the Waters-Pierce Oil Com
pany's account listed as an asset in
your beoks?'
Since 1888, when ! assumed charge,
it has not been carried as far as /
know
WAS it there before 1902
Yes
Lawyer Rosenthal said that in the
statement furnished the stock in ques-
ton was listed as an asset in 1899.
Wants to Locate 1t.
Yes, but want to find where it
was while earning an income as it did
in 1902" said ISeliogg.
What was the asset in 1892
Three million, siXty-seven thousand
eight hundred ana unety-two dollars
and sixteen cents, the value OF 2747
Attorney Milburn objected 10 the
line Of questioning. but was overruled.
DO you know Of any entry that
would explain where the stock ISL"
no, sir"
Then all you know is that in 1902
the Standard OIL received from the G.
NJ. Pratt investment S1S7,40O, and in
1904, s1,o99,2Oo, and in 1905, St,S5S,.
7Oo?g
yes, sir"
=. 2. Fay, assistant controller of the
Oil Company Of New Jersey, brought
to court several books containing rec
ords Of the oil trusteeship when he
appeared before Special Examiner
Franklin Ferriss, in the government
suit to dissolve the New Jersey cor
poration. He was the first witness,
and submitted a statement Of the in
come from the &c. NJ. Pratt invest.
ment9 to have been $1s7 400 in 1902.
s1,0ss,2O IN 1903, $l,S5s,760 IN 1904.
slS1,s5o in 1905 and disappeared in
1906. : - = -
Kellogg asked Fay from what this
sncome originated. but the witness
said that he knew only that Il was
paid in by c. M. Pratt.
Moritz Rosenthal of Chicago. coun-
sci for the Standard Oil. interrupted
TO say there was no attempt to con.
ceal the fact mat this investment was
holdings of sock in the waters-Pierce
oil Company of Missouri, held by @
Ms Pratt for the Standard. a.