The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-01-01
OIL KING INDIGNANT
Charges Stock Depreciation
to DemagOgic Activity.
HIS OWN LOSS IS MILLIONS
First Os Year Inventories, lie Says,
VIII show Enormous ShrinkRgcs.
Wage Farmers VIII SufEer-HOw
Corporations Have wrought Good.
Tribute 20 New York Financiers.

Copyrighted by the NcuGar,c Enterprise Associa-
ticuI
New York. Dec. 31.-Ia an interview
granted Marleu T. Pew. of the News
paper Enterprise Association, John b.
Rockefeller spoke as follows
In making inventories for the year
just ending a great many business men
IN this country VIII find that they have
suffered a loss amounting TO millions Of
dollars, due 20 shrnkage Of value Of their
shareholdings during the twelve months
just past
This is in the face Of OVeTgreat pros
perity, the greatest era of prosperity in
the history Of our country.
why should stock values be lower to-
day than they were year ago?
Il can only account for it by the at
rate interests during the last year or two
year-unwarranted attacks that go 10
tear down the structures that have been
reared by our people through great effort,
energy, and patience.
THE effect Of these attacks was, Of
course. first felt by capitalists. and then.
through them, the effect was felt by the
debtor classes.
The debtor classes are feeling the ef-
feet more than ever now.
Wage Farmers VIII Feel Depression.
Who will be the next 10 suffer?
Why the man with The dinner pail
the workmingman, whose wages are now
higher than ever before IN our history;
20 per cent higher. beiieye the statistics
say than they were five OF six years ago.
when stock values are deprecated as
al present capitalists generally begin 20
take IN their loans, dispose Of their col
lateral, and then the debtor classes feel
the depression. When the debtor classes
feel the depression they retrench, and
then il is the woTkingman's time 20
suffer. I believe January inventories will
be a surprise 90 many people
These are the words Of JOAN D. Rookie
Teller. Coming at the opening Of the new
year. al time when the whole world
looks upon America for her greatest
measure Of success in commerce and
trade, coming at d time when the whole
strength Of the administration az Wash
ingJon is supposed 20 be directed against
Mir Rockefeller's gigantic oil trust. and
when State governments are trying 10 dis
rupt the monopoly, ii is perhaps the most
extraordinary public statement ever made
by the founder Of the Standard oil Com
pany.
Tone SaVOTS of Indignation.
Guarded in his every utterance. speak
ing always with elaboration, sometimes
with "A soft accent upon his words. and
again with intense earnestness. there ran
through Mr.. Rockefeller's entire CONVEX
sation with the writer. which was Of
nearly three hours duration. a note Of in
diguation which, though v2ilsd, was uG-
mistakable-i indignation at the political
attitude OF antag0nism against corporate
wealth.
Mr. Rockefeuer's broadest declaration
has been quoted above. lie made no ref
erence 10 President Roosevelt or his adj
mlnisJration. nor did he once mention the
name Of the Standard oil Company.
He did say that the shriukage on The
value Of his own stock holdings would be
shown by the January inventory 10
amount 20 several millions of dollars.
This was said mildly. without snow of
feeling. and iu a tone OF voice that the
average business man might speak of
minor failure or a temporary disapp0int-
meut in his affairs.
The RockefoIIvf lodge is a compare
lively small and plain frame structure.
almost entirely surrounded by a glass
iuclOsed sun parlor.
There is absolutely nothing about the
house to indicate the enormous wealth Of
its p0ssessOr- inexpensive light-ColOred
wallpaper in the large reception room
and the living room was relieved by a
few etchings and prints. There were no
paintings There were q few books, re-
l.gious or standard novels. on The sitting