Daily press. [volume] (Newport News, Va.) 1896-current, 1907-09-18
COMPANY DIVIDES ENORMOUS SUN
Nearly Five Hundred Million DoIIars
Has Been Distributed Among Stock
holders in Past Eight Years--Mr.
Kellogg Also Brings Out Names Of
Subsidiary Companies, eu. couldp't
Obtain Records of Trustees.


NEW YORK. Sept. I7.-Delyipr IN.
10 the financial workings of the Stnn-
dard OH Company of New Jersey tho
holding company of all tho subsidiary
ORGANIZATIONS of the socalled oil trust.
Frank b. Kellogg, conducting tho
federal suit for the dissolution of the
company, brought forth today to pub
lie View for the first time tho enor.
nous profits made by the STANDARD
vi Company. In a period OF eight
years from 1909 to 1906 inclusive. the
standard OH Company. I'm statement
spread upon the record of todny's hear
ihgs was shown to have earned the
total profits of Si903l5,943. or nj the
rate Of more than sci 100000 n year
and distributed to Its shareholders in
ne came period $S0S. 15D .403.
While the company was ensniflg
these vast sums III the refining &C
on me statements added ut the hear
lng show that between 1899 and 1906
the assets of the company grew nv
temps and bounds from 5000, 701 ,523 to
1871, G6i ,53l.
The capital stock is sos, 1913 1852.
Finnnciers and those seeking know
ledge OF the exnct profits of the Stan.
dnrd company have striven yainly to
Obtain the figures. which Mr.. Kellogg
succeeded today in placing upon tho
record of the courts.
The Standard Oil Company makes
no statement of It's business ann 9th
or than the declaration of n dividend
II makes no public announcement by
which It's business may be gagged
The hearing today brought out much
information which Mr.. kellogg oh.
tanned from the Standard Oil Com
pany.
Secured Name of Companies.
Mr.. kellogg obtained II statement
showing that tho Standard on Com.
pany OF New Jersey controlled by
stock ownership over seventy COM
pnnles engaged in the refining bust.
ness. transportation by pipe line OF
oil on Sentember IA, 1907. The
Standard OH has always carefully
guarded the list of its subsidiary com
panies and the amount of its share
holdings.
The list showed that the Standard
Oil Company of New Jersey owned
S99o.OOO of the total capital stock OF
SLoO0.OOO OF the Standard OH COMPANY
OF Indiana. which was recently fined
S29,2i0.000 by Judge Landis In tho
United States circuit court in Chicago
for rebating.
Mr. Kelloggs efforts mt today's hear
ing 10 obtain Information of the re-
cords of the liquidating trustees. who
had charge of the liquidation of the
Standard Oil trust and the exchange
of the liqnidating trust certificates Tor
the shares of the Standard OH Com
pany of New Jersey. were not reward
ed Charles NJ. Pratt. secretary of the
Standard Oil Company, who testified
that he had been iquidating trus.
tee. said that he did not know the
whereabouts OF the records and could
irccall but little regarding the llqui-
dation of the Standard Oil trust
Clarence Fay. assistant comptroller
for the STANDARD Company, the final
witness today, was also unable to give
the governments inquisitor the infor-
nation 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 seem to know where
the records of the liquidating trus-
tees could be found.
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