Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-09-18
STANDARD OIL
IN FIGHT FOR
EXISTENCE
FEDERAL HEARING
RESUMED IN NEW YORK
Testimony OF Controller Shows
oil Compaoy'S Profits Acre
gate S490,3t5,934 in the
Past Seven Years.

cS4 1tNNH Col b
New YORK. sept II, -pro0ts a1ere-
eatine S4se.8l5s84 were made hF the
standard Oil company n tho seven
wears from 1888 to 1905. Testimony
y this effect was given by Assistant
tAofnptf1N ~ faN of the fnflpanN in
lthe federal hearing hore todaN.
In the same period the company 5
fIoSs assets Increased from S20o, s9l S
b28 10 So .bG4.aaf This IS The 6rsf
time the company's carntneN haV,,
been made public a lst OF secure
ties owned by tho Standard Nu CONS
panN % New jersey presented today
shows that tdat corporation owns
$40 shares 81 The stock of the stand
ara ol company or Iqditaa. which
COMPANY WAS recently sentenced hN
Judge 1sdndis in Chicago 10 pay a FRA
lot S2s.240.0 900. IN addition 10 stat-
i1nR that IN the period 80 seven Years
I reforrcd to, The company total prof
its aggregated S490.Sl6.a8A Nh Fap
said that dividends 10 the amount of
4 lSSoN,Sa9, 9,i30 we're paid in those Ne6rA
I lais statement also disclosed THAI the
icapital stock ~ the standard OF New
Jersey was s96,SsS6l2 ia 1889 and in
4 1905 IL Was SOS. .32S,3S2
when to-day hearing was called
Z before former Judge Franklin Ferris
k 6. Benedict, one 81 The FORMER oWN-
ers ~ The Manhattan Oh company.
I testified as 10 the sale of the concern
which passed into the hands u the
standard on company.
/ Charles NJ Pratt a director and sec.
rctarN OF the standard OIL company,
stated that his knowledge of the hold-
/ iings OF the company IN other com
psnics was only general nc was
asked 20 produce statements showing
] D IA "A a.
I capitalization of all companies IN
which The Standard holds stock inter-
lest
Mr. kellogg questioned the witness
about the & NJ Pratt Investment cont
pany, the stock of which was shown
10 be held by the standard company.
I Hc said the Pratt company represent
ed the stock ~ the Maters-pierce OIL
company ,af Texas, Which he was
I holding for the standard Oil com
panN Mr. kelloRe Developed the Ia
I formation that the g a Pratt In
NesIneht cAmpauy same ipti cNieten,e
at the time the Waters pierce oil rnm-
many was having difficulty with the
state Of Texas
Mr.. kellogg asked N it was not q
fact that the standard company and
It's subsidiary concerns We're governed
nv committees. MI Pratt said he dld
not think 80, though in the early daNs
OF the truHtcpShip of the company u
was likely that the company WAS con.
troiled by committees Nr kelloEg
asked what records were kent by the
trustees showing the manner of liuul-
dalton IN thu period between 1889 ana
1902.
Mr. Pratt. as one ~ the liauidating
trustees OF the standard trust said
there were books kept hut he could
not recall IN whose possession they
might be found
"3aT't YOU know whether thrsa
hooks are Co be found in the comp
trollpTs office or the soCrctatN's Of
nce7" asked Mr. kellosg. ~ really
don't know" answered the witness.
Don't YOU know anything about the
nrraniyatton nf the Standard oil com
panV3" pursued Mr Nollogn. ''Nn, |
sir. I DO not" was Mr. rratt'a an
Hwcr Mr. kellogg asked the witness
if Il wae not n fact that AZ the time /
the Stanard oil trust was liuuidatcd !
that there were aT0.T00 outatanding |
trustees certificates, which had been /
issued Tor the stock ~ the subsidiary 1
and that In 1899 when the /
standard on trust was dissolved, the
standard oil company of New Jersey
exchanged ita stock for the certificates
nf the trust share f1r share. II think |
not" replied Mr. Pratt
MIR Kellogg asked John q Mlhurn.
chief counsel For the defendants, 90
produce all iiuuidatinn certificates is-
sued by the iiuuidating trustees which
had been turned into the standard on l.
of New Jersey Nj Kellogg i
also asked for an HasinnmC ntH nf ivnal n
title given hv those who received the
stock OF the Standard pil company ~
New Jersey.
attorneys Warned Nnainst Delay
Judge Ferriss hap wprnrd the ~.
iarncvH for the dofouao that there
must be no further delay. and II w.
thought that the taking ~ testimony
win now proceed without any nthff
reinforcement During the preaphf
hearing the uil company VIII produce
statementp from ne huuh-. in'.ia,iias
.ta old records. and u % thought mat
he secrets Of the monopoly VIII be-
barred nn they have never been az any
previous court hearing From these !
hooks the prosecution expect tu got
facts that VIII substantial the charge
hat The nil company haa carried on
he operations IN violation 1i the shoi- +,
man antitrust law
Among those auhrnonnd 40 produce
he records are Henry ~ IlaHlrt ami ,
wade Hampton. The iHiflI heinn ecn- ,
,rni auditor ~ ihr company fhir ,
.uhpacna called ZOE me production Hf
hn following records.
unhts ~ tho huatgoa nf the Hland- e
nent dated January 2. 1882 nna lne
amendment thereto da - January q y
.eK9. showing fnr tho fu'i time ~ iif
.Kfaiunrn. and tho pfnrroNlnne nf 'N" I
evafni mrefinRa of ih" aaii ifuatfre
he books. records and accounts hfu
~ ihr said ifuHtnrs. nf uHdrf ihrlf iis
nffiun. showing aii 9in.he bonds 1n
lthrr uecmfiiics of corporation nnd v
limited partnership hold Pcs sAN
fusfess 81 Haid stocks and anrufiiiHHt
rfnrl books NJ thr iiuuidH .lnH frn9-
0ea nf the said nii iruri showing he
Proceedings uf said trustees in liHni- .
afipn ai The various meetings nl we r
late ard the rnmmenr an1nnt nf r1if
March ff. 1882 unill ihe =
rusi rns completely iiuulH.fnd 1ni y
hnainn the brurrrs ~ lluHiHHlian ~
woke ~ other records nf fhe iruFfrfr y
r iiuuiaa aiisfft. ehnwfnn thr nffeun g. 2,
.htsn thn rNihousr ~ awWpf hlr in t
Hs rfapfftf Represented hf Ni. faih ii
,;ssa.inueJ pp paes !. cot AZ s