The Owosso times. (Owosso, Mich.) 1897-1926, 1907-10-18

IT was thought that possibly these vas,
loans which officials of the Standard
could not explain might conceal the
purchase Of ostensible rivals.
On preceding day the spectacle was
presented Of the head Of an oil com
pany reputed to be competitor of the
Standard, the New York Lubricating
Oil company. refusing on cross exam
ination to put in the hands Of the
Standard counsel the private papers
and original contracts of the firm. He
said he would not thus put In jeopardy
information which could be used
against his concern. The fact was
brought out here that all the big rail-
roads pay from $4,000 to 100000
more for their lubricants bought of
the Standard than would be the cost
ut the rates charged by the independ-
ent company. A complete balance
sheet and income account. of the oil
trust were made public for the first
time They showed that, while the
company paid $40,OO0,O0O in dividends
last year, more than $S3.OOO,0O0 was
carried in the income account, leaving q
surplus of nearly S44 100000. This made
total surplus Of $261, 100000. The
balance sheet shows total assets about
$371,664,532. The value OF the various
subsidiary companies is given. Rec
ords of the liquidating trustees were
introduced to show that the dissolu-
ton of the trust. which occurred osten.
sibly in 1892, never occurred.
Tobacco Trust Makes Answer.
The American Tobacco company has
filed its answer in the suit begun by
the United States government last
July. The answer of the trust and OF
the codefendants, including Thomas f.
Ryan, James b. Duke. Oliver Ii. Payne
and Anthony n. Brady. directors, is
that, while the trust has combined
many companies and interests into one.
it has no power to control the indus
try in which it engages. The trust
holds that so long as brands of cigars
not be destroyed, because it is strug-
gle between brands and not between
factories. 1t holds that brands have
their strength in the fact that tobacco
is luxury, the consumer desiring
only that his taste shall be satisfied.
The trust denies that the United Cigar
Stores company, which aims to monop-
Ollie the retail trade, was started by
the American Tobacco company. 1t
credits this vast retail business to
George j. Whalen and associates and
says that they entered the field in spite
Of the opposition of the trust. 1t is
admitted that now the trust owns
5000, 900 out of 100000 worth Of stock
in the United Cigar Stores company.
Moffett's Charges Unsustained.
The examination of President James
A. Moffett Of the Standard Oil Com
pany Of Indiana by the federal grand
jury at Chicago resulted in a complete
failure to show any shipper who re-
ceived rebates from the Alton railway
similar to those granted to the Stand
ard Oil company. The jury was then
dismissed.
Frank Marin Convicted.
The prime mover in the Storey Cot
ton company swindle, with headquar-
ters In Philadelphia, which was ex-
posed and put out Of business more
than two years ago, has now been
brought to justice. Frank c.. Marin.
alias Judge" Franklin Stone, after an
extended trial has been found guilty
Of using the mails for fraudulent pur-
poses. The maximum penalty is $780,
900 or two years in prison, or both.
Christian Scientists Convicted.
Mr.. and Mrs. Edwin NJ. Watson.
Christian Scientists of Mount Holly.
N. j., were convicted Of manslaughter
In having neglected to call physician
for the treatment of their three year
old son. who died of meningitis. The
extreme penalty is fifteen years i'm
but the attorneys for the
accused persons assert that they will
carry the case to the highest court If
necessary.