Middlebury register. (Middlebury, Vt.) 1886-1937, 1907-07-12
NOT WELL POSTED
Rockefeller Unable to Tel Much
Alb ut Standard OIL
CALLS TRUST A BLESSING

Service to Public Than Others Have |
Given--In No Case Has 1t Wifully |
Violated the Law
Chicago. July S.-John ID. Rockefel- |
Ter, president of the Standard Oil COM
pany of New Jersey occupied the wit
ness stand in the United States district
court while Judge Lands piled him
with questions regarding the financial
strength and the business methods of
the corporation of which he is the
head.
Mr. Rockefeller was a very willing
and equally unsatisfactory witness.
He was ready to tell all that he knew,
but he said that he knew practically
nothing. The net result of his eXami-
nation was that he believed during the
years 1903, 1904 and 1905, the period
covered by the indictments on which
the Standard Oil company of Indiana
was recently convicted, the net profits
of the Standard Oil company of New
Jersey were approximately 40 percent
of an outstanding capitalization of
S1OO,OOO,OOO.
The investigation held by Judge
Lands was instituted by him for the
expressed purpose Of determining
whether or not the Standard Oil com
pany of Indiana, which was convicted
of violation of the law, was really
I,. IN, Of
New Jersey; whether the Union Tank
me. whose cars were used for the ship
mcnts made in violation of law, was
similarly owned, and also to obtain an
idea of the financial resources of the
convicted corporation Gin order to in
fict Il fine proportional to the offense
sand the assets of the conN !cted COM
pany.
1t was stated by officers of the
Standard Oil company of New Jersey
that it owned the greater part of the
stock of both the Union Tank line and
the Standard Oil company of Indiana.
Specific figures as TO the earnings of
the parent corporation were given by
Charles NJ. Pratt, its secretary. and
they were close to the estimate given
by Rockefeller.
Mr. Rockefeller said that he ~was
president of the Standard Oh company
of New Jersey. but the position is
purely honorary. and has been for the
last eight or ten years, as he had not
been rendering any service whatever.
After the conclusion of the hearing
the following statement was given to
The Associated Press by John ID.
Rock efeller, as president, and John ID.
Archbold, as vice president of the
Standard Oil company:
"Since the enactment Of the inter
state commerce law in 1887 the Stand
ard Oil company has most carefully
observed its provisions and in 70 case
has wilfully violated the law. 1t well
coined the passage of the law and the
principle of equity which was embodied
in it. The old system of special rates
and rebates was obnoxious and was
never a source Of profit to the company.
The net rate paid for freight was al
WAYS used for a basis for the selling
price in the markets and the consumer
uniformly had the benefit of it.
Moreover, every shipper could Sc
cure such special rates and it was nc
uncommon experience for the Standard
Oil company to discover that its com
petitors had lower rates than it was
shipping under
"The assertion so Stten made by care
less and sensational writers ana critic,
that rebates were the basis of STANDARD
Oil prosperity is absolutely untrue. 1t
prosperity has come through its correc
apprehension of the possible magnitud,
and Importance of the petroleum bust
ness. through its having provided bet
ter and more economical methods TO
doing the business than have It's com
petitors and through a better service
to the public in price and quality than
others have given.
at has made the petroleum industr,
great: has held it for this country IA
against foreign competitors, and w
assert. has been a blessing and not
bane to the country. It's downfall
through any cause would be Il natona
disaster"
Standard Declined Judges Offer
Chicago, July 9.-The attorneys 10
the Standard Oil company yesterda
declined to submit any further evidenc