The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-08-05

"A.ia*' J1di5 dtil1 hGt, as aDDNe,
groups II years1 from 1893 to l904
WAY ever 2 cents per gallon, and, al
wils d vel# liberal estimate of Oh,
halt cant per gallon (25 per ceat) for
laer ass in the c9st3 ia production
and marketing during tlis period, The
net average Increase In profit during
chose seven years would thus be at
least l5 cents per gallon # the
same ineaarse i'll profit be applied 90
the Standards eatire sales Of all
kinds AZ petroleum products in tine
United States In 1901, the profits for
that year would be abeut S21000,000
mcrc thar they would have been or
the basis Of the prices and costs il
1883 As matter Of fact, the known
ness a. stated hereinafter, was more
laaa this
Similarly for the year 1903 when |
the prices of oil reached their maxi |
l1am, tl4asa Prices wcuId represent an
increase IN the Standards profits On
sales IA tie United States that year
Of nearly s25,oG0000 ever prices and
costs I'll 1888
These fiGlras show concIusiyeiY
ths effect al the domination ol the3
STANDARD on the amount that the pub-
lie pays for it's oil.
Naturally an increase has also
taken place in the profits Of the f
Standard by reason OF this price
policy. The increase in annual pro-
its from 1896 to 1894 was over ST.
100000
Fabulous Dividends Paid.
The total dividends paid by the
standard from 1882 to 1906 were
55I .922 ,99450, averaging thus 2Al5
er cent par year The dividends,
oweyer were much less than the to-
II earnings. Exact Information as %
hese earnings is available only for
be years 1882 to 1896 and for the A
ears 1903 to 1905 inclusive an az
regate for these years Of about
100000; but from these figures
he earnings for the ether six years
lay be estimated with some degree
correctness, and IL Is substantially
,rtain that the entire net earnings
the Standard from 1882 to 1906 fu
ere at least $79O.o0o000 and pos fr
bly, much more eff
These enormous profits have been w
Used on an investment worth al the bu
ne Of its original acquisition not OK
ore than s75O00,000. in
Furthermore, the rate of profit on
G capitalization has increased great Cd
From 1882 to 1894 the net earn. fol
gs averaged about 10 per cent on ito
G capital stock or trust certificates an
while the average net Is
rnipgs for The period from 1903 to Et'
o5 were about 6S per cent yearly. abe
These rates Of profit and their
eat increase are strilingly con
med by the known profits of one
portant Standard concern. the wi
aters Pierce Oil Company. The
vest rate Of profit on its investment !
s in lS9G-23.3 per cent. It in eel
'ased in nearly every year there cha
err until in the first six months of Gus
"a the profits were at the rate OF boa
2 per cent per year. Moreove, and
rate of profit of this comnanv Aas
increased not only IN proportion nc
its investment but also per unit Dell
products sold The average pro ior'
On Illuminating oil for the Years anc
o TO 1893 was So cents per barrel so'
lie from 1900 20 June. 1904 the Hpa
rage profit was sl32 per barrel
n similar Increase OF profits on the
'olfant byprcducfs. d
| further verihoation of The ura- '7ss
OF the Standard was afforded bv ffa
'putation Of the profits OF certain and
its individual reanerias. In 1904 ers'
rate Of profit on investment in Gen
Sc refineIies and in the markatine -el.
Germs distributing their nrodusss ling
as follows; Refinery ar lin, 300
o, 3 per cent. Whiting. Ind 4
cent: Sugar Green. No. AZ nor
{; Neodesha, Kas.. 35 per cent NJ
renee. Colo. Sc per cent, or GER
shted average Of q per cont 5 3
r. % cents per Gallon OF Grade man
aie}- Taiz excludes tho profits VIII
lipe-lin7 business. ltie
BE- fcres Cins facts az a. tho rr,- 7sIe
viii 4z-r-- -.-.7-r. '|-.af1