Daily press. [volume] (Newport News, Va.) 1896-current, 1908-12-08
One of Trusts Branches Earned Fifty
five Millions in Seventeen Years on
Capitalization Of One MiiIion-Arch-
bold Briefly Examined.

NEW YORK. Dec. 1--FiSmlcs show
ling some of the profits of the Stand
ard Oil Company became part of the
cLurt record in the federal suit IL
dissolve the Standard today. when
John ID. Archbold resumed The stand
for brief examination and Henry
Tilford. president of the Standard Oil
Company Of California testified a,
some length as witness for the ie'
tense
The government inquisitcr on
figures submitted showed that the
Continental Oil Company. a Standard
subsidiary in the middle West. made
profits of 1l5 per cent Oh its capitall'
cation Of $500, 900, and that the Stand.
ard Oil Company, OF indiana, on 4
capitalization of sl,o000O0 earned
about s55.000.000 between 1859 and
1906.
Contracts With Competitors.
Through Mr.. Tilford. the counse!
for the government sought to bring
cut that in California and other states
OF the far West, the Standard hal
made contracts with is competitors.
whereby the Standard obtained all
The crude oil supply and thereby had
the refining field to itself.
Mr.. Tilford said h" had little knowF
edge of these contracts. Referring TO
OIL trade rate cutting wars in Colo
rado and in the far West, Mr. Tilford
said TIE Standard never cut prices
to undersell its competitors. but simp-
ly lowered rates to meet reductions
Of its rivals.
Mr.. Tilfori's examination Will like
" be concluded tomorrow. and eth
er William Rockefeller or Frank S.
Moffett, president of the Standard on
Company of Indiana. will be called
20 testify.
Standard Forced Out Rivals.
Mr.. Archbolds testimony had TO do
with details Of certain properties con-
veyed to lae Standard on its organiza-
ton. Mr.. Archbold said the es'ab-
lishment OF marketing stations 10
compete With the rivals OF Tn"
Standard naturally forced small deal
ers and jo5bers gradually from the
field Regarding the Standard Oh
Company OF Indiana NJ. ArchDoid
said i, was originally capitalized for
81 900. 900 and had borrowed large
sums from other companies which il
had paid of out Of earnings.
Mr.. Kellogg asked If the Standard
of Indiana had not made net earn
ings OF over So. 600, 900 between the
years 1889 AMI 1906 on a million dol
lar capitalization.
Had Consumer in Mind.
Mr. ArchbcId said there had been
many millions Of dollars invested IN
the company which was only nominal
ly capitalized. Mr.. Tilford said tha'
in the far Wesern territory 81 mar
ket stations were established by the
Standard Of California. and in the
Rocky mountain regions the Contin'
entail Oil Company. a Standard sub
sidiary had established 13S market
Ing stations. The effect OF the es an
l:shmen. OF these marketing stations
vas TO reduce prices 20 the consumer
Profit Of IFS Per Cent.
Or cross examination Mr.. kellogg
developed tba' the Ccntinen'ai vi.
COMPANY in 1906 made i15.!o per cent
IN It's capital stock. The purpose OF
the government inGuisitor was I'd
show that the prices charged for oil
products in the West were not war
RANCID Mr.. TIfori said I'll" pr"n'S
on all merchandise In the West were
higher and tina. oil sold no higher
:, .,ax en,r IND snzar In nICIOrt ION.