The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1908-12-02
IMMENSELY or THE STANDARD.
ARCHIBOLD TELLS OF FOREIGN
TRADE.
Some Interesting Details-COmpany
Now Exports Bulk of Its llluminat-
ing Oil-ReasOn for Forming Trust.


New York, Nov. 30.-The develop
ment of trade of the Standard Oil
company in foreign fields, as sub
ject Of evidence in the governments
suit TO dissolve the oil combination,
gave John d. Rrchibold, vice president
Of the Standard, an opportunity as a
witness today to spread upon the rec
ords some interesting features OF the
| Standards business I'm foreign coun-
tries. OF the total amount of illumi-
Mating oil refined by the Standard In
1906, Mr.. Archibold stated that 63 per
cent. was sold abroad. Export figures
OF the other years further showeo
that the Standard exported the major
bulk Of its illuminating OIL
The line of testimony with regard
TO the Immense foreign trade indicates
that one of the defenses Of the Stand
ard is that the present combination
makes it possible to obtain this for
eign trade, which. the company Will
endeayor to show, brings a trade bai-
ance in favor of the United States
This foreign business. Mr.. Archboio
said. was secured in the face of the
competition of 40 foreign companies
:, He said that products Of the STANDARD
reach every part Of the world ane
further that it was the aim OF tn
company to reach direct every con
sumner in the Far East. as was dom
20 In this country.
Testimony was given by Mr.. Arch
bold that during the period or IN
Standard Oil trust. the trustees poure
millions of the company's earning
hack into the trust for the construe
:. ton of new refineries and pipe lines
Mr.. Archbold. in giving the reaso
for the formation of the Standard
he trust, said:
"It was done as a simple and e
fective form of holding the propert
-, We were advised by counsel TN
- neither the standard OIL company
- Ohio nor any other corporation cou
=, effectually or safely, perhaps, hold t
property which was widespread
many states, whose laws were restri
-. tive of the rights Of corporations. I
.,u trusteeship was suggested as srmI
-, method of bringing together the pro
erty and from a token Of ownersf
no, which would have market value
, enable the owners to have M
70 effective administration"
The witness said that the trust
Of standard Oil trust, after its org'
!. ization, formed the Standard OIL CO
panies of New York and New Jers
to hold properties which had previo
ly been held by Standard intere
y The witness said the Standard &C
panies of New York and New Jer
were still the same companies OF IN
formed In 1882. The capital STOCK
the standard Oil company Of New
Van sey was $3.OOO.OO0 In 1882. but
tents increased in 1892 to $10,000,00O.
car in 1899 to $4,000. 900, of which ;
the OOO, 900 was preferred.
held There were 400 companies com
dual ing with the standard for the wol
the market. Mr.. Archbold said, and
the these the capital of 253 companies
ming not known. The total capitalize
m Of of 147 capitalized foreign compa
Z the was $274.915.1S5.
car Mr.. Archbold told Of the difhcu
soon in the Introduction of ref1ned
letec- abroad. There was much compel
,,nci- from Oil interests Of the Dutch In
vas a said Mr.. Archbold. and the tas
ch az maintaining the business in the 0
odery was very difficult.
" the "Our state department has n
q silk us much" said Mr.. Archbold. I'm
coat we have been better treated with
awayl erence to our foreign business
with our own business at home
There are 123 independent con
,IAI,. tive refineries OF oil in the COZ
said Mr.. Archbold.
efraud An adjournment was taken un
ndal. morrow.
Haasl -----