Los Angeles herald., 1908-12-01
FOREIGN LANDS
FEEL CLUTCH OF
BIG OIL TRUST
TENTACLES OF STANDARD ARE
FAR REACHING
ARcHBoLD TELLS OF IMMENSE
TRADE ABROAD
Products of Monopoly Organized by
Rockefeller Declared to Defy
Competition Throughout
the World
rBy Associated Press.l

nj EW YORK, Nov. 30.-Ihe deVeLOP-
IN ment of the Standard Oil COM
Az pany's trade in foreign fields, as
a subject of evidence in the govern
ment's suit to dissolve the oil COM
bination, gave John D. Archbold' vice
president, an opportunity as W.
ness to spread upon the recorus sOille
interesting facts. .,,-,.o+,,,or
oil refined by the Standard in 1905,
Mr. Archbold stated that 63 per cent
was sold abroad Export figures OF
other years further showed that the
Standard exported the major portloh
of its illuminating oil.
The line of testimony with regard 10
the immense foreign trade, lndlcates
that one of the defenses of the Sland
ard is to be this foreign trade, winch
the company will endeavor to snow,
brings a trade balance in FAVOR Oh the
United States.
Has 400 Competitors
This business, Mr.. Archbold went on
IN saw. was secured in the face OF the
competition of 400 foreign competitors.
Mr.. Archbold said products OF the
Standard reach every portion OF ene
world. and further declared that II was
the aim of the company to reach dl-
rect every consumer in the far east as
ir this country.
Testimony was given by Mr.. Arch
hold that during the period of the
STANDARD Oil trust the trutees poured
millions of dollars of the company
earnings back into the construction Oh
new refineries and pipe lines.
Resuming his testimony, John D.
Archbold vice president Of the COM
pany. was questioned about the Was
Keith and Chester agreement OF 1873:
Mr.. Archbold told of the s1gners OF
nd
held by certain individuals for the
benefit of the stockholders of the
Standard All property obtained was
held nv the trustees after the agree
ment had been made.
Tells of Agreement
Mr.. Archibold told of the trust agree
roents of 1882 and said that all the
shareholders of the Standard and the
beneficiaries of the Villas, Keith and
Chester agreement signed the agree
ment. -.
certificates were issued for each sin
gle share of Standard Oil company
SThe capital of the Standard was
49, 500, 000," said Mr.. Archbold, but the
plants and property were valued at
$40 900, 000."
Mr.. Archbold described in detail the
inventory of the Standards plants,
propertv and ali assets at the time of
the agreement.
All the plants, generally speaking,
after 1875, said Mr. Archbold, were
acquired for cash. He then gave the
reason for the formation of the STAN
dard Oil trust, saying:
Why They Did It
ut was done as a simple and eff
fective form of holding the property
neither the Standard Oil company of
Ohio, nor any other corporation could
effectually or safely, perhaps, hold the
property, which was widespread in
many states whose laws were restric-
tive of the rights of corporations.
1.-THE trusteeship was suggested as
a simple method of bringing together
the property and form a token of own
ership which would have a market
value and enable the owners to have
a more effective administration"
Mr.. Archbold testified that the Acme
Oil company of Pennsylvania was or
ganized to take over the properties Of
the Acme Oil company of New York.
Mr.. Archbold said the trustees of the
Standard Oil, after it's organization,
formed the Standard Oil companies of
New York and New Jersey to hold
properties which had previously been
held by the Standard interests.
Still the Same
The witness said the Standard OF
New York and New Jersey were still
the same companies as they were when
formed in 1882. The capital stock OF
the Standard Oil company of New Jer-
sey was $3,000.000 in 1882, but increased
in 1892 to $4,000. 600, and in 1899 to
$110. 900, of which $1O,000,000 was pre-
ferred.
The vice president of the Standard
said the trustees of the Standard Oil
trust organized and developed many
companies with money obtained from
the trust With some of the companies
mentioned were the Solar Refining
company, the Standard Oil companies
of Kansas and Indiana, and the Union
Tank Line.
Through the National Transit COM
pany the Standard interests construct
ed the Buckeye. Cumberland and other
pipe line companies.
Statements showing the companies
owned or controlled by the Standard
in 1890 were submitted in evidence.
Really Has Competitors?
Mr.. Archbold said the Standard met
competition in all the oil markets in
the world and submitted in evidence
a statement showing the names of COM