The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-11-26
Vice President of Standard Oil
Company Gives Some Big
Figures On Stand.
MAGNITUDE OF INDUSTRY
WAS NOT DREAMED OF
Increase in Value of Relineries
in Few Years Almost Be-
yOnd Belief.

NEW YORK. Nov. 25.-Detailcd in
formation of the magnitude and 81
versity of the Standard Oil com pany's
business was given by John D. Arch
bold vicepreSidcnt Of the company.
on the resumption of hrs testimony to-
day in the hearing of the federal suit
to dissolve the oil combination. Mr..
ArchboId asserted that il was the
Standard which, by eliminating the
iobbcrs and retailers, stepped in and
greatly reduced the price of oil to the
consumer. The hearings were adjourned
today after a brief session, until next
Monday. WHOM Nh Archbold will re.
sumo his testimony.
That even those closely identified
with tho Standard OF! In it's early davs
did not recognize IFS future possibilities
was brought ont today when Mr.. Arch
bold said that in the so 5 fears were
widespread that tina supply OF crude
oil would be depleted, and that accord.
lngly. he parted with some of his trust
shares at 20 and 50 cents on the dollar.
Much Of tho dav was spent IN spread
ing upon the record figures showing the
production and consumption of ell in
1882 and the present time.
Witness Causes Laughter.
Mr., Archhold did not think much of
the possibilities OF the mid id-continent
oil fields when they were discovered,
and caused a laugh when he recalled
that at the time he said he "would
undertake 10 drink all the oil they pro
ducc1 -
These oil fields produced 10000 bar
rels each day, and Mr.. Archbold said
he was mistaken in his early Judgment
Mr.. Archbold s testimony will PROB
ably last several days, and counsel for
the defense probably win place Viii
liam Rockefeller on the stand i'm
mediately afterward.
While public interest In the suit has
waned TO some extent since the com
petiou of John d. Rockefeller s testi-
monY, there are several important wit
uesses yet 10 be heard.
John =. Archhold was late in arriv-
ing today MoriJz Rosenthal Of
counsel for the Standard Oil company,
developed from Mr. Arcbbold's testi
mony facts regarding Jhe early market
for oil. In the early days, he said. the
lobber and retailer eXacted eXtortlon2te
profits. which caused complaint, and the
Standard Oil tried TO get closer TO the
consumer OIL was taken In bulk cars
instead Of barrels 20 the marketing cen
ters. where IL was retailed TO the
consumer in wagons. This increased the
oil trade and cheapeued the cost to the
consumer.
Technical Testimony.
Counsel for The company placed in
evidence reports showing productions
Of crude oil In various years.
The mid continent field, which IN
cludes Kansas, Oklahoma and cont;gu
Gus states, said Mr.. Archbold, showed
constantly increasing production till
the Standard started purchasing pToduc-
ing properties in 1859, when the "'shut
in = movement started,
: The witness said that in 1906 the
total crude production IN the United
States was l25, 5,t9S,936 barrels, Of
which the Standard produced l4,o52,lla
barrels, In 1906 tho total consumption
Of oil by the Standard Oil company was
64.95S.30l barrels.
Mr.. Archbold Said that in tho early
eighties there were constant anyities
that the crude oil would be exhausted.
~ must say. at the expense of my
own sagacity,H said Mr. Archbold.
that ! shared IN the same auxietjcs,
and | sold somc OF my Standard Oil
trust shares in the early eighties, after
the trust was formed, al IS cents on tho
dollar.
Mr., A1chbold laughingly said that he
had little opinion of the production ca
pacity OF the mid.continent field when
il was first discovered, and said:
~ said at, the time, that | would
undertake to drink all the oil that was
produced in that section
Value Of Refinories.
The value of the re6nories that went
into the Standard Oil trust in 1882
was $l7 100000, said Mr.. Archbold. and
the value in 1906 of the refneries in
tho compauv including manufactures
was SOL $50 500.
Mr.. Archbold spoke Of the policies
of the STANDARD with respect to the
local construction OF its relineries,
The manufacture OF these products,
said Mr. Archbold, played most i'm.
portaut part III the refining of oil. lie
said the Standard had employed the
greatest experts in chemistry TO dis
cover and improve the by-products.
An adjournment until next Monday
was then taken