New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-11-26

frst instance exaeted an extortionate proh' VI
an exorbstant profit" he said. inen was
also true that the retailer exacted an exoroltant
prost ard Sill this resulted In complaint the
country over to the price which the COLI
sumner was obliged to pay"
All the improvements made by the company.
Mr. Archbold said, were to extend the uaoe a',u
increase the consumption OF oil. and 10 90 TINS
as economically as possible Inc e1hioiI CIV
ing the petroleum production was presenieu
It was prepared by Devid T. Day and W. L.
Griswold. of the Department OF aiming anu
Mineral Resources. The witness gave the hs
ures in the report by districts. and ADDED them
to make the total for the years from Iooo ~
January l. 1906. In connection with thls no
gave the Standards production of the total with
the consumption.
on, CRAZE CURSE OF REFTNERs.
The oil craze, Mr.. Archbold ssid, was a cusSe
OF the refiners Many more wells were ulilieu
than necessary and territories drained ne was
in the Pennsylvania neld when the craze was
Of IT'S height. The result of the overplus OK
wells was a dearth OF the supply in 1851 "hen
he with others. felt discouraged by the OUT
look
AT the expense of my sagacity.' he saldr /
sold Standard Oil Trust shares just after slgn-
ing the trust agreement OF 1882 for 40 ana ov
cents on the dollar. ,
He then told of the total consumption OF OH
by the Standard for refining purposes IN 1910
as having been "a, 95S. 361 barrels. as against
16 $50 593 in 1892 The Standard went INTO
production ON its account that year to offset the
possibility Of q producers agreement WHICH
might affect the supply. Since 1882 the COM
pany built refneries at Marcus HOOK Fehn''
the Solar Refining Works, st Lima, Ohio; one IN
San Francisco the Whiting Refinery in 1ndi-
ana the Sugar Creek Refinery near st. Louis
and one at Neodosha, Kan. That, with the re-
dnery improvements in the properties owned IN
1882. brought the value when last computed te
S57, 6S9, $50 10 The new refineries were always
built in the best supply and distributing sec
lions The Bayonne refinery, the largest in the
East, had capacity of 100000 barrels.
The by-products were next brought out IN the
testimony Expert chemists were always In the
employ of the company. with the result that
there was now practically no waste The prod
ucts were ali the best Of their kind, the witness
said, and, mentioning vaseline. he said that the
armies OF all countries were large users OF the
Standards product
Mr. Rosenthal said that he about TO take
I'D the formation of the trust Of 1882, and as
that would take much time. he suggested ad-
journrnent until Monday morning at IL o'clock.
Mr. Ferris agreed to this. The hearings will be
conducted right along, with the expectation that
on December T. when the court meets III st.
Louis the time limit given the Standard to get
in it's defence, December 1. will be extended
month. The government. 1t was said YESTERDAY,
will require another month to complete Its case,
SO that the time for the argument will be es-
tended from February until the latter part Of
March or the first weeks in April
ARCHBOLD HOLDS 5000 SHARES
MI Archbold'a reference 10 his sale OF Stand
ard stock IN 1882 caused an effort to be made
TO learn Just what his holdings now are. 1t
was learned that in 1879 Mr.. Archbold had three
hundred shares Of Standard Oil stock. He must
have bought back those he sold, for his holdings
to-day, according to the records. are the SIX
thousand shares received when the New Jersey
company was organized, twenty times the origi-
nal holdings At par value they represent $780,
0Oo The $40 dividend paid on each share makes
the income s24O 600. The stock is worth to-day
s37bO0OO John D. Rockefeller holds 24I,6s2
shares valued at over 125000, 900 now.
The Standards vice. president, after adjourn
ment. spoke of the variety Of by-products and
said that so far no food could be included in the
list. He did not believe that one would be found
Just yet. He referred to the many suggestions
Of food experts. and one OF the bystanders
asked him what he preferred to eat. He re-
marked tDat an expert HAQ hhiu tA<i] phSA"h eoh
cakes and sausages were an ideal combination
He. Mr. ArchboId liked them, but he did not
say that he believed with the expert in his fur
Their findings, ihat the eating Of that combina-
ton would improve the world
The referee in the suit. Franklin Ferris, had
luncheon yesterday with Commissioner Bing-
ham on the police boat Patrol. before taking a
train for ST Louis, where he will eat his
Thanksgiving dinner with his family this even
ing. He will return on Sunday. Mt Kellogg will
spend to-day at Lakewood. where he will play
golf, and MI. Rosenthsl, the Standards counsel,
left last evening for Chicago to spend the time
intervening before the continuation Of the hear
ing with his family.