Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-11-21

iSidcrpd the business risky on sucn a
! showing. and Mr. Rockefeller again
retortcd that the profits did not de
! tcrminc the risk. 1t was evidence
that the business was prosperous. He
Ia.,cnted to Mr. KellOgg's figures
showing that the company earned
I$49O. 600 600 from 1899 to 1906. Add
| ing the earnings of 1897 would give
| total earnings of $570,000,000.
"Then where does the hazard of the
business came in?" asked Mr.. Kel-
! logg
"In the first place, since the first
refinery was built more than fifty
years ago, we have been prepared at
any moment. day or night to hear
the firm alarm. We are dealing with
a very explosive product. Fires are
constantly occurring.
But your profits were above your
fire losses, which have been charged
to the profit and loss account
Yes, sir"
Mr. Rockefeller said another risk
was the peculiar construction of re-
filming machinery, which could be used
for no other purpose. one could nev-
er tell when he would awake and find
the crude oil supply exhausted.
Mr.. Kellogg then asked Mr. Rookie
feller about the Standard oil agree
ment with the Pennsylvania railroad
in 1877 in which the Pennsylvania
agreed to pay back 10 per cent of the
freight rates which the Standard
paid The witness said thts agreement
followed the rate war between the
Northern ana southern lines ana t3atl
tboro WAS an agraor,ont v.borah,, he
was to noraIize tbe auonnt of Freight
betveen rho different rail
roads
Mr. K.IIoge road tbs agreap,ort
which showed tbot If nro,idad the
standard was to shin ooo ooo bor-
rols of OH n ,.aar when tba oo,.a,.n-
mont COUNSEL asl5ed If tho otbeT raii-
roads baeido. rho pnrns,.,,an., n,aJe
iil,a a.oroon,o,,ts fo,. a to,, no, oo,,t -
botc Mr. pockofaIrer reforrod hin, IA
tb. r,., Who corductod III. ra,ntia-
ttors ponI,,irg to M EeIIoog..s
question obatber tn, standard 0uI
ronran,. was tho onl,. ono to gat mo
rebate tbe witness said the larger
-uantit,. of business sf,.n nv The
standard ras In nart resnoneihlo for
tbc rebato and tbat in tbosa da,,s il
was Tho custop, for 1argo SINNERS to
rcrei,,,. ooneidnratior
.yvo soupht to secure what an shin
pers then ana rov sock " said Mr.
RockefoIInr go ala moi rocall what
was O'Dav's connection win tbis mat
Ter hpt said MIR o,Dav was General
manager of tbc Columbia Conduit
COMPANY, which was purchased bv the
standard in 1877
Mr. KELLOGG then road 1et.crs of Mr.
)'Bav to AR Cassatt. of tbo ponnsyI-
.ania railroad. i'm which if was said
hat the American Transfer comnanv
received rebate of twenty cents
barrel from tbe Lake shore road and
+ WAS rcu1ested that the pennsvIy,ania
rive the same rebate. # was shown
N the tattcrs that the pcnps,l,,ania
lid so
"Dou't Won know that Mr. o,Dav
ma Mr. Cassatt both testified that tbe
american Transfer romnanv-
standard Oil-was not only paid = re-.
,atr or twenty conts q barrnI an its
,vn sbinments but q rebate on tho
of oil bv ipdruendent 20
inorteso" asked MIR Kollopr
"Ny attention has heen called IA
urb tostinonv said Mr. RoclxoroI- !
or
Mr. Rocllrf,II.r eotd that no u.as
PRESIDENT of the standard ana had
general direction of it at that fine
"Did vou know of the agreement [
yhcrcbv the standard was ia Obtain 5
urntv conts a barrel on sbinmarte %, !
,J ,,a,. have kpouyn of If eo,,er,ll,, !