The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1908-11-20
Business Has Added to Its
Earnings $500, ,OOO.o 900 and
Has a Surplus of $780,
100000.
BUSINESS WAS A HAZARD.
SEVERAL TIMES DURING COURSE
OF TODAY'S HEARING, OIL
MAGNATE JOKES AND LAUGHS
HEARTILY.

New York. Nov. 20.-Great John d.
Rockefeller, smiling and serene. was
put on the griddle today by the fam
Gus trust buster" Frank b. Kellogg.
to undergo a cross-examination in the
effort to dissolve the Standard Oil
company of New Jersey, but Rockefel-
ler's high priced lawyers appeared 10
have stolen the march on kellogg by
closing their examination yesterday at
the point which led up to 1882. when
the present gigantic monopoly was
formed with the Standard Oil Compa-
ny of Ohio as the backbone. This,
however. did not prevent kellogg from
bringing out in a general way the
many potent things kellogg estab-
lished the fact of the immense increase
in the production as years kent by and
the enormous profits reaped, and asked
John d. if he considered II a hazard
Gus business which had Increased its
capital stock by sixty millions and ad-
ded to it's earning more than $5o00 0o0.-
600, besides having surplus of $500
coo COO. but Rockefeller did not con-
slider that these questions determined
whether a business was a hazard or
not
Rockefeller's lawyers interposed
many objections TO the questions. but
| they were generally overruled John
ID. proved himself rady arithmetician
] in calculations In millions, but was not
closing thei rexamination yesterday at
some of the details of the big transac-
tions. Rockefeller admitted the div
| fdend in 1907 was about forty per cent
or $4,000. but said this might be
million or so in favor of the poor old
| Standard company" which elected
hearty laugh in which Rockefeller APP
preciated his little joke By joining in.
When asked If he considered such
business risky. another general laugh
was INDUCED in and John said the
question of profits does not determine
hazard of business.
1 Rockefeller launched into lengthy
oratorical effort, stating that since the
very first refinery was built. they
were prepared every moment day and
night 10 hear fire alarms which might
wipe them out of existence, because
of extremely explosive nature OF pro-
duct. but admitted. on being ques-
toned. that all profits had been over
and above fire losses as they were ex'
tremely conservative In keeping ac-
counts. because of the possibility oil
waking up some fine morning and
finding all their oil gone.
Such contingency had not arisen
however and Rockefeller said land
am mighty grateful for it, which stir
red up merriment.
Rockefeller became little nervous
when the Standards relations with
the Pennsylvania railroad company
came up. involving the alleged rebates
and he answered all questions hest
, tatingly. Rockefeller recognized an
agreement which Kellogg produced
covering the payment of ten per ceni
to the oil company out of the amount
of freight charges realized in the con
sideration of certain large sized ship
ments. which it stipulated was not r.
r be the case TO any company not ship
ping as large a business. This wal
because the Standard was the bigges
shipper.