Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1908-11-21

Mr.. Rockefeller Covered History Of
Early OIL Trade and Development Of
Companies That Grew Into the Pres.
ent Oil Trust-Attributes His Sue
cess to Loan Of s200o-Never Used
Coe-cive Measure to Guy competi-
tors eusiness--Has Engaging Man.
ner on the Witness Stand.
New York. Nov. 19-Relating his
story with the air of a country gentle
man OF kindly mien. engaging host
OF friends with incidents OF days long
past. John ID. Rockefeller. president
OF the Standard Oil company. though
for nearly ten years retired from the
active cares of company direction. for
over two hours reviewed the history OF
the early oil trade and the develop
ment OF the first companies that later
grew into the present so-called oil
trust Mr. Rockefeller was witness
| for the defense in the suit to dissolve
the Standard which Is being prosecut-
ed by the United States government.
and his appearance at the hearings
before former Judge Franklin Ferris.
the referee. brought large crowd to
the customs building.
The head of the big oil combine was
surrounded by an imposing circle OF
counsel. and when he began his testi-
mony he gaZed complacently upon a
swarm of newspaper men. behind
whom pressed close a throng of people
that filed the room. Mr. Rockefeller
| appeared al complete ease and when
John c. Milburn. of counsel for the
Standard. propounded his first ques-
ton the witness spoke out In full tones
as If he desired the most distant spec
tator in the chamber to hea". Then
in manner that indicted a pleasure
at what he was about to tell. Mr.
Rockefeller spoke of his start in the
oil business and how under adverse
conditions that business grew TO the
proportions of the Standard Oil Com
pany of Ohio, with its capitalization
Of sl.000000 Mr.. Rockefeller's eyes
sparkled In reflection on that early
financial organization and speaking Of
Its million dollar capitalization with
almost boyish enthusiasm. he said: "It
seemed vey large to us. who began
with only $4,000 in 1862"
4 Mr.. Rockefeller said that to cope
with changing conditions 1t was neces-
gary to obtain capital and purchase
/ the Cleveland companies which, the
mi d0v en-
borrow large sumo OF money by having
associated with IL many of It's recog-
nized friends. I'VE realized" said Mr.
Rockefeller that the larger company
decreased the cost OF production and
increased the volume of business. The
companies were purchased part in cash
and part in stock of the Standard
company"
I Did you use any coercive measures
TO secure these companies?"
None whatever" said Mr. Rookie.
Teller "They were all fair negotia-
tons | may say for myself that they
were the kind of negotiations | have
always used. have used no other"
Thus the proceedings lost in a sense
their official aspect because OF the en-.
| gaging manner which Mr.. Rockefeller
displayed in his answers which now
and then contained flashes of humor
A glow of health showed in Mr.. Rookie
fellers smooth-shaven face. and to in
quiring newspaper men he replied that
he never felt better
The development of Mr.. Rockefel
lers testimony. which carried him to
the organization OF the Standard OIL
Company OF Ohio. indicated that one
of the lines OF the defense will be that
the Standard company Is not the re-
suit of an aggressive policy TO obtain
a mastery of the oil trade. as charged
but rather the natural outcome OF an
economical development which the ex.
igencies OF the oil industry demanded
During brief recess Mr.. Rockefel.
Ter talked to the reporters on the
Standards growth. saying:
What n wonderful thing II all has
been-the growth OF the business. II
all seems like dream to me. and here
! am accused of doing the very wicked
thing of selling good article at a
lower price than any one else.
This testimony brings back to my
mind so clearly early days In Cleve.
land where we were all friends and
neighbors together. How well I re.
member that day in Cleveland when
went into the bank of T. p. Handy
who afterward became one OF my dear
est friends. ! wanted 10 borrow money,
but ! didn't have any collateral nor
any one TO endorse my note. told him
what ! wanted to do with II. and then
he asked me how much I wanted I
need $4,000 ! said. and got H. To
that loan attribute whatever success
| have had In life since"