Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-01
ArchboId's Testimony Shows
Great Corporation Success
fully Completes With Four
Hundred Companies Abroad,
PRODUCTS REACH ALL
PARTS OF THE WORLD
Claim Made That Company'S
Business AIole Brings Trade
Balance in Favor of United
States.

IBy Morning journal Special Leased Wirel
New York, NOV. 3o.-The develop
ment of the Standard Oil company
trade in foreign fields has been the
subject of evidence IN the govern
ment's suit to dissolve the oil COM
bination and gave John d. Arehbold,
vice president, an opportunity as Il
witness to spread on the records,
some interesting facts. OF the total
amount of illuminating oil refined by
the Standard III 1906, Mr.. Archbold
stated that SO per cent was sold
abroad Export figures of other years
further showed that the standard eX-
ported the major portion Of its illu-
minating oil.
The line of testimony with regard
to the immense foreign trade indi-
Gates that one of the defenses the
Standard Oil is to make is that foreign
trade, which the company will en-
deavor to show, brings trade balance
in favor of the United States. This
business, Mr.. Archbold went on to say,
was secured in the face of the COM
petition of four hundred companies.
Mr. Archbold said that products Of the
Standard reach every part Of the
world and further declared il was the
aim of the company to reach direct
IL every consumer in the far east, as
in this country.
Testimony was given by Mr.. Arch
bold that during the period of the
Standard Oil trust the trustees poured
millions of the company's earnings
back into the construction of new re-
tineries and pipe lines.
Resuming his testimony today in
the governments suit to dissolve the
Standard Oil company, John ID. Arch
bold, vice president of the company
was questioned about the Villas, keith
and Chester agreement of 1879, MT
Archbold told of the signers of the
agreement and of the property held
by certain individuals for the beneht
of the stockholders of the standard.
All properties obtained We're held by
the trustees after the agrcemnt had
ben made. Mr.. Archbold said the
agreement was made as simple
method of holding property IN the
interest of a common owneship.
THE capital stock of the standard
was $4,000. 900" said Mr.. Archbold
but the plants and property were
valued at $40, 900, 600"
Mr.. Archbold described in detail
the inventory of the standard
plants, property and all assets al the
time of the agreement All plants
generally speaking after 1879, MI
Archbold said, We're acquired for caSh
He then gave the reason Tor the TOT
nation of the standard oil trust, say
ing:
1T was due as a simple and effec-
tive form of holding the property
We were advised by counsel thai
neither the Standard oil company OF
Ohio nor any other corporation could
effectually or safely, perhaps, hoIt
the property, which was widespread
in many states whose laws We're re-
strictive of the rights of corporations
The trusteeship was suggested as {
simple method of bringing together
the property and form a token q
ownership. which would have a mar
ket value and enable. the owners e
have Il more effective administration.
Mr.. Archbold said that the stoci
of the Waters-Pierce company which
had been owned by the standard ha'
been transferred to the Waters-P Pierce
oil and was now owHed by that com
pany.
Mr. Archbold said that the trustee
of the Standard Oil after its organt
zation. formed the Standard oil com
panies Of New York and New Jerse,
to hold properties which had Prev
ously been held by Standard interests
The witness said the Standard com
pdnlrN OF New "a n anu ~
were still the same compares as thos
formed in 1882 The capital stock %
the standard Oil company OF New
Jersey was SS,0O0.0O0 in 1852. bu
increased in 1892 10 Sl0O,ooO,OOO am
i'm 1889 to $110.000.000. Of Whicl
$4,000. .0O0 was preferred.
The vice president OF the Standar'
said that the trustees OF the StahdaT
OH trust organized many companie
with money obtained from the trust
With some OF the companies mention
ed were the Solar Refining company
the standard oil companies Of Kan
sas and Indiana and the Union Tan
lire.
Through the National Transit Gem
pany the Standard interests construct
ed the Buckeye. the Cumberland an
other pipe line companies state
ments showing the companies oWne
or controlled by the Standard In lSs
were submitted in evidence.
Mr. Archbold said the Standar
met with competition ON an the o
markets in the world and submitte
in evidence a statement showing tn
names OF competitors outside the I'm
ted States. There were four hundre
companies competing with the stand
ard for the worlds market, said Nj
Archbold. and OF thcse the capital d
253 companies was not known. tn
total capitalization Of l4t foreig
companies was Sa74.941.1Sa-
or the total amount of illumiuatin
OH refined In 1895 by the Standar
n