The evening world. [volume] (New York, N.Y.) 1887-1931, 1908-11-24

1889 ACKNOWLEDGEMENTS. 1851 miles
1899 ......................... H.6SS
1908 Observation-Disclosures. 5+,6l6
Has this growth represented con-
struction or purchaser was asked.
IAN construction except the Crescent
Company line, 300 miles long"
"Where does your. pipe line system
now extend?"
from the oil-producing sections OF
New York, Pennsylvania, West Vir-
ginia. Kentucky. Ohio, Indiana, Illinois,
Kansas. Oklahoma and the Indian
Territory, to New York. Philadelphia.
Pittsburg and Baltimore. there being a
continuous service from the Far South
west to the Atlantic seaborad. In addi-
ton we have an independent system of
pipe lines in California.
"Is an Investment in pipe lines al
ways hazard?'
ut is-the uncertainty of the output
makes the industry always one of great
hazard. l recall the Cherry Grove field
in Pennsylvania, which inside of sixty
: days was producing 10000 barrels day.
We went ahead with pipes and tank
age and machinery for business Of
i that MAGNITUDE Within ninety days
the output fell off to $40 barrels day
and 1t soon ended altogether. We aban-
doned the field. removing our equip
ment at heavy loss
Are there any purchasers Of crude oil
besides Standard OIL in the oil fields?"
"Oh, yes. That is the case now and
has been the case during all these years.
These others buy in competition with the
agents of Standard Oil. Even after put
ting his oil in our pipe lines the holder
OF the certificates has the right to sell
his oil to any one he pleases. and upon
notification we will deliver his oil at one
Of the stated delivery points"
Praises the Oil Trust.
Mr.. Archbold. on the request of his
lawyer, then spoke at length of the
great and satisfactory" service of the
Standard Oil, calling it the most per-
feet system for handling this commod-
ity anywhere in the world" He also
vigorously denied the charge that the
Standard arbitrarily" fixes prices for
crude oil
We pay the highest price the mar
kct will justify" he said. We are in
receipt of daily, messages from all over
the world regarding the probable de-
.sand. We take into consideration also
the probable yield in the fields and in
the refineries, and on these things and
The various other elements that must
be taken into account we arrive at the
fairest possible basis Of price.
"On the Oklahoma field. for example,
the crude Is OF so poor grade that,
except for fuel and large commercial
purposes. no real market has yet been
found for H."
Mr.. Archbold went on to say that the
competition of foreign old fields was
necessarily a factor.
More oil was stored to-day he said
than ever before in the history of the
business, there being fully 5000, 900 bar
rels held in reserve.
He believed the Standard Oil had
fully SEQ 0OO. goo invested in tanks alone
at this time. The constant danger Of
fire. ne said, affected the market
Having covered every possible phase
of this aspect Mr., Archibald proceeded
10 tell about railroad facilities in the
early days. II was evident that lie
meant to go into this subject exhaust
lively. In fact, Mr.. Essential admitted
that Mr.. Archbald's direct examination
would probably take three days, or
longer time than was required for Mr..
Rockefellers examination in chief
He tod how lie framed piping rates
when he was an independent. Il did
the best ! could according to my ca
pacities," said Mr. Archbold, and af-
ter | entered Standard Oil / found |