Daily press. [volume] (Newport News, Va.) 1896-current, 1908-11-21
SIuPENO0Us PROFITS
OF STANDARD OIL TRUST
Cross Examination Of Rockefeller
bu Govs'nmenl Counsel Reveals
Astounding fac:s.
HALF BILLION N EIGBI YEARS TINE
Witness Stands Rapid-Fire Quesjon.
ing well, But Memory Faulty at
Vital Points-Maenatc Says Danger
Of Fire Makes Trusts Business HAx.
ardous-Hazy About Rebates.

Wy H5oSN i"tNu
NEW YORK Nov. 2".-For over
five huurs today ln,n u. Rock"sci!rr'
Witr,.SS tor the defense IN ne govern
lnrnt suit to dissoiv" IN" standard on
Company, faced an unc'ising hre Oh
ulcsti Ms from the Federal counsel,
Frank Is. Kellogg, ami when adjourn
mcnt va, taken until Monday. he wa
still hri' Z crosse Nalain"d on th''
charges that n" company IN its 'aiiy
DAYS accepted rebates 10 lnc disad
vantage of its rivals.
The enormous earning power Il the
oil continuation wa" sharply brOusht
cut in loIay's hearing when Mr.. KOCH
.!rllrr. after stating that the STANDARD
had paid diviI-nds aInountinc - $40,
Doo, C0r il. 1907 said il mad earned a.
much more. and that this was added
20 the. company's surplus, which wa
stated bS the government co ins"'
to be $3uU.oG0, 900. 1t was fart h"'
stated by Mr.. X, llogg hat the com
pany within the last = years had earn
I'd over half a billion dollars.
Memory Occasionally Failed.
The rapid-tre fl, errogations OF the
prosecutor were always met with un'
shaken impsrturbabilitv and readi
ness to ar swer. excepl when Al Mr,
Rockefeller explained: 1t Is quite
impossible for me to remember after
th'rty-fve years. l do not recall.
Mr.. Rockefeller was questIoned
closely regarding relates which the
Standard was charged with receiving
! but with the exception of TIE agree
ment with the Pennsylvania Railroad
which Mr.. Rockefeller explained gave
the Standard a rebate. because It ef
fected an equalization Of OIL ship
ments. Mr.. Rockefeller could not r.
call any other rebates. though he
thought il was likely that he might
have heard OF il at the time.
You have been, prosperous since
the beginning" asked Mr.. Kellogg. OF
Mr.. Rockefeller. when the latter rt'
sumed his testimony.
Yes
Trust Agreement OF 1882.
lie asked about the trust agree
, ment OF 1882 and whether the trust
certificates did not show a vallc o
SO, 900 900 and that the stocks he'd
under the agreement an actual value
of $55.7l0.c9s.
Mr.. Rockefeller said believed
the figures were correct.
The record shows that up to 1906
III. ret earnings of the company wer'
$751; .ao2.ao4 What was tie dividend
In 1902"
| Il should say abou: 40 per cent
"Tha: was about $4,000. 600"
! That woul,, be- a million in favo
tof Oh. poor old Standard" said Mr.
| Rockefeller. He added that the ne
earnings for 1861 were approximate!
T $50. Gn". p"".
$4,000, 900 in Seven Years.
| He assentGd to Mr.. ke!lOggS figure
! showing that the company earned
$500. OO,. 900 from 1889 TO 1906.
! Adding the earrings Of 1907 woult
: give total earning Of $4,000. 600.
! Then where does the hazard of rh'
! business come in''' asked Mr.. k"I
; ,.2-.
: In The first place. since the frs
. refinery vas bTilt NOR" than ART
| years ago. We have h""n prepared n
any moment. day CT night TO hear t"'
| fire alarm. We are dealing with
very "xpIosiv" ?roduc'. Fires are con
| star,iy occurring"
| But your profits w"rc ahcH" you
. fir" ,oss.s which have been charge
! TO profit and !"ss account.
: Yes sir
Pennsylvania Rebate.
; Mr.. kellogg then asked Mr.. Rcck"
! fe!l.r ai"It the STANDARD Oh agree
| men. wi :, the Pennsylvania Rail-Ja'
! In 49,. in which the PeErsytvani;
agreed to ray %ack ten per cru'. o
The f."i2h' rates which the S'aHdar'
paid.
| Tho vitaess said this asr"cmen
| followed The ra-" war between ID
Nor, hern and the Southern lines ant
that there was an agreement wherein
he vas 10 cTuaIize the amount o
'-p!: F., distributed b"'w""n tie differ
cni railroads
R-nIyirg &C. a qT"sti-n Sh"'hcr tn
| STANDARD was the on'v one 10 got tn
| r.hstr ne witnrys said ths' he great
ct volum" Of business given !y tn
8 1ndard vas given in part for TO-
| rebate and in these days II Vss III
custom for lsrg" shippers TO r"cci''
consider alton.
Bad Memory Again.
Did Won know Of the contra