The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-11-20
JOHN i. is
GRIL.L.E:D BY
KEL. |. 0GG
''TruSt Buster Takes
Oil Magnate in
Hand Today.
ROCKEFELLER SAYS HE
WAO ALWAfO PkUoPEkUUS
Large Profits No Indication that
Business Is Hazardous,
Trust Head Declares.
POOR OLD STANDARD"
SIGHS RICHEST MAN
Tells of Forty Per Cent. Diyi-
dends and Profits of
S3OO,OOO,OOO.
"POOR OLD STANDARD"
SIGHS RICHEST MAN

v.
John ID. Rockefeller tock the witness
stand today before Federal Referee
Franklin Ferriss, ready for the Cruel
ling cross-examination of the govern
ment prosecutor, Frank IL. Kellogg.
The latter began his questioning. i'm
mediately after the court convened.
Attracted by the promise of battle
royal between the most successful trust
maker and the famous trust breaker
from the West, great crowd struggled
for admittance to the small room on
the fifth floor of the new Custom
House, where the hearing Is held
Long before the hour for the pro-
oeedings to begin the street in front of
rs Broadway was packed with persons
eager to see the richest man In the
world, who walked from the Standard
Oil Building to the Custom House, ac-
companied by his lawyers, John G. Mill
burn and Moritz Rosenthal.
Examination to he Complete.
Mr.. Kellogg in opening said that The
cross-examination would not be con
fined to the period between 1862 ana
1882, concerning which Mr.. Rockefeller
gave evidence on his direct examina-
tion. but would cover also subsequent
developments which were connected
directly with those of the period de-
scribed by Mr.. Rockefeller.
You have been prosperous since the
beginning?" asked Mr.. Kellogg.
"Yes."
DO you consider a business hazard
Gus that on an original investment of
s67 100000 paid dividends amounting to
$591 1,0O0,000 and had left a surplus of
$500 900, ,0O0?"
Il do not consider the amount of
money made determines whether the
business is hazardous or not" said Mr..
Rockefeller.
Agreement of 1882.
He was then asked about the trust
agreement of 1882 and whether the trust
certificates did not show a value of
$40, 100000 and that the stocks held un-
der the agreement had an actual yalue
of $55, 5,710698. Mr. Rockefeller said he
believed those figures to be correct.
stock certificates issued thereafter were
for stock dividends or for additional
properties acquired, but John g. Mil
burn, of Mr.. Rockefeller's counsel, OBJ
jected, on the ground that this was not
within the scope of Mr. Rockefeller's
direct testimony. Mr.. Rockefeller re-
piled: Il suppose so"
Mr.. Rockefeller said that a stock
liz of 4 CQc
and that the stock of the company was
tl.-A s9S, 900.
"Then up to the present time there
has been issued $3.50. 900 for cash or
property" asked Mr.. Kellogg.
II cannot tell"
'Well, that would make the total
value of cash and property turned in
exclusive OF money earned and turned
back into the property" Mr.. Rookie
feller said he did not quite comprehend
the increase of $13,O00.000 and BIr.
Kellogg discontinued this line of IN
quiry. He next asked: The record
shows that up to 1906 the ret earnings
of the company were S551. .9229 $50. What
was the dividend in 1902
40 Per Cent. DiyIdends.
I should say about 40 per cent"
"That was about $50 600, O0O?'
"Thnt would be 81 million In favor of
the poor old Standard" said AIr. Rocke-
feller. He added that the net earnings
for 1907 were approximately SSO,O00.e00.
Mr.. Kellogg again asked If he consid-
cred the business risky on such a show
ing and Mr. Rockefeller again retorted
that the profits did not determine the
risk. II was evidence that the business
was prosperous. He asseHted to Mr..
Kellogg's figures. showing that the
company earned 100000 900 from 1922
TO 1906. Adding the earnings OF 1901
would give a total earnings OF S57o,-
100000
"Ihen where does the hazard Of the
business come in?Y asked Mr.. keilegg
I'm the nrst place. since the nrst re-
flnery was built. more than fifty years
ago. we have been prepared at any
moment, day or night, 10 hear the fire
alarm We are dealing with very ex-
plosive product. Fires are constantly
occurring"
"But your profits were above your
fire losses, which have been charged to
profit and loss acconnt?''
"Yes. SIR
Mr.. Rockefeller said another risk was