The enterprise. [volume] (Harlem, Mont.) 1899-1926, 1908-12-09
ARCHb0LD Tells Of
buying COAST RIVAL
CAPITAL STOCK OF "PACIFIC
COMPANY" INCREASED TO
$17,ooo,ooo.
PRICE is $761oOO;
BIG BOOST FOLLOWS
Name Is Then Changed to "Standard
On"-Deaiinas Of Monster Concern
in Foreign Countries Told by
Firms Vice-President.

New York, Dec. 4.-Wnen the NEAR
ing in the governments suit to dis
solve the Standard Oil Company was
resumed Thursday John D. Archbold,
vice-president of the company, testl-
fed that the Standard purchased the
Pacific Coast Oil Company of California
in 1900 for $761,000. After that Its
capitalization was increased by sue
cessive stages to $17.0O0,000 in 1906,
when the name was changed to the
Standard Oil Company of California
Regarding the Barnsdale loan of
$7,5OO,000, Mr.. Archbold said there
was no contract of the loan in the
city, whereupon Mr.. Rosenthal, coun-
sci for the Standard, said he would
telegraph the escrow holders in Pitts
burg to mail the contract to the mas
ter of the hearings for inspection.
Texas Company Not His.
Mr.. Archbold said that as far as he
knew the Texas Oil Company was not
owned or controlled by the Standard.
The Texas company sold some of it's
output, witness said, to the Standard.
Mr.. Archbold's attention was called
to the cost of refineries put into the
trust in 1882, which was $4,000, 900.
This was the inventory value, said Mr..
Archbold, who was then asked if the
exhibits of the defense showing the
cost of refineries in 1906 to be $751;
100000 were not gross costs instead of
costs less depreciation. Mr.. ArchbOld
said it might have been an error of
bookkeeping, whereupon the account
ants for both sides began an examina-
ton of the exhibit.
Tells of Refineries.
Mr. Kellogg requested Mr.. Archbold
to make an examination of the exhibit
and have the question Of the cost of
reineries cleared up.
Mr.. Archbold said the first refiner-
les at the seaboard were not built by
the Standard, which early realized
their value in the export business and
took them over.
Mr.. Kellogg desired to know if it
was not a fact that in 1871, before
the Standard was formed, the per-
centage of export of refined oil to
crude productions was not greater
than to-day, when it is only 10 per
cent.
Memory Fails on Exports.
Il could not say" replied the wit
ness. certainly since there has been
an immense production of low-grade
oil which is not available for refining"
Moreover, Mr.. Archbold said, the
production of crude oil in the early
days was very small, and while per-
centage of export might seem large it
would not indicate the amount of bust
ness.
Mr.. Kellogg asked the witness if the
Devoe Manufacturing Company had
not sold oil in cans abroad before the
Standard purchased it.
Mr.. Archbold said the Devoe com.
pany did.
Replying to question, Mr.. Archbold
said the Standard had purchased oil
in Russia, but not now. The Standard
had interests in Roumania.
Occasionally Bites Russia.
The government counsel then took
up the question of tariffs on oil in
the various countries, and Mr.. Arch
bold said the duties in Russia were
just what that country chose to make
them.
IF they will let our oil in free they
can get their oils in free here. There
is no favoritism among the countries
where crude oil is produced. If France
has duty against American oils the
same duties apply to other countries"
Mr. Kellogg asked what were the
Standards advantages with regard to
the tariff, and Mr.. Archbold replied:
"All this talk of favoritism to the
Standard by the tariff is bosh."
Mr.. Archbold said that in spite of
the Russian policy of protection :we
manage to get little in on them &C.
casionally."