The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-11-21
BIG FIGURES
NECESSARY TO
SHOW PROFIT
I'm TO 1906 the Net Earnings OF
the Standard Oil Company
Were S551 ,922, 904.
NEARLY FORTY MILLIONS
OF DIVIDENDS IN 1907
cposs.exAMINATIoN OF JOHN D.
ROCKEFELLER BRINGS OUT
AN ARRAY OF FACTS.

.44A++ALA+%%<%+%N*<+<&%
N-eu- work Nov Z0-FOr more man
= five hours today John D. hocHeieIlS.'
vritness for the defense IN tiit soh
-grnerr suit TO dissolve the Sldiu-
"a company faced an unceasins
On nf questions from the Iederdl
: cnuusel Frank B. Kellogg. an1 M NI
adjournment was taken uhIil 1Hon-
da, the head Of the oil COMBINE va
.in baiuo crOss-eXamined on the
: charge that the company IN us carry
1-,-s acrepted rebates to the dlSiu-
a vantage of its rivals MI. IN h' s.Ah
feiIes's er0ss-eXamination viii proD-
80 NOT be concluded until late y
faesday. AID Mr.. Kellogg made IL =
I,rou-u fhaC he would question AT.
Rockefeller on every uetaN u N"N
rnroUanv's business
T'Se enormous earning power OF the =
!. oil combination was sharply nrouSht
at iu t0days hearing when MT
: Standard had paid dividends amount,
me to Sl000O0O in 1877. said II had
= earned as much more and thar TINS
,-as added 10 the company sur
riue which was stated by the gov y
s-,-oaut's counsel To be S30S.pOt.voO =
IL vas further declared by Mr.. hei-
. logz that the company Wittnh tne
ia.f eight years had earned nearly
+ half "a billion dollars
AA&&A%4%&%AA%+%@<%*<+<<<<<
View York Nov. @.-The Ast quarter
century Of the wonderful development of
the standard oil company probably VIII
not be touched upon at all in the testt-
monv of John d. Rockefeller. the maker
~ the great corporation. in his test-
mony in the governments suit 70 dissolve
the so-called trust Jnul moment nc,
fore the adjournment Yesterday there mao
beeu no intimatiUn that Mr. Rockefeller $
direct narrative of his connection with
the oil industry from 1860 until the pres
ent time would be Interrupted He mad
told In greatest detail of the early days
of the business and with almost equal
explcltness Of the various steps in his
eompany's growth and development from
that tirce until 1885,.
Al that point however almost without
warning his counsel called Mr.. Rookie
Teller from the stand and announced that
tie direct examination o: the witness had
been completed. The disappointment that
-ame 10 those who had been following
jhe story of Mr. Rockefeller. which came
with the sudden termination OF MS un-
finished narrative. was somewhat tenn
nercd by the announcement by the stand
ard Oil LAWYERS that the history OF the bis
corporations later years would be re-
lated by John ID. Archbold-
Mr.. kello5g's Questions.
Mr.. Rockefeller was again on the wit
ness stand when the hearing was resumed
today. His cross-eXamination was al once
begun BY Frank l.. Kellogg, the specia
assistant district attorney.
Mr. Kellogg said the s-eXaminatioT
would not be confined 10 the period be
tween 1852 and 1887. concerning which MIR
Rockefeller gave evidence in his direc'
examination but would cover also sub
sequent events which were connected di
recty with those of the period covered by
Mr.. Rockefeller.
In response 10 questions about the haz
10
10 the possibility OF failure of supply, Mr.
Rockefeller said that the production OF
crude oil in the Pennsylvania district haC
steadily increased from 1862 70 1900
Mr.. kellOgg read figures from an Off
cial report showing that the Penusylva-
uia field reached its highest point in pro
ducton in 1870. Mr. Rockefeller denied
that the supply of crude oil had always
been ample and asserted that it had fluc-
tuated. but that the supply is larger now
than when he ives actively engaged in
business He was asked about the de
Nclopment of oil fields in Ohio and Okla
hOma, but said that he knew little about
them. as they had been actively worked
since he retired from business He de
scribed the drilling and production OF OF
as OF the character of "A mining bust
ness lie said il was the policy OF hi
company 20 pay for its oil at the wells
and that the larger part Of the oil il re
lined was purchased from the producer.
always Prosperous.
You have been prosperous since tn,
'es,nnmg' asked Mr. kellogg.
Yes
100 you consider a business hazardOu
t.,al on an original investment OF 67.OOo.
w pald dividends amounting TO S19lNo0.Qo
ana mad left a surplus Of $1,000 O002"
4 don't consider the amount Of mone-
made determines whether the bushes
vas hazardous or net" said Mr. Rookie
teller
lie was then asked about the trus
agreement Of lSS.. ana whether the trus
certificates did not show a value Of
vnNo, and that the stocks held unde
me agreement had an actual value Q
Nl.l06S
Stock Dividends.
AR Rockefeller said he believed thes
figures 20 be correct Mr.. Kellogg the
asked whether the stock certificates is
sued thereafter We're for stock dividend
2r for additional properties acquired. bu
Jnnn g. Milbum If Mr.. BOOKSELLERS cour
sci objected on the ground that this Wa
nor within the scope Of Mr.. Rockefeller
a.reet testimony Mr.. Rockefeller II
I suppose so
Nuer Mr. Milburn mad again obiecteC
Continued on Page 2.