The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1910-03-11
STANDARD FILES
ANOTHER BRIEF
ANOTHER GROUP or LAWYERS
COME FORWARD FOR THE
BIG OIL COMPANY.
ARGUMENTS ON MONDAY
Paper Filed Yesterday Defends Pro-
fits Made by the Standard
Goes Into the Facts"
In Detail.

Washington, March 10. Although
the brief "on tnc part Of the ap-
pellants' was already on fi.e In the
supreme court. second group Of
lawyers of the Standard Oil Com
pany today presented to the court
an Independent defense of that organ
'ization.
Today's defenders are John q.
johnson, of Philadelphia, John G.
Milburn and Frank L. Crawford, III
New York.
The first defense was prepared by
Pittsburg counsel, On Monday the
court will hear oral arguments on the
decree Of the circuit court, dissoivng
the Standard Oh Company Of New
|Jersey
The eastern cohnsel went moro
fully into the facts" in the contro-
versy than the Pittsburg attorneys.
Particular stress Is laid on the ser
tion that the record shows no un-
reasonable advance In the aevrage
prices Of Standard oil
What the governments position
amounts to- they say. is that the
actual prices for refined oil should
have stood stlll, while all other prices
were rising. including the prices OF
Ian commodities used in the manufae-
ture Of oil and chiefly, the price OF
labor.
| But suppose 1t were otherwise:
there Is no principle OF law OF of po-
IticaI economy which requireres a
manufacturer to give away profit
which he can make by economics In
manufacture.
i The governments method Of esti-
lmating the profits the Standard Oil
Company had been making IS de-
nohnced in the brief as "unsornd in
law" and as contrary TO business
Iprinciples and facts of human expert
lence."
Considering only the rate OF
Iproft. which for seven years, from
1 1900 to 1906. averaged less than 25
per cent on the total net capital In
vested year by year in the business,
that rate Of profit is reasonable one
for great manufacturing business.
Including the elements OF risk. which
characterize the oil industry, ns-
lpecially where, as here. great pro-
portion OF the profits are derived
rom the business with foreign eoup-
tries outside OF the protection OF
| american laws and in competition
with manufactures and merchants of
the world
1T is believed that few, If any.
arge manufacturing enterprises In
Ithis country. at least the prosperous
years. make less than 35 per cent
PROFITS per annum when shch profits
IRE reckoned upon the actual cash
value of net tangible assets.
The success of the Etandard oil
Company's business, broadly con
silered, is due TO extraordinary ofre-
sight energy. and boldness and to
the policy of investment on an i'm
mense scale displayed and carried
out In every branch of the petroleum
industry. This industry may be an
Ialyzed under fo,ir great heads:
'Insuring an instant and adequate
supply of crrie oil: getting crude oil
to the rehneries; maintaining and
employing the latest ami most eco
luomical refining method; and deye!-
loping and extending the markets. do
Imestic and foreign. by improved mar
keting methods"
The charge that the Standard on
Company. throgh the control Of pins
lines. have monopolIzed the Purchase
and transportation Of crude oil. is de-
Iclared to be "entirly unsupported by
record"