Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-10-29
RIVAL COMPANY 70
FIGHT OIL TRUST
TEXAS CONCERN INCORPORATES
WITH ENORMOUS CAPITAL
OF $4,000 900.
WILL COMPETE WITH TRUST
IN OIL PRODUCT BUSINESS
Company Backed by Resources Of
Texas Oil Fields-Lands Leased for
Facilitating Business in Illinois
Lease Is for Fifty Years-Inoorpo !
rated in Illinois.

Chicago. Oct, ga new enemy :
arisen at last to do battle Wit :
Standard Oil Company com Z
declared to be backed by almost s.A
limited capital. with. the resources of
the Texas oil fields and the advantage
of Chicagos railroad and water ship
ping facilities.
The Standard Oil Company's new
competitor is the Texas Company.
which filed It's certificate OF incorpora-
day. This document showed that the
corporation was capitalized at s3s,000.-
900. which sum is involved In the i'm
pending struggle to get large slice
monopoly
First Lease 200 Acres.
The new concern leased 200 acres
from the drainage board near Lock-
port nearly a month ago. The lease was
negotiated as quietly as possible In
order that the corporation might get
its new plant fairly launched and doing
business before the Standard Oil inter
ests learned of the project
But this effort at secrecy. it was
learned yesterday. was not sufficient
to throw representatives of the so
called oil trust off the track. Within
forty-etght hours after the lease had
been signed an emissary of the stand
ard Oil Company visited the office OF
the drainage board In the American
Trust and Savings Bank building
called upon President r. r. Mccormick
and asked what does 1t all mean?"
Simply that the drainage board has
made a most profitable lease" re-
piled Mr.. Mccormick
But what business is the new com
pany going after? What is 1t going to
do?" persisted the Standard OIL man
Forced to Go Eisewhers.
"Youil hgre to go to the officers of
the company to get that Information.
I'm only handling the affairs OF the
drainage board" replied Mr. McCorn :
ick
Altho the oil man put numerous
adroit questions that was as fay as he
got in the matter Of Information. SO
he took up the investigation elsewhere.
The oi! concern, at least for the
present will not endeavor to get the
Standard Oils Kerosene business. Its
activity deals chiefly with crude oils.
such as are used on streets. in factor
les and for industrial purposes. This.
however is a most important feature
of the Standards business
The Texas Company numbers among
its hackers John Lambert. the Joliet
capitalist. who is Interested also in the
steel industries of that city, and John
w Gates of New York Both. 1t Is
declared are taking deep personal in
terest in the enterprise.
At 100 Per Cent Rental.
The lease under which the Lockpor.
plant will be operated, from the view
point of the taxpayers. is most profit
able. The land. hat was purchased at
the rate of 500 an acre by the irain-
age board. has been rented by that
body at 800 an acre a year. The earn-
ings in consequence will be an even
100 per cent Il year
The lease IS for fifty years 1t in
cludes q revaluation clause. operative
at the end of twenty years 1t pro-
Nidcs that all improvements. such as
factories and other buildings, will be-
come the property of the drainage body
at the expiration of the lease