The Washington times., 1914-05-25

pared to the whole country. II is the
biggest, most generally interesting,
of every product and by-product, OF
all the mineral industries. And yet
familiar with the conditions. the
laws, and the usages under which II
is produced and dealt in is confined
to populations within those few mar
row little streaks and spots which mark
the diIninutive proportions OF the oil
countries
Also. oil is a new element in the
country's commerce. 1t keeps new by
its continuous and wonderful growth.
It's production has doubled three times
since 1880. and its consumption has
grown likewise. Its uses. traced to
the ultimate. reach the interest, COM
fort. and life OF every person in the
whole land; yes, OF the civilized world.
Now q monopoly dominating an in
dustry of such vastness may, II is plain.
be the source and cause OF wrongs
which affect all. TO the very limits OF
the consuming markets in the one di-
rection and to the roots OF producing
and all its kindred and allied indus
tries in the other. The monopoly in
oil has exerted its power consistently
domination OF the business and the
closing OF opportunity for all others
except SO far as its own caprice or
interest ma dictate.
Control Drifts to Standard
I'm the twenty-nine years Of the exist
ence Of the Standard Oil Company as n
trust. prior to it's dissolution. namely.
1882 to 1910 Inclusive it's total dividends
paid TO stockholders OF the trust was
s70e, IS, So. In the same years the az
gregate value OF all the oil produced
in the United States, based upon the
price fixed by the monopoly and paid
for oil at the wells, was SI,675,. 81, zoo.
That is 10 say, that in those twenty
nine years the profits actually paid By
this one company on a capitalization OF
some S9s 900, coo were a little short OF
half Of the total value Of the petroleum
OF the whole country. There would
probably be no dissent to statement
that the aggregate OF investments by
independent producing interests in pro-
ducing oil in any of those twenty-nine
years was vastly greater than $4,000 GOv.
II is extremely doubtful that In those
years oil producing itself returned to
those who pursued II independently even
the full total of what they put into The
business.
In those years. also. beginning with
1887, several hundreds OF millions OF
dollars worth OF oil producing prcps.-
ties were purchased by the monopoly
in all the oil fields. This enlarges tn.
story OF profits and also points one
of the leading effects of the power OF
the monopoly over Independent pro-
ducing
Because, all but invariably, those
properties acquired by the monopoly
were purchased from their developers
a prices fixed by the monopoly itself
and prices which could not have been
agreeable to their sellers were they
not in situations which were general
~ desperate And a general statement
Of the most prevalent fact in all oil
producing regions would be that therA
is a constant drifting OF the choicest
producing properties. discovered and
developed by the wit and the energy
Of others into the possession of this
monopoly.
For every reason in common sense
and law that iustifies the keeping OF
transportation Of coal. lumber. or any
other article OF commerce apart from
its production. pipelines should be d.
vorced from both the producing and re-
fining of oil.
Urge Rates Be Fixed.
The regulation of pipelines by the
Interstate Commerce Commission should
be as thorough as now obtains as 10
railways. Reasonable rates giving fair
return should be prescribed and reason.
able rules established governing the de-
livery and receipt of consIgnments, the
maintenance OF ample storage. CORE
spending to depot and warehouse faciII-
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