The Birmingham age-herald., 1920-03-21
GROWTH IN VALUE
 OF STANDARD OIL
By HOLLAND

New York. March 2o.-fSpecial.1 1-In the second week of March, the stock of the Standard Oil Company of New Jersey gained in market value 165 points. That is within 10 points of the market value of the original Standard oil Company at the time Henry M. Flagler was beginning his Florida enterprises Having sum moned an architeet to submit plans for great and truly modern hotel at St Augustine, MT. Flagler was ready to enter into contract with this architect who is one of the foremost in New York. upon one condition. The architect was to receive his pay in Standard Oil certifi- cates, which were then quoted at 175 He did not hesitate and this single trans- action by reason of appreciation in the 1 market value of the various Standard OH stocks is understood to have brought to the architect comfortable fortune. Not at that time and not since or ever have the stocks of the Standard Oil Company or it's subsidiaries been listed on the exchange. Whoever bought or received Stanard Oil certificates accepted them relying on the good faith of Mir. Rockefeller MT. Flagler and the others in control of the company Many times the question was asked why the Stand ard Oil Company did not seek to have it's stock listed among the securities dealt in upon the floor of the exchange. The in
 
 and his associates were not willing that there be such investigation into the con dition of the company or companies as the rules of the stock exchange required. Tn other words the company sought to avoid publicity. Recently one of the lead- CTS of Standard Oil subsidiary said that l it was now realized that policy of that kind was mistaken one. The day Of publicity has come and the Standard Oil Company had nothing to fear from care | ful investigation into it's condition This remark was interpreted by some as an intimation that enc, at least, or the Standard Oil subsidiaries would make l application for the listing of it's stock on the exchange. That application has now been made. The Standard Oil Company of New Jersey, of which A. C. Bedford is chairman of the board and walter Clark I Teagle is president, has for several years 1 commanded attention ty reason of It's adoption of modern methods, especially | in it's dealings with labor and in some Of the reports it has made. Of course it IS regarded as fair to assume that any im- portant action of this kind and especially the listing of the stock in the exchange reflected the approval of John D. Rocke- feller, Many who have watched MT. ! Rockefeller course for the past five or six years have been of the opinion that his views of the attitude toward the pub lie of the Standard Oil Company have | changed He has come around to pub llicity.
 1 When the stocks of the Standard Oil Company of New Jersey are listed and dealt in on the exchange then the quota tions will report the greatest ngnres which represent transactions upon the floor. No other figures are likely to ap- lproach these quotations in the magnitude of them Nevertheless it is believed that | ;utf # Sfn will fol- lowed by considerable distribution of them with the public and perhaps that IS one of the objects which the Standard oil Company of New Jersey had in view
 when it made application for the listing
 of it's stocks by the exchange.
 | A LATER DAY WALL STREET
 Now that the New York Stock FIX change is preparing for an extension ot its building so that the northernly end Twill flank on Wall street and the entire building, old and new. will we'll rep
 resent the growth of this institution there comes also news which reports that IJ. P Morgan & Co. have secured by lease an optional extension of leases or the Mills building. If the leases be ex- 1 tended over the time agreed upon, ther this firm will practically own for eighty l four years new building. for it is thu purpose to build one modern in construc tion which vii be face to face with tht
 Stock Exchange building. This will make
 a modernized Wall street at the corner of Broad.
 The wonder is whether the same diff faculties will be met with when the foun
 dations are prepared for the successor t'
 the Mills building which were encountered
 by D. o. Mills when he built the old Mill
 building which was the first 6Y the great | CT buildings in the Wall street district t bc erected. Construction was delayed eo months because the contractors fount
 much quicksand beneath the surface A
 that time the engineers had not conquered Iquicksand problems The Mills founda
 ton difficulty was at last conquered D, freezing the Quicksand and then borint through it. The construction of the roun
 datton added considerably to the cost o | the building. When finished it was re
 gnrded as worthy of the attentions O
 strangers who visited New York ant
 were anxious to have view of thu
 sights.
 QUICKSAND AND ROCK
 Much of lower New York is of pecrfsia geological formation there being fount tthick strata of auicksands and also shelv