The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-09-10
o,, MARKET QUOTATIONS.
"How Much Longer
wiz II Be-"

VIII II Be!
"Itow much longer will IT be until
the standard oil owns and controls
" bsi,nce of the business Of the
.',,rt,yo @" SAYS W. II. Sproul, presi-
S.r, of the Kansas OIL & Gas Assn,
.hrough the Sedan Times star.
The following is his statement In
',lyhv do the Standard and SIN
.,sir companies oppose an import
du,v In this country and an export
Gp,y I'm Mexico on crude oil? II Is
because those companies own and
s,,frol from 60 TO so per cent OF the
bg oil production in Mexico, and
own and control tho big Gulf and
aA'lartic Coast refineries whcro TINS
Mexican crude oil can be refined,
and can be supplied without COM
retltion. to big market both for
'he gasoline and fuel oil. The sup
nlyine Of all the southern and east
orn markets with Mexico oil destroys
large part OF the market for the
Mid Continent crude oil and its re-
fined products, causing the markets
for Mid Continent oil products 20
diminish until oil properties may be
purchased for small per cent OF
their real value. The untaNed Mex
ican crude means that many OF the
independent rcfineries, which are
competing with the Standard OH
will have to go out OF business. or
tsas into the control of the Standa"d
Oil
The question Ia asked. why cam
not the Independent producers chip
their oil to eastern and southern
markets. The answer rs that the
Interstate commerce com mission has
raised freight rates 80 high that the
shipping Of crude oil any distance is
impossible. The members of the
interstate commerce commission are
appointed by the president. hut at
whose Instance and request We do
not know.
The standard oil controls all OF
the leading interstate oil pipe lines
In the United States. These lines
are made common carriers by law,
but under Standard OIL regulations
have been used almost eXclusively
for the purpose of transporting oil
for the benefit and use of the
Standard and It's subsidiaries and
associates, The pipe line companies
have the right of eminent domain
the right to condemn. run through
the farmers land and take 1t for
what amounts to their own private
Use. And now in order to further
help the Standard, 1t has been pro-
posed that these lines be exempted
from taxation.
Does the Standard deserve all OF
these special privileges and rights
because of the interest 1t has mani
tested in the welfare of the whole
people? The Standard Oil fixes and
controls the market for raw material
and fixes and controls the market
for the manufacture of refined
products. BY such control of its
business II is enabled to make so to
rs per cent per year profit on the
capital invested, after deducting lib
eral allowances for depreciation and
all other losses. The men who have
had capital invested in the Standard
Oil have grown fabuously rich. II
is said that the founder of the
Standard oil company. Mr.. Rookie
feller, owns larger interest in the
various Standard Oil companies
than any other man or corporation
= What do you suppose Is the estimate
of John u. Rockefeller's wealth
Harry II. Klein, in the New York
Times of recent date gives the
amount OF Rockefeller's wealth &c
be two billions four hundred million
dollars $4,000, 900, ,000). Think OF
Il, Controlling the market price OF
raw material and of the manufac,
1 tured or refined products has en-
abled him during lifetime tc
amass wealth greater than that o.
any one OF many nations of the
earth. II is said that Mr.. Rookie
Teller owns s400,000,000 in railroad
stocks. Would it be violent to sup
pose that the Standard Oil. with al
its multiplicity OF corporate interes
could not and would not WELD I
powerful influence in the selection
OF the interstate commission. which
likes freight rates and passenge
rates. 1t Is immaterial to tn,
Standard Oil whether otker bust
nesses Of the country are prosper
Gus. II can get the desired profit
through adverse as well as prosper
Gus conditions.
1T is said that the Standard OF
now owns or controls a majorit,
interest in the oil production busi
ness, the oil pipeline business, tn
refining and marketing business. tn
kading coal mines, the iron mine
and steel mines OF the country, tn
breakfast food industries, the lead
Ing candy factories and the leadin
mail order merchandise business o
the United States. All OF which ar
aford!ng II great profits. The inde
p'Hucnt oil man, the thrmer an
the stockman and the day lahore
does not fix or control the price q
mat which he sells, and does not Fl
or control the price OF that which h
must buy. He is dependent at eac
end of his business.
How much longer will It be unit
me Standard OIL owns and control
the balance Of the business of tn
oountry?"