New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1923-01-04
STANDARDS PROFIT
ON GASOLINE Shown
Big Salaries Of Officials Are Also
Disclosed

Washington, Jan. 4.-Profits aver
aging from / cent to IN cents are
realized by the Standard Oil Com
pany of New York upon each gallon
of gasoline produced in its refineries,
according to testimony submitted by
the corporation in the senate oil in
vestigation.
Testimony was presented to the
senate manufactures sub-comm ittee,
which is conducting the inquiry, by
four officials of the company, who,
replying to questions put by the COM
mittee counsel, described in detail
operations of the company in the
fields of foreign and domestic trade.
transportation and finance.
Incidentally, the committee got its
first direct information as to salaries
paid high officials of oil companies.
The statement as to profits on gas
oline was made by Howard A. Will
kinson, director of the corporation,
in charge of domestic sales. He es-
timated the price spread in gasoline
between the company's refineries and
its filling stations in the territory it
covers-New York and the New Eng
land States-at Z cents a gallon.
Good Big Profits
This spread, he said, was taken up
by a little more than 1 Y cents a
gallon for freight and cents for
marketing, the balance representing
profits.
The information as to salaries was
brought out by Chairman La Toilette.
Representatives of companies ap-
pearing before the committee pre-
viously were asked to submit a list
of their higher officials and the sal
aries paid each.
third vice-president of the Stand
ard Of New York, took the stand
Senator La Toilette asked him point
blank what his salary was. Mr.. Cole
plainly was disconnected by the ques-
ton, but replied in a low voice that
his salary for 1922 was $47,5oO, for
1921 was $4,000, and for 1919 was
$4,000.
Big Salaries Paid
Mr.. Wilkinson, the next witness,
also was subjected to inquiry as to
his salary He said he was paid
$4,000 last year, s27,5OO the preced-
ing year and $4,000 in 1920, when
he was Boston manager for the
Standard of New York.
While the Manufacturers commit
tee was pursuing its inquiry, which
is expected to be concluded the last
of this month, steps were taken by |
the senate public lands committee to |
resume its inquiry into leases of naval |
oil reserves. Definite plans were let
for formulation next week, but men,
bers said that investigation prob
ably would be first made into leases
given by the interior department to
the Sinclair interests in the Teapot |
Dome region of Wyoming, concerning
which Secretary Fall desires to tes-
.ify before his retirement from office
March A.
Total Earnings S253,S17,550.
Financial operations of the Stan
lard Of New York were testified to
before the manufacturers committee
by A. L. Hinch, comptroller of the
corporation, who estimated net earn-1
ngs of the company since the su-
,reme court dissolution decree at
Mr.. Wilkinson in replying to ques-
ions as to domestic business said the
company controlled about half of the
etail business in the territory which
covered. He declared emphaticallyI
hat independent dealers were given
he same rights in the purchase of
asoline from his company as dealers
aving the pumps and tanks fur
ished by rhe company. II
Reductions from "a to 22 cents a.
allon in the price of gasoline in New |
'ork city, ordered recently by the /
tandard of New York, he said. were
ue to competition by the Gulf and
exas companies. II