The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-10-21
STANDARD OIL
COINS PROFITS
FROM WORKERS
Gets Back Most of Its
Original Cost Yearly
continued irom Page Ore

(C0Ut1nued rom rage OittJ
ing 16 years of S12,034. Of course
the Rockefellers, Pratts, Harnesses,
Whitneys. and those who own the
bulk of the stock do not hold it in
ten share lots! Their millions of
shares have rendered profits &C
cordnigly.
keystone OF Arch.
The Standard Oil Co. of New Jer-
5ey has been always considered the
keystone of the large Standard Oil
group of companies pumping gold
into the pockets of the millionaires.
It is the largest refiner, distributor
and carrier of oil in the country, be-
sides having a large chemical divi-
sion. As the Investment Review of
Clark Williams and Co. puts it, this
company 'is thus not only a strong
ly integrated unit in the oil indus
try but is probably also one of the
largest producers of chemical pro-
ducts. The wide diversity of its in
terests and the size of it's market
ing facilities has enabled it to enjoy
stability of earnings which has
been accorded to few American in
dustrial companies during the last
ten years"
This is putting it mildly. AS a
matter of fact in point of gross bust
ness carried on it ranks close to the
U. S. Steel Corporation, the largest
manufacturing corporation in the
country. And the last annual report
Of the Standard of New Jersey
showed a profit of S108,485, 6S6 or
more than double the profit of the
previous year. This profit represent
ID a return" of $443 on each $25
Ear share of the common stock. But
you take int consideration the 400
per cent stock dividend of the year
1922 the stockholders were really
yetting in 1928 nearly So per cent
On the original par value Of the
stock they received when the COM
3any was established following the
.egal dissolution" of the original
,.tandard Oil Trust in 1911.
Enormous Profits.
The value of the stock of the cor
Joration since 1912 has increased by
.aps and bounds. And in the 16
ears since the reorganization Of
me oil trust this New Jersey slice Of
it has alone piled up profits total
.ng $1,273,309,5 41, which is about 10
ines the capitalization of the par
mt company. In fact, in the last
en- years the profits of the company
ave totalled 1897 ,639,4f3, which
.epresents profit of 709 per cent
n the par value of the original
took, or an average return OF about
L per cent a year!
And out Of these enormous profits
turing the last ten years the COM
ANY. which bankers call "a conser-
aztec dividend payer" has paid out
ash dividends totalling S509,377, TIA
= more than five times the capitali-
alton of the trust" that the Sher-
nan Law is supposed to have
busted" 1t has reinvested $72O, 1885,
80 in the business, and has handed
yut stock dividends to the extent OF
1897, 729, ZOO Or in other words, 1t
as distributed to its multi-million-
Are stockholders in cash and stock
.ividends a toatl of S907 ,306,814.
For every 10 shares Of its common
took, worth $3.50 in 1918, the pro-
..teers have received over $4,000 IN
-.ividends since 1913, while the mar
ct value has shown steady climb.
.jetween 1912 and 1928 the market
alue of the stock rose from $685.
.58,625 to $1,039, 561, 113. During
My two weeks in August Of this
ear the company added about $780,
100000 othe open market value CT
s shares, q spectacular advance,
IS the Wall Street spectators de-
scribe it.