Evening star., 1937-05-24

His greatest contribution was to
the Rockefeller Foundation, which
received total Of sl82,851, ,480 80,
while other major donations included
1929, 9,209.16 to the General Edu-
cation Board, s59,931,s ,ss1e2 to the
Rockefeller Institute for Medical Re-
search, and s34 708, ,3752S to the Uni
versity OF Chicago.
In his twilight years, he gained in
the public mind as a kindly, great
hearted old gentleman. But it was
not always so.
Popular writer's Of the muck rak-
ing era assailed him and the Stand
ard Oil Co., charging the crushing out
Of competition.
Rockefeller adopted a strict policy
to "say nothing and saw wood" but
ultimately, in 1907, he was hailed
into court for alleged violation of
the antitrust laws and a famous de-
cision. Federal Judge Kenesaw Noun
tain Lands found the Standard Oil
Co. of Indiana guilty on 1,462 counts
charging acceptance of rebates on
oil shipments.
Fine Was Never Paid.
Lands fixed the penalty at $29,-
240,000. Rockefeller fought, and won.
The Supreme Court reversed the case
The fine was naver paid.
The founder of the Standard OIL
Co. and pioneer of modern American
business, Rockefeller once defended
his methods In these words:
I'VE found ourselves engaged, by
reason of overdevelopment Of the re-
fning industry, in ruinous competi-
ton. Probably 80 or 80 per cent Of
the reflners OF the country were either
losing money or conducting their busi-
ness without a profit.
my idea was to combine all these
for protection. Even in periods Of
greatest loss, our firm was able to
make some profit. yet every weak re-
finer struggling to do business in
haphazard fashion, selling his prod
ucts at loss in a desperate effort to
meet pressing obligations, was source
OF danger to all others in the business.
ut would be far better, by rescuing
these men from their dangerous posi-
ton, to safeguard ourselves by taking
them into our organization on the
basis of fair valuation Of their plants
and goodwill"
Under Rockefeller's managerial gen.
ius, Standard Oil made its own bar
rels for 80 cents each, instead OF
paying manufacturers the then cur
rent price Of $3.50.
So years later, in retirement, the
thrifty multi-millionaire was to in
stall his own dairy at his Pocantico
Hills estate, because he thought ~
cents quart was too much to pay
for milk
Dime Gifts Reduced.
Famed for his hobby Of giving away
dimes-he reduced it to nickels dur
ing the depression-Rockefe was q
great believer in the adage that
mighty oaks from little acorns grow"
and he hoped that his tokens" as he
called them, might be the seeds from
which others could grow their own
fortunes.
There is no record, however, of any
Of the 10-cent pieces becoming the
nucleus Of other riches.
The late Will Rogers reversed the
usual process once, walking up to
Rockefeller on the Ormond golf course
and remarking it was high time some
body gave the millionaire who was
always giving away dimes a dime of
his own. He did. And Rockefeller
accepted it with a chuckle.
The aged capitalist was canny as
a Scotsman in many ways. On the
golf course he would spend many
minutes hunting lost ball, and once,
after watching foursome give up q
ball as lost following brief search
he remarked:
Those fellows must have 4 lot of
money"
Loss Mourned by Friends.
The score or more persons whose
tender care eased the last years
Of Rockefeller, ST., mourned his loss
today.
They took it rather well, but I
would hardly say philosophically, i"
said Ward Madison, the philanthro-
pist's secretary, when asked how the
Rockefeller household reacted.
To Mrs. Fannie Ward, q second
cousin Of Mr.. Rockefeller and for
many years his hostess both at the
Easements here and at Golf House
at Lakewood, N. j., 1t was especially
4 blow.
It was she who would not allow
the body to be removed to IN UNDER
taking establishment. Under the
roof Of the casement+ where Lights