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CITY DERRICK, FRIDAY MORNINGHISTORYOFSTANDARDOILCOMBINATIONi IJ the capital of th# associated rampant** Id ft? $. wh»• rt *lv» Bradford ration be«a*o#■MM *■»'***- MMj.j r» , .. .. , , « vi.liner for thm larafo* of a certificateCandid Explanation Wade by mu%$ • ^ »»t t#r««t’of each ewtaur la th* fttocks jlt;8*ne* in them that they have br»»rj dealt f talnly Smiled at its absurdity, Tf has be* j of dollars per annum., 1’f€o ii\ by thounandjs of persons in this an*I j come a part of history, however, an 4 may {market. This In donej sixty million# of dollars, which is nuntar* j fe » prm* In. nt and at*-, ks 1 pn h. h -j ate for an orator who has a point to | stimulate at the rate of ktx Of eiifht i»it-: make, but l» contrary to publ!# JwMry 1 | hon bart'd* per year th* lope Lina I tmtjr refer to this matter to ittswer tins J Compar y h* rvM noti» — that it could question, where did th# c»t.h#r mlBbm# p-the car# of thin afcuroii 1st loti. pro in* -come from? It cam# from the united feft churn.-4 Unit t*#bfttC a flt®r«**;It must do H Tanks could imLate Samuel C. T. Todd.eachhe l!punnet* inin trust.theThiss IHIjehnm?' Hi# nature of the tup*in which the business wam conducted, | to any such thing at. any time or place, Isold at ft price so tow as to compel their , . , * ^ , T, , veventually created auch public coon* | and the man who invent•*lt;» th- atnry e#r 1 «•#. Thin*, liita theee co.t thouaan.l» | *?#£* Jr Th* mandard } w i-tcd mpMiy eaowh and »U ran upotlof Ohio represents now its* • the ground Tfei# caused inrviu-*capital haying bea increased to that ie xei tern# fit that rtot w as Imminent* He-hut they save our at our lt;xp» rise.did m i In any nut ui't 1 other countries who never saw a barrel j fee found In learned vo-um#s and In the . hut our competitors reap their share of:Ivlqush exiting. Its essential oharac- i eg fat in sow rat of the principal cities. 1 truth after we arc dead, It tk a fair would not be done at allTUb m pro- : «d erode oil Exchange* for their sale j Oottgrftastonal Hseorti. It Will be told for I the benefittta-l charac- j egdnt in sorer*! the p ? I pal citica J truth after we are dead. it to a fI ter W4fi :cui rs gipiy a common owaor* I They are taken at banks as collateral, j aamjd** «»f stories about the standardWithout combination itCOMMENDABLE PURPOSES •P • ’ • v d to? • »rj .tratiat ♦ #y a*. td as montv. They are j 3 Cheapening Cost of Manufacture eenturbs have burned the sacred fir.*? of? lr H ^ ? fitnc per *\ this ft fid cnlv I now dealt In in the New York Stock Ex* j — The Association of Refiner* united Baku. Thf,■■-..■■ ■■■-♦ I this cotinUiauObjects Wereto Cheapen\ various eorporatloTransportation, Manufacture sc.ckf f- r Hi*-' puk IS -0 If 1^1' iH • afi ext ■' c 'C \ fh bu^in?Better Froducts and Secure1' »rk ponnits mo lufsicturingMore Effective Marketing. t ;r,4' • i r t) t n' ! ■ t w ••*• il: . . ... ■. * 1; -.; sthf namclhsti [ ctiangc,i pemons urute their capital and purchase : York as well as in tto# oil regions.Business is Done for Fnhllc,MtlMnifh the business was built up :! owned by tho«# who built up and own th« Stand art! Oil Com pan y, th«buslrstms Is done for tbs public- t\aamount- In the original union all ihc J crd as^^ciatitwts formed, piakkeTcompanies had large paid-up capital Yh# \ men poraded at mid night, dsorh and d«* individuals thus uniting were hl«s to {struct Iob were tisrt.-aie.netl The wild oafcontrol hargo capital in addition. Other j 8 Partes w.«ro helicycd, n h u tlat tu» , . .... .large capitalist* war*- induced to take mn f tanks were not fill ad, »*id Ifigt fttf afory' samr® tH? I Intei ’ ' tHs bBSin#ss. M#iw ea pit all of owr-T rod action w»i a * d iifsOn the shores of the Onupiaa sea forita| ond pui chu -4?» Yamitoiys, or form | and hob! the If j ,. ■ urn *;-ondh*€ by rr • - kO. •• of •;: f - of New(«l .. Mlwwl on (him ta «« X*t knowwg, ,«a *»«»»« J8 thw rv*dy bu«t fortli HJie , wa v m tto!? ,u i t.min, ,1 f»r hm f • -Onp «1 ^ to«n - »??%«„**?. Yr'TY1 V * -W Slf'tto^ ha.., h,H» nus.a fr«.n j»« p«rr»,*i« t! ... ■ . a. «h«i opofi to au if one had a secret the others f of rwk. Slt;or| before ptttwata tu dis»•» Jtw i■ lt;»Shared it Methods wcra compared. New ci»ycred lu ivntisv 1 an hi it was an art!-plana were tested. Bo^ulis were and ars : eto of commerce in Busttlatime to 11 me Kami nut* t»a.vo u i m* added 1 standard wn# 10 r lt;•-*'• - to cm? a into ati.^ t r to the* capital to some extent. The divb jas-t*«#mesi* to orcrt ruth*, o n*j douijK on trust certificates wore fai. rOfitc I tafc»- caro m allHi* * s Iwmi\ iwmicecf* \A’Wit•*r«fu»y colUt*t If n« e«t*blUih«n.r.t activity wa* *h««rn in thW fl«*W until yt,*ra « per cent, and tor the tot )« did so. th«ucc.rcis tn saving thf fraction of a cent (about the year 187$ when too oil landsTil-diedI *. 0^“^- *- m - Wi |WJ1 iUlt;«rt{B SO ' .4 £•* t i » , - , i H |WW rf?ftt4U ir«: r-mw-l «... j-fti’ r- A (.ort«vtftiion *.jL t'T- ?lt;!’! f«-«.ry and had r»«ulta tn1 f rr I tier* v.n.i.l ,rry on Uu,tn,^ It . L ““be”'1* hy ‘housandfc , r,.»^in Is at one- d . wr.|BT S C T. nODD ). ... . . ,, . t i _ 4t t I per barrel in tnaku g ml the reason tslr. f . *..IknBwnsad. tli# method ef savtiig adopted,*»'-■' ?.' in it ■• - -I • 1 Of, ss !;- soij5lt; *|r,0' t'h.p . -If good results *m obiitlnc-d Jn one mxnu-•einothcr, themce discovered and faults.months Id p«r cent Surplus earnings l prtmm turn for a time equaled one him-passod Into private hands. In 18 * 8, 19^jt0 the amount of |« per eenb -have been Id rod thwsaitd barrels per day,r iinert* a were In e«latent, cAt»bl* «t. u, |h# A „t lMft\ T..-.jay th- princlj-.l ttoo v nb«h»j1 m« ftdcutbm to t.hn fiuiitftl i the oil prodiice*- bJ-iinei* He- hikftdsird Isturning ont Moh.OCH) barrels annuallyllepbunt Ii glslmsS* )(Statement before t!tlv« committee New York, IFetroletun was 4iscdv'sr« %. in 3,8$$ At first If was sliprty distil I* d, and a pro*duct obtained '^hcmtlAlkctorY fyjd dim.ger-* cus. Improvemetit* were mad#., new pro- I rfducts Hscovered, hundr«a-is of patents tak*m lt;mt and hut erect versa UIthe hiiHin*»sv rh state ia which they lt;1tk ones a; 1.1 p#||tji# ga; 1 epumped, receives a tickfh'»s utl 1 bowing the *In 1U* nt°''ln this system i.A«m iM barrels of lank- ! A laic paper sign#a by *ncry tmpo. -.t a cap. .%t of Ail the Am* rt- a costing $300,Son nw now being ren- oil prodtu -r ho*x fbia preamblecan experience was uUHaed, I*lpc Hues j fJ^r^ ,.vsry m-nth The ta,.k- “Whcf. a*. Tfwre be aclt; nuulab dV ears upon [ Imk The ail fields grelOwi PMt tea years an exewtve *toc|L_# the rallroa*!, Irn^e tanks, tvarehouses and j not p^rmanenh They are rapidly being crude petroleum which is* Beteriofatlhjf^ of »h,» »h»p» w™» .Vh.tt««a « • »lt; WIUV a A.uU ., ..r V, '..-.-A#laced p«ar ct-ntIts the reduced price at which the oil la f carrying oilhi eh benefit aatexmta to mtUioaa j maruifacturlex weie cstahliahcd In fad.an imitation of the standard Oil enter* in bulk. a*ol fW.*e and oin _ V(J.im«cl of S 30.000. coy will be re pro* I y*»gr bee am* ^Aivt. value-if:s# for|Kf spatnsor*WCT-©otnpet KOtu^taess sas prthe hist d?tnairly lt;rugtey Vas- low as :at tlm-a hand yet rafttiemoru.-yStdw v »■ * «-sierofi cents fpfoAuct ma n *.-n Ic ' A' ■ : ’••'ard * Hiin ? ii*Ohio wa# ti 000 000 rjjla n vw'-'. ;r‘irnitmn 5atl.though for a. tit ?|mr* 1 * t f, for rrijlf: aster, failure and hank- « 1 .,.. of I had oot b*y- j rr cm! a-. it ‘c • ••' -4? ItiSthesert ffilid BOU nr* gv«asrsa chtapsaistg of mannas tahaw pi sc# in the maiuo of b%rr«ls tin can*, boxes forj eitoioslfit Tans point, glue ami acid.Igflri Bog bsdir-*| r?tch They * «-■■■« mawufact *u rd bysen ted by seres of old iron and thou- j a tsy purpose, and 1 ho carrying of tv me it ! sands of miles of Iron mst undm ground \ cx«ossive requites the cxp^pditnm‘A TT T i1 I °.f f •|orP T;1* - »*■ *■»«» o iw cent. «»»*n • - . .. ,the ( a»pt,n No tfoubt the hun.lred, o( mlt;,nt of th„ ,.hartclrr IO0 niucb-msU rcilaeHns, which for yws hud'accotopilsfH# a# littio an the windmillAbout I-argu EarniOfs.1, -t the trad* 31 *t Vmtueh.t. were eru#.lt; -I out, hut a, Yo„ wi|( #sk h,.„ Bb„u, u„t vear'g | r. vt at which thef yiist, gimis-gmm.uty; sod TVhyreaw-Ti%. ! ce - ;.Knr-‘ p.vistci'ic# at i-act|stock the pficy of crude petroleum iias f for tft# pagf year be, n 1-su'^-eiy byfow' thoRjfIiltt AI® |S! I #TJV:;: ft ? (; i It ;:t . :f f?; F®P$p-dHf it. irnilly OfR-If thisV-' ti #,; ■.., * I’ ' • -L ./thThe fii-rh?; t f oyi -Ife |d|mm t hT'^diby-i^WJ. ' 4IfS V #f ft.ft*#!Tt ' 'W.ft^ Sltj*ft a ra^€)hiiy Sf Hiid* t »iw t;tt Itt on# y#s#4 t h I* * v ■•V.-C * ■ ff* a..?-9H«... E^try ..... -T¥r.»-.........—-- —. tli J PH ^ ,.....„,.. , , wM||g'8yAiii produced,. ... ..., .. . .... business w m built up and Buss lap oil |#griiiingg\of |25,OOd.OO0r for which -th# j etc,'*or jown at a of fl-*3 | waa placed upon th# market, not only j #io«|ts#n-t. if rot exact, orator holds the? Thun tim« at length hrfi rs truth. .7. •*** u-^d j in |, sssia and t h# lt;fle«t, but also lb j figure# He only, of ail mankind, holds j lip hi. The oil. producer know# ami ad-i,!‘' Tl;js s»g a item atnouets to ! Ausrthi* Hirinany and « v« n England. | fix tires. Th# mri statements ar»» i mits that his chargvs agatnat the Htaml-Id f 4, daa.Adli per; yearI In I s71 cans c%mtd rentS each. Th#Vy#ar« statements areHince that day Ku-*#in« competition h;tsjmn y^t mad# u$v but w# know* thS reach lard hi lit8 and manyit ytari^ fought in every port Ion of t? *• | no gticn sum The #aywti»g« for i *Mi. j and unm#!, .put the mnftkr |fr' new m«de •■* . ,r itsanufactorieg f*.»r j easicrn hemlspUf-r*' Bus-um oil Is sold after making necessary deductions for I fluetie# of those unjust cbarfio# and thaless t . « n 1.4 f 'Sirty-sjx mint, it fx rfenXtat A OH. {•» f#tfe#-:,♦ ■ 'H Ti ti m kc mu if** V( 1 s;irh-iCTlPIir%m*fi vrse®: Bull#*• TH‘i ? i i |jp t (if ii ill lt;fe fii ji '$day of |T.Sod.P|--a.r-lyk acv«gn- I’ ‘ 1 V aj-IP I; leiin .American package.* on ler American .. tra ! ck# The crude product la Im i ■ e x 11 ■« a n w, % ter. \ a r -1 n g tro m t w sidepredation in plant, did not exceed 1.8 | aceotfipa.fiy,lpg pubBc excitement is pre-I j ud i cihg your to inds ia used by a storm tit sdrty »« the wave* e«t w ill I ret dis*4 wIP-amfc? per cent on the capital.savin* amounts! j cheaper t ban water, vary lug irom two Before leaving thia aaMeet, contrast ,b* ht cent* j • r bum 1 A ’» nlt; r it'umS ; for A moment the nature of the com* ! taut shores long after th* st -nn B ov* r*i-c *st * ' eer;rs nuf trig | dm t Is e as * * oth ’•♦•log °f ! phtint* just considt-i od, Ot)f U in effect, ( it ig u»* less to dwell t irUc-r upon tUaMUMSinn f oe l ure I by our i tpna “ - of •!•u* 11 : gk . .« tn th|* itcfti alongIt is rue ia hibftvaUn*? etls **f f .that the HUihdard has sold Its product# IcTir refit alb'raikm# aatUnnx the retardI CBlfv *vame Tiy1» rye t u - is n«t ! f ■Is:.: • jitflnityjtieTerk. w #-far -ui f iever jt-M P f ■ a t •- • a s t a k * •• n ] f' or# f t ak|i| «t1 'I!mt : | ii ni n the by at-He«*-8K|tfh w» ^6 rv*jfi«p*ftpI 111 rd*a th • m.a1A*%fm.vs.f oTOhlngtiotr-*ig« bad h fpHNfe d'drt'?paclpagi TiedTitled, at t * -. n ff trarmi laid (jftndcujHallroisjl udif -rniHfiTl tv, t - •any p%ri railroad this go?featw ixfiTh? Standard Oil cmnhmnM^n %**withbcM t ■ pi;.» m*l iucf«ai«Uprt«-#s* t-%# -.eontrxrg, hYg- I||«. Hax #lt;1 by th,#eh w-?Tvbdy;M u-YO of1 * fIf?. g itva • iTbft Sufttftft.* in Bj Prdsirt* of»k t u rei; I* r p; ame the wuP5* of mrefuse ;k »«' i f«»r |:fM4 \t%w, kept the margin between crude j ard. Th# mnjnrtiy of them arc a wfbl dp* widcy t ** p*'i* it ; and refined oil# so close, that competitors and ba*#!#?* as Aiabo e Night* ud *•lt; tuiv* tak«-n hold of the : eould not rp ike trmney and were crush* d j I have dwelt at »u« h b'Pg’ti upon lb#new jupo Ifnea are I-ro-1The other Is. that the standard gold history of the Htan*lard (e**au- ;? ?#v i*d ’ • limit d * »} ttal and energy otii too high «n*l made too much ne*n*. ;alwas referr* d to tv* vntbodvlng ail thowill b* put do fbt* I'lhlf.ia* 1? must Both views cannot be true. The truth B vlls of Combinations and tru»*b * h • t ' * '* n ^ 'ft il nd on- ) undoubt* lly lie* between the tw T1 \nd y* i tb* latds .w ti nt it. orMjNry or *gg foreign trade of fifty mil- Htsndard's methods of business wen *nm# similar eornbin tticn of persons an l 1 Ions hnmoliv w ill s die impaired | s*kH that it could sell oU |»rlt;Kl»icts at j capital, was and is essential to th#Mod tbt * uur t * bo U ft t«» PoiH! I- »figures too luw f*»r many competitors j budding up and u-dnte m* *• »*f toot w ill# B combination orjnnd still msk# fair profits for itself Jf | American oil trade, that it« destne tturtbun* * ! lt;ii \ w »uid lt;*m|thos# methods of busln* #•« are Justifiable j wuld be the destruction *»f ti it trade;l. « .ft ...1 \ I t:I PA ft # f-f?wI *A i“■ #%.it fdlfiislVe*##4nctrket* of ? *«*t Pass a ] which set ure «h# greatest g»#*l to thsjthat it tiai'■ Si ‘ -,J 11 #amlt; •-* ,‘freateat * amber, this mjt* iv cannot b# 1 lt;i^h icubits furii-V# prc'ducer aprfco■ 4 • ■ Jtr -#!•#* ra i #Hi ~u]mhnkMK;Sii ire -pf iiiard de%i♦- wj ?%• ?;tA- ‘r:swIi togrts rt cm It7?#vI #« im'S I A p*. ft« yi»-.4*. k» * # ■. .if. - |Tv':l fH^lf |11 »*}»* f r *r-tent Itedandisumief JbvirJf^lhvp!Tjkf retifincir.. .* cpajlt;!$; {#Fi^i-vH'* ' $ ft H W■ * * ■.., »** ac-i a‘ H Pf odtli^-vts. ip v mmg pr i ®. itmH^^’.dWht IVoilm d«v**xw oft ¥-■ .■ - e ^ ftft | j | ;?■ ' # x ■pensiv#fi# tbahu-ft|l# tTJk? visits ft ■iSK a iar# HiiTiberFUol itiI :?; m*«r*|-t* you#tit t!vPUV.; an*$*rmaft if#i• ur*and th# host pm**ftdp|||ppH fc.r his oil, and that it t# benefiting th«In cost i f3 Th# third an*t last reason wrtileh | public ' actual reduction r * d n* *'•* of *f'\ roll* i *fiau consider for p«'pular predu lice | f ;i ,n Jfiietur# and trices t . 1 he * xtent f* - v, rt - v ci '-’i \ h. .tv** , sgntnst the Standard, arises from t!m ; more than Its aggregat'd capital *.ic!iI?,» hvh. I comptaltita of oil prrslucers for many i year. I.et th# state or national legists*i 1 # *» j years that it. f**r It?* awn purpo^- s, k(-V’ 1 tur# ir‘»\l*le ft tetter mmie for v irryiii*Sown the prices of crude oilson this bualness If tn-tai i# iiIf you have followed my remarks you them not dlt; ^poil th# stis4oturuntil ammi ? -KHgainst Bus* j mu-st h# cTmvinc#*! that th# atorafi# and tetter is provided to take ItsLATE S C T DODD*'T'P-« pn^ f‘‘as!’*' fj'.gag#mt a;; ?#* fieg «m|■• tlkfis femtiC h of t*\■'* -'•?• J * . •- *H *, **s ♦ \ , ,rv d? *p«»■£}*y$ 0».| • ClVnrf a soniair Freiudlc#.lt; ♦ * * *U tb«- hista-rv of lt;uand ^ # *h»f ra f;liift. rr,pW^ iiMir. ip ' x I liK;Iw ' Hi f -ii i 11LETTER OF DRAKE.' I f^ 2 an -fr! t %■illii m#*tef t-c t *•'! vless IIt®. |P'f-i ; I Yp#'Itdr Wi '’I■A ki #V Ife*T H'-AY#-.if? '¥ 'A;mat -I c f: Hl^l'4#HRRRRMK/M...*.t ! * X 1 its « X# t fifgiT 1 ' f55Iu tt%c l ibl.g a ’ h i ■ i fia-‘lt;*«»!»lt;* it m* t an urgent rv*e l l.n- %\ #g oils the contrary. m«t with led tlmip|H|wi b«v in* i#;. -11- !.nt mlard and fi«h oils. In Kut.*p*c inI friifirate systetn by whifh the producer i 11s hi* oil on exchanges to thousands ] of buyers instead Pf ft few, must have nfcM% t« ndc t to better bis prices This system ** rt**Wfts adapted and mantftlnel at the i* _ r-r f pr Sc.cers and ««. a *dm qvba u* a fit AnnOUIlCCd HlS StOT't I OF Oil*if their business. All the #9ort* I have!if;* *M* narrated to eh capes the cost of making !i* citfim j ih#* product*, a oil to fore® them upmti »ine and foreign marketa rnuat have «l-ro dlrertlj able*-! the producer Withfiut llcrculean efforts to market it* prmluets ud* oil would have stagnated Mdth 4ft*Country Where His Difli- .culties Soon BeganIn April, of the ymr of !V ’A. Color *d• •» '• tul- o,o of h,rr,l, (.f -urplu. .,-. Vr**' »»• '-•**lt; * , . V1’1' • ‘ • t4uSi h. W .• .UM ft '•! t'.M ■ ■ 1- . t.. '• ■; 1 ! ’ f! -*.*•'• liut it 1- Ml«l tf.at th- Starvt.r-l »««* ■ ' -iful !■’ in,-v to, . ■ •« out mw - army *o( J *|wlt;ulat#d In thrs* i* rtllb'Tte^ and went follow :t »r t * i to I r r. • ••* ' * *i sum?t«St *!.tf i g y # 11;.l»urpt^a- « ? rjpilflanS. jjf:In «’•■';cc i4 k *ri ckP* 3- fel £ffee T«r*Hm which havet h* m*rlt«t UP or down «• u *Ui„d. T),)« .w »l I -'*• lt;» *!.lt;• I - rn, ; h I I.iti’I-bosk of BetroHuta, through courtesy or(hoA *IPP t Ik toJfetr1# rmphatirwitf danisd. It has nut sp«c ,p »p%dar oianbna H-a* this $**n- j tilated It feftm purchased what i? need*' 1 \ xhv i?iU‘ * wn 11 11)4 UKHl whtt It JWl,-hu„l U»toteou*ht 0Hrli.,U j-f wl...-h is xr ll. 1'i The tvssoiv* arc v -irious. jjgrgstv at tlmsi t» saw th# sNirkei fr**w r'1 8 Mayo*, of t:u h* a xmrd Nio.nmai’u * ’• ' * ' ?!f' bf iffc j absolute ruin, and for some ye.r* pa*t. ’ ^*‘k. of N« w York h tlm lt;• ly oiUinal■ for like reasons, has carried a larg*pad r* m fit pr#«#nt. i* ; of the- stsck of oil at a Ions to itumiUioflsft ftaCt.dtSttpftst. I h»il*. o.f MW V of H. m “no «»»ilfc.lia* - part document sett ting out explicitly th* Umlt;* ,,;f' vf lt;of rolcmei trakrs d*-partur# for Titu® Villc with Ide lumlh. Th- r-1 wia mutdiHi- * T. *h«w thftt th* prtr* of lt;*rult;l* oil Imm • ■ I 1 ■— ■, ■•■iffi.r -.11 i(W:-•’* lt;■ “tt. iopt to htHin acticrailv governed t»\ the law of ,,f w| wl»“r the oil v uld cont duo '»m \ danger. supply and demand, nothing 1* need* d - ^lnc^ ? K 'HI If.AirtteI * B put th# table of figutea glvon in evidence T,:' f id-^i . h-' th* 1 dept u * in-
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Oil City Derrick

Oil City, Pennsylvania, US

Fri, Aug 27, 1909

Page 14

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Carnegie L.

Pennsylvania, USA 01 Sep 2020

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