FREE BOOKS

Author's List




PREV.   NEXT  
|<   80   81   82   83   84   85   86   87   88   89   90   91   92   93   94   95   96   97   98   99   100   101   102   103   104  
105   106   107   108   109   110   111   112   113   114   115   116   117   118   119   120   121   122   123   124   125   126   127   128   129   >>   >|  
before the investigating committee of the legislature of New York that in 1878 he had requested the Erie Company to transport for him 100 cars of crude oil from Carrollton to New York; that he had called upon Mr. Vilas, the general freight agent of the company, in person, but had never been able to obtain the cars, though the oil had been held in Carrollton three or four months ready to be loaded. This gentleman also testified that he had found it impossible to obtain cars from the New York Central, and that the company's general freight agent had informed him that the road did not own and could not furnish any oil cars. After the Standard Oil Company had secured control of the various pipe lines of the oil regions, it frequently lowered the price of crude oil to such an extent as to make its production unprofitable. It even refused to buy oil, basing its refusal upon the ground that the railroad companies failed to furnish cars for its transportation. When the well-owners had their tanks filled, they had the choice to let the oil run away or to be at the expense of closing up their wells. In one instance, however, when their ruse threatened to cause a riot, several hundred cars were brought to the wells within a few hours. The Standard Oil Trust, not satisfied with the monopoly of the wholesale trade, even tried in places to control the retail trade by peddling oil at private houses. This method of destroying competition was chiefly resorted to where independent dealers obtained their supply by a water route. That many of the deeds of the Standard are dark is evident from the fact that its members, when summoned by the Hepburn committee, declined to testify, lest their testimony be used to convict them of crime. Officials of the trust have bribed or attempted to bribe employes of rival firms, for the purpose of ruining their business. By its peculiar methods the company has been successful in courts of justice and legislative halls, and has enjoyed an impunity for its conspiracy against the public that is without precedent in America. It has accumulated a capital of more than $100,000,000, and it is even claimed that for years its annual dividends have exceeded in amount the capital actually invested. This is not at all strange when it is considered that they have levied upon the producers, consumers and transporters alike. Mr. Cassat testified before the New York investigating committee that in eighteen months t
PREV.   NEXT  
|<   80   81   82   83   84   85   86   87   88   89   90   91   92   93   94   95   96   97   98   99   100   101   102   103   104  
105   106   107   108   109   110   111   112   113   114   115   116   117   118   119   120   121   122   123   124   125   126   127   128   129   >>   >|  



Top keywords:
Standard
 

company

 

committee

 
testified
 

capital

 
months
 

control

 

furnish

 

Carrollton

 

general


freight

 
investigating
 

Company

 

obtain

 

convict

 

testimony

 

summoned

 

Hepburn

 

declined

 
testify

Officials

 

employes

 
purpose
 

attempted

 

bribed

 

members

 

evident

 
resorted
 

independent

 
dealers

chiefly

 

method

 

destroying

 

competition

 
obtained
 

supply

 

requested

 
ruining
 

business

 

exceeded


amount

 
invested
 

dividends

 

annual

 

claimed

 

strange

 

Cassat

 

eighteen

 

transporters

 

consumers