session or power data showing… the amount of such surplus money in their hands after the payment of the last dividends." Then Mr. Rockefeller proceeded to repeat as the last he knew of the value of the holdings of the trust the list of values given six years before.[1] This list has continued to be cited ever since as authoritative. There is a later one, whether Mr. Rockefeller had it in his "possession or power," or not, in 1898. It is the last trustworthy valuation of which the writer knows, and is found in testimony taken in 1899, in a private suit to which Mr. Rockefeller was party. It is for the year 1896. This shows the "total capital and surplus" of the twenty companies to have been, on December 31 of that year, something over one hundred and forty-seven million dollars, nearly forty-nine millions of which was scheduled as "undivided profits."[2] Of course there has been a constant increase in value since 1896.
The new Standard Oil Company is managed by a board of fourteen directors.[3] They probably collect the dividends of the constituent companies and divide them among stockholders in exactly the same way the trustees of 1882 and the liquidating trustees of 1892 did. As for the charter under which they are operating, never since the days of the South Improvement Company has Mr. Rockefeller held privileges so in harmony with his ambition. By it he can do all kinds of mining, manufacturing, and trading business; transport goods and merchandise by land and water in any manner; buy, sell, lease, and improve lands; build houses, structures,
- ↑ See Appendix, Number 53.
- ↑ See Appendix, Number 61. General balance sheet, Standard Oil interests, December 31, 1896.
- ↑ The present directors are John D. Rockefeller, William Rockefeller, Henry M. Flagler, John D. Archbold, Henry H. Rogers, W. H. Tilford, Frank Q. Barstow, Charles M. Pratt, E. T. Bedford, Walter Jennings, James A. Moffett, C. W. Harkness, John D. Rockefeller, Jr., Oliver H. Payne.
[ 266 ]
