The rise and progress of the Standard Oil Company Volume 3 Book PDF, ePub eBook

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Book Descriptions:
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 Excerpt: ...But "the producers continued to crowd each other with new wells and to rely solely upon the United Pipe-Line to furnish storage and local transportation. The result was that the eager driller of wells found his product at the mercy of the purchaser, and was speedily subjected to low prices and loss of oil." Of more importance were the efforts of the society to secure transportation facilities. At a time when the transportation agents, both local and to the seaboard, were in alliance with the Standard interests, the Equitable Petroleum Company, formed by the producers of McKean County to provide an outlet by pipe-line to the McKean and Buffalo Railroad, thence to Buffalo, and by way of the Erie Canal to New York, was enthusiastically encouraged by the General Council. The committee on legislation meanwhile had introduced into Congress and into the Pennsylvania Legislature bills regulating the companies engaged in the transportation of petroleum. These proposals, however, were not well received; and in its report in 1878 the disgruntled committee, describing its labors, said: "It has been simply a history of failure and disgrace. If it has taught us anything, it is that our present law-makers are, as a body, ignorant, corrupt, and unprincipled."l So far, in spite of all its activity, the General Council had brought no practical relief to the producers; so that when, in May, 1878, the committee on legal remedies advised resort to whatever existing laws there might be, the council at once authorized the committee to take the necessary steps. 1 Investigation of Trusts, Congress, 1888, p. 692. The committee immediately laid its grievances before the attorney-general; and on behalf of the committee the attorney-general brought action against th...

The rise and progress of the Standard Oil Company Volume 3 by Gilbert Holland Montague

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