Gunton's Magazine (Volume 13) (Paperback)

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. 1897. Excerpt: ... GUNTONS MAGAZINE SEPTEMBER, i897 Fresh from the Oil Regions There is probably no concern in the world which is the subject of so much suspicion, and psychological, as well as industrial, antagonism as The Standard Oil Company. People who know nothing whatever of the oil business, of the industry, history, methods or results of the company, feel perfectly competent to pass judgment, always of course against the trust. This company seems to occupy very much the same position in the industrial sentiment of the community that Satan does in the atmosphere of theology. It is regarded as the evil genius, which is the cause of all the bad and none of the good in the oil industry. We have had occasion several times to discuss at length the economic effects of The Standard Oil Company on the petroleum industry. Heretofore, however, we have considered the question only on the side of the manufactured article--refined oil--the reason for this being that public discussion has been devoted mostly to that side of the subject. The law suits, legislative investigations, and practically all anti-trust schemes and literature have been directed against the "monopoly " in the refining business. Despite the wholesale and almost interminable attacks upon this trust, however, the result of its great economy and superior efficiency in the oil industry has forced an unwilling public to admit its economic usefulness to the community. The fact that it has improved the quality and reduced the price of petroleum, without in any way inconveniencing the community, is no longer seriously challenged. Its motive is questioned, its great wealth is envied, its success is distrusted, but its economic superiority is no longer disputed. Although the Lloyds, Von Halles, Hobsons and sensational j...