J. D. ROCKEFELLER.

Taranaki Daily News, Volume LI, Issue 317, 7 January 1909, Page 4

J. D. ROCKEFELLER.

"I AM AN ABLE BUSINESS MAN." TELLS WHY RIVALS FAILED. New York, November IS. "I am an able business mail. Mv competitor, are not," said Mr. John D. Rockefeller, the richest man ill the world to-day, when he was asked bv the Federal examiner who is conducting the proceedings of the dissolution of the Standard Oil Trust, how he accounted for his success in the face of the failure of so many of his trade rivals. This testimonial to himself came at lire cud of an exhausting day, during which Mr, Rockefeller was continually on the witness-stand. The examination was held in a small room in the line new Cusluni House facing Unttery ll'ark.

The room was so crowded when Mr. Rockefeller arrived that he had to force bis way to bis seat on the witnessstand, lie wore a thick grey suit an.l a thin grey wig, and he beamed benevolently on 'the Standard Oil counsel, win took hiin in hand lirst, as he is called as a witness for the defence.

Mr. Rockefeller sketched the history of the great corporation of which he is the bead from the time be began business with a capital of £BOO some lime between 18110 and 1802. The linn wis called Andrews, Clarke, and Co, and Mr. Rockefeller's contribution to it was CJOO. which he borrowed from Mr. ,1. P. Handy. "That £4OO gave me mv start," he said.

The business was reorganised scveial times, the capital being Increased each time, ami in 1870 be .and his partners formed llie Slnndkird 'Oil Company with a capital of C 200,000. "That seemed immense lo us, who in those davs started wilh a capital of .C 800," said Mr. Rockefeller, simply, and he explained that he and his friends secured a large credit in New York. Describing the methods bv which success was achieved, Mr. Rockefeller said that they introduced great economics in the old business.

"We used to buy 10-gallnn barrels for 10s," be said, "but we began to manufacture barrels by machinery, which cost less thnu half, and held more. For a long time we were the only firm making our own barrels."

Mr. Rockefeller was asked if he used coercion when he bought out rival firms. "No," lie replied, "they were fair bargains, such as I always have made."

Mr. Rockefeller's examination will probably last several days.