Standard Oil Company; Trusts, Industrial -- United States
The aldermen and the Common Council of Toledo unanimously adopted
resolutions, September 15, 1890, requesting the State and Federal
courts to give decisions as promptly as possible in the suits pending
against the validity of the natural-gas bonds. These bodies in their
official utterance declared that the oil combination, "through its
officers and agents in the city of Toledo and at many other points in
the United States, has circulated false and malicious statements about
the bonds of the city of Toledo issued for natural-gas purposes." The
natural-gas trustees of the city say in their report for 1890: "These
injunctions and circulars, although fathered in the first instance
by non-resident taxpayers, and in the second by irresponsible or
anonymous parties, were traced directly to the oil trust, a trust
having a large number of corporations within its control, among which
is the North-western Ohio Natural Gas Company, and to whom the city
of Toledo may reasonably attribute a loss of more than a million of
dollars already. What further financial embarrassment it may suffer
in the future cannot be measured by the depravity and moral turpitude
which its seeds have sown in our midst."[536]
When the warfare against Toledo became a scandal ringing throughout
the country and beyond, the organ of the trust in Toledo attempted to
make it appear that the oil trust was not the party in interest. But
there was open confession on the record. Its connection and its control
were admitted by two representatives in conference with a committee
appointed by the mayor at their request to discuss the situation.[537]
They described the circumstances under which the members of the oil
trust had gone into the project of the Toledo line and the project
of the natural-gas business. One of the two stated that he came into
it as its "more direct representative." The pipe line of the private
gas company was built, he went on to say, by one of the principal
corporations in the oil trust. At the same interview it was admitted
that the oil trust owned 60 per cent. of the natural-gas company's
stock.
Public-domain text, read in full here on John Shaqi.
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