The Bismarck Tribune Newspaper, June 1, 1926, Page 2

h<C PAGE TWO ~ GOVERNOR SORLIE MAKES REPORT OF cs ‘ - bank ahd =. eenty ~ WORK DONE DURING PAST!17 MONT: The following is the complete text of the speech delivered by Governor A. G, Sorlie at the city auditorium in) Bismarck last night, formally opening this campaign for reelection: 4 aie — A¥ chairman of the board of direc- tors_of your public service corpora- tion, the state of North Dakota, it becomes my duty to render to you my repert on the work done by your direstors during the past 17 months In this report 1 wish to suggest to youhow in my opinion this great! corporatioh can best be directed for the benefit of all the stockholde First, le on the various industries that you have taken on and which you directed this-board to manage for It has taken considerable time and labor on the part of the stockholders to adopt laws and regulations for the | establishment and operation of these industries. In order to bring this about the’constitution of this state industry that the stock- established state Vt nanner and | are manu- fnetured in the plant. The greatest output of the plant was during the year 1925 when about 5,000,000 pounds of twine were delivered to the dealers | in the . The output for this year will be 10,000 pounds, and the en- tire output is now sold. takes about 25,000,000 pounds of to harvest each year's crop in a, so only approximately fifth of the amount used in the state is manufactured in the state plant. The twine made at the p plant sells for about 2-cents less per pound than other twine of equal qual- | ity, and | market has been created! ¢ the entire output right here in This industry has been so y operated that profits nting to about $800,000 have! coumula State Bonding Department ‘The next industry that the citizen stockholders of this public service corporation established was the state bonding department, created for the purpose of bonding state and county officials. The amendment to the con- stitution providing for this industry was adopted in 1913, but an injune- tion suit was brought and the law wis declared unconstitutional by the supreme court of North Dakota. In 1915 another Jaw providing for sti bonding department Was assed which was also attacked, not only in the courts of this state but} through to the supreme court of the| United States, the law finally being upheld. It was not until about 1018 litigation was over and any at amount of business could be on by this industry industry has worked out in a d anner with the result that 85,000 have been saved to the stock-| holders of this great public service corporation, North Dakota, { Hail Insurance Department | lowing the establishment of the! artment you created the state hail i and this indust: much the culties tha went through. Changes were made in the law from time to time, and now the department is functioning in a splendid w: d approwimately $26,- have been saved the stock- of this Public Service Cor- poration on hail insurance premiums. State Fire and Tornado Insurance epartment { Then you created the state fire and) tornado insurance department, and this industry also experienced a ver: strenuous time on account of the very bitter opposition launched against it by old-lifie and tor- nado insurance compan This de partment is handled under the same department as the Hail Insurance and Bonding Departments. ‘The value of all public property, in: cluding buildings and contents, on which insurance is carried by the fire nd tornado insurance department is roximately $40,000,000, The opposition toward the state fire and tornado insurance depart- ment has now been almost entirely red away, and the department has vith a saving of $688,000 n_ stockholders. i Workmen's Compensation Bureau The next industry undertaken by} the stockholders of this public service | corporation, North Dakota, was the Workmen's Compensation B ureau,| which has now been in operation for a period of about six year: By the enactment of this law creat- ing the Workmen’s Compensation Bu- reau, the employer is relieved from all liability for personal injuries re-: ceived or death sustained by his em- ployees, and employees entitled there- to are granted compensation by this bureau. The bureau has accumulated ap- proximately $1,500,000 for the purpose of plying claims allowed amounting to $1,278,177.71. The citizen stockholders of the pub- lie service corporation, North Da- kota, are to be highly complimented on the fact that the North Dakota Workmen’s Contpensation law is con- sidered. one of the best of its kind and has: been adopted by several of the state: .. Bank of North Dakota In’ 1919 you undertook another in- dustry, the Bank of North Dakota.| You will remember that this u- tion went through all the opposition, and difficulties that. all the other state. experienced in. tHe! nature of injunctions and litigation. Some changes have been made in th law since it was first adopted, so at the present time the Bank of North Dakota is serving @ rural credit does ‘but little other busi- Credit Bonds it year your direc- Katt; sold approzimately "$5000,000 ‘4 approximately $4, worth af North. Dakota rural .eredit, ~ bomds -within’ our own state and to our own peaple at a rate of 435 per Beitr, to this the lowest rate No kote bonds had sold for was 5 per oe Through the’ Bank of «North Dakota one- per cent was saved onthe sale of these bonds, and} Bi bonds run over & period of the. 28 rey tte ering tthe wd pavi to. i holde: these bonds on | th | jA 4 for the entire United States. Natural- ly there are a great many people who do not understand the services such an institution can render to the state, In time. however, the functions of the Bank of North Dakota will be as well understood as the functions of plant, the bonding depart- » hail insurance department, and tornado insurance depar: the workmen's compensa- ion bureau. ‘There is an old saying that “we must first learn to creen before we can learn to walk.” The Bank of North Dakota is now safely past the creep- ing s| nd is well able to stand on its own feet. Mill and Elevator The law creating the mill and eleva- tor association was passed at about the same the Bank of North Dakota was The attacks upon the mill the most se’ of all, One of the first attacks to be made was the in- time created, been begun before this s brought and because of this complet structure was delayed length of - cost of the mill ; buildings und the machinery highest point. hy the mill and elevator cost 8 00 more than it should have cost. The injunction was finally disposed of and construc- tion work resumed. The operation of the mill “nd elevator was commenced in October, 1922, which was very unfortunate. ither the mill nor the elevator was completed at that time and operation of this ifdustry should not have been commenced until the spring of 1923. The operating loss of this industry up to January 1, 1995, was $91,110.01; on ‘mill. and ele f and depreci making a total el injuncti This is one bonds $141,005.92, Py n of operating loss to an operating ga’ in the sum of $143,482.23. This would have netted a profit of 3% per cent on the investment if the capital stock in the mill and elevator associa- tion had been paid up. During the ame year 915.81 was charged ff interest on thH® bonds, and $67,610.44 to depreciation, making a total of $831,525.7: You can readily see from this state- ment that our profits have not been sufficient to pay 6 per cent interest on’ $4,500,000 of bonds, plus the -item of depreciation. But any industry that can make 3's per cent on its in- vestment in one year is considered a very sound institution. There are very few privately owned industries in North Dakota that can make any better sho The Mill and Elevator as a Marketing Agency To produce a profit on the invest- ment is, however, but a very small part of the real function of the state mill and elevator. It was primarily intended that the mill and elevator should become a marketing agency for North Dakota products. The prin- cipal product of our state is wheat. a marketing agency for this prod- the mill exceeded the expectations of any of us. Through our state labo; are able to ascertain the true value of our wheat as a milling product. North Dakota has been producing pretty much the same grade of whe: for the past 40 years or more. Thi wheat has been sold on a grade ba: with no attention paid to its m alue. A dark northern wheat usually sells on the Minneapolis market for from 16. to 22 cents over No. 4 Nor- thern. As a matter of fact, No. 4 northern may be worth more as a milling wheat than the dare northern. There have been cars of wheat shi: ed to the state mill that prove this > bea fact. One case I have in mind where two cars of wheat were shipped to the mill by the same party —one car of dark northern and one ar of No. 4 northern. The difference between these two gradés on his elevator card price was about 22 cents per bushel. The wheat was shipped to the mill and the shipper asked to have a protein test run. By this pr was established that hi 4 northern was worth 2 cents per bushel more than his. dark northern. In other words his No. 4 northern wheat brought him 24 cents a bushel more than the elevator card price at his local elevator. The local elevator ly have obtained a premium for . If no protein test had been made the wheat would have sold:on a grade basis. From information gathered from letters and conversations with farm- ers and elevator.men, I have ascer- tained that wheat brings from 5 to 15 cents a bushel more when sold on a protein basis than it brings when sold on a grade basis. Such be- ing the case, because of the fact that we have a state mill and elevator for a marketing agency, with facilities for laboratory. analysis, the farmers of North Dakota have made from 6 to 16 million dollars on the 114,- 000,000 bushels of wheat produced in the state last year. Has it ever occurred to you that the agricultural industry is the last of the industries to realize the value of a laboratory analysis of its prod- ucts? Every manufacturing industry has a laboratory in which BQ products are tested and analyzed. The labora- tory analysis proves the worth of the ommodity, and because of. such analy- sis the manufacturers are able to tell their buyers and consumers all about the commodity they have to sell. You ate all more ér less familiar with the marketing é milk and cream. Some 35 years ago milk was sold by the gallon or by the pound, regard- less of whether it came from a Jersey cow or a Holstein, and without tak- ing into account whether the milk came from a cow that was grain fed or straw fed. Under such a system you can readily see that there was ho incentive to have milk or cream. But the dairy industry soon learned the value of a chemical analy- of their product, and now milk and cream@are sold throughort the epiatry a basis of butterfat con- nt. Tf the state mill and elevator had been started when it first talked about, some 26 of money woul: thes wheat that ing all these 145,000}090 bushels. Our wheat shels. Our wheat crop: fall tee. 000 bushel: ‘ing tl Z 5 Aare for Sor Phar on a sis than on o grade basis, » amounts to eonsider- ye ew th the con ha: rs. North | ' nd elevator have been | and elevator has far} if Knoxville, Tenn., June 1.—In order that church members may spend the Sabbath in such forms of recreation ‘as will make the da: ‘and enjoyable, Trinity Methodist tehurch will hold its morning serv- tices at the early hour of 7 every Sunday throughout the summer. ; . This unusual step was voted ‘by the jehurch board at the suggestion of the partor, Rev. Jesse P. Bogue, who | recently came'to Trinity church from | Indianapo , i _.In the following article, written for NEA Service and The Tribune, Rev. {Mr. Bogue tells why he took th course of action and explains his leonception of the place the Sabbath fought to occupy. BY REV. JESSE P. BOGUE Pastor, Trinity Methodist Church Knoxville, Tenn. The reason for having a 7 o'clock | Sunday morning service for divine worship is to provide for the re- ligious needs of people who desire ito take their families and go into the country for a day of fresh air, rest and reercation in God's great out-of-doors. A Need for Workers I have felt thix to be a great necd for men and their families who are shut up in the city during the week. If they ure compelled to wait for the late Sunday service they are not able to leave the city until sweltering part of the day. Then, tov, the first part of the day is the freshest, and it is the univarsal testimony of people that when they give the best part of the day to religiont!thought and medita- tion, they are benefited thereby ail the more i As to playing golf, going fishing, mountain climbing, or ‘hiking or driv- ing in automobiles, 1 am not a judge of the consciences of my people. I believe that the Sabbath was made for man and not man for the Sab- bath. What is rest and recreation for one person is not for another, and I believe that people should be free to follow any line of diversion that is ‘best suited for their own needs as long us they do not thereby work the hardship of labor on othe people on the day of rest. Not Church Only I do not believe that Sunday is a day merely for going to church, I believe the churches should offer ae mills grind flour on 11 per cent pro- tein content. Because of this higher content of protein it costs the state about 65 cents per barrel more to produce our flour. But the millers cast of us who have discovered the wonder- fully fine bread our flour makes when only hard spring wheat is used in the flour, find that they have no trouble inducing their customers, the bakers und the housewives, to buy tMeir superior grade of flour, even though the price is a little higher. However, to get the millers to ehange from one kind of mixture to another is something that cannot be brought about*over night, even when the change means a super: ers have been grind patent flour from a mixture of 40 per cent hard spring wheat and 60 per cent soft spring and winter wheat, and they have built up a trade for this particular kind of flour. We must educate the people to demand a flour made from hard spring wheat containing 12.5 per cent protein. The public wants the best product that can be obtained, and when consumers know that they can get a superior grade of flour made from our superior grade of hard spring wheat, they will demand our product. It takes time to bring about such an educational campaign. When this has been accomplished there will be no trouble in getting a premium even larver than that we are now getting for our wheat. It will also help us to stabilize the price of our superior wheat. Because we live in a section of the United States that produces hard spring wheat exclusively, we need not fear competition. Our only competitor so far as the production of quality wheat is concerned, is a small section of eastern Montana. The hard spring wheat area {is getting smaller in the United States every year. The secretary of agriculture of the United States has assured us that as soon as he has available funds he will place a federal chemist our state laboratory at Grand Forks. We have a fine laboratory and a very competent chemist, but when the gov. ernment places a chemist in our lab- oratory, the fact that the grain shi ped to the state mill is tested by a federal man upon a federal standard will add considerable prestige. Since December 1, 1924, flour has been selling for approximately $1.80 pe barrel less than it sold for in 920 and 1921, basing the price of flour on the price of wheat. On December 1, 1921,:flour sold for $9.70 per barrel and wheat sold for $1.42 per bushel. On December 1, 1924, flour sold for $8.80 per barrel and wheat sold for $1.62 r bushel. There is a difference of 20 cents per bushel on the price of wheat between 1920 and 1924, ft takes 4% bushels | of wheat to make a barrel of flour. Four and one-half times 20 cents is 90 cents, and this amount added to $9.70, the price of flour in 1921, makes the price $10.60. Wheat sold at $1.62 per bushel in 1924, and flour at $8.80 per barrel, making a difference of $1.80 per barrel. Approximately 700,000 barrels of flour are comsumed each yeur in this state alone, without including the states of Minnesota and South Da- kota, although those states: have also been affected by the price of flour. The saving on the price of flour used in North Dakota amounts to approxi- mately $1,260,000. This item in itself is a considerable saving to the citizen stockholders of this public service corporation. . : In passing, I wish to report to the citizen stockholders of this public service corporation, North Dakota, that all the wheat used at the state mill and elevator has been hought from North Dakota farmers and North Dakota elevators and hks been shipped directly to the mill, except about 15 per cent_whie bought loenlly at rand Forks, and o small amount _was' delivered from Montana. Terminal Grain M. t the last session af the legislature aw" sed creating a terminal et in connection with the id elevator at Grand termin: Have’ been’ bandied by: the. terminal ve n since ‘last July. é ? resin ‘The teriilnal {state. The grain can be stored here | Average possessed a protein content of THE BISMARCK TRIBUNE A NEW KIND OF SABBATH-METHODIST PASTOR HOLDS "SERVICES EARLY $0 PEOPLE CAN SPEND THE REST OF THE ‘DAY ENJOYING THEMSELVES IN “RECREATION “SABBATH WAS MADE FOR MAN”* most restful |. | such inspiring services and at such | times in the day that every one could | have an opportunity to attend, even | the men and women whg are com- | pelled under our present industrial system to work. not only on a basis of grade but also on a basis of protein content. Within the past six months the terminal market has handled for North Dakota wheat growers and farmers’ cooperative elevators over 700,000 bushels of wheat which other- wise would have gone to the terminals outside this state. In an action recently brought to secure rate privileges for this term- | inal market o as the terminals in it was established without any con- tradiction that North Dakota wheat for the last four years has on the 12 per cent, and has been worth on the average from 10 to 12 cents per bushel over the card price at, any given station in the state. “This means that in the last year alone the wheat produced in this state ought to have brought over $11,000,000 over the grade price to the farmers of North Dakota. A grain exchange was organized last July and is now work- ing in conjunction with the mill and elevator. The exchange is a non- profit organization composed of 20 members. Earnings and Losses of State Industries Let us sum up the earnings and| losses of all the industries of this ublic service corporation. The state | industries that have made profits arc as follows: Prison twine plant .. $ State bonding depart- ment ete eneseee State Hail Insurance department .. Fire and tornado In- surance department Workmen’s Compensa- tion Bureau 221,822.29 | 800,000.00 | 185,000.00 26,000,000.00 688,000.00 T do not believe that forms of rec- reation that give rest and refresh- ment to those who participate in incompatible either with spirit of the day or the spi of worship of God. at as a result of full discussion and repeated presentations of the subject fat the polls. The acts which “the court is asked to restrain are not those of public officials who are pur- suing enterprises of their own: devis- ing. Those acts express not simply the judgment of the state legislature. ple of the state have yedrawn their constitution, That is the highest and most deliberate These consti authorize and what the defendants are threatening do, Their acts are simply the carrying out of the mandate of those constitutional amendments, “Rk hopeless to expect a popula- tion consisting of farmers scattered over a vast territory, as the people of his state are, to create any private 8 ill change the system now existing. The only means through which the people of the state have had any experience in joint ac- tion is their stute government. If through which to combine pital and carry on such basic industries as elevators and mills and so fit their products for market and market them, they must continue to deal as individuals with the vast combinations of these terminal cities and suffer the injustices that always exist where economic units, so differ- ent in power, have’ to deal the one with the other.” In order to keep within the law. in the creation and operation of their séyeral state industries,--the stock- holders of this public service corpora- tion, North Dakota, have amended their state constitution nine times. Every citizen of the state is a stock- holder in these industries. Every one of us should be interested in, making these industries succeed. Total $27,894,822.29 The losses which have been charged to the Bank of North’ Dakota are in- definite losses, estimated on account of redeposits in closed banks and lands acquired through foreclosure of loans made by the rural credit depart- ment of the bank. In 1925 the bank succeeded in selling. 6,744 acres of these lands and realized a profit on these sales after all principal, inter- est and taxes were paid. The losses charged against the mill and elevator amount to $825,311.52. Deducting this amount from the total | Profits of state industries still leaves la profit balance of $27,069,510.77. This is a tremendous showing of ‘profits to the stockholders of this ublie service corporation, North akota. When the Bank of North Dakota and the mill and elevator have been in operation as lot as the other j state industries, and when their man- agement has been taken out of pol , tics, they will become just as profi able to you as your other industries. There is no privately owned ban! mill or other business that cauld pos- ibly stand up under the attacks that ave been made against the Bank of North Dakota and the mill and ele- ator ever since they were established. Since the adoption of the Devils Lake platform the word has been spread abroad that all state indus- tries in North Dakota would be closed up as quickly as possible. Since the Devils Lake convention sales of flour have fallen off tremendously. Any merchant handling a ‘commodity wants to be sure he can get that com- modity after he has built up a trade for it. Ix it strange, then, tl chants have become wary ing state mill flour. when they are being told that’the State Mill is to be closed? Every created hi | | ‘ industry that you have 8 been declared to be con- stitution: As to your right to es- tabi: such industries by constitu- tignal amendment, let me quote from the opinion of Judge Chas. F, Amidon of the United State distriet court in a decision rendered in an action tried before him: “ih “The mévement ‘has gone straight forward; the_ constitition ‘hi repeatedly amended, amendments here asaailed—all having for, their object the correction of the existing ‘ystem’ of marketing the state’s products. Year by year’ the convietion has deepened, in steadily increasing majorities, that public enperenly of termifial etevators and mills is the only effective remedy to correct the evils from which they believe themselves to' be suffering. Their decision is not a pepal whim but-a deliberate conviction, arrive: out buy- | $: te co! which we are governed. Krowts hd development of tthe ‘nation an en amends | Your directors are interested in working out these problems for the best interests of the state, its people and its products. Taxes ‘The tax issue is a very live one at all times, and in recent years much has been said about the taxes of our state being higher than those of other states. The best way to arrive at a conclusion is*by comparison. Upon comparison of our taxes with those of other states in which conditions are pretty much the same as ours, it is consoling to learn that our tax rates are less than theirs. In the compari- son mademby the ional Industrial Conference board .in the “Cost © Government in the United State: for the year 1926, Nevada heads the list with the highest per capita taxes in the United States, Minnesota ranks sixth in this list, Sduth Dakota ninth, Montana seventeenth and North Da kota twenty-fifth. In 1925 state taxes in North Dakota were yeduced about $360,000, and it is a fact that only eight other states , in the Union made any reduction- inj; taxes in that year. We plan to make | a further reduction in state taxes in| 1926, Highway Depattment A great deal of good work has been done in the state highway de- partment. A law was passed at the! last legislative session which placed all state highways under the superv! ion of the state highway department. The highways of the state are a very important adjunct af the state's bus ness. The highway commission hi just recently let contracts for the uilding of two bridges across the Missouri River at a cost of about ,000,000. ‘All the work in connec- tion with these bridges hds been done by our own engineers in our own engineering department No commission has been paid to anybddy. We are developing a state enginee! | ed by the consent of the majority of the people. You have chosen and elected a ‘wroup of men to act as your board jet directors. These men have sworn {to uphold the ,constitution of the state, ax you ave amended it, und| to supervise and conduct your indus-| tries as you have directed by the {constitution they shall be conducted. Every industry owned by the state of North Dakota has been created by constitutional amendment. Do you think there should be anybody on your board of directors’ who {s \opposed to the constitution? , Om June 30, 1926, you will again jselect’ a board of directors to take harge of the management of your in- lustries for the next period of two | years, beginning January 1, 1927. See ‘to it that you select people who are i willing to abide by your constitution, iwho will enforce the laws as your | constitution directs them to be en- ‘forced, and who will be guided the jsame as any board of directors of jany reieitey, owned corporition {would be gai jed in carrying out the ‘direction’ of the stockholders of the {the corporation in which they have {the honor to serve as directors. | North Dakota has too long been a i“branch” state. We have depended {too long on other states for help in jall lines. It is high time we became {a state in the real sense of the word, {developing our own resources, our own industries and working out our own problems in our own way for the best interests of our own citizens. We need to quit fighting among our- {selves and to hegin fighting for,our- {selves. What we need in North Da. kota is cooperation. - TUESDAY, JUNE 1, 1926 Ahmed Ziwar Pasha resigns on pres-| enforcement acts except those relat- sure from nationalists. ing to minor: Eighteen Cornell University stu- ‘dents sre suspended for publishing “untactful” matter in special edition of paper. Montana petitioners sign in cient numbers to insure vote th: on repeal of all Montana prohibition Modernist New York Presbytery’ wins technical victory when general , ‘assehfbly at Baltimore adopts report of committee of 15 to continue com-_ mittee for another year, Earthquake jars Three Forks, Mon- tana, but does slight damage. | (Mercury: readings at.7 a, m.) Bismarek—Partly cloudy, 48; roads good, 4 St. Cloud—Clear, 55; rands good. Duluth—Partly ‘cloudy, 62, roads ; roads good. dy, 54; roads good. Hibbing—Clear, 60, roads good. Mandan—Partly cloudy, 51, roads rood. rgrtreo—Partly cloudy, 51; roads Grand Forks—Cloudy, 52; roads good. . Winona—Partly cloudy, 64; i rood. Rochester: Mankato— rood, Sie i NEWS &- roads lear, 62; roads poor. rtly cloudy; G6; roads BRIEFS we Finance Minister Robo tes house of commons Canada will return to gold’standard July 1. British power in Egypt when Premier To authorize their enactment the peo- | of the Profits ing department that is second to none in the United State: Our nation is a republic. On Jul; 4th this year we celebrate the 10th anniversary of the sigting of the| Declaration of Independence. That historic document declares it to be a' self-evident truth that aH men ‘are: created equai and entitled to life, iberty “and the pursuit of happiness, y the Declaration of Independence and the adoption of the constitution of the United States, this nation tinfe the so-called abolished for divine right man oF group of , xcept as the con- ‘The federal and titutions are the basic rules he state have made such these: conistitutjons have been a —fuct phone or address EB. L. Jansen, Gen, Agent F, R. Connell, Pass, Agent Santa Fe Ry. 607 Metropolitan Life’ Bldg, Minneapolis, Minn. Phone: Geneva 9136 Y, i Four times a year, 50,000 stockholders receive dividends out of profits accruing from the activities of/ the Standard Oil Company (Indiana). Men and women of modest means, hard- working, industrious citizens—a great mass of Progressive people from all walks of life—ma%e up the great which owns the Standard Oil Company (Indiana), j No one-man or group of men get the profits of the Standard Oil Company (Indiana). They go to a vast army of thrifty people — 50,000 strong — who. have saved and invested their money in Standard Oil Company (Indiana) stock and who take pride in the big business it enjoys because they are joint owners. A great many of the 50,000 partners of this Company (15,325) carry on the actual work of the organization. The employes own 4.2% of the total stock of this Company, and as a group constitute the second largest stockholding in- fluence in the Standard Oil Company (Indiana). The ownership of the Standard Oil Company (Indiana) is democratic in the wide and even distribution of its shares. : the 50,000 stockholders of the Pliny Bar are no individuals or groups of particular power—none which owns: more than $34 % of the total stock. ‘The three largest influences in the Company are the Rockefeller Foundation, the Employes, and the General Education Board. The profits of the Standard Oil Company (Indiana) accruing to the stock owned by the Rockefeller Foundation are distributed to the very ends of the earth, among all peoples of the world, wherever intelligent philanthropies can minister to the needs of man. For the Rockefeller Foundation is an-orgen- {zation established with the chartered purpose to promote the well-being of mankind through- out the world.” ' The charter of the Rockefeller Foundation fe a pledge of limitless faith in the power of ee one eeu a eee ee over “love over selfishness. . ‘The largest stockholder in the Standard Oil Company (Indiana)—the Rockefeller Foundation —isa RY, a deep 5 huimmae. need lee philanthropy, ae intelligent as the highest know!- edge of the age in jts methods, as wide as the world in ite ecope. ‘ Thus through dividends paid out -to 50,000 , the profits accruing as the inevi- table result of big business, efficiently and skill- fully managed, are widely distributed over the earth—to a great body of thrifty employes—to great mass citizens — and the Foundation to the suffer. and needy of the world. A vision of the part that Standard Oil Com- pany (Indiana) sara. th gee Digendbpecoagn Do mankind throughout ‘worl ivea new mean- _ing to its description as a “big business.” f ‘The quality and extent of ite service to