NUMBER 53 (See page 2153)
LIST OF CONSTITUENT COMPANIES OF THE STANDARD OIL TRUST, WITH ASSETS AND CAPITALISATION IN 1892
[From History of Standard Oil Case in the Supreme Court of Ohio, 1897–1898. Part I, page 112.]
| ASSETS | CAPITALISATION | |
|---|---|---|
| Anglo-American Oil Co., Limited | $6,913,639.49 | $5,000,000 |
| Atlantic Refining Co. | 8,631,376.67 | 5,000,000 |
| Buckeye Pipe Line Co. | 7,941,038.15 | 10,000,000 |
| Eureka Pipe Line Co. | 1,547,055.16 | 5,000,000 |
| Forest Oil Co. | 3,528,813.11 | 5,500,000 |
| Indiana Pipe Line Co. | 2,014,053.91 | 1,000,000 |
| National Transit Co. | 25,796,712.97 | 25,455,200 |
| New York Transit Co. | 4,999,300.00 | 5,000,000 |
| Northern Pipe Line Co. | 707,067.00 | 1,000,000 |
| Northwestern Ohio Natural Gas Co. | 1,396,760.00 | 3,278,500 |
| Ohio Oil Co. | 8,260,378.04 | 2,000,000 |
| Solar Refining Co. | 711,793.87 | 500,000 |
| Southern Pipe Line Co. | 3,279,018.28 | 5,000,000 |
| South Penn. Oil Co. | 3,021,654.87 | 2,500,000 |
| Standard Oil Co., Indiana | 1,038,518.61 | 1,000,000 |
| Standard Oil Co., Kentucky | 3,604,800.78 | 1,000,000 |
| Standard Oil Co., New Jersey | 14,983,943.30 | 10,000,000 |
| Standard Oil Co., New York | 16,772,186.29 | 7,000,000 |
| Standard Oil Co., Ohio | 3,426,014.72 | 3,500,000 |
| Union Tank Line Co. | 3,057,187.41 | 3,500,000 |
| $121,631,312.63 | ||
| Capitalisation twenty corporations | 102,233,700.00 | |
| Excess of assets over capitalisation | $19,397,612.63 |
NUMBER 54 (See page 2154)
FORMS OF MR. ROCKEFELLER’S CERTIFICATE OF HOLDINGS IN THE STANDARD OIL TRUST, WITH ASSIGNMENT OF LEGAL TITLE WHICH TOOK ITS PLACE IN 1892
[From History of Standard Oil Case in the Supreme Court of Ohio, 1897–1898. Part II, pages 53–56.]
KNOW ALL MEN BY THESE PRESENTS
That we, John D. Rockefeller, Henry M. Flagler, William Rockefeller, John D. Archbold, Benjamin Brewster, Henry H. Rogers, Wesley H. Tilford, and O. B. Jennings, Trustees, for winding up the Standard Oil Trust, by W. H. Tilford, our Attorney in Fact, and John D. Rockefeller, of ...., do hereby constitute and appoint John Bensinger, of New York City, our true and lawful attorney for the purposes following, to wit:
Whereas, John D. Rockefeller has placed in the hands of said attorney assignment Number A 365 for 256,854
972,500 of the amount of corporate shares held by said trustees on the first day of July, 1892, in each of the companies whose stocks were so held.Now the said attorney is hereby authorised to secure from each of said companies transfer upon their corporate books of said stock and stock certificates for whole shares, and scrip for fractional shares thereof, and when the said certificates and scrip are received from all the companies referred to, the said attorney shall deliver the same to John D. Rockefeller, and the said assignment Number A 365 shall at the same time be delivered to the said trustees.
And the said attorney hereby agrees to obtain the said certificates and scrip and to deliver the same and the said assignment as above specified.
(Signed in print) John D. Rockefeller, Henry M. Flagler, William Rockefeller, John D. Archbold, Benjamin Brewster, Henry H. Rogers, O. B. Jennings, Wesley H. Tilford. (Signed in ink) W. H. Tilford, Attorney in Fact, John D. Rockefeller, per Geo. D. Rogers, John Bensinger. Received from John Bensinger, Attorney aforesaid, stock certificates and scrip as follows, being in full satisfaction of Assignment Certificate No. A 365 aforesaid:
NAMES OF COMPANIES SHARES SCRIP Anglo-American Oil Co., Limited 6867 465–9725 The Atlantic Refining Co. 13205 8375–9725 The Buckeye Pipe Line Co. 52823 4325–9725 The Eureka Pipe Line Co. 13205 8375–9725 Forest Oil Co. 14526 4350–9725 Indiana Pipe Line Co. 5282 3350–9725 National Transit Co. 134463 131316–9725 New York Transit Co. 13205 8375–9725 Northern Pipe Line Co. 2641 1675–9725 Northwestern Ohio Natural Gas Co. 8659 80890–9725 The Ohio Oil Co. 21129 3675–9725 The Solar Refining Co. 1320 5700–9725 Southern Pipe Line Co. 13205 8375–9725 South Penn. Oil Co. 6602 9056–9725 Standard Oil Co., Indiana 2641 1675–9725 Standard Oil Co., Kentucky 2641 1675–9725 Standard Oil Co., New Jersey 26411 7025–9725 Standard Oil Co., New York 18488 2000–9725 Standard Oil Co., Ohio 9244 1000–9725 Union Tank Line Co. 9244 1000–9725
(Signed in ink) John D. Rockefeller, Per Geo. D. Rogers. Received of John Bensinger, Attorney, Assignment Certificate, Number.... (Signed in ink) John D. Rockefeller, William Rockefeller, Benjamin Brewster, Wesley H. Tilford, Henry M. Flagler, John D. Archbold, Henry H. Rogers, O. B. Jennings. By ..., Attorney in Fact. 11–3–92. Number A 365. John D. Rockefeller. Received from trustees to liquidate the Standard Oil Trust assignment of legal title to 256,854
972,500 of the amount of corporate stocks held by them in each of the corporations whose stocks were so held on July 1, 1892, and I do hereby authorise and direct the said trustees, or the survivor or survivors of them, to receive from the respective companies and to pay over to me or my assigns the dividends upon the stocks so assigned, and actual transfer thereof is recorded upon the books of the respective corporations.(Signed) John D. Rockefeller,Per Geo. D. Rogers.There is pasted to this stub the original assignment of legal title for the transfer of Mr. Rockefeller’s trust certificates into corporate stock of the respective companies. This has been returned and marked “cancelled” and attached to the original stub, and is as follows:
Number A 365.
STANDARD OIL TRUST COMPANYAssignment of Legal Title to Stocks Heretofore Represented by 256,854 shares.
Whereas, John D. Rockefeller is the owner of the equitable title to 256,854
972,500 of the amount of corporate stocks held by the trustees of the Standard Oil Trust in each of the several corporations whose stocks were held by said trust on the first day of July, A.D. 1892, which equitable ownership was represented by 256,854 shares of Standard Oil Trust surrendered for cancellation. Now, we, the trustees in whose names the legal title to said stock stands, do hereby assign and transfer to John D. Rockefeller and his assigns the legal title to the aforesaid amount of the said stocks and authorise the proper officers of the several corporations to transfer upon their books and to issue corporate certificates for the required amount of their respective capital stocks upon presentation and cancellation of this assignment. The several corporations will issue stock certificates for whole shares and scrip for fractions of shares and upon presentation of fractional share scrip sufficient for the purpose, certificates for whole shares will be issued. When transfer of stock upon the corporate books is desired by virtue of this assignment, it must be placed in the hands of an attorney in fact, both for the assignee and the undersigned trustees, and said attorney shall first obtain the proper certificates and scrip from all the several companies, and thereupon shall deliver the certificates to the trustees and the stock certificates and scrip to the party or parties entitled thereto.
(Signed in print) John D. Rockefeller, William Rockefeller, Henry M. Flagler, John D. Archbold, Benjamin Brewster, Henry H. Rogers, Wesley H. Tilford, O. B. Jennings, Trustees. (Signed in writing) H. M. Flagler, Secretary. W. H. Tilford, Attorney in Fact. On the left-hand corner of this same certificate this indorsement appears:
Cancelled November 7, 1892. Transfer Number 4833. Certificate issued.
There appears on the back of this assignment of legal title the following:
For value received, I hereby assign the corporate stocks mentioned or referred to in the within assignment, and authorise their transfer upon the respective corporate books to myself or my heirs.
(Signed in writing) John D. Rockefeller.
NUMBER 55 (See page 2160)
AGREEMENT OF 1887 BETWEEN THE STANDARD OIL COMPANY AND PRODUCERS
[Proceedings in Relation to Trusts, House of Representatives, 1888. Report Number 3,112, pages 69–70.]
Memorandum of agreement, made this first day of November, 1887, between the Standard Oil Company of New York and the following-named persons, partnerships, and corporations, producers of crude petroleum, Thomas W. Phillips and others, whose names will be found in the schedule hereto attached and made part of this agreement, as follows:
Whereas, there has accumulated in past years an excessive stock of crude petroleum, which is deteriorating in quality, and a portion of which each year becomes sediment, valueless for any purpose, and the carrying of which excessive stock requires the expenditure of vast sums annually; and
Whereas, in consequence of the existence of said stock the price of crude petroleum has for the past year been largely below the cost at which the same was produced; now, in order as far as possible to preserve the said stock from further waste, and to conserve the public interest and our own, this agreement witnesseth:
That the Standard Oil Company of New York will set apart at sixty-two cents per barrel, and hold for the use of the above-named producers and those who shall hereafter become parties to this agreement, as hereinafter provided, 5,000,000 barrels of merchantable crude petroleum, of forty-two gallons each, to be sold and disposed of in the manner hereinafter provided. The said 5,000,000 barrels of petroleum to be subject, until sold by the said producers, to the usual assessments, storage charges, and interest upon the same, as also interest on the price of said petroleum, at sixty-two cents per barrel; said assessments, charges, and interest to be added to the price aforesaid.
In consideration of which the above-named producers agree to limit their production of petroleum, that for the year next ensuing from this date, they or any number of them shall, for said year, collectively produce at least 17,500 barrels of crude petroleum less per day than they or any number of them collectively produced per day for the months of July and August, 1887, and that they will use every reasonable endeavour to control their production so that the same shall be in the aggregate 30,000 barrels less per day than it was during the said period of July and August, 1887.
If at the end of three months from the date hereof the said reduction of 17,500 barrels per day shall be attained, to be measured by taking the average production of the above-named producers for the months of December and January next, and comparing the same with their average production for the months of July and August, 1887, a statement of the same being hereto attached and made part of this agreement, then the said 5,000,000 barrels of petroleum shall be delivered as fast as the same shall be sold by, upon the order, and for the account of said producers through their executive committee appointed by agreement between themselves, and hereinafter named, to be paid for with interest and storage as delivered; that the profits aforesaid upon said 5,000,000 barrels of petroleum as sold, in accordance with the provisions of this agreement, shall, by said Standard Oil Company and said producers’ executive committee, be deposited with the United States Trust Company in New York City, until the expiration of one year from the date hereof, in trust, in accordance with and subject to the provisions of this agreement; and in case the above-named producers or any number of them shall not have lessened their production 17,500 barrels per day for said year as aforesaid, then all of said profits upon said 5,000,000 barrels of petroleum shall belong and be paid to the Standard Oil Company of New York; and in case the said above-named producers or any number of them collectively shall have lessened their production 17,500 barrels per day for the said year as aforesaid, then the entire profits aforesaid upon the 5,000,000 barrels of petroleum shall be paid to said producers’ executive committee, to be by it distributed in accordance with agreements between themselves to such of said producers as have fulfilled the terms of this agreement, and all agreements between themselves relating to such distributions.
The said producers are guaranteed by said Standard Oil Company of New York against loss within said year upon said 5,000,000 barrels of petroleum. The lessening of 17,500 barrels per day above provided shall embrace and include any reduction or lessening of production by producers who shall sign contracts not to use means to increase their production by drilling or otherwise.
Producers may become parties to this agreement within the year the contract is to operate by signing the agreement between producers authorising the executive committee to sign this contract on their behalf, and having their names added hereto as parties by said executive committee.
The following-named persons constitute the executive committee above referred to, to wit:
(Names omitted by consent of the chairman.)
NUMBER 56 (See page 2187)
JOHN D. ARCHBOLD’S STATEMENT TO THE INDUSTRIAL COMMISSION CONCERNING THE STANDARD’S OPPOSITION TO THE BUILDING OF THE UNITED STATES PIPE LINE
[Report of the Industrial Commission, 1900. Volume I, page 529.]
Mr. Lee makes a statement regarding the difficulty of his pipe-line, the United States Pipe Line, in crossing railroads and securing right of way to the seaboard, and makes a general statement implying that we have instituted and carried out great obstruction to their progress. I want to make general denial of this statement. We have not at any time had any different relations with reference to any obstruction or effort at obstruction of their line than would attach to any competitor in a line of business engaging against another. With reference to the special features referred to by Mr. Lee, and which he attempts, by implication at any rate, to connect us with, in the crossing of the Delaware and Lackawanna Railroad in New Jersey, I want to say that the contention in that respect was entirely at the hands of the railroad, and not at our hands in any possible respect. They went there surreptitiously and endeavoured to force their way, on a Sunday, over a line where they had no right, either by private purchase or by public franchise. Having accomplished the crossing of the road in that surreptitious way, they stationed there an armed force to prevent the railroad company from asserting its rights and taking out their lines, and kept that force there for a long period. The railroad went about it in a peaceful way, in the courts, and the final result is that the decision is against the line, after the case has been carried up finally to the supreme court of the state, and they must, of course, remove their line. But any statement on Mr. Lee’s part, or any other witness, that we had anything to do with that matter, or with reference to any of the difficulties interposed in their progress to the seaboard, is absolutely false.
By Mr. Phillips.
Q. Did your company own in fee simple the tract of ground, and was a roadway reserved by the landholder? Was that purchased by them?
A. It was not my case, and I am not conversant with the details regarding it. The fact that, after having been fought in the newspapers and in the courts for a term of years, seeking the sympathy of the judges as well as the public, the supreme court of the state has ruled against them, is the best evidence, I think, that the right was against them. I want to say with reference to our pipe lines, that we never endeavoured to cross any man’s right of way without first seeing him about it.
Q. Still, did they not go through the railroad on their own ground, and was not this the final decision, that they had not the right to lay a pipe line where a man had reserved a right of way under the ground?
A. It was not only decided that they had no right there, but they were ordered to remove.
NUMBER 57 (See page 2194)
TABLES OF YEARLY AVERAGE PRICES OF CRUDE AND REFINED
[All quotations up to 1899 are from the Oil City Derrick; all quotations for 1900–1903 are from the New York Commercial.]
TABLE OF YEARLY AVERAGE PRICE OF CRUDE
In the following table is presented the highest and lowest price of oil, the months in which these quotations occurred, and the general average for each year. The “average” as estimated is usually the mean price between the highest and lowest quotation of a given time. It is sufficiently accurate for general purposes of comparison. It would be an almost impossible task to determine a “true average” from the reports of the daily sales that are now on record. Previous to 1875 the quotations are given for points along Oil Creek, and they hardly represent what the producer actually realised for oil at the wells. From 1875 onward the trading in oil was placed on a more satisfactory basis by the general adoption of pipe-line certificates, and the exchange quotations show very closely the value of the oil at the wells. When the certificate was finally purchased by the refiner, it was subject to a uniform charge for pipage of the oil from the wells to the nearest shipping point.
YEAR Highest Month Price Lowest Month Price Average 1859 Sept. $20.00 Dec. $20.00 $20.00 1860 Jan. 20.00 Dec. 2.00 9.60 1861 Jan. 1.75 Dec. .10 .52 1862 Dec. 2.50 Jan. .10 1.05 1863 Dec. 4.00 Jan. 2.00 3.15 1864 July 14.00 Feb. 3.75 8.15 1865 Jan. 10.00 Aug. 4.00 6.59 1866 Jan. 5.50 Dec. 1.35 3.75 1867 Oct. 4.00 June 1.50 2.40 1868 July 5.75 Jan. 1.70 3.62½ 1869 Jan. 7.00 Dec. 4.25 5.60 1870 Jan. 4.90 Aug. 2.75 3.90 1871 June 5.25 Jan. 3.25 4.40 1872 Oct. 4.55 Dec. 2.67½ 3.75 1873 Jan. 2.75 Nov. .82½ 1.80 1874 Feb. 2.25 Nov. .62½ 1.15 1875 Feb. 1.82½ Jan. .75 1.24¾ 1876 Dec. 4.23¾ Jan. 1.47½ 2.57⅝ 1877 Jan. 3.69⅜ June 1.53¾ 2.39⅜ 1878 Feb. 1.87½ Sept. .78¾ 1.17⅛ 1879 Dec. 1.28¾ June .63⅛ .85⅝ 1880 June 1.24¾ April .71¼ .94⅛ 1881 Sept. 1.01¼ July .72½ .85¾ 1882 Nov. 1.37 July 0.49¼ 0.78½ 1883 June 1.24¾ Jan. .83¼ 1.05⅞ 1884 Jan. 1.15⅝ June .51¼ .83⅝ 1885 Oct. 1.12⅝ Jan. .68 .88⅜ 1886 Jan. .92¼ Aug. .59¾ .71⅜ 1887 Dec. .90 July .54 .66⅝ 1888 Mar. 1.00 June .71⅜ .87 1889 Nov. 1.12½ April .79½ .94⅛ 1890 Jan. 1.07⅝ Dec. .60¾ .86⅝ 1891 Feb. .81⅜ Aug. .50 .66⅞ 1892 Jan. .64⅛ Oct. .50 .55½ 1893 Dec. .80 Jan. .52⅞ .64 1894 Dec. .95¾ Jan. .78½ .83¾ 1895 April 2.60 Jan. .95¼ 1.35¼ 1896 Jan. 1.50 Dec. .90 1.19 1897 Mar. .96 Oct. .65 .78⅜ 1898 Dec. 1.19 Jan. .65 .91⅛ 1899 Dec. 1.66 Feb. 1.13 1.29⅜ 1900 Mar. 1.68 Nov. 1.07 1.35¼ 1901 Nov. 1.30 June 1.05 1.21½ 1902 Dec. 1.44½ Mar. 1.15 1.23 1903 Dec. 1.88 Mar. 1.50 1.58¾ TABLE OF YEARLY AND MONTHLY AVERAGE PRICE OF REFINED
In the following table is given the average monthly and yearly prices of refined oil per gallon, in barrels, in New York, from January, 1863, to December, 1903. During the years when a tax was levied on this article of domestic production the quotations do not include the tax:
1863 1864 1865 1866 1867 1868 1869 1870 1871 1872 Jan. .40 .46⅝ .70 .57⅞ .31 .24¾ .34⅛ .31⅜ .24⅝ .22⅝ Feb. .38¼ .47⅛ .67¼ .48⅝ .28¼ .25 .36⅜ .29⅞ .25⅛ .21¾ March .34¾ .49⅛ .58¾ .41⅞ .27½ .25¾ .32⅛ .27 .24⅛ .22⅝ April .33¼ .54⅛ .52⅞ .40⅛ .27 .26¼ .32¼ .26½ .23¼ .21¾ May .39½ .59½ .51⅛ .43 .26¾ .29⅝ .31½ .27½ .24⅝ .23⅜ June .44½ .72 .51½ .41⅞ .24¾ .31⅜ .31 .27 .25¾ .23 July .49 .86⅛ .52⅛ .39½ .30⅞ .34¼ .32¼ .26 .25¾ .22⅜ Aug. .53½ .84⅞ .52 .44⅜ .29¼ .33 .32½ .25 .24⅜ .22⅜ Sept. .58 .75 .58¼ .44⅝ .31¾ .31 .32¼ .26⅛ .24⅛ .24⅛ Oct. .52½ .63¾ .61¾ .40⅝ .34½ .30 .32⅞ .24⅝ .23¾ .26 Nov. .41½ .70 .62⅝ .35¾ .27½ .30⅞ .34 .23 .22⅜ .27 Dec. .46½ .72¾ .65¼ .31¼ .24¾ .32¼ .31⅛ .23 .23 .26 Yearly average .44¾ .64¾ .58¾ .42½ .28⅜ .29⅛ .32¾ .26⅜ .24¼ .23⅝ 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 Jan. .22⅛ .13½ .12⅜ .14⅛ .24 .12⅛ 9 7⅞ 9¼ 7 Feb. .19⅝ .15 .14 .14¼ .18⅝ 12¼ 9⅜ 7⅞ 9¼ 7⅜ March .19 .14⅞ .15 .14½ .16 .11⅝ 9¼ 7¾ 8½ 7⅜ April .20 .15⅝ .13⅞ .14 .15¾ .11⅜ 9⅛ 7⅝ 7¾ 7⅜ May .19¾ .13⅞ .12¾ .14⅞ .14½ .11¼ 8½ 7⅝ 8 7½ June .19 .12⅞ .12⅝ .14¾ .13¾ .11¼ 7½ 9⅝ 8⅛ 7½ July .18⅛ .12⅛ .11½ .16⅞ .13⅜ .10¾ 6¾ 9⅞ 7⅞ 6¾ Aug. .16½ .11¾ .11¼ .19⅞ .13⅝ .10⅞ 6⅝ 9 7¾ 6⅞ Sept. .16½ .12⅛ .12¾ .26 .14½ .10¼ 6⅞ 10⅝ 8 7½ Oct. .16¼ .11⅞ .14⅛ .26 .14⅝ 9⅝ 7½ 12 7¾ 8 Nov. .14⅛ .10¾ .13 .26¼ .13¼ 9⅛ 8 10½ 7½ 8¼ Dec. .13½ .11¼ .12¾ .29⅜ .13⅛ 8⅝ 8⅝ 9½ 7⅛ 7⅝ Yearly average .18¼ .13 .13 .19⅛ .15¾ .10¾ 8⅛ 9⅛ 8 7⅜
APPENDIX, NUMBER LVII
| 1883 | 1884 | 1885 | 1886 | 1887 | 1888 | 1889 | 1890 | 1891 | 1892 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan. | 7¾ | 9⅜ | 7¾ | 7¾ | 6¾ | 7¾ | 7 | 7½ | 7.42 | 6.45 | |
| Feb. | 7⅞ | 9⅛ | 7¾ | 7⅝ | 6⅝ | 7¾ | 7⅛ | 7½ | 7.48 | 6.42 | |
| March | 8 | 8½ | 8 | 7⅜ | 6⅝ | 7¾ | 7 | 7¼ | 7.31 | 6.32 | |
| April | 8¼ | 8⅝ | 7⅞ | 7⅜ | 6⅝ | 7⅜ | 6⅞ | 7⅛ | 7.18 | 6.10 | |
| May | 7⅞ | 8½ | 7¾ | 7¼ | 6¾ | 7½ | 6⅞ | 7¼ | 7.20 | 6.06 | |
| June | 8 | 8⅛ | 8 | 7⅛ | 6⅝ | 7⅛ | 6⅞ | 7⅛ | 7.13 | 6.00 | |
| July | 7⅝ | 7⅞ | 8¼ | 7 | 6½ | 7¼ | 7¼ | 7⅛ | 7.02 | 6.00 | |
| Aug. | 7⅞ | 8 | 8⅜ | 6¾ | 6½ | 7⅝ | 7¼ | 7¼ | 6.70 | 6.08 | |
| Sept. | 8⅛ | 7⅞ | 8⅜ | 6⅝ | 6¾ | 7¾ | 7⅛ | 7⅜ | 6.42 | 6.10 | |
| Oct. | 8⅜ | 7⅞ | 8½ | 6¾ | 6¾ | 7⅝ | 7⅛ | 7½ | 6.45 | 6.03 | |
| Nov. | 8¾ | 7⅞ | 8½ | 6⅞ | 7 | 7¼ | 7½ | 7½ | 6.40 | 5.80 | |
| Dec. | 9⅛ | 7¾ | 8 | 6⅞ | 7¼ | 7¼ | 7½ | 7¼ | 6.44 | 5.45 | |
| Yearly average | 8⅛ | 8¼ | 8⅛ | 7⅛ | 6¾ | 7½ | 7⅛ | 7⅜ | 6.93 | 6.07 | |
| 1893 | 1894 | 1895 | 1896 | 1897 | 1898 | 1899 | 1900 | 1901 | 1902 | 1903 | |
| Jan. | 5.33 | 5.15 | 5.87 | 7.85 | 6.13 | 5.40 | 7.43 | 9.90 | 7.58 | 7.20 | 8.27 |
| Feb. | 5.30 | 5.15 | 6.00 | 7.35 | 6.26 | 5.48 | 7.40 | 9.90 | 7.81 | 7.20 | 8.20 |
| March | 5.34 | 5.15 | 6.75 | 7.40 | 6.36 | 5.82 | 7.33 | 9.90 | 8.00 | 7.20 | 8.21 |
| April | 5.52 | 5.15 | 9.12 | 7.00 | 6.13 | 5.67 | 7.05 | 9.51 | 7.68 | 7.30 | 8.35 |
| May | 5.20 | 5.15 | 8.20 | 6.75 | 6.23 | 6.00 | 7.01 | 8.98 | 7.04 | 7.40 | 8.47 |
| June | 5.21 | 5.15 | 7.83 | 6.85 | 6.14 | 6.16 | 7.20 | 7.88 | 6.90 | 7.40 | 8.55 |
| July | 5.15 | 5.15 | 7.65 | 6.55 | 5.87 | 6.27 | 7.61 | 7.90 | 7.15 | 7.40 | 8.55 |
| Aug. | 5.18 | 5.15 | 7.10 | 6.65 | 5.75 | 6.44 | 7.82 | 8.05 | 7.50 | 7.21 | 8.55 |
| Sept. | 5.15 | 5.15 | 7.10 | 6.85 | 5.74 | 6.60 | 8.63 | 7.98 | 7.50 | 7.20 | 8.55 |
| Oct. | 5.15 | 5.15 | 7.10 | 6.90 | 5.55 | 7.21 | 9.00 | 7.48 | 7.65 | 7.26 | 9.01 |
| Nov. | 5.15 | 5.15 | 7.88 | 7.15 | 5.40 | 7.35 | 9.40 | 7.33 | 7.65 | 7.71 | 9.36 |
| Dec. | 5.15 | 5.61 | 7.77 | 6.35 | 5.40 | 7.40 | 9.85 | 7.28 | 7.43 | 8.12 | 9.45 |
| Yearly average | 5.24 | 5.19 | 7.36 | 6.98 | 5.91 | 6.32 | 7.98 | 8.50 | 7.49 | 7.38 | 8.62 |
Note.—In the above tables the quotations down to 1890, inclusive, are noted in cents and fractional parts of a cent; from 1891 to 1903 the prices are given in cents and decimal parts of a cent, i.e., 7.42 signifies seven and forty-two hundredths cents, and 9⅜ means nine and three eighths cents per gallon. The above are New York quotations in barrels; bulk oil is generally 2.50c. below these prices. Philadelphia and Baltimore quotations are five points below New York; for instance, if New York price was 5.75c., the Philadelphia and Baltimore price would be 5.70c.