Business: Standard Oil Dividends

Much of the reverence long held for Standard Oil companies by the investing public bids fair to depart after the recent spell of omitting dividends. In rapid succession directors of Atlantic Refining and Standard Oil of Kansas have decided to give nothing to stockholders, which goes to show that even Standard Oil companies are human and fallible.

Not so many months ago, some of these companies were very much undercapitalized. Atlantic Refining was a conspicuous example. Surplus was out of all proportion to capital on the balance sheet. Also, political liberals in Washington, about...

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