We educated our own men; we trained many of them from boyhood; we strove to keep them loyal by providing them full scope for their ability; they were given opportunities to buy stock, and the company itself helped them to finance their purchases.

Not only here in America, but all over the world, our young men were given chances to advance themselves, and the sons of the old partners were welcomed to the councils and responsibilities of the administration.

I may say that the company has been in all its history, and I am sure it is at present, a most happy association of busy people.
I have been asked if my advice is not often sought by the present managers.

I can say that if it were sought it would be gladly given.
But the fact is that since I retired it has been very little required.
I am still a large stockholder, indeed I have increased my holdings in the company's stock since I relinquished any part in its management.
WHY THE STANDARD PAYS LARGE DIVIDENDS Let me explain what many people, perhaps, fully appreciate, but some, I am sure, do not.

The Standard pays four dividends a year: the first in March, which is the result of the busiest season of the whole twelvemonth, because more oil is consumed in winter than at other seasons, and three other dividends later, at about evenly divided periods.