National Linseed Oil Trust Trust and the Whiskey Trust. At a peak in 1898 the Trust held $6,000,000 in assets over liabilities. An early report by one of the founders stated that the Trust was initially founded for the social benefit of the members. The US Department of Justice brought suit against the Trust for violating the Sherman Antitrust Act. Several co-defendants were named, including the National Lead Company, Archer-Daniels Manufacturing Company, William O. Goodrich Company and the Sherwin-Williams Company. The suit alleged all of these companies were acting in collusion to raise prices, citing a spike in linseed oil costs between 1916 and
World oil market chronology from 2003 two major oil suppliers reducing supply generated fears of a repeat of the 1973 oil crisis. The mid-July decision of Saudi Arabia to increase oil output caused little significant influence on prices. According to the oil minister of the Islamic Republic of Iran, Gholam-Hossein Nozari, the world markets were saturated and a Saudi promise of increased production would not lower prices. Several Asian refineries were refusing Saudi petroleum in late June because they were over priced grade. On July 3, "the Brent North Sea crude contract for August delivery rose to $US145.01 a barrel" in Asian trade. London Brent crude