New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-06-27
BURSTING OF BUBBLE COMPANY
Innocent Stockholders Duped to
Tho Amount Of $4,000.
A MODEL PROSPECTUS.

.n.-s 49,. .,s;n.t W iIiam d. Mann and Daniel
a,..,o, ., NJ No aa0 Brosdway. alleging that By false
representations they had derauded him and others ont
n the sum Of over $4,000 From the affdavs made
Nv him IL anpesrs that The accused months since
organized q company to DO known as the United
Bervice Petroleum and Mining Company" Major
Heu William s Hancock ether with or without
His consent was elected President, and Mann. one
~ the accused vice-Presi.ent and General Super
fntendent. prospectus was published. giving The
hames of the founders of the company its officers and
Stockholders prominent among whom were the names
Of some Of the most celebrated officers connected with
She Army Of the Potomac and tie War Department.
the number Of acres of land oil BY the company and
Ats location together with probabilities OF striking
oil in the localities mentoned-al presented In the
most gorgeous coiors and when backed up by the
names presented, liable TO deceive the most wary
Large quantities of the stock we're sold. amounting
IN the aggregate to over s600o OF which Stratton ana
Mann claimed to have spert s4S0oo in payment of the
land aud expense Of working etc short time since
Messrs. S. j. Albright, Ex-Governor Of Arizona Will
Ham S. Hlyer and George D. Kellogg, believing that
all was not right, went ont 10 where the land
mentioned in the prospectus WIGS alleged to be
located. and there found that swinde OF the most
baref,oed description had been perpctrated In
40 instance the representations made correct
return for the outlay expended on them as they Lad
expected see they found but solitary excavation
and the hotel and outbuidngs described in the pros
pectus proved to be nothing but wretched sbanties
On these representations the magistrate issued war
Pant for the arrest Of the accused. During the after.
noon officer Andre arrested Mann at the Astor House.
and he was committed to await al examination Strsitcn
u absent in the West, but will probably be arrested
IN day or two, officer has been dispatched for
him. Mann, at the commencement OF the war entered
the service a. Colonel Of the 7th Michigan Cavalry.
and while on duty located In and around Wash |
fngton thus enabling him to form the acquaintance OF
many. whom be aftergard induced to enter INTO Ills
bubble petroleum scheme.
The following are the afidavits Of Mr. Kellogg and
others together with the Prospectus Of the company
TESTIMONY.
George D. Kellogg OF No. 367 West Twenty.third st,
testified that on the 5h day of February, l5 be was
induced TO visit W liam d. Mann, at has 1'lce NO
IT, and that said Station did then and there represent
10 this deponent that they had purchased valuable OIL
lands in Ohio and PeEnsylvania Tor the purpose OF
forming an oil company, which bad eventually cost
khem Si5GO and were 10 De put into company when
they were about rcanizng in the city Of New.fok;
that all of sad purchase money had been subscribed for
and in addition thereto the sum OF Si5UO Tor Work.
Ing capital TO develop said lands that said Mann had
been appointed trustee Ia complete such purchase aud
conduct the business until such COMPANY could De
formed that said Mann had subscribed soooo and said
an,s snsscpiSe o. 600 he (,se said MANN would let
6eponeut have e. 600 Of his (said Mann subeeripop
nrovided said Stratton would part with a similar
smonnt of bis (said Stration's) subscription TO which
said Stratton assented IL was further stated ~ that
time by said Mann that said Stratton was aDol Iea'
ing for the West complete the purchase Of and obtain
the titles to said lands: deponent further salth tnal
said Mann and Stratton thea and there exhibited TO him
paper parporting to contain iui description OF sio
lands so have been purchased by them ~
aforesaid and which was substantially tie sime a. Tue
several lots parcels Of land mentioned IN u oy the
tpxln IN no frtIH
-pectus Of tire United Service Mining and petroleum
Co. stating at the same time that the said Mann and
etraton had carefully selected and sao isds
And that the investment valuable one; depohent
further saith that relying upon ana believing e sau
representations OF said Mann and Siraon, as being
entirely true and believing that thew haa pnrchafedhe
said lands and had paid pay therefor In good
faith the sum of $4,000 he was induced TO sub
scrbe toward the same the OF 81 OOo and that be
Subscription deponent further saith thu me snbscrlo
Tor majority Of theml TO The fund Of 500 90 aore
beginning of March. 1864 the deenden Mana, being
presen, and consentug thereto and authorized Gems
". s. Hancock and VIM y HOLMAN o. tue noiied
Chadwick, Church, this Opponent and the defend
ant Mann TO form company nnder the laws OF the
State Of NewYork, under the corporate name OF the
.United Service Petroleum aud Aiming Company"
and directed the trustees 81 said subscribers 10
Wit the said Mann TO convey tie property aforesaid 10
Sad company as organized; that the said eog''
PAW organized about the 18th o: said month the
Trustees aforesaid or majority Of 'hsm assembled IN
onent then and there elected the secretary OF sad
fompany. deponent further eriih that TIE prospcu.
of said Company proposed by me saId hahn ana
pub!sh BY hun about the 18th Of March last aHd was
not seen by deponent until after the same was printed
AUD publisbed: ard that the said Mann repre-
oented to this deponent that al the matters
atated therein true and Tat the sain
Mann and the deponeDt SrafioD, were the
two spoken Of in said prospectus ~ having So
ieced the lands therein deseribed deponent igrtAT
saith that relying upon tho repTes' n'auons o. sild
Mann and StratOn AID upon tie contents oi sbId pros
psotus he has siuce the same was plbnsnel p'cufou
among his friends further subscriptions 10 Inc amount
Of g. 900 toward the purchase oi hid ianes ana mas
Maid the ssms 10 said Mann trOstee deponeht iur
her saith that said Mann has exhibited 10 MN i"e
decd of lots numbered l. and ~ sad prospectus
IRON said StrattoD 10 said Manu. 81 tFustet ch!m
ing and pretending 10 have purchased Tue sane
Of the said Sraton and 70 have paid him therefor
eso1o although said Siraiton was represented 20 lh,'
deponent OF tie parties who selected san Hht
and ~ Ted a. Of the purchasers tbereof INC SUI
pcrioefs " The original purchase money lheio" io '
purpose OF forming a Petroleum company, ana puisu
ant to which arrangement the company aforesaid was
f0rmedi depone nj further saith that hald Mann ba ~
SuTed HIM that lots numbered and IN shid Prospectus
cost. oDd that he had paid therefor s,,OO each ana
shat, fenlnB upon said representation among
others, this deponent continued his connection
with said company, and procured money 10 Dc
paid in and subscribed toward the porehase money
Whereof but that deponent has learned that lot No
was purchased BY contract by said Mann and Strst
Ton for s. 600 and more In January last; aud that
said defendants had paid TO bind said contract So ana
no moie; and that lot No. had been the property of
SAID Mann siuce 1889 and was included in tic convey
snoe Of large parcel Of and conveyed 20 said Mann IN
1852 Deronent further SAITH that upon char gng the
said Mann with these facts, the se1 Mann admitted
taat he had paid for said lot NO. ). ard
thst said lot No. be had pat into
said company for 5000 dcporent ial
ther saith that the .aid Manu- has admitted 10 rim
that subscriptions had been ade 10 said Original fnnJ