New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-08-02
The Forest County, PA, Petroleum and
Mining observation-disclosures Of
the Alledved Fraud.

The preliminary investigation into the Forest
County Petroleum and Mining Speculation. in which
Mr Frederick A. Howe OF Meadv;lle. Craw ford County
Pa charged with fraud by Mr. Nathaniel Sheldon Of
Brooklyn n. Y. commenced yesterday at the Tombs
before Judge Dodge. Mr.. John Sedgwick appeared as
counsel for the complainant and ex-Judge Stewart
Mr.. John Van VOORHEES, of Rochester, and Mr. Henry
C. Boss Of Titusville, Pa for the defendant.
Mr.. n. T. Sheldon being sworn, deposed that he
knew Mr. Howe four years. and that about last March
Mr. Howe spoke 10 him about this property In PeInsy'
yauia; he stated that he (Air Howe came 10 New
York FOR the purpose Of organizing an oil company and
that he had made arrangements with Messrs. Pratt,
Girard Bckiey TO organize company for sloOOvO
that certain persons owning portions a this property
had iDtefced and broken up the arrangement tha ne
had made between the parties; be also stated
that he was the original owner Of the property
aud that he lad sold certain undivided interest to DIFF
tercn. parties and wanted me g. purchase that interest
of those whom he had sold that In consideration OF
nv doing this that should get the controlling IN
tsresf in our hands should have the management OF
organizing company hero In New York, the capital to
be 81 000O0; that they had worked on hs property
during the last year getting off lumber, OF which there
large quantity sawed at the mills. and IN market
besides some logs that together with moneys on hand
would realize before June l. 1865. all should invest
Ia IL that there reservation to be made 81 lumber
the property for the benefit o the original owners OF
i've millions Of feet pcce,and that by becoming pur'
chaser of the interest would have share in that IN m
ter most of which was pine and cherry OF the best
quality; that the pine so and the cherry Gao per
thousand feet; that there from two to three million
and other tmbers that he bad been on this property
frequently and knew this 10 be tho fact.
no also aid that there large coal and iron mines
on this property that the coa mine had been opened
used and proved 20 be OF tie choicest quality that
they had leased portion Of their land to Rochester
q ompany who had three engines 10 work and we're
putting down wells the time about 100 TO 80 feet
desp: that he also purchased his way 20 New ORR
three engines. which were being then sent To
The Propey; that he PAID for these ensia ,ss
sae OF lumber; that they were 10 go TO the
n,w company without any COS, or charge be also
stated that there oil well on the upper side of
this property on the lot dpiung. known as the Fox
Well which had produced OIL FOR three years ct the rate
OF from two 10 three barrels per day be wanted me g.
purchase .th end Lob which was 10 BE- purchased
IRON parties living 10 Warren or Crawford County. and
oue at Readve he did not name them the other cit
,eenth 10 come from Ettenheimear aud Eh!es o'
.ocl ester the interest OF B'al O. cost e5O with
an assessment the other sixteenth was 20 cost 5000
with assessment this last portion was 20 be pur-
chased by ne Jointly with parties Ia New-iorki
after these Arrangements had been made we went 10 a
10 have tie papers drawn up; Mr. HcrTick was
present; this the interest that the New-York
Da-cs Interested in costing g. 90; the papers
we're 10 have been made in Mr. Herrcks name. but the
latter objected account OF hls not being well ac-
TAINTED with SIR. Howe. and they were finally drawn
e N! name; after tie papers we're signed Mr Howe
A1d his brother went 10 the ST. Nicholas Hotel where
: met him the day aud told him that ! would pay
Inn the money those tracts there were no papers
lrawn in reference TO the e. OOJ interest told him
fhat thought there was no necessity fOr drawing the
papers that interest. but after talking the matter
over W" determined to have them drawn. then paid
lim the money, - 600 he proceed 10 Roche
&c pTOcGTe the deeds then to 20 10 Mealville and
Warren County and obtain the other deeds; this money
Tas paid about the Goth March, and In paying IT
Iei on the statements Of Mr. Howe 10 It's value
Complainant went 10 state further that he on
TIE property and that be found the representations 20
% untrue as far rs he could that he met Mr. Howe
after ward and mentioned the matter 10 HI NJ and that
Mr.. Howe told him he knew nothing about mining
nmber SC.
At ibis Stage Of the proceedings Justice Dodge stated
tb2i would be impossible owins 10 the pressure Of
business before the court 10 30 with the case and
Dat would have 10 be adjourned 10 the latter part Of
+1gus'. Mr Stewart. for the defense hoped the ex.
ai0ination might be brought close speedily IA
poSsle. Tie defendant was anxious that this canse
s6ou be pursued, rs his reputation likely 70 suffer
AID his business % be ntrr'crcd with by tho pubca
non OF these charges through the press without the re-
Uniting testimony which he prepared t. bring for.
ware. MT Hove had brought cloud Of witnesses
T aeariy ~ III number. % stfy IN hi, behalf