New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-07-18
THE PETROLEUM BUBBLE.

The United States Service Petroleum ana
Mining Con,pany-Imporinns Tcsfi~o-
ny-MiIitary Csntracis-Lis' or Ohsi-
nal Subscribers.
This case was resumed yesterday morning be-
,ro Ins,ice dodge. At the jefferson Market Court
Mr.. Geo ID. Kellogg was the only witness eInninedi
his testimony was quite Interesting ana iu', P'o''D
the schemes and ntrlgues employed by the orgnaioTs
of such Company for ne purpose Of winding caoh
! gro. D. KELLoGG's TESTIMONY.
KNEW Col Mann since lst3 or "a; had been on sood
terms with him but had direct business transactions
with him previous to this oil TRANSACTIONS never ma
sny money transaction with him. and never received
any money from him; had connection win MIN et-
cent that Of friend in introducing bis accousrmens
10 the Government; the witness told Col Mann maj
he could obtain the friendship ~ Gov fenton Tor MN
said ne became acquainted with the Governors
staff. had An account against Col Mann for travelling
expenses and obtained $3.50 from hini Col Mann nau
office at No. $40 broadway fo' bis patent aecon'er
nent business never tried to secure stock ~ the 'o
psny for himself his friends. He stated that coi
Mann and Col. Leder y olnised him percentase ne
could secure contract nom TIE Stste ol New orr
told him he thought ho could procure contract under
stood the Stats wanted o. 600 SETS and was offered 70
cents TO get the contracts reported 10 Col Man,
from time to time the prospect OF getting that contract
but got IT, that Vas previous a. the oTganiton
Of the oil company. witness mover subscribed bat took
DIR. Stephensons share aud paid for u: owned sl2.n
worth Of the stock this took place at Wnhingoni the
actual transaction took place between witness and Mr.
Davis who represented Col Marn; told witness that
he Davis was Manns agent, and gave Davis check
for eco DR.. Stephenson consented "a this arrange
rent; had been told that the list was fu and that was
the only way be (Nitness) could put IN his money;
Davis put down Witness name for 600 600 which
he paid ty giving him "a check; bad mn interview with
Col Mann about the oil business alter bis return ron
| ALBANY: he stated that the Governor examined the
papers that had been sent him. and Lad no preference
but all things being equal he would give him the
preferences lie desired that he should return To New
York. and obtain the figures At which the contract
thing official to go by; witness expected TO make $50
ont OF that contract the Governor stated that there
was a bill before the Legislature requesting BIN
to equip the State miitia, and unlii that
I witness had a statement In writing signed w. ID.
| Mann trustee, and j. T. Davis Attorney, made IN
Washington AZ voucher for the stock; Col. Morgan
aided him in tho contracts for tho Government re-
ceved order for 81 600 accouternents nom the state
Department. paid io his stock IN the company on the
I'D Of February. aid returned to New'iork from
Washington on the 18th day OF March: was INTRO,
duced to Mr. Stratton in Col. Manns office. and had
business conversation with Col Mann himself at that
time; Col. Mann first spoke TO him about the on
Company about the 9Th of February, 1865; Col Mann
tated TO him that they going TO get mp an OIL
,ame in Ohio ard some in Cherry Kun there
several los Of It, and II could DO bought Tor 49,
600 and that he had secured the purchase; that was
big thing that Geo. 900 had been subscribed s43oO
principally among army men, and that lie had taken
$1,000 worth, StrsttOn had taken 5000 worthi Col.
Mann and Mr.. STatton offered to let him have thou.
never svailcd bimsef In that way; nothing
was then said Of Dr. Stephcnsons subscrpt witness
knew DR.. s. at this time. and was Al intimate
friend Of his; did not know whether the lands
we're productive Of oil, neither did BIO know
whether the adjoining lands produced oil or not;
had knowledge at that time OF the real or prospect
i've value Of these lands, never was engaged IN oil
business before; at the time no took Dr. Stephcnsons
part he knew that Gen. Hancock. Col Hillyer and
otherj armyl men Lad subscribed and great many
Of them were his personal acquaintsDces but
he was not advised by them 20 subscribe;
was informed by Mr.. Davis that DIR, Stephenson never
paid In the full amount OF his subscription neither had
be Uhe wtness) paid in oil bis; made Secretary
of the Company on the 18th OF March, n meeting OF
the original subscribers was held on the Sd of March.
title did at different times advise parties 10 subscribe
to this stock. ard they have been made by William
Swinton, Robert $. Davis and James Eiverson Col.
Mann elected Vice President and Manager OF the
Board and has not been removed from that position yet
and he still holds the deeds papers documents and
titles In bic possession which the company claim ~
their property. Previous to this eIJudge Stewart
asked The witness about the subscription list and Mr.
Bedford said the paper should be put in evidence Mr.
Field sod he did not want to give up tho paper after
considerable discussion between tho council SIS to What
should DO done with tho paper Justice Dodge decided
that il should be left with the Court The following il
the document with the names Of the subscribers,
following snd. half Cherry Nun or OK Greek
Penn to be selected by the trustees hernats
nslned one-ha In Liverpool Ohio, being part OF lot in
which tho flowing oil we'll Known tho OF spring lot 10
being the Fierce isIn adjoining tho Kissing oil we'll In
Grafton Ohio.
Ono acre with hotel aud barn. being the Grafton Hotel
property. In Grafton Ohio.
A,o 10 purchase leases Of the following property 900 4cres
In Grafton Ohio Known the Brown farm esse for 70
wears with tLree-fourths Of the oil
One hundred In Fedesl Greek Athens County Ohio
near many producing oil wells Lease Tor Is years with
four.hfhl Of the oil.
We N. said subeber do hereby appoint W. ID Msnn Of
New ok our trustee, to effect ,sd purchases ard do
hereby invest him. the ssd w Mann, with full aud
authority to and In himself trustee the
title TO said and. charging porchs'. and all needf
the fund hereby created holding the balance Of
suid fund subiec; to tho order Of said subscnbor-
For received do hereby u;rrr TO pay on demand
20 tho trse. above named the several sums set opposite
names respectively II Is aEdssood and ssreod that the
object 81 said subscrbers IN purchasing 'eid hnds the
formation company association for the production Of
petroleum.
further understood and agreed that the above lands are
10 cost 0O and this subscription be increased "a ttoVO
that there may be at working capital o. fi9M
| WIZ" EEw YosK, February 1855.
Cleveland D. Strs,ton, 5000 do NJ. r. Psyns $500
Amy, j. n (roIpy, flcoi ws.hny,on' r. n S,ebbns
SI 90; New Yori ". ID. Mann, eo,6o; Army w: A. La
Mette 10000; do T. Roland 81 600 do W. Mi'che,l
A 10; do J. Is. Potter Huchins. Sl,0Ili do, T.
6imond 4 900, do. W. s. A. Barbour, elcc; do - A.
Mnhs 5000 w..hinst9n, Frank e. pavi, eiV!; ,a H.
= rs. WJ.a tL.ssi W. 5. l-ss, $780, Gee Il AssAl