The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-07-26
How the Cash to Organize Com.
panies is Raised.
A LITTLE ABOUT OILY CANNON.
THE PROSPECTS OF THE COMPANY.
FURTHER Development
&C., &C., nc.


the only occupants Of the Outside the read
ing the in tho HERALD there is evidently in.
terest whatever felt it, and counsel should endeavor
TO bring II TO close possible. There are
many In this city who feel that they In
positions than Mr. Kellogg-many whose hard savings
have been taken from them under pretences that profit
only would accrue from their investments and action
no prosecution whatever will arise therefrom, although
the whole thing under which they were induced to
speculate was dslusion and a snare.
COLONEL HILLYER's TEs-,MoNy.
Ke-examined-Had looked eor memorandum contain
ing bis ecs9uns with Colonel Mann but could not find
II; mad no regular book account might find the memo.
randum referred TO- The checks dated August IT, 1884
Tor $500; check dated March 8, 1885, for $500; one
dated November IT, 1885, for $780, dated February
1865, for $780, and dated September g. for $780,
all drawn In Colonel HIyers favor; some of the checks
wore drawn by Witness rccorects having received $50
besides the $500 note he received from Mann spoken
Of in his previous evidence; the $500 note made
in July 1894 had drawn Colonel Mann for 5000 when
he wtness) was in Savannah; could not say what he
had received from Colonel Mann without his bank book
Colonel Mann kept his accounts the Park Bank and
he (witness at the Chatham Bank hover had any dis
pute with Colonel Mann.
The following paper, marked Exhibit +, was then put
in
COLONEL HnLyERs RECEIPT
v MsISr General v Hancock President Mann
treasurer; v. Tllyer coSnssl POST 6lnes $3.50
OFFICE or TIE UsTED SERVICE ~ PTInoL 1 ASD(
....,v., :, " MINING ~' dsT Tsas 8; s&
days in u sfs ali
o. mine to the profits in any contract heretoe made FOR
by said draft promise to pay on demand said Mann
S % sas M ass" due to parties
Re-drect-Had received 50, 400 on the foregoing
checks there we're three checks not endorsed by him
the check from Mr. Marks for 81 600 he presumed had
ceipts would not have reached 81, 400; Colonel Mann
had received money from Mr. Gaylord account Of
tain bills for accouements Colonel Mann had held two
thirds of the amount for himself onesixth for Boston
parties and oncsixth for witness; in the settlement
with witness Mann said he had charged 81, 900 on &C
count OF witness subscription to the oil company; he
(Mann) then changed the amount to 81 000 and Mann
had in that way 900 Of witness money in his hands to
pay his subscription that was about the LIST of May at the
Office, 240 Broadway, had conversation in May 1884
about the cost Of the oil lands, at which Mr. kellogg
stated that no had paid $4,000 for property No.
l, $4,000 for Nos. 2 and 3, 5000 for
No. s, $500 for No. g.; thinks he paid $500 for
No. 4, and Nos. 8, and 10 cost more
than the expense Of procuring them: recollects
interview with Stratton in which he wtness said that
II he should collect the subscriptions from the mem
bers he and Colonel Mann would have to pay fifteen
thousand dollars to the contracts the next day Mr.
Mann recommended Strtton for the secrearyshp; the
stockholders in Washington had recommended witness
for the Office u was the representations OF Colonel
Mann he had invested in the company; was with him
daily and talked about the matter with him; had parted
with his money on the faith Of Mr. Manns representa-
tons knew subsequently by Mr. Manns own admis
sions that his previous statements were not true.
MIR. GEORGE d. KELLOGG RECALLED.
Tho original prospectus of the company then put
in. The officers named the original officers OF the
company; IL is republication Of the original prospectus
@ Is this tho original prospectus and present prev
ing prospectus of the company II Ia republication
Of the original prospectus Is the present prevail
ing prospectusy A. No. sir; @ Is there another pro.
g. 240 Broadway, Office Of the company, written and
published by Colonel Mann; exhibit has been printed
nna CT the
you publish il the prospectus Of the
company A. Yes; published II az prospectus of the
company In May, 1865. @ Did you publish il In virtue
Of your Office a. secretary? A. Published it as one OF
the trustees and executive committee OF tho company
alter consultation with other trustees Is this the
last printed and published prospectus Of the company?
A. II Is. far as know O. Is not this correct copy
Of prospectus issued by defendant an officer OF the
company A. II is copy Of the prospectus issued by
Mann with changes-nstead of the name w. T.
Church, Treasurer the name Of Hastings inserted and
coil developed the Grafton property in the operations
Of this company since the Isl OF May the sentence
cut out in the original 1t appears instead Of on the
seventh page the third Of the later prospectus
and the later also appear the Of the subscr
bers to the original purchase money Of the lands con
tanned IN tins copy sne mat 10 not appear
" the issuance of this prospectus Exhibit e. A. Ex.
hibit published during the absence Of Mr. Mann
q Did Mann know was he advised Of the publication OF
it2 A He was not consulted about IT, q Was the state
ment true that oil had been developed the Grafton
property A. Did not know that; got all his nforina
ton the subject from Colonel Mann tecgraphed
10 his knowledge TO General Hancock that oil had been
developed the Grafton property; had written to Gen.
era Hancock and others in May informing them in sub.
stance that the oil had developed the information
taken from telegram from Manu. on the subject;
gave them substantially the substance OF the telegram
stated 10 them that he had been shown telegram from
Mann setting forth that oil had been developed in the
property in Ohio. O Look at kilograms and q, and
say " they mailed with your knowledge and appro
bationS A. Never before; know nothing about IL
when they mailed know nothing personally Of the
statement set forth in the prospectus all his information
the subject had been obtained from Mann; Colonel
Mann never told him the statements false
and had now no personal knowledge OF the fact j.;
nsse T e and @ 0
Federal creek, Athens county, Ohio had no knowledge
Of the property marked Nos !, 8, and 10, property
purchased, stated by party FOR the company: the
statement that property purchased by association
of forty i've gentlemen representing the company was
so purchased he had been informed by Colonel Mann
true. q. That Mann told you this property had
been purchased In this way; do you swear TO thap
Yes sir Mann told me, in the carly part OF February,
TO my recollection Mann told me he had contracted for
the property, and that he anxious TO form a com.
pany work IL Of the original organizers Of the
company understood always that came IN as an orgl
nal subscr Der the company; the subscription by
taken in Washington city, by taking part OF tho
Stevenson subscription, M understood with the know
ledge consent and appreciation Of Mann do not think
that Stsvensons name was mentioned between myself
and Mann any OCCASION In connection with the pur-
chase Of the subscription could not say that Mann was
after had purchased It; cannot say that Mann
Of II not informed that the statement set
forth In the prospectus that the company could
work in May was not true; had Information
that oil had been developed from Colonel Mann;
know OF tho name Of Albright acted M agent for
tho company 10 my knowledge he did not go out TO the
land previous 10 the formation OF the company; Albright
now In tho service of the company subscriptions,
the best OF my knowledge have been received since
the st OF May the Office Of the company Is still open
the company TO my knowledge has issued no business
prospectus since May Mr. Marks was given six hundred
dollars 10 vork the ground draft was drawn la his
(Marksl favor and witness handed the draft TO him.
still secretary Of the company, and regard myself
whose ground are you squattingf Mr. Pomoroys, the
owner Of the property; am still secretary Of tho com
pany occupyinSthe room Of the company No. 0, 24o
Broadway
AT this stage the case adjourned TILL o'clock TO-
day
The National Loan.
PmLADsrruiA July o. llcy