The New York herald., 1878-11-23
OIL MEMS CONFERENCE.

THE SUBJECTS DISCUSSED AND THE coScLU-
sIoSs TO Be REPORTED TO THEIR coNsrlT0-
ENclEs IN The OIL REGIONS.
As is well known. representatives OF the oil trade
have held number of meetings lately the proceed
ings at which have been kept profound secret Last
evening. however, HERALD reporter met four of the
gentlemen who have been attending thu 80 meetings.
and from them obtained the following account of the
business transacted Some time ago a number OF
prominent and conservative producers sought a con-
ference with the Standard Oil Company, with the
view Of discussing oil matters aud also for the pur
pose OF trying to better the general condition of the
business. The officers OF the Standard OIL Company
&c led to their request and meeting appointed for
November II, but. for prudential reasons. post
poned to November ~. On Wednesday morning.
therefore. an informal meeting held at the St.
Nicholas Hotel which adjourned to the offices of the
Standard Oil Company, in Pearl street. where con-
ference has been held during the past two days The
number OF producers who attended thirteen. all
OF them conservative and opposed to the radical
views OF the Petroleum Producers Union. They
are;-Richard Jennings. of Queenstown, Pa. Bate
man Goe. Of Petrolia, Pa; David Stewart OF
Pittsburg Pa. George II. Nesbitt Of Petrolia.
Pa; James Graham. OF Fairview. Pa; II. T.
Whiting of Edinburg Pa; Orange Noble. of Erie,
Pa; George Van Blake, of Buffalo +. W. Mitchell of
Oil City. Pa; s. A. Wheeler of Bradford Pa ID. D.
Babcock OF Hornellsvile George Bouton. of Oil City,
pa. and George v. Forn,an. OF Oean, \. y.
These gentlemen were met by the officers of the
Standard Oil Company ami the. representatives of
many of the leading refinery interests OF the country
together with those of the pipe lines and other inter
John d. Rockefellar. H. NJ. Flagler. Of this city and
Colonel 0. H. Payne OF Cleveland. officers OF the
den. Trew Co., and Joseph Bushnell OF Philade
phia and Ptsburg: Charles Pratt, of Charles Pratt
Co.. Of this city, James McGee. OF the Dcvoc Manufac
turing Company, of this city; J. A. Bostwick OF j. A.
Bostwick Co.. of this city, j. d. Archibald of the
Acme Oil Company, OF Titnsville Pa. and Captain j.
j. vandergrift and Daniel ODay, OF the United Pipe
lines.
suBJEcrs DISCUSSED
The conference organized on Thur sday by the
election of Richard jennings of Queenstown, Pa,
chairman. The first subject discussed how to
form such an alliance between the producers and
fners as would lead to better condition of the diff
ferent branches of the trade.
The second point was the question Of retiring the
surplus production. This point was thoroughly dis
cusscd by Messrs Rockefellar Flagler. Nesbitt
Boulton, Graham and Jennings. The question OF pro-
viding sufficient funds to hold the surplus stock until
such time the markets OF the world would make
demand for it at fair prices gone over, and
cusion was reached that considered favorable to
the accomplishment of that object.
The third point the settling of basis on
which price for the crude product should be fixed
by joint committee Of producers and refners rela
tive to the price realized for the refined product
The object sought to bc obtained in this direction
the realization of the highest possible price for
the crude product consistent with the universal
OF the refined article The latter consideration
regarded by all present Of the utmost importance.
Among those who discussed this point were Messrs.
Pratt and Warden. OF the rcfners and Goe. Stew
art and Noble. Of the producers. conclusion
The fourth nopt W was hs 2, in
This considered the most knotty subject Of all
on account of the scarcity of money in the oil
eions owing to the long continued depression in tho
price of the article and the withdrawal Of capital
| from the business. consequent on the dstrust
created by the experiences in the trade The
discussion McsSrs.
Rockeellar, Mitchell, Babcock Wheeler, Vandergrift
ard Van Week The belief was expressed that not.
wthstanding the difficulties attending the question,
favorable arrangement could be made. 1t was pos
itivey asserted that, even in the short time it was
possible to give to the investigation OF the subject
pledges had been made by capitalists positively in
| suring this point
The remaining questions disc cussed related to the diff
ferent interests Of the trade to each othervix pro-
| ducing. transporting, manufacturing and merchan-
dising 1t WAS argued that, in the natural order Of
things. these various branches seemed anagonstic in
their nature. and all their difficulties carefully
considered. was conceded by all parties that tho
great motive in the whole matter 10 redeem the
business from bankruptcy and 1t was thought that
this incentive was strong enough to bring all interests
| into harmony. The question of the Pcnnsylvania
RAILROAD discriminating in favor OF the standard Com
| pany not touched upon.
\. The gentlemen who gave the foregoing account Of
the conference stated that the whole discussion
pursued informally and 1t was thought best not TO at
tempt to formulate Ut the present nc it be-
ing the feeling OF tho producers that would be better
to present this matter to the people OF the oil regions
in general rather than in specific way The confer
ence, according 10 tnese lnIornans, was harmonouS
throughout, and when 1t adjourned sine die yesterday
the gentlemen representing the different interests
parted with determination to work as rapidly az
possible in connection with their constituencies to
the end that early contamination OF the proposed
| alliance may be accomplished.
Some of the firms who are opposed to the monopoly
enjoyed by the Standard Oil Company in carrying oil
the Pennsylvania Railroad said yesterday that
the Oil Producers Association had nothing TO do with
/ the conference They thought some producers had
been brought over by the monopoly promise that
their grievances would bo settled; They expressed
| the determination to oppose the Standard Oil Com
! pany until such time railroad discrimination had
been given up, and they confident that in the
end the courts would decide the matter in their favor