, 1880-07-12
MANCOCll's OIL COMPANY.

The Ups md Downs Of a UoEus OIL Spec.
ulatlon. or Which tsNInj,-Gen. W. $.
Hancock" Was presitlcnt-Inception
OF n Cunniugly Devised scheme OF
Syvlndllng-Bnrating OF tlse bubble,
and Arrest and Disappearance OF tho
Autlspr-
WAsIuNoroN, July 9.-The Hnncock Oil
Company exposure is attracting much atten-
ton in New York. Tho Tribune prints
many "details concerning the organization of
the Company. In an Interview with ". C,
Church. editor mud proprietor OF the ATrlu
and Nupu Journal, who was advertised III
his own. journal for i've weeks rs Treasurer
OF tho Company, he said:
1.-THE short period covered by the life Of
the Company Is now good many years dis
tant nt,d may not recall from memory tho
precise fucts you DESIRE j" j0lueds the. Cons
pally upon tile representation of a nun who
took the liberty himself Ut elccting mo Trcas-
urer. When r was Informed OF this
act sent him word TINT I
could not and would not accept
tho position, whcreupon lie came to mo and
said that as he had not doubted OF MY accept
ance he lad Issued all tho circulars Of the
Company with my name as TINT of Treas,lr-
or, Md TINT pcreinpto1y refusal OIL my part
would cause the Company the greatest chi
barrassment. Looking at tho matter from
this point Of, view, consented 10 tic use Of
my nnmo until tho noxt meeting Of the Conn.,
mlttec, with the understanding that the
Treasurer should then be elected. never
Qunlldel rs Treasurer, and never acted In
TINT capacity"
"Were there ever my returns made for tho
money inycsted2"
~ think. not Certainly there wero mono
tllat ever heard of. know that never re-
Ssiysd col; ;s,oni ainyt'ng on account Of my own in-
Ths fact that Mr.. Church, although never
such. ulluwet! hts tnlNu to 10 through NIL tho
army circles III Ills own newspaper rs TrcMs-
urcr for ttye weeks, is one Ut the curious feat
Ths following 4 are III ue sl ,aaiS POINTS Of tho
Tflbune's history Of this Coulpany:
army officers who were stationed In W,lsii-
tSn 5 rst II lS @ %,Sut Ms p poafHTs
cock, for, trusting Iii his business sagncIty,
Ectorre4 .1s 1,t 70 IN tho above dlspstch, Of which
=. Thelr loss Of every penny by tho invest
incnt @ was Nude the M0re l{riuvous by tho fuct
tilAt Hancock, aMt Ills adVlse3 Ind not taken
! thosg precautions u investing their money
woS wd Hhlxns hSvs an q ot%,ary r. @y Ess1s ,hr nyy qy
froIn ultAafe Investment. Ihuy Ind put Into
tlleir hands tho prospectus Of the Unified
service Petroleum Company, written In tho
a'FHe Ill., esas as4iy h|stoay S'Se u The Company had
peeh al interesting one, hut this VIA careful
y concealed from army. officers who were
nSktd 70 tnke stock ~ It under Con.
#f #ffssf s. Yias as, Il T. s Fs"t sstent a' si eS:
SS SaSah had O. 1ndyy diy tsnsra fnssr21 5 tlo% s
Ssy Hstty ~ TIC army over ~ ysar hefore, Ani l.o
accoutron.ollts to his lato ea1nr,.Ies. It wls
stated under ontll iii court afterwura that lia
Ind otEeret! largo commission to stt]lre HIN
eontrncts for These cnvalry Acknowledgements,
prnAt ,of. over SW, GOO. =,
Early iii tho winter Of 1905 he turueA hia
attention TO lew HELD Of speculation. ThereE
WAtcli had bsan ali annual "crnze' OF tho,
financial world. ever stnca tho trst discuv-
srseS ~ rsnilsylvniin- Tho luwapapers wer0
filled with advertisements ANNOUNCING tho.
psce til Il HM sosS y II nfs e'!., IN
ssylvanln wero tlarolIget with oil BWcuators.,. !.
MaMns il eyes were caught by thls
tLesGt thaost oh sss sssaso Snd s tnsn sy Ds
ha4 coMc Into Ills possession, III lNsD
It l!a. long l,eeis NEGLECTED az WORTHLESS land.
sffsf @ thg $,I, n,Hlldlnxs s pa ,l{t had fallen lnt
GOULD not 30 done in lia iway 0f Speculation!
III oil2 Thu !a.ui could o reprtAenscl rs
ghintnE with oil, n1su ute buildings VI 'vcrita-
b!e palaces. 1ln luturl!ilsA To orKnnizu u,
gil conlpany, with the Grafton property Nv ia
1o!tndatton ,sione. Ito al first tlonght Or
calling It tie Washington Petroleum, C0iii-s
lael!ts vt Washington! u. q. Then hs lad
golden Inspiration. lie, perhaps, WAS lwasu
tAnt even English nohleMlcn l,all been known
to permit tiie tiso Of their NMnts ut tls Aeal
aud That their nallles Impaired confidence u
lul4ruls Ut men DESIRING to Invest money,
AMI led them, III l!uy would not l!aye done.
officers vt those companies. Why not put
n the head Of tho proposeA e0n,paiV sumo
!llnstripns army officer, wtl0sA l!An.o
in tho army that d ltotlsscllld would
have to- regulur 4eAter In stocks. The !.ebell-
lon was evidently neartng Its eh.l: wash.
h!Sto %aa w q 9tlisYrs o! us't l}onsWst4 , su'