The evening star and Newark advertiser., 1907-09-25
Gives List Of the Companies
Whose Stock 1t
Controls.
HIS WORD FOR MILLION
Eiew John D. Archbold Arranged
the Control OF the Corsicana
Refining Company, the
Trusts Concern Now
Operating in Texas.

NEW YORK, Sept. 25.-Wade Hamp-
ton, general auditor OF the Standard
OH Company, was again on the Wit
ness stand for a few moments today
when the hearing in the Federal action
for the dissolution of the oil combine
was resumed. After testifying that he
audited ali the departments of the
Standard oil Company ~ New Jersey
and stating that the 3 S showing the
transfers of certificates and stock dur
ing the liquidating period were never
kept in his office, he was excused by
Mr.. Kellogg, who said he would likely
call Mr.. Hampton again.
Mr. Milburn, of counsel for the
Standard Oil Company, submitted to
the governments counsel statement
showing the capitalization of the va
rious companies in which the Stand
ard had stock control. The statement
was entered on the record without be-
ing read.
Mr.. Kellogg also placed ON the record
a copy of q contract which p. G. Bene-
dict testified had been entered into
between the Indianapolis Gas Con-
pany and the Manhattan Oil Conn
pany.
Henry C. Folger, jr.. who, with c. M.
Payne held stock control of the Corsicana
Oil Company, of Texas, followed Mr..
Hampton on the stand. He said he is con-
neeted with the Standard Oil Company of
New York, director In the Union Tank
Line Company and general manager of the
Long Island refiner$es of the Standard.
'sDo you confer with others in regard to
refining oil7n was asked.
"Yes l have conferences with general
managers of other companies" said Mr..
FoIger These conferences were held at
26 Broadway, the main Offices of the
Standard. Mr.. Folger said he kept, the
records of results of the refining of oil,
which were sent him at various periods
from the various subsidiary companies.
THESE statements showed the manufacture
ing cost and YIELD and the facts We're
tabulated and kept in his office Tne
witness said he made suggestions TO the
officials of subsidiary companies to Inn
prove the results of the operations or
their refineries.
Mr.. Folger further testified that he and
C. NJ. Payne own. the Corsicana Oil Com
pany of Texas This companys refinery at
Corsicann was built with the money Of
the National Transit Company, Of which
MIR. Payne is the vics-president, the Ma
tional Transit Company having in 1888
loaned Folger and- Payne s94o,717 for that
purpose No notes or security was given
for the loan.
The books of the Corsicana Oil Company
are kept in the Office of the National Tran
sit Company in Oil City, Pa, Mr.. Folger
said.
The actual ownership of the refinery was
with the National Transit Company until
1906 when il was sold to Folger & Payne
for about $9s2000, who undertook TO pay
for 1t in ten wears. according to Mr.. Fol-
gers testimony, who said they talked the
sale over with John ID. eArchbold No cash
was paid. Mr.. Archbold said the price
represented the investment Of the National
Transit Company. The company always
stood in the name of Folger & Payne.
There was no agreement to pay any def
mite amount of money yearly on the pur-
chase price. on which per cent interest
was paid.
"Then the operation of the Corsicana is
going on just the same as before the sale
to you?' asked Mr.. Kellogg.
practically so" answered the witness.
How much have you ever paid on ac-
count of the sale?"
II think 100000 at the end Of 1906, re-
piled Mr. Folger.
Mr. Folger said he did not understand
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