New-York tribune., 1907-10-10
TILFORD CAN'T RECALL.
KELLOGG rs SURPRISED.
Little Item of Thirty Millions Slips
His Memory.

Tho prosperous state Of the finances of the Stand
ard Oh Company was shown still further yesterday
IN the hearing OF the governments suit to dissolve
the corporation. when it was made known that at
the end of the year 1906 the Standard Oil Company
Of New York had accounts receivable Of SS2 76l-
esO6s The Standard Of New York is one Of the
subsidiary corporations OF the great Standard of
New Jersey. Wesley H. Tilford is vce-president
Of the Standard of New York and treasurer of the
Standard OF New Jersey, but all the information
he could give about this item was to confirm the
statement the balance sheet that it represented
'1oans 10 other than Standard OIL interests
why. Mr.. Tilford.'' said Mr.. Kellogg ''as vice
president Of the Standard OIL Company Of New
York you ought 20 know something about this
loan?" But Mr.. Tilford confessed he had no recol-
lection OF II. even If II were made only last year
The astonshed government lawyer wanted TO know
who would know about II and Mr.. T1Iford suggested
William g Rockefeller. treasurer of the company
and William P Howe. assistant treasurer. It IS
probable, therefore, that at least one member OF
the Rockefeller family will have an opportunity
70 tie stand during the present investigation
ss Mr. Kellogg declared his intention Of finding
out further details.
Through the production of records Of meetings Of
the subsidiary companies Of the Standard Oil held
during 1SsS-H Mr. Kellogg succeeded in showing
that the 'liquidating trustees never really Huul-
dsted the companies under their control except 10
retain that control when they were supposed TO
dissolve the original trust. The record showed
at these meetings the trustees as individuals
or as trustees. No others could participate be-
cause, as Mr. Tilford said only a reasonable ma
5ortty OF the trust certificates were cancelled"
These belonged TO the Inner group in control.
In an EFFORT 10 get at figures which would show
what II really cost the Standard Oil Company to
pipe oil. Mr. Kellogg asked George Chesebro
auditor of the National Transit Company which
controls the Standards pipe lines for further in
formation 10 the of g 6o7 So % credited 10
P. S. Trainor in the profit and loss account of the
Southern Pipe line Company on its balance sheet
FOR 1899 Mr.. Chesebro had gone over the books.
but all he found TO set against this item a
journal voucher of the Standard Oil Company Of
New York. Mr.. Kellogg seemed TO think II was
queer that such a large should be given TO
Mr.. Trsinor without any return for IT, but Mr..
Chesebro said the books revealed nothing. He
could not say whether 1t for the operation OF
the Southern's pipe line. Similar large cred
tied 20 Ar. Trainor Mr.. Chesebro could not throw
light or He did know that these yearly loans
Of millions had been returned to the South
ern company but presumed such big loans could
be made by the pipe line company. because they
were rot Immediately needed" Mr.. Trainor buys
the crude oil for the Standard companies. and on
the balance sheet OF the National Transit Company
for leo there IS charge of rs o54279 accounts
cevable." against his name
The present ownership OF the "crosstown pipe
Hne' cleared up by Mr.. Tilford yesterday.
The Standard OF New York acquired it from the
National Transit Company January %. 1892 for
SS.22s S. but Il is now valued at ss4,0s4 81.