Albuquerque citizen. [volume] (Albuquerque, N.M.) 1907-1909, 1907-09-25
GENERAL AUDITOR
HAMPTON TEST|F|ES
Says That He AuditS All depart
ments of Great Concern But
That Books Showing Trans
ferS Are Not In His
Charge.

new York, Sept. Z5.-The line of
questioning started by the standard
attorneys yesterday was continued
today and it is now an assured fact
that they will attempt to show that
the oil trust does not enjoy the mon
opoly claimed by the federal govern
men, but that the Independents are
somewhat to blame in the fixing OF
prices for oil ~
Wade Hampton, general auditor
of the Standard Oil company, was
again on the witness stand Tor a rev
moments today when the hearing In
the federal action for the dissolution
of the oil combine was resumed. Al
ter testifying that he audited all de-
partments of the standard OIL COM
pany and stating that the books,
showing transfers of certificates and
of stock buying during the llquidat-
ing periods were never kept in ms
office, he was excused by Mr. hei-
logg. who said he would likely call
Mr.. Hampton again.
Purchase of COrslcana Co.
H. C. Folger, director of the Union
Tank line, told how he and c. M.
PAYNE bought the Corsicana Oil COM
pany of Texas with funds furnished
by the National Transit company, a
Standard subsidiary, and held the
stock i'm their names until 1888, when
they purchased the stock from the
Nat1OnaI transit company pSCduSe VI
antitrust legislation.
Folger said that the agreement to
buy the Corsicana company was
made verbally with John ID. Arch
bold. The witness testified that the
management of the Corsicana com
pany continued unchanged ana Its
accounts were forwarded to Mi
Chesbrough, No. 26 Broadway, the
New York headquarters of the Stand
ard Oil company.
Standard Shifts Blame.
That the Standard Oil company
will try to show that the independent
companies are to blame for many OF
the misdeeds with which 1t is
charged was indicated by the testi-
mony at the oil hearing here today
In cross-eXamining a witness, John
G.. Milburn. counsel for the oil trust
sought to show that the great stand
ard is a much abused corporation
that it is charged with iniquities OF
which it was never guilty and com
PEELED to carry a load OF publlc op-
probrium far heavier than it de-
serves
Not Monopoly?
According to the line of question
ing followed by Mr.. Milburn, the
Standard Oil company does not en-
joy a monopoly of the oil industry, i
does not seek to crush competition b!
lowering prices to a ruinous mark
ting business by the independents
who begin the cutting of prices t(
drive the Standard Oil from the field
1t has not a monopoly of the oil ex
port business, and, far from attempt
ing to bring Independent competitor!
into the trusts fold by unfair means
it takes them in only after they hav'
stood for years, knocking as suppl
cants on the Standard door.
Spoiled Some Evidence.
It was an apathetic picture tina
Mr.. Milburn, IN his cross eXamina
tion, drew of the giant oil trust, AT
ter getting the witness to testify tina
the stock of the Standard Oil com
pany was held in varying amounts b,
more than 5000 persons, Mr.. Mil
burn took up the question of the al
legged export monopoly. His questio
elected the fact that there We're a
least seven independent concerns Il
the expectation of oil and that tn
Standard fixed no price on export oi
further than to stipulate at wha
price its oil should be sold in the for
eign port 10 which il was consigned
Later Mr.. Kellogg detracted some
what from the force of this testi
mCny by compelling the witness I
admit that i'm the case of at leas
one of the seven Independent export
ing companies the standard hel
about one-third of the capital stoc
and had tried to acquire CONTROL
ing interest.