The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-12-02

for the Peoples Gas, Light & Coke
company of Chicago. A contract was
entered into, Mr.. Archbold said, but he
did not know the terms of the con-
tract.
Don't you know that Mr. Brady tes-
titled year ago that that contract was
worth S1.300,000 to the Peoples Gas,
Light & Coke company
Il do not know"
Mr.. Archbold said it had not been
suggested to him that one of the condi-
tons OF the sale of the Manhattan was
the contract given to the Peoples Gas
company. The witness said that for
many years James Macdonald was
manager in England of the Anglo
American company and severed his
connection three or four years ago.
Big Loan to Macdonald.
Mr.. Archbold's attention was called
to the loans of 81. 100000 which the An
glo-American company had made to
Mr.. Macdonald, but he said he knew
nothing .of them. .,...
About this time the General Indus
trial company bought the Manhattan
Oil company. Mas the Macdonald loan
Cor that purpose?"
Il don't know said Mr.. Archbold
viii you produce the London books
of the London Anglo-American compa-
ny?"
81 don't think have the power. I
am not a director now"
"A list furnished by your company
shows that you were elected a director
of the Anglo in June. 1907"
Il think l resigned shortly after
that
Did you resign as a result of this
Investigation
Il should not say I did"
Mr.. Arehbold was asked to produce a
list of directors of the Anglo company
at this time.
Archbold and Rogers Resigned.
Mr.. Arehbold said that Mr.. Rogers
and himself resigned from the Anglo
company; that men more directly con-
nected with the company could take
their places. The witness said he was
not sure that Mr.. Teagle resigned.
The attention of Mr.. ArchbCld was
called to the evidence of Mr.. Brady.
who testified that assets worth $780,
GOO Were paid for the contract. and the
General Industrial compenay negotiat-
ed the contract for the Standard Mr..
Archbold said he had no recollection
that the General Industrial company
had anything to do with the contract.
The witness said he could not explain
the loan to Mr.. Macdonald and had not
investigated il.
why didn't you investigate it?"
Il did not feel called upon to-do So y
will you try to find out about the
loan?"
IF my counsel 50 advises
Indiana Pipe Line.
Mr.. Archbold. Intercepted about the
Indiana Pipe Line & Refining company.
said he was under the impression that
the Standard purchased it.
who was behind the company7-
THE Cudahys of Chicago, 1 believe -
Mr.. Archboid said he understood the
Corsicana Refining company had been
built with the Standards money. He
was not aware that the money fur
nished for the Corsicana company only
appeared on the Standards books as a
loan TO Folger & Payne.
How is it held now?'
"Folger & Payne are paying for it.
The vexatious conditions in Texas
made us want to get rid of it"
will you produce the English books
of the Anglo-American company"
II don't believe I have the right
Mr.. Archbold said that under advice
of counsel the legal ownership of the
Waters-Plerce OIL company was held
by c. NJ Pratt and NJ. NJ. Vanburen,
Mr.. Archbold's son-in-law.
Mr.. Kellogg called the attention of
the witness to the testimony that the
Waters-Pierce company was an indie
pendent concern
Mr.. Archbold told of the Standard s
business relations with the Tidewater Pipe
Lin company. When the Standard OBJ
tanned possession OF 81 per cent of the
Tidewater stock, il took over several
small Independents at the seaboard
Our purpose in securing these indie
pendents was to succeed to their volume
of business added Mr.. Archbold. who
told of the construction of the Crescent
pipe line and the United States pipe line.
Purpose of Spying.
The witness said the stock was bought
in the United States pipe line for an in
vestment and to know what was going on
Mr.. Kellogg asked the witness IT, after
the Standard had purchased 50 per cent
of the stock of the United States pipe line
the other stockholders OF the United
States pipe line had placed their stock in
trust Mr. Archbold said he understood
that was done
You testified before the industrial COM
mission that the United States Pipe Line
company was a trust2'
Yes. il is a pure unadulterated re-