Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-12-02
HE Is scRuPuLoUs.

pany?"
HE IS sCRUPuLoUs.
II don't think have the power. l
am not a. director now"
"a list furnished by your company
shows that you were elected a director
of the Anglo in June, 1907
II think l resigned shortly after
that"
did you resign as a result Of this
Investigations"
II should not say l did"
Mr.. Archbold was asked to produce
list of directors Of the Anglo company
at this time.
Mr.. Archbold 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.
Tho attention Of Mr.. Archbold was
called to the evidence of Mr.. Brady,
who testified that assets worth $780,
900 were paid for the contract for the
Standard. Mr.. Archbold said he had
no recollection that the General Indus
trial company had anything to do with
the contract. The witness said he
could not explain the loan to Mr.. Mac
Donald and had not investigated it.
why didn't you investigate it?'
II did not feel called upon to do so.
..Will you try to find out about the
loan?"
IF counsel so advises"
Mr.. Archbold Intercepted about the
Indiana Pipe Line and Refining conf
pany said he was under the impress
sion that the Standard purchased 1t.
"Who was behind the company
4The Cudahys Of Chicago, l be-
lieve."
Mr. Archbold said he understood the
Corsicana Refining company had been
| built with the Standards money. He
was not aware that the money furnish
ed for the Corsicana company only APP
peared on the Standards books as q
loan to Folger s. Payne.
How is 1t 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?'
IT don't believe / have the right.
| Mr., Archbold said that under ad-
Vice of counsel the legal ownership NJ
| the Water-Plerce Oil company was held
by c. NJ. Pratt and NJ. NJ. Nanpuren.
| Mr. Archbold's son-in-laW .
| Mr.. Kellogg called the attention or
| the witness to the testimony that the
| Waters.Pierce company was an inde-
| pendent concern.
Mr. Archbold told of the Standards
business relations with the Tidewater
! Pipe Line company. When the stand
ard obtained possession Of 81 per cent
| Of the Tidewater stock, 1t TOOK over
several small independents at the sea-
! board.
| GATHERING UP POLICY.
"Our purpose is securing these nde-
| pandents vas to succeed to their Vol
| ume of business" added Mr.. Archbold,
who told Of the construction OF the
| Crescent pipe line and the United
states pipe line.
Tho witness said the stock was
bought In the United states pipe line
| for an investment and to know what
was going on. Mr. Kellogg asked the
witness if, after the Standard had pur-
| chased So per cent of the stock of the
! stockholders OF the United states pipe
4 line haa placed their stock in trust. Mr..
/ archbold said he understood mat was
| done.
"You testified before the industrial
commission that the United States Pipe
| Line company was trust!
Eyes 1t is pure. unadulterated, re-
| strtctiye trust" replied the witness.
Restrictive of the Standard" said
Mr.. KELLOGG.
| the purchase of the Globe Refining
company and Western Pipe Line COM
many, Other pipe lines which were
taken over by the Standard were sub
| iccts of Interrogation by the federal
/ counsel. Mr.. Archbod said there were
/ several pine lines which the STANDARD
| did not own.
! RELATIONS WITH RAILROADS.
THE witness said that the Standards
| nine lines frequently occupied the
lights OF way of railroads, which were
Paid for. II,