Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-12-02
ArChbOld Gives No
Clue to$70O, OO0Loan.
Continued from Page One.)

n. Brady had told him that he pro-
posed selling the Manhattan Oil Co.,
and wanted to obtain contracts for oil
supply for the Peoples Gas Light and
Coke Co. 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
testified a year ago that that contract
was worth 81, 100000 to the Peoples
Gas Light & Coke Coz"
Il don't know
Mr.. Archbold said it had been suggested
to him that one Of the terms of the sale
of the Manhattan was the contract given
to the Peoples Gas Co. The witness said
that for many years James Mcdonald
was manager in England of the Anglo
American Co, and severed his connection
three or four years ago Mr. ArChbold's
attention was called to the loans of S.
100000 which the Anglo company mad
made to Mr.. Mcdonald, but he said he
knew nothing of them.
about this time the General Industrial
Co. bought the Manhattan Oil Co. Was
the Mcdonald loan for that purpose:'
Il don't know" said Mr. Archbold.
will you produce the London books
of the Anglo-American Coz" &
Il don't think 1 have the power. 1 am
not 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"
Did you resign as a result of this in
vestigation?"
"I should not say I did"
Mr.. Archbold was asked to produce a
list of directors of the Anglo Company at
this time. Recess was taken.
Mr. Archbold said that Mr.. Rogers and
himself resigned from the Anglo Company
SO that men more directly connected with
the company could take their places. The
witness said he was rot sure that Mr.
Teasle had resigned. The attention of
Mr. Archbold was called to the evidence
of Mr.. Brady. who testified that assets
worth sl,3ot.OOO were paid for the contract
and that the General Industrial Co. ne
gotiated the contract for the STANDARD
Mr.. Archbold said he had no recollection
that the General Industrial Co. had any
thing to do with the contract. The wit
ness said he could not explain the loan to
Mr.. Mcdonald and had not investigated
it.
will you try to find out about the
loan?'
"If my counsel SO advises
The vice president of the Standard was
Intercepted about the Indiana Pipe Line
and Refining Co. The witness said he
was urder the impression that the
Standard purchased it.
who WAS behind the company
THE Cudahys of Chicago, 1 believe
isn't It fact that Standard Oil in
terests own directly or indirectly the Gen.
eral Industrial Coz"
II have no knowledge OF It,"
Mr.. Archbold was questioned about the
Security Oil Co of Texas and the Lon
don Commercial Trading &, Investment
Co of London.
He said that he did not know the Lon
don company owned the Security Com
pany, and that he had no knowledge that
the Standard owned or controlled the Sc
curity.
DO you know anything about the Cor
sicana Refining Coz"
Yes"
Mr. Archbold said that he understood
that it haG been bull. with the Standards
money. He said he was not aware that
the money furnished for the Corsicana
Co. 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 Coz"
| Il don't think l have the right. 1 will
advise with counsel"
why was the Waters-Pierce Oil Co
ownership kept secrct?"
Il don't know that it was
Mr.. Arcltbold said that under advice of
counsel the legal ownership of the Wa
ters-Pierce Oil Co. was held by C. NJ
Pratt and NJ. NJ Van Buren,. Mr.. Arch
bolds son-in-law. Mr.. Kellogg called the
attention of the witness to testimony that
the Waters-Perce Co. was an Independent
company. Mr.. Archbold said the Waters
Pierce affair was a legal matter and he
knew little about it. The vice president
of the Standard said the property of
Schofeld. Schumar and Teagle in Cleve-
land was purchased but whether it was
turned over to the Republic Oil Co. he did
not know Mr.. Archbold said he had no
recollection of discussing with any Stand
ard official regarding the purchase of the
Manhattan and Security Companies or the
two English companies.
Mr.. Arrhbold told of the Standards
business relations with the TiGewater
Pipe Line Co. and the purchase of several
small independents at the seaboard.
Our purpose in securing these indie
pendents was to succeed to their volume
of business said Mr.. Archbold, who then
told of the construction of the Crescent
Pipe Line and the United States Pipe
Line for an investment and to know what
was going on.