The Montgomery advertiser., 1908-12-03
Science in Marketing
 Is Theme Of Jordan

ed the valuation of the plants was $56.000,000, for which s70,0 ,00o In certificates were issued"
 T don't know about the balance sheets. responded the witness.
 Mir, Kellogg tried to develop the fact that the book value of the various plants had been set down as $70,000,000 at the time of the organization of the trust. and that a year later Si4.000.000 was written on the value of the Na- tional Transit Company.
 Mir. Archbold said he understood the book value to be tS5.0oo.oOo and the actual value t7o.000.000.
 Mir. Archboid said the trustees held all the stocks Of the subsidiary com panies from 1889 to 1899, when the trust began to dissolve in obedience to decree of the Supreme Court Of Ohio. He did not know where the stock cer- tiflcates. books and journals of the Irus- tees were. A
 "Will you look for them7"
 T know of no reason why you should not have them" said Mir. Archbold. An exhibit of the defense showed that when the trust began it's dissolution, 49A,6iS certificates out of s72.s00 were turned in for liquidation Mir. Kel- lslogg then read . list of names of tn ose certificate holders who turned in their eertfhcates.
 Did you and your associates as trus- tees turn in your certificates and ob- tain stocks of the subsidiary com panles to control them ana give the impression that the trust was dis soIved?D sss.s.4- lss
 We made the transfer in good faith In accordance with the decree of the. courts. We had no ulterior purpose.
 Did you intend b to- dissolve the trust?s
 T stand on the resolution taken by the trustees and the record Way New Jerseye Mir Archbold said that in 1888 he turned in his various stocks and ob- tained certificates of the Standard of New Jersey. and that all the holders of trust certificates and holders of evidences of legal title obtained shares In the. minor companies which were turned in and for which Standard oil
 Company of New Jersey shares were Issued. sss .
 why did you make the Standard
 oil Company of New Jersey the hold ing company;
 we. were advised by counsel that the laws of New Jersey offered the most reasonable treatment for coT- borationsss' y f e< The acquisition of ths Pacific Coast oil Company by the Standard Oil Co, of California was inquired Into by Mir. Kellogg but Mir. Archboid said he had little definite information on the mat ter Mir. Kellogg asked. the witness ie' the Standard had bought out the pro- ducers and refiners association pipe line company to prevent if being a competitiye pipe Iine. Mr. Arehboid replied that he did not think SO
 MT, Kellegm asked the witness to produce . list ef companies which do not appear In flas dagendahkss exhibit. { Counsel sAld they would be- glad to
 comply with the feauent
 Mir Archpoidt said he knew 1T M I BafnsdaIe, Of Eittaburg. who wks in teTested fn of production and gas Witness denteiE that the Standard owned the Barnsdale oil Company. but
 said that the conipany had leaned Mir. Barnsdala naoney.fy ~s -. Do you know of loans of @7,600. 900
 to Mir. Barnsdale from 1905 to tsos?'
 'I know of thepn generally" Mir Archbold. said it. was arranged to- loan. Mr. Barnsdale. tze money on securities of his conipany. The con- tract for the loan. was in the Pittsburg 1 Trust Company. 5s
 Counsel. for the defehse said the con- 1 tract held. in escrow in ? Ittsburg woulj be the beat evidence of securities held TOT the lQAns,r anu tttaAt the 6oNSku~
 nent could easily get them there.
 "Yes; and if we went there we might find the contract was somewhere else just as we have. found other. things"
 said Mir. Kellogg.
 Mr. Afchbold said in explanation that | the loans had been made to Mir. Barns- 1 dale to continue his general operations in oil all over the country It was part of the contract of the loans. Mir. Archbold said that the crude oil pro- | dnced by Barnsdale should come over l the Standards lines. Mir. Kellogg called attention to the fact that the interest on the ioans was charged off and Mr. Archbold. replied that that was | d part of later negotiations.
 Adjournment was taken at this point
 until tomorrow, .t2..