Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-02


Brady had told him that he purposoG
selling the Manhattan company and
wanted 10 obtain contract for ,ott
supply for the Peoples Gas, Light and
Coke company of Chicago. 4 contract
was entered into. Mr.. Archbold said
he did not know the terms of The com
tract.
Don't you know that Mr. Brady
testified year ago that that contract
was worth Sl.300,000 TO the Peoples
Gas, Light and coke company
II do not know
Mr.. Archhold said II had not been
suggested to him that one of the con-
ditions of the sale of the Manhattan
was the contract given to the Peoples
Gas company The witness said th1t
for many years James Mcdonald Was
manager in England of the Anglo
American company, and severed his
connection three or four years ago
MI Arehbold's attention. was called
To the loans of S2,700,00O which the
Anglo-American company had made
to Mr. Mcdonald. but he said hr
knew nothing of them.
About this time the General Indus
trial company bought the Manhattan
oil company. Was the Mcdonald loan
for the purpose p"
I don't know" said Mr.. ArchbolI.
''Will YOU produce the London
books of the London Anglo American
company
u don't think have the power 6
am not director now"
"A list furnished by your company
shows that YOU were elected direct
or OF the Anglo in June. 1900"
Il think / resigned shortly after
that"
Did you resign as a result Of this
investigation ?''
Il should not say | did"
Mr.. Archbold was asked TO produce
a list of directors of the Anglo com
pany at this time
Mr. Archbold said that Mr.. Rogers
and himself resigned from the Anglo
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. Archbold was
called to the evidence of Mr. Brady
who testified that assets worth ST.
the General Industrial company nego-
tiated the contract for the standard.
Mr Archbold said he had no recollec-
ton that the General Industrial COM
pany had anything to do with the
contract. The witness said he could
not explain the loan to Mr. Mcdonald
and had not investigated It,
why did not you investigate it?"
Il did not feel called to do IT,"
VIII you try to find out about the
loan -
IF my counsel so advises
In answer TO a question, Mr.. Arch
bold said that under advice of coun-
sci the legal ownership of the Waters
Pierce oil company was held by G. M,
Pratt and NJ. NJ. NanBuren, Mr.. Arch
bold's son-in-laW.
Mr.. Kellogg called the attention Of
the witness to testimony that the Wa
lers- Pierce company was an indie
pendent concern.
Mr. Archbold told Of the Standard S
business relations with the Tidewater
Pipe Line company. when tho stand
ard obtained possession OF 81 per
cent of the Tidewater stock it took
over Several small independents m the
seaboard.
"Our purpose in securing these In
dependents was to succeed 20 their
volume of business" added Mr.. Arch
bold, who told of the construction Of
the Crescent pipe line and the United
States pipe line. The witness said ]
stock was bought in the United States
pipe line for an Investment and to
logg asked the witness IT, after the
standard had purchased 90 per cent |
)f the stock of the United states pipe |
line the other stockholders of the |
United states pipe line had placed |
heir stock i'm trust Mr., Archbuld |
said he understood that was done
you testified before the industrial
commission that the United States
)ipe line was a trust
Yes; it is pure, unadultornted,
trust" replied the witness
Restrictive Of the Standard" said
Mr.. Kellogg q,
Mr. Archbold was questioned about
he purchase Of the Globe Refining
Ompany and Western Pipe Line COM
amy. other pipe line companies
which were taken over by the stand
rd were the subject of Interrogation
y the government counsel
The witness said that the standards
ipe lines frequently occupied the
lights of way Of railroads, which were
aid for.
The vice president OF the Standard
aid the refineries which had been
urchased were not dismantled, but
ither taken down and available parts
onsolidated with the larger refineries
I the Standard.
Mr Kellogg wanted 10 know II II I
'as not a fact that the Republic OH {
ompany was organized by clerks in
lc Standards office. and that for ,
ing time its real ownership was not {
ladc known. Mr. ArchbOld said he
new nothing OF Il. Mr.. Kellogg ask !
] the witness to produce n list of all
impanies which had been acquired 1
y the Standard from 1882 10 1899.
Mr. Archbold said he would consult I
ith counsel on the request IN
Nj Archbold said he was one Of the
a ncrs OF stock of the Acme oil com &
any of New York, which, he said 5
as held under a common ownership X
I'M others and was not under the | n
of the Standard. II
Adjournment was taken until to- q
orroW, when Mr.. Archbold VIII ne ~
rtheT cross examined. q