Oil Works, of Rochester, New York—H. B. and C. M. Everest, father and son—sold to H. H. Rogers, J. D. Archbold and Ambrose McGregor of the Standard Oil Company, for $200,000, a three-fourths interest in that concern. The purchase was not made for the gentlemen in whose names it appeared, but for the Standard. Thus, when on the witness-stand J. D. Archbold was questioned as to the real ownership of the stock which had been bought in his name, the examiner wanted to know whether the purchasers represented themselves or somebody else.
"Mr. Archbold," he asked, "you made the contract, did you not, with reference to the transfer of the seventy-five shares of the Vacuum Oil Company's stock by the Messrs. Everest?"
A. I bought the seventy-five shares, yes, sir.
.......
Q. Whom did you represent in that transaction?
A. I represented the shareholders of the Standard Oil Company.
Q. After this purchase was made did you continue to represent the purchasers in the management of the affairs of the Vacuum Oil Company?
A. I did.
Q. By virtue of power delegated to you, or by virtue of being a member of the board of directors or trustees of the Vacuum?
A. By the virtue of power delegated to me.
Q. By the purchasers?
A. By the purchasers.
The Vacuum manufactured principally lubricating oils used on harness and car wheels. It controlled several valuable patents and had been doing a prosperous business for a number of years. By the terms of the sale in 1879 the Everests remained as managers of the refinery, on a salary of $10,000 a year. They also contracted to enter into no outside oil business for ten years. The business policy of the Vacuum, including the fixing of salaries, was dictated by a board of directors made up of Messrs. Rogers, Archbold, McGregor and the two Everests. The meetings of this board were held at the office of the
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