There is now on trial, in the United States Court at Erie, a case involving the right to the ownership of the famous Story oil farm. The case is that of Wm. [William] Story vs. David Richey, Augustus Hartje, and Bateman Goe, impleaded [sic] with A. Wageforth and D. B. Brown. Plaintiff claims that defendants obtained a deed of the farm from him by fraudulent representation.

In opening the case for plaintiff, his counsel gave a history of the case, during which he stated that the plaintiff expected to establish the following allegations:

Mr. Story, the original owner, is now about seventy-seven years of age. Soon after Colonel Drake discovered oil, there was a rush to Oil Creek. Among the prospectors there were the defendants. On the first of April, 1860, they drew out a contract by which Story, who owned 500 acres, was to get $20,000 for his farm — $10,000 more if one ten barrel well was struck; $1,000 more if a second ten barrel well was struck. And one-fourth of the oil from one good well.

The contract was to have a year to run, they paying down a portion of the price. In April, 1861, he started from his then residence, Shenango, to see about the fulfillment of the contract, and met Mr. C. E. Taylor, an attorney who had drawn and been entrusted with keeping the original contract, who induced him to return to sign the deeds.

Story got as far as Cherrytree, within three miles of his farm, but was induced to go to Franklin to meet the defendants, who represented the farm was “dry diggings,” and only valuable for agricultural purposes. [They] stated that they would only give $20,000 for it, or would throw up the contract. That, under the impression that it was non-productive of oil, he signed the deeds, and did not learn it was a valuable oil territory until four years afterwards.

The case will probably occupy the attention of the court for some time.