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60,000 (1909) [ 5 ] Standard Oil is the common name for a corporate trust in the petroleum industry that existed from 1882 to 1911. The origins of the trust lay in the operations of the Standard Oil Company (Ohio), which had been founded in 1870 by John D. Rockefeller. The trust was born on January 2, 1882, when a group of 41 investors signed ...
The principals and namesakes were John D. Rockefeller, William Rockefeller, Samuel Andrews, and Henry M. Flagler. Flagler’s step-brother Stephen V. Harkness made substantial investments, but was a silent partner and did not take an active role in running the business but he was actually the second largest stockholder next to JD Rockefeller. [1]
In 1867, Henry Morrison Flagler became a partner, and the firm of Rockefeller, Andrews & Flagler was established. By 1868, with Rockefeller continuing practices of borrowing and reinvesting profits, controlling costs, and using refineries' waste, the company owned two Cleveland refineries and a marketing subsidiary in New York ; it was the largest oil refinery in the world.
Henry Morrison Flagler (January 2, 1830 – May 20, 1913) was an American industrialist and a founder of Standard Oil, which was first based in Ohio. He was also a key figure in the development of the Atlantic coast of Florida and founder of the Florida East Coast Railway. He is also known as a co-founder and major investor of the cities of ...
May 29, 2018 · STANDARD OIL COMPANY, an Ohio corporation, was incorporated on 10 January 1870 with a capital of $1 million, the original stockholders being John D. Rockefeller, with 2,667 shares; William Rockefeller, with 1,333 shares; Henry M. Flagler, with 1,333 shares; Samuel Andrews, with 1,333 shares; Stephen V. Harkness, with 1,334 shares; O. B. Jennings, with 1,000 shares; and the firm of Rockefeller ...
Aug 31, 2011 · The 26-year-old Rockefeller won, for a price of $72,500 (the equivalent today of about $820,000). Clark thought he had gotten a bargain—but given what Rockefeller was to accomplish in the next ...
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By 1870, the firm of Rockefeller, Andrews, and Flagler was, thanks to Rockefeller’s vision, a super-efficient refining machine, generating more than fifteen hundred barrels a day 38 — more than most refineries could produce in a week — at lower cost than anyone else. And in that year, the firm became the Standard Oil Company of Ohio — a joint-stock company, of the type used by ...
