Standard Oil
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By 1868, Rockefeller, Andrews & Flagler was the largest petroleum refiner in the world. The partners are credited with recognizing the importance of utilizing and marketing all of the by-products of the refining process, and gaining market and pricing control through shipping rates.
Jul 11, 2013 · The memory of Rockefeller and Flagler walking to work on Euclid Avenue and plotting their world-wide dominance of the oil industry amid the clatter of hoofs and the cry of coachmen is an image that deserves preservation as a unique moment in Cleveland history.
Apr 23, 2023 · Here we tell the story of some entrepreneurs from Bellevue, Ohio who joined forces with JD Rockefeller to build Standard Oil in 1870. The company was very successful, making the founders (including Rockefeller, Flagler, and Harkness) extremely wealthy, on the level of Elon Musk or Jeff Bezos.
- Don Schueler
The Rockefeller, Andrews & Flagler partnership was formed with Flagler in control of Harkness' interest. The partnership eventually grew into the Standard Oil Corporation. It was Flagler's idea to use the rebate system to strengthen the firm's position against competitors and the transporting enterprises alike.
- Henry Morrison Flagler was born on January 2, 1830 in Hopewell, New York, to Reverend and Mrs. Isaac Flagler. At the age of 14, after completing the eighth grade, Flagler moved to Bellevue, Ohio where he found work with his cousins in the grain store of L.G.
- In 1852 Henry Flagler became a partner in the newly organized D. M. Harkness and Company with his half-brother, Dan Harkness. The following year, on November 9, he married Mary Harkness.
- In 1862, Henry Flagler and his brother-in-law, Barney York, founded the Flagler and York Salt Company, a salt mining business in Saginaw, Michigan. When the Civil War ended however, salt, which had been in heavy use as preservative by the Union Army, was no longer in high demand and Flagler and York Salt Company collapsed.
- The next year Flagler re-entered the grain business as a commission merchant and paid back the money he had borrowed for the salt business. During this time, Flagler became acquainted with John D. Rockefeller, who worked as a commission agent with Hewitt and Tuttle for the Harkness Grain Company.
6 days ago · Standard Oil, U.S. company and corporate trust that from 1870 to 1911 was the industrial empire of John D. Rockefeller and associates, controlling almost all oil production, processing, marketing, and transportation in the United States. It originated in Cleveland, Ohio.
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On January 10, 1870, Rockefeller abolished the partnership of Rockefeller, Andrews & Flagler, forming Standard Oil of Ohio. Continuing to apply his work ethic and efficiency, Rockefeller quickly expanded the company to be the most profitable refiner in Ohio.
