“By 1880,” said Mr. Rogers, “I had stock in nearly all of the seventy or so companies which we had absorbed. But the real status of these companies was not known to the public. In case of my death there would have been practically no buyer except Mr. Flagler, Mr. Rockefeller, and a few others on the inside. My heirs would not have reaped the benefit of my holdings. The trust agreement changed this. The public at once realized the value of the trust certificate. That is, my estate was guarded in case of my death.” He often emphasized the part economies had played not only in building up the concern but in their individual fortunes—economies and putting their money back into the business. “We lived in rented houses and saved money to buy stock in the company,” he told me once. Only one who remembers, as I do, the important place that owning your own home took in the personal economy of the self-respecting individual of that day can feel the force of this explanation. I was curious about how he had been able to adjust his well known passion for speculation with Mr. Rockefeller’s well known antagonism to all forms of gambling. “Didn’t he ever object?” I asked. “Oh,” he said a little ruefully, “I was never a favorite. I suppose I was a born gambler. In the early days of the Charles Pratt Company, the company of which I was a member—I always carried on the speculations for the concern—Mr. Pratt said: ‘Henry, I haven’t got the nerve to speculate. I kicked all the clothes off last night worrying about the market.’ ‘Give me the money,’ I told him, ‘and I will furnish the nerve.’ We simply raked in the money”—making a gesture with both hands. “And of course it came out of the producer.” “That is what my father always said,” I told him. “One of the severest lectures he ever gave came from one of those booms in the market which sent everybody in the Oil Region crazy. I suppose you were responsible for it. I remember a day when the schools were practically closed because all the teachers in Titusville were on the street or in the Oil Exchange—everybody speculating. I was in high school; the fever caught me, and I asked father for $100 to try my luck in the market. He was as angry with me as I ever saw him. ‘No daughter of mine,’ he said, etc., etc.” “Wise man,” Mr. Rogers commented. “But it was not because he was so cautious,” I said. “It was because he thought it was morally wrong. He would no more have speculated in the stock market than he would have played poker for money.” “I always play poker when the market is closed,” commented Mr. Rogers. “I can’t help it. Saturday afternoons I almost always make up a poker party, and every now and then John Gates and I rig up something. He’ll come around and say, ‘Henry, isn’t it about time we started something?’ We usually do.”