The History of the Standard Oil CompanyTarbell, Ida M. (Ida Minerva)
History
The History of the Standard Oil Company
Tarbell, Ida M. (Ida Minerva)
Petroleum industry and trade -- United States -- History; Standard Oil Company -- History
Although these early efforts to get a wedge into the Producers’ Union
and thus secure a staying of the suits had no results, the Standard was
not discouraged—it never is: there is no evidence in its history that it
knows what the word means. Not being able to handle the Union as a
whole, the Standard began working on individuals. By March, 1879, the
idea of a compromise had become particularly strong in Oil City. Indeed,
one of the several reasons advanced for bringing the conspiracy suits
was that such a proceeding would defeat the efforts the Oil City branch
were making to bring about a settlement with Mr. Rockefeller.
Accordingly, when it became apparent to Mr. Rockefeller in the fall of
1879 that the producers meant to fight through the conspiracy suit,
though they might dally over the others, he notified Roger Sherman,
counsel for the Union, that he wished to lay before him a proposition
looking to a settlement. The president, Mr. Campbell, was in favour of
receiving the proposition. “I have no idea they will present anything we
can accept,” he wrote Mr. Sherman. “Still it will furnish a first-rate
gauge to test how badly they are scared.” And the Standard was told that
the Union would consider what they had to offer. “But it is a serious
question—this of settlement,” replied Mr. Rockefeller. “Our trial is set
for October 28. We cannot get ready for that and prepare a proposition
too. Why not postpone the trial?” This was done—December 15 being set.
But no proposition was made to the producers for over six weeks—then
they were asked to meet the Standard men on November 29 in New York
City. Piqued at the delay, the producers informed the Standard that they
could no longer consider their proposition and that the trial would be
pushed.
Public-domain text, read in full here on John Shaqi.
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