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
_And Whereas_, it has been agreed by and between the party hereto of
the second part, for itself and its connections, the Erie Railroad
Company, for itself and its connections, and the New York Central
Railroad Company, for itself and its connections, that the business
of transporting, by railroad, crude petroleum and its products,
toward the Atlantic coast, from the points of production and
refining, on their lines of road, shall be allotted by the party
hereto of the first part, to the said three companies, in the
proposition of forty-five (45) per cent. of the whole to the
Pennsylvania Railroad Company, for itself and its connections,
including the Philadelphia and Erie Railway, the Northern Central
Railway, the Alleghany Valley Railroad, Camden and Amboy Railway,
the Pennsylvania Company, and all other railroads which are, or may
be, controlled, owned, and leased by it, or with which it has, or
may have, sufficient running arrangements; twenty-seven and a half
(27½) per cent. of the whole to the Erie Railway Company, for itself
and its connections, and twenty-seven and a half (27½) per cent. of
the whole to the New York Central Railroad Company for itself and
its connections, and that the transportation beyond Cleveland and
Pittsburg over the railroads of the said companies and their
connections, in other directions than toward the Atlantic coast,
west from said points of production and refining, shall be allotted
by the party hereto of the first part, in the proportion of
one-third thereof, to the party hereto of the second part, for
itself and its western connections, and the remainder to other
railroads.
Now, therefore, this agreement witnesseth: That the parties hereto
for themselves and their successors, in consideration of the
promises, of the mutual execution hereof, and of the mutual
advantages hereby conferred, have covenanted and agreed, and hereby
do covenant and agree each with the other, as follows:
ARTICLE FIRST
The party hereto of the first part covenants and agrees:
1. To furnish to the party hereto of the second part for
transportation, such a proportion of the crude petroleum and its
products, owned or controlled by the party hereto of the first part,
as shall give to the party hereto of the second part forty-five (45)
per cent. of all the crude petroleum and its products, sent from the
points of production and refining toward the Atlantic coast, by the
said Pennsylvania, the Erie, and the New York Central railroads and
their connections, and thirty-three and one-third (33⅓) per cent.
that which is sent west of Pittsburg and Cleveland by those
railroads and their connections.
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