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
of 1871 the Empire Transportation Company was one of the most efficient
and respected business organisations in the oil country.
Its chief rival was the Pennsylvania Transportation Company, an
organisation which had its origin in the second pipe-line laid in the
Oil Regions. This line was built by Henry Harley, a man who for fully
ten years was one of the most brilliant figures in the oil country.
Harley was a civil engineer by profession, a graduate of the Troy
Polytechnic Institute, and had held a responsible position for some time
as an assistant of General Herman Haupt in the Hoosac Tunnel. He became
interested in the oil business in 1862, first as a buyer of petroleum,
then as an operator in West Virginia. In 1865 he laid a pipe-line from
one of the rich oil farms of the creek to the railroad. It was a
success, and from this venture Harley and his partner, W. H. Abbott, one
of the wealthiest and most active men in the country, developed an
important transportation system. In 1868 Jay Gould, who as president of
the Erie road was eager to increase his oil freight, bought a
controlling interest in the Abbott and Harley lines, and made Harley
“General Oil Agent” of the Erie system. Harley now became closely
associated with Fisk and Gould, and the three carried on a series of
bold and piratical speculations in oil which greatly enraged the oil
country. They built a refinery near Jersey City, extended their
pipe-line system, and in 1871, when they reorganised under the name of
the Pennsylvania Transportation Company, they controlled probably the
greatest number of miles of pipe of any company in the region, and then
were fighting the Empire bitterly for freight.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account