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
The first thing was to get a charter—quietly. At a meeting held in
Philadelphia late in the fall of 1871 a friend of one of the gentlemen
interested mentioned to him that a certain estate then in liquidation
had a charter for sale which gave its owners the right to carry on any
kind of business in any country and in any way; that it could be bought
for what it would cost to get a charter under the general laws of the
state, and that it would be a favour to the heirs to buy it. The
opportunity was promptly taken. The name of the charter bought was the
“South (often written Southern) Improvement Company.” For a beginning it
was as good a name as another, since it said nothing.
With this charter in hand Mr. Rockefeller and Mr. Watson and their
associates began to seek converts. In order that their great scheme
might not be injured by premature public discussion they asked of each
person whom they approached a pledge of secrecy. Two forms of the
pledges required before anything was revealed were published later. The
first of these, which appeared in the New York Tribune, read as follows:
I, A. B., do faithfully promise upon my honour and faith as a
gentleman that I will keep secret all transactions which I may have
with the corporation known as the South Improvement Company; that,
should I fail to complete any bargains with the said company, all
the preliminary conversations shall be kept strictly private; and,
finally, that I will not disclose the price for which I dispose of
my product, or any other facts which may in any way bring to light
the internal workings or organisation of the company. All this I do
freely promise.
Signed..............................
Witnessed by..............................
A second, published in a history of the “Southern Improvement Company,”
ran:
The undersigned pledge their solemn words of honour that they will
not communicate to any one without permission of Z (name of director
of Southern Improvement Company) any information that he may convey
to them, or any of them, in relation to the Southern Improvement
Company.
Witness..............................
Public-domain text, read in full here on John Shaqi.
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