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
On the morning of February 26, 1872, the oil men read in their morning
papers that the rise which had been threatening had come; moreover, that
all members of the South Improvement Company were exempt from the
advance. At the news all oildom rushed into the streets. Nobody waited
to find out his neighbour’s opinion. On every lip there was but one
word, and that was “conspiracy.” In the vernacular of the region, it was
evident that “a torpedo was filling for that scheme.”
In twenty-four hours after the announcement of the increase in freight
rates a mass-meeting of 3,000 excited, gesticulating oil men was
gathered in the opera house at Titusville. Producers, brokers, refiners,
drillers, pumpers were in the crowd. Their temper was shown by the
mottoes on the banners which they carried: “Down with the
conspirators”—“No compromise”—“Don’t give up the ship!” Three days later
as large a meeting was held at Oil City, its temper more warlike if
possible; and so it went. They organised a Petroleum Producers’
Union,[18] pledged themselves to reduce their production by starting no
new wells for sixty days and by shutting down on Sundays, to sell no oil
to any person known to be in the South Improvement Company, but to
support the creek refiners and those elsewhere who had refused to go
into the combination, to boycott the offending railroads, and to build
lines which they would own and control themselves. They sent a committee
to the Legislature asking that the charter of the South Improvement
Company be repealed, and another to Congress demanding an investigation
of the whole business on the ground that it was an interference with
trade. They ordered that a history of the conspiracy, giving the names
of the conspirators and the designs of the company, should be prepared,
and 30,000 copies sent to “judges of all courts, senators of the United
States, members of Congress and of State Legislatures, and to all
railroad men and prominent business men of the country, _to the end that
enemies of the freedom of trade may be known and shunned by all honest
men_.”
Public-domain text, read in full here on John Shaqi.
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