Standard Oil
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Rockefeller, Andrews & Flagler was a business concern formed in 1867 in Cleveland, Ohio which was a predecessor of the Standard Oil Company. The principals and namesakes were John D. Rockefeller, William Rockefeller, Samuel Andrews, and Henry M. Flagler.
23 Apr 2023 · Here we tell the story of some entrepreneurs from Bellevue, Ohio who joined forces with JD Rockefeller to build Standard Oil in 1870. The company was very successful, making the founders (including Rockefeller, Flagler, and Harkness) extremely wealthy, on the level of Elon Musk or Jeff Bezos.
11 Jul 2013 · In a short time, the firm of Rockefeller, Andrews and Flagler owned two refineries and a sales office in New York. Samuel Andrews was a refining expert, having developed several different processes to give oil a distinctive quality at an economical cost.
On January 10, 1870, the Rockefeller, Andrews and Flagler partnership was organized as a joint-stock corporation named Standard Oil. In just two years Standard Oil became the leader in the American oil refining industry, producing 10,000 barrels per day.
By 1868, Rockefeller, Andrews & Flagler was the largest petroleum refiner in the world. The partners are credited with recognizing the importance of utilizing and marketing all of the by-products of the refining process, and gaining market and pricing control through shipping rates.
The Rockefeller, Andrews & Flagler partnership was formed with Flagler in control of Harkness' interest. [ 8] . The partnership eventually grew into the Standard Oil Corporation. It was Flagler's idea to use the rebate system to strengthen the firm's position against competitors and the transporting enterprises alike.
John D. Rockefeller c. 1872, shortly after founding Standard Oil. Standard Oil's prehistory began in 1863, as an Ohio partnership formed by industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, silent partner Stephen V. Harkness, and Oliver Burr Jennings, who had married the sister of William Rockefeller's wife.
