The Age of Big Business; a chronicle of the captains of industry by Burton Jesse Hendrick
page 27 of 132 (20%)
page 27 of 132 (20%)
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there were twenty-seven independent refineries in this section.
Archbold began buying and leasing these establishments for his Acme Company, and in about four years practically every one had passed under his control. The Acme Company was merely a subsidiary of the Standard Oil. These rapid purchasing campaigns gave the Standard ninety per cent of all the refineries in the United States, but Rockefeller's scheme comprehended more than the acquisition of refineries. In the main the Rockefeller group left the production of crude oil in the hands of the private drillers, but practically every other branch of the business passed ultimately into their hands. Both the New York Central and the Erie railroads surrendered to the Standard the large oil terminal stations which they had maintained for years in New York. As a consequence, the Standard obtained complete supervision of all oil sent by railroad into New York, and it also secured the machinery of a complete espionage system over the business of competitors. The Standard acquired companies which had built up a large business in marketing oil. Even more dramatic was its success in gathering up, one after another, these pipe lines which represented the circulatory system of the oil industry. In the early days these pipe lines were small and comparatively simple affairs. They merely carried the crude oil from the wells to railroad centers; from these stations the railroads transported it to the refineries at Cleveland, New York, and other places. At an early day the construction and management of these pipe lines became a separate industry. And now, in 1873, the Standard Oil Company secured possession of a one-third interest in the largest of these privately owned companies, the American Transfer Company. Soon afterward the United Pipe Line Company went under their control. In 1877 the |
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