How Henry Rogers moved steadily from foreman to manager, and then superintendent of Pratt's Astral Oil Refinery, is one of the fairy-tales of America. Pratt finally gave Rogers an interest in the business, and Rogers got along on his twenty-five dollars a week, although the books showed he was making ten thousand dollars a year. He worked like a pack-mule. His wife brought his meals to the "works," and often he would sleep but three hours a night, as he could snatch the time, rolled up in a blanket by the side of a still.
Then comes John D. Rockefeller from Cleveland, with his plans of co-operation and consolidation. Pratt talked it over with Rogers, and they decided that the combination would steady the commercial sails and give ballast to the ship. They named their own terms. The Rockefellers sneezed, and then coughed. The next day John D. Rockefeller came back and quietly accepted the offer exactly as Rogers had formulated it.
The terms were stiff, but Rockefeller, a few years later, got even with the slightly arrogant Rogers by passing him this: "I would have paid you and Pratt twice as much if you had demanded it." "Which you are perfectly safe in saying now—since the past is a dry hole." And they shook hands solemnly. Rockefeller ordered a glass of milk and Rogers took ginger-ale.
Rockefeller was only one year older than Rogers, but seemed twenty. John D. Rockefeller was always old and always discreet; he never lost his temper; he was warranted non-explosive from childhood. Henry Rogers at times was spiritual benzine.
In Eighteen Hundred Seventy-two there were twenty-six separate oil-refineries in Cleveland. Refined oil sold to the consumer for twenty cents a gallon; and much of it was of an unsafe and uncertain quality—it was what you might call erratic. Some of the refineries were poorly equipped, and fire was a factor that made the owners sit up nights when they should have been asleep. Insurance was out of the question.
One of these concerns was the Acme Oil Company, of which John D. Archbold was President. Its capital was forty thousand dollars, some of which had been paid in, in cash. William Rockefeller was at the head of still another company; and John D. Rockefeller, brother of William, and two years older, had an interest in three more concerns.
Outbidding each other for supplies, hiring each other's men, with a production made up of a multiplicity of grades, made the business one of chaotic uncertainty. The rule was "dog eat dog."
Then it was that John D. Rockefeller conceived the idea of combining all the companies in Cleveland and as many elsewhere as possible, under the name of The Standard Oil Company. The corporation was duly formed with a capital of one million dollars. The Pratt Oil Company, with principal works in Brooklyn, but a branch in Cleveland, was one of the twenty concerns that were absorbed. The stocks of the various concerns were taken up and paid for in Standard Oil certificates.
And so it happened that Henry H. Rogers, aged thirty-two, found himself worth a hundred thousand dollars, not in cash, but in shares that were supposed to be worth par, and should pay, if rightly managed, seven or eight per cent. He was one of the directors in the new company.