The New York Central and Hudson River Railway Company, General Freight Agent’s Office, Grand Central Depot.
New York, September 9, 1874.
Dear Sir: Commencing October 1, 1874, the following rates on refined and crude oil shall govern all lines:
The rates on refined oil from all refineries at Cleveland, Titusville and elsewhere in and adjacent to the Oil Region shall be as follows:
Per Barrel. To Boston $2.10 Philadelphia 1.85 Baltimore 1.85 New York 2.00 Net rate on Albany fifteen per cent. less, from which shall be refunded the amount paid for the transportation of crude oil by rail from the mouth of the pipes to the said refineries, upon the basis of fourteen barrels of crude oil to the refineries for every ten barrels of refined oil forwarded by rail from them (the refineries) to the Eastern points named.
Settlements of this drawback to be made on the refined oil forwarded during each month.
No rebate on these rates will be paid on oil reaching refineries direct by pipes.
On crude oil the rates from all initial points of rail shipments in the Oil Region shall be as follows:
Per Barrel. To Boston $1.75 Philadelphia 1.50 Baltimore 1.50 New York 1.50 Net rate on Albany fifteen per cent. less, from which shall be refunded twenty-two cents per barrel only on oil coming from pipes which maintain the agreed rates of pipage.
A barrel shall in all cases be computed at forty-five gallons.
You will observe that under this system the rate is even and fair to all parties, preventing one locality taking advantage of its neighbour by reason of some alleged or real facility it may possess.
Oil refiners and shippers have asked the roads from time to time to make all rates even, and they would be satisfied. This scheme does it, and we trust will work satisfactorily to all.
Respectfully yours,
J. H. Rutter,
General Freight Agent.
| Per Barrel. | ||
|---|---|---|
| To | Boston | $2.10 |
| Philadelphia | 1.85 | |
| Baltimore | 1.85 | |
| New York | 2.00 |
| Per Barrel. | ||
|---|---|---|
| To | Boston | $1.75 |
| Philadelphia | 1.50 | |
| Baltimore | 1.50 | |
| New York | 1.50 |
NUMBER 24 (See page [1148])
STANDARD OIL COMPANY’S APPLICATION FOR INCREASE OF CAPITAL STOCK TO $3,500,000 IN 1875
To the Secretary of the State of Ohio:
The undersigned, being a majority of the board of directors of THE STANDARD OIL COMPANY OF CLEVELAND, OHIO, do hereby certify that on the tenth day of March, A.D. 1875, at a special meeting of the stockholders of said company held at its office in Cleveland, Cuyahoga County, Ohio, by a vote then and there taken, all the stockholders of said company being present and voting therefor, it was resolved and agreed by each and all of them, that the capital stock of said company be increased the sum of One Million Dollars, thereby making the capital stock of said company Three Million Five Hundred Thousand Dollars, which action of the stockholders was as follows, to wit:
Resolved, and it is agreed by each and all of us that the capital stock of this company, viz.: THE STANDARD OIL COMPANY OF CLEVELAND, OHIO, be increased to the sum of Three Million Five Hundred Thousand Dollars, and it is also agreed and the proper officers of this company are hereby instructed to take the requisite steps to so increase said capital stock.
John D. Rockefeller; S. V. Harkness; H. M. Flagler, Trustee; S. Andrews; J. D. Rockefeller, Agent; J. D. Rockefeller, Trustee; O. H. Payne; B. Brewster, by J. D. Rockefeller, his Attorney; T. P. Handy, by J. D. Rockefeller, his Attorney; O. B. Jennings, by J. D. Rockefeller, his Attorney; Wm. Rockefeller, by J. D. Rockefeller, his Attorney; Jas. Stanley, by O. H. Payne, his Attorney; A. M. McGregor, by J. D. Rockefeller, his Attorney; W. C. Andrews; A. J. Pouch, by J. D. Rockefeller, his Attorney; F. A. Arter, by J. D. Rockefeller, his Attorney; P. H. Watson, by H. M. Flagler, his Attorney; J. A. Bostwick, by J. D. Rockefeller, his Attorney; J. Huntington, by O. H. Payne, his Attorney; D. M. Harkness, by H. M. Flagler, his Attorney; Josiah Macy, by J. D. Rockefeller, his Attorney; W. H. Macy, by J. D. Rockefeller, his Attorney; W. G. Wardwell, by H. M. Flagler, his Attorney; D. P. Eells, by J. D. Rockefeller, his Attorney; S. F. Barger, by J. D. Rockefeller, his Attorney; W. H. Vanderbilt, by J. D. Rockefeller, his Attorney; H. W. Payne, by O. H. Payne, his Attorney; J. J. Vandergrift, by O. H. Payne, his Attorney; John Pitcairn, Jr., by O. H. Payne, his Attorney; L. G. Harkness, by H. M. Flagler, his Attorney.
And afterwards said meeting was duly adjourned.
H. M. Flagler,
Secretary.
Cleveland, March 10, 1875.
And we further certify that the whole amount of such increase of capital stock has been paid to said company in money, that no note, bill, bond, or other security has been taken for the same or any part thereof, and that the credit of the company has not been used directly or indirectly to raise funds to pay the same or any part thereof.
In Witness Whereof, we hereunto set our names at Cleveland, this tenth day of March, A.D. 1875.
John D. Rockefeller,
Henry M. Flagler,
Samuel Andrews,
Oliver H. Payne,
Stephen V. Harkness.
NUMBER 25 (See page [1148])
HENRY M. FLAGLER’S TESTIMONY ON THE UNION OF THE STANDARD OIL COMPANY WITH OUTSIDE REFINERS IN 1874
[Proceedings in Relation to Trusts, House of Representatives, 1888. Report Number 3112, page 291 and page 770.]
A. ... The original Standard Oil Company was organised in the early part of 1870. The increased capacity and the acquisition of the Cleveland refineries was, as I remember it, in 1872. It remained at that until 1875 or 1876,[[85]] according to the best of my recollection. Then was consummated a negotiation which had been pending for some two years, perhaps, with certain parties in Pittsburg, Philadelphia and New York, by which a value was agreed upon, and their refinery property was purchased and the capital of the company was increased a still further sum of a million, and they were paid for these properties, and money which they contributed, in the stock of the Standard Oil Company of Ohio.
By Mr. Gowen.
Q. When did the Standard Oil Company of Ohio first enter into an alliance with other refineries?
A. If you mean, (by) an alliance, Mr. Gowen, I should say never.
Q. I am only endeavouring to aid your friends in getting at what they want. Here, I notice, they propose to prove by you—I will give it in this way—that on account of the disastrous condition of the refining business, the Standard, on October 15, 1874, entered into an alliance with a number of Pittsburg refineries?
A. That is more correctly stated by saying that the Standard Oil Company purchased the refineries owned by the parties in Pittsburg.
Q. Who were they?
A. Lockhart, Frew and Company, I think was the company. Wait a moment. It was the Standard Oil Company of Pittsburg, it being a corporation, and Warden, Frew and Company, of Philadelphia, and, I should say, Charles Pratt and Company, of New York.
Q. Any others?
A. That is all.
Q. All those gentlemen, Warden, Frew and Company, and the Standard Oil Company of Pittsburg, Charles Pratt and Company of New York, are now associated with you as parties interested in the present Oil Trust?
A. They are stockholders. The property formerly owned by them was at that time purchased by the Standard Oil Company.
Q. When you speak of purchasing their interest, you do not exclude them from their interest? They united with you and remained as your associates in the business?
A. If it was not from the fact that ours was a corporation, we might call it a co-partnership.
Q. They becoming interested in yours, and you in theirs?
A. Yes, sir.
Q. And you simply used your name to represent the joint ownership, as it was a corporation?
A. Yes, sir.