History, 28.10.2020 23:50 Ezonthekid
Excerpt from Ida Tarbell’s The History of the Standard Oil Company, 1904
In the fall of 1871, . . . certain Pennsylvania refiners brought to [Rockefeller and his partners] a remarkable scheme, the gist of which was to bring together secretly a large enough body of refiners and shippers to persuade all the railroads handling oil to give to the company formed [the new trust] special rebates on its oil, and drawbacks [refunds] on that of other people. If they could get such rates, it was evident that [other companies] could not compete with them long and that they would become eventually the only refiners. They could then limit their output to actual demand, and so keep up prices. . . . [They] began at once to work up a company—secretly. It was evident that a scheme which aimed at concentrating in the hands of one company the business now operated by scores [a “score” is twenty] . . . must be worked with fine discretion if it ever were to be effective.
. . . In order that their great scheme might not be injured by premature public discussion they asked of each [potential partner] whom they approached a pledge of secrecy.
1904 Political cartoon by Udo J. Keppler in Puck magazine
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Excerpt from Ida Tarbell’s The History of the Standard Oil Company, 1904
In the fall of 1871, . . ....
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