Career
In Pennsylvania, Rogers was introduced to Charles Pratt (1830–91). Born in Watertown, Massachusetts, Pratt had been one of eleven children. His father, Asa Pratt, was a carpenter. Of modest means, he spent three winters as a student at Wesleyan Academy, and is said to have lived on a dollar a week at times. In nearby Boston, Massachusetts, Pratt joined a company specializing in paints and whale oil products. In 1850 or 1851, he came to New York City, where he worked for a similar company handling paint and oil.
Pratt was a pioneer of the natural oil industry, and established his kerosene refinery Astral Oil Works in the Greenpoint section of Brooklyn, New York. Pratt's product later gave rise to the slogan, "The holy lamps of Tibet are primed with Astral Oil". He also later founded the Pratt Institute.
When Pratt met Rogers at McClintocksville on a business trip, he already knew Charles Ellis, having earlier bought whale oil from him back east in Fairhaven. Although Ellis and Rogers had no wells and were dependent upon purchasing crude oil to refine and sell to Pratt, the two young men agreed to sell the entire output of their small Wamsutta refinery to Pratt's company at a fixed price. This worked well at first. Then, a few months later, crude oil prices suddenly increased due to manipulation by speculators. The young entrepreneurs struggled to try to live up to their contract with Pratt, but soon their surplus was wiped out. Before long, they were heavily in debt to Pratt.
Charles Ellis gave up, but in 1866, Henry Rogers went to Pratt in New York and told him he would take personal responsibility for the entire debt. This so impressed Pratt that he immediately hired him for his own organization.
Read more about this topic: Henry Huttleston Rogers
Famous quotes containing the word career:
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