Oil
In 1866, his brother William Rockefeller built another refinery in Cleveland and brought John into the partnership. In 1867, Henry M. Flagler became a partner, and the firm of Rockefeller, Andrews & Flagler was established. By 1868, with Rockefeller continuing practices of borrowing and reinvesting profits, controlling cost and using refineries' waste, the company owned two Cleveland refineries and a marketing subsidiary in New York; it was the largest oil refinery in the world. Rockefeller, Andrews & Flagler was the predecessor of the Standard Oil Company.
Read more about this topic: John D. Rockefeller
Famous quotes containing the word oil:
“I bade, because the wick and oil are spent
And frozen are the channels of the blood....”
—William Butler Yeats (1865–1939)
“Mr. Chadband is a large yellow man, with a fat smile, and a general appearance of having a good deal of train oil in his system.”
—Charles Dickens (1812–1870)
“As artists they’re rot, but as providers they’re oil wells; they gush. Norris said she never wrote a story unless it was fun to do. I understand Ferber whistles at her typewriter. And there was that poor sucker Flaubert rolling around on his floor for three days looking for the right word.”
—Dorothy Parker (1893–1967)