The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1908-11-26
ROCKEFELLER GIVES SOME
OF HIS PRNAE HISTORY! !
The FACE the Old Pirate Beams he Proudly Relates the Growth Of
Little Company Into Mammoth 0mpRatnn

Oohp hpau1 put w dli Nht iSHutil0N .
possible. H
WAS MIR. Andrews practial re- .
dnerY'' h
"That was the reason he was given
a part In the business, said Mr. /
rsockeieller "Ile was practical
Rfner Of oil and il gave him an ca
cellent opportunity to associate him
self in the business interests this
way.
Ia answer 10 question, Mr. Rock
efeller said that Cleveland vas the
best distributing point to obtain the /
domestic trade, Its advantage was
that they had long haul 70 The !
seahoard for tie export trade,
"What was the comparative Size Of
your refinery TO others at that time
/ in ls10y''
II believe IL was the largest in the
country at that time.
The company vas capitalized at
81 900, 900. Was that considered
large capitaliLatiouY asked Mr.. Nil
burn.
Yes, replied Mr. Rockefeller.
1T was considered very large We
thought IL very large, as sc started
In 1860 with 81 ,000
, Mr.. Rockefeller said they made
, many Improvements In the business.
One thing they did was 10 muutac.
Lure their own barrels at a saving oi
one-half lie said the savings ON th,
barrels represented a large saving &
the company and represented one o
the innovations developed in th'
[ company.
The things that We Used from
n time TO time We were enabled 4
produce at prices lower than tha
!. which we previously paid, as on
( capital increased, said MIR Rock
!, efeller.
is Let me ask you about the hous
which you established here, sal
ol Mr.. Milburn.
1t "Yes, that was an advantage
ei That gave US an opportunity
4 learn of the foreign markets and I'll
K export trade. We were constantly
a. need Of increasing capital, as ol
de business developed, and in New fo
We were enabled 10 secure lare
-, sums OF money at lower rates than
,o the vest. We were always able
M obtain large sums OF money, and
% am thankful 20 say we always ID
good credit. We always kept @
.o covenants and paid our bills. O
ho ability to secure large loaus was
"a, I great advantage TO US. Thus we ,
tended our facilities "ith New Y
49,, bankers with whom We kept our
49, posits and we got our money at
Ia, cheapest rates In the cheapest MOI
me market in the world.
~ Through the acquaintance ni
- by william Rockefeller with ~ealt
49, men In New York connections "
~, flormei enabling the company TO b
H., row large sums for tie further
80 tension Of the business, the Win
stated. Some ol those Who ai'
,,a him In obtaining funds were Al
stone and Benjamin Brewster. n
-. York, he said, was the largest
-, porting point at that time and tod
- Hard times came upon the OIL n
In the 70s. The business was o'
done because rehneries had b
. erected 20 rapidly that the pr
-. was much lessened.
-, A recess Of i've minutes was ta
- - TO yentilate the room, and nae
while Mr Rockefeller went over
talked with the newspaper men
Va" suggested that they ought 20 haO
room i've times as large, but Mr..
''' burn said there would be I've ti
Pei as many persons II they did. that
w only way would be 10 charge ada
sion.
'aH! 'Oh. no" said Mr.. R0ckefe
'i0u mot il they are a, nice as the pe
To- here. We want 70 introduce aIi
economies you know.
P, Ia Did you have negotiations after
? Of organization Of the Standard
] Of company OF Ohio with other inter
cap looking 10 their purchase
field Rockefeller Nas asked after tDe
vas cess.
part Yes. 10 the last part Of l@5L
,cke- contaminated negotiations for
then hrm Of Clark, Payne n
the This company was "a very cnu,i
: 81 able refining company, next 20 o..
land. size. The members we're Co, .
more Payue. james II. Clark aus
Huntington.
the The next one that sc b9u4i
that I am right, va, Tie Alexander s
asId * Co. They we're next in
.elop. portauce in the business.
M Of Did these negotiations re,a.
controlling the Clark. Payne N G
rost- Yes.
mary Were there other uegotiation'
lrred Yes. there we're other iea
who concerns having lesser import
aimed which We purchased. don re.
on her the names. ] would say q