The government alleged: Almost everywhere the rates from the shipping points used exclusively, or almost exclusively, by the Standard are relatively lower than the rates from the shipping points of its competitors. They began their independent marketing efforts under their Red Crown trademark in 1912. Its successors such as ExxonMobil, Marathon Petroleum, Amoco, and Chevron are still among the companies with the largest revenues in the world. Standard Oil of Illinois - pre-1911 - bought out by Amoco. Logo And Identity. Amoco Corporation (/ æ m ə k oʊ /; originally, Standard Oil Company (Indiana) until 1985) was an American chemical and oil company that was founded in 1889, around a refinery located in Whiting, Indiana, United States.Originally part of the Standard Oil Trust, it focused on gasoline for the new automobile market.In … (Several of these companies were considered among the Seven Sisters who dominated the industry worldwide for much of the 20th century.) [citation needed]. (Legislators established such restrictions in the hope that they would force successful companies to incorporate—and thus pay taxes—in their state. Eventually, the state of New Jersey changed its incorporation laws to allow a company to hold shares in other companies in any state. The Standard Oil logo uses the red, white and blue of the American flag, and often the Standard Oil's pre-history began in 1863, as an Ohio partnership formed by industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, silent partner Stephen V. Harkness, and Oliver Burr Jennings, who had married the sister of William Rockefeller's wife. In no time, it has developed into one of the most powerful business empires in the USA. [27] For its Chinese trademark and brand Standard Oil adopted the name Mei Foo (Chinese: 美孚), (which translates to Mobil). But that all changed in 1911 when the company was forced to fracture into a number of parts due to the firm being … STANDARD OIL COMPANY. Standard Oil 1889-1911 (Involved In 1911 Breakup) Standard Oil Of Indiana 1911-1925 Amoco/American Oil Company 1925-1998 BP 1998–Present Early years Standard Oil began as an Ohio partnership formed by the well-known industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, and a silent partner Stephen V. Harkness. [49] The dissolution had actually propelled Rockefeller's personal wealth.[50]. Response was positive, sales boomed and China became Standard Oil's largest market in Asia. For successor companies with similar names, see, Monopoly charges and antitrust legislation. [9], In the early years, John D. Rockefeller dominated the combine; he was the single most important figure in shaping the new oil industry. A subsidiary company, the California Arabian Standard Oil Company (CASOC), was created to manage the agreement. It maintained the trademark rights to the Standard and Esso brands in the states where it held those rights by selling Esso Diesel in those states at stations that sell diesel fuel , thus … In the Asia-Pacific region, Jersey Standard had oil production and refineries in Indonesia but no marketing network. Mar 22, 2012 - The logo of Standard Oil Company's broken up parts after 1911. Rockefeller ran the company as its chairman, until his retirement in 1897. In 1870, Rockefeller abolished the partnership and incorporated Standard Oil in Ohio. By 1882, his top aide was John Dustin Archbold. Publication date 1905 Topics Rockefeller, John D. (John Davison), 1839-1937, Standard Oil Company Publisher New York : McClure Collection robarts; toronto Digitizing sponsor MSN Contributor Robarts - University of Toronto … The early history of this company is a thrilling story, for its foundershad to encounter not only the usual difficulties of a new and untried enterprise,but to fight for control of their company when a traitorous minority interesttried to seize possession of and sell the company to the Standard Oil Company,which at that … The evidence is, in fact, absolutely conclusive that the Standard Oil Co. charges altogether excessive prices where it meets no competition, and particularly where there is little likelihood of competitors entering the field, and that, on the other hand, where competition is active, it frequently cuts prices to a point which leaves even the Standard little or no profit, and which more often leaves no profit to the competitor, whose costs are ordinarily somewhat higher. This article is about an oil company that was dissolved in 1911. Cochran, S., Encountering Chinese Networks: Western, Japanese, and Chinese Corporations in China, 1880–1937, University of California Press, 2000, p. 38. The logo of Standard Oil Company's broken up parts after 1911. To protect its trademark Chevron has one station in each state it owns the rights to branded as Standard. Although Standard had 90 percent of American refining capacity in 1880, by 1911, that had shrunk to between 60 and 65 percent because of the expansion in capacity by competitors. "The Later History of the Standard Oil Co.,", This page was last edited on 18 February 2021, at 15:59. In response to state laws that had the result of limiting the scale of companies, Rockefeller and his associates developed innovative ways of organizing to effectively manage their fast growing enterprise. [39] The federal Commissioner of Corporations studied Standard's operations from the period of 1904 to 1906[40] and concluded that "beyond question ... the dominant position of the Standard Oil Co. in the refining industry was due to unfair practices—to abuse of the control of pipe-lines, to railroad discriminations, and to unfair methods of competition in the sale of the refined petroleum products". [citation needed] Smaller companies decried such deals as unfair because they were not producing enough oil to qualify for discounts. This scolding was largely moot to Standard Oil's interests since long-distance oil pipelines were now their preferred method of transportation.[16]. In the early 1900s, Standard Oil was one of the largest names in the world. Aera Energy | Esso | Exxon | Exxon Neftegas (Russia) | Federal Oil (Indonesia) | Federal Mobil (Indonesia) | Imperial Oil (Canada) | Mobil (1) | Synergy | XTO Energy, Former/defunct assets: . From 1882 to 1906, Standard paid out $548,436,000 in dividends at 65.4% payout ratio. Three supermajor companies now own the rights to the Standard name in the United States: ExxonMobil, Chevron Corp., and BP. Some economic historians have observed that Standard Oil was in the process of losing its monopoly at the time of its breakup in 1911. BP continues to sell marine fuel under the Sohio brand at various marinas on Ohio waterways and in Ohio state parks in order to protect its rights in the Sohio and Standard Oil names. Critics claimed that success in meeting consumer needs was driving other companies out of the market who were not as successful. Anderson, Irvine H. Jr., The Standard-Vacuum Oil Co. and United States East Asian Policy, 1933–1941, Princeton University Press, 1975, p. 16. In 1870, John Rockefeller founded an oil company and called it Standard Oil. While other companies' refineries piled mountains of heavy waste, Rockefeller found ways to sell it. [7] Its history as one of the world's first and largest multinational corporations ended in 1911, when the U.S. Supreme Court ruled, in a landmark case, that Standard Oil was an illegal monopoly. [30], The North China Department of Socony (Standard Oil Company of New York) operated a subsidiary called Socony River and Coastal Fleet, North Coast Division, which became the North China Division of Stanvac (Standard Vacuum Oil Company) after that company was formed in 1933. Logopedia is a FANDOM Lifestyle Community. In nearby states, it used the "Boron" brand name instead, but with an … Standard Oil of Missouri – pre-1911 – dissolved. The company was perceived to own and control all aspects of the trade. Explore. [20][21] Standard Oil of Minnesota – pre-1911 – bought out by Amoco. This is the full and complete digital version of both volumes, plus all appendices, illustrations, charts, tables, footnotes, index and fully hyperlinked. 1 1880–1911 2 1911–1923 3 1923–1934 4 1934–1965 5 1965–present 6 See also Add a photo to this gallery This logo is very similar to the Enco logo. In 1968, Mobil adopted new-look Pegasus service stations. The name comes from the abbreviation S.O., for Standard Oil. Most of its output was kerosene, of which 55 percent was exported around the world. [28][29] Mei Foo also became the name of the tin lamp that Standard Oil produced and gave away or sold cheaply to Chinese farmers, encouraging them to switch from vegetable oil to kerosene. It operated service stations under the "Sohio" brand name in Ohio but was prohibited in using the Standard name in other states. Journal of Economic Perspectives 33(3): 94-117. For inland distribution the company had motor tank trucks and railway tank cars, and for river navigation it had a fleet of low-draft steamers and other vessels. The color palette featured such shades … cit., (p.113). The Chart of the Week is a weekly Visual Capitalist feature on Fridays.. A couple of weeks ago, we published an infographic showing how the list of the most valuable companies in the U.S. has changed drastically over the last 100 years.. Near the top of that list in 1917 is The Standard Oil … In 1911, Standard Oil faced it… Socony-Vacuum had Asian marketing outlets supplied remotely from California. Take your favorite fandoms with you and never miss a beat. [47], On May 15, 1911, the US Supreme Court upheld the lower court judgment and declared the Standard Oil group to be an "unreasonable" monopoly under the Sherman Antitrust Act, Section II. [33] Up to 13 tankers operated on the Yangtze River, the largest of which were Mei Ping (1,118 gross register tons (GRT)), Mei Hsia (1,048 GRT), and Mei An (934 GRT). The company grew by increasing sales and through acquisitions. Defenders of Standard Oil insist that the company did not restrain trade; they were simply superior competitors. Merchandise Designs. Other notable Standard Oil principals include Henry Flagler, developer of the Florida East Coast Railway and resort cities, and Henry H. Rogers, who built the Virginian Railway. The Standard Oil Trust effectively eliminated competition. [36][37], Standard Oil Company and Socony-Vacuum Oil Company became partners in providing markets for the oil reserves in the Middle East. The Anderson Ferry Marina near Cincinnati, Ohio is pictured. [11]:35 He quickly distributed power and the tasks of policy formation to a system of committees, but always remained the largest shareholder. According to Daniel Yergin in his Pulitzer Prize-winning The Prize: The Epic Quest for Oil, Money, and Power (1990), this conglomerate was seen by the public as all-pervasive, controlled by a select group of directors, and completely unaccountable. On January 2, 1882,[17] they combined their disparate companies, spread across dozens of states, under a single group of trustees. People also love these ideas. After 1900 it did not try to force competitors out of business by underpricing them. In 1931 Standard Oil Company of New York merged with Vacuum Oil Company (another trust company) to form Socony-Vacuum, which in 1966 became Mobil Oil … 15. Standard Oil Co. was an American oil-producing, transporting, refining, and marketing company. Its oil-fuel burners came from the U.S. and water-tube boilers came from England. An example of this thinking was given in 1890, when Rep. William Mason, arguing in favor of the Sherman Antitrust Act, said: "trusts have made products cheaper, have reduced prices; but if the price of oil, for instance, were reduced to one cent a barrel, it would not right the wrong done to people of this country by the trusts which have destroyed legitimate competition and driven honest men from legitimate business enterprise".[56]. [8] Rockefeller chose the "Standard Oil" name as a symbol of the reliable "standards" of quality and service that he envisioned for the nascent oil industry. In the two earliest logotypes, blue and red angles had a white angle of the same width in between. The successor companies form the core of today's US oil industry. Today, "Gargoyle" is a Mobil product line of lubricants for industrial refrigeration systems. After 1896, Rockefeller disengaged from business to concentrate on his philanthropy, leaving Archbold in control. Design. This was the site of the company's Pico No. This logo is very similar to the Enco logo. BP station with "torch and oval" Standard sign in Durand, Michigan. Standard Oil's market position was initially established through an emphasis on efficiency and responsibility. Naomi R. Lamoreaux. This logo and TradeMark was filed on September 16, 1941 and was … 4 field, California's earliest … Early in its history, Mobil marketed its oil products using the "Gargoyle" name. In 1872, Rockefeller joined the South Improvement Co. which would have allowed him to receive rebates for shipping and drawbacks on oil his competitors shipped. STANDARD OIL of INDIANA - History in short. The government identified four illegal patterns: (1) secret and semi-secret railroad rates; (2) discriminations in the open arrangement of rates; (3) discriminations in classification and rules of shipment; (4) discriminations in the treatment of private tank cars. A. Barton Hepburn was directed by the New York State Legislature in 1879, to investigate the railroads' practice of giving rebates within the state. The history of the Standard Oil Company by Tarbell, Ida M. (Ida Minerva), 1857-1944. It was the world’s largest industrial merger at the time. The lawsuit argued that Standard's monopolistic practices had taken place over the preceding four years: The general result of the investigation has been to disclose the existence of numerous and flagrant discriminations by the railroads in behalf of the Standard Oil Co. and its affiliated corporations. One of 15 Chevron stations branded as "Standard" to protect Chevron's trademark; this one is in Las Vegas, Nevada. With comparatively few exceptions, mainly of other large concerns in California, the Standard has been the sole beneficiary of such discriminations. [19] “Whereas some state legislatures imposed special taxes on out-of-state corporations doing business in their states, other legislatures forbade corporations in their state from holding the stock of companies based elsewhere. Prior to Pearl Harbor, Stanvac was the largest single U.S. investment in Southeast Asia. Prior to the committee's investigation, few knew of the size of Standard Oil's control and influence on seemingly unaffiliated oil refineries and pipelines—Hawke (1980) cites that only a dozen or so within Standard Oil knew the extent of company operations. The committee's final report scolded the railroads for their rebate policies and cited Standard Oil as an example. The colors of this logo are red, white and blue. Use of the trademark continued until 1930. ESSO sells goods and services of SAVINGS BANKS. In 1909, the U.S. Justice Department sued Standard under federal antitrust law, the Sherman Antitrust Act of 1890, for sustaining a monopoly and restraining interstate commerce by: Rebates, preferences, and other discriminatory practices in favor of the combination by railroad companies; restraint and monopolization by control of pipe lines, and unfair practices against competing pipe lines; contracts with competitors in restraint of trade; unfair methods of competition, such as local price cutting at the points where necessary to suppress competition; [and] espionage of the business of competitors, the operation of bogus independent companies, and payment of rebates on oil, with the like intent.[44]. Tiger. By a secret agreement, the existing 37 stockholders conveyed their shares "in trust" to nine trustees:[18] John and William Rockefeller, Oliver H. Payne, Charles Pratt, Henry Flagler, John D. Archbold, William G. Warden, Jabez Bostwick, and Benjamin Brewster. Chevron's earliest predecessor, Pacific Coast Oil Co., was incorporated in 1879 in San Francisco. Thus, in 1957, the word "American," together with the Standard Oil (Indiana) logo, was used in all other states. The Mei Foo Shield, May 1926, November 1927, Rosenbaum, David Ira. A big torch in the center of the logo symbolized the bright future of the oil industry. Antitrust: The Case for Repeal. The company’s corporate colors — red, white, and blue — stood for the colors of the American flag, appealing to patriotic feelings. The red Pegasus remains among the most recognized corporate symbols in American petroleum history. In recent years Standard has been the recipient of numerous awards from the Better Business Bureau, named a Top Workplace in Connecticut, and voted the Best Oil Company in Connecticut … Mei Ping ("Beautiful Tranquility"), launched in 1927, was designed offshore, but assembled and finished in Shanghai. Mei Hsia, a tanker, was specially designed for river duty and was built by New Engineering and Shipbuilding Works of Shanghai, who also built the 500-ton launch Mei Foo in 1912. Over time, Chevron has changed which station in a given state is the Standard station. In a seminal deal, in 1868, the Lake Shore Railroad, a part of the New York Central, gave Rockefeller's firm a going rate of one cent a gallon or forty-two cents a barrel, an effective 71% discount from its listed rates in return for a promise to ship at least 60 carloads of oil daily and to handle load and unload on its own. D. Rockefeller, William Rockefeller, Henry M. Flagler and Jabez Abel Bostwick - 1882, CHARLES A. WHITESHOT: THE OIL-WELL DRILLER.A HISTORY OF THE WORLD'S GREATEST ENTERPRISE, THE OIL INDUSTRY, https://en.wikipedia.org/w/index.php?title=Standard_Oil&oldid=1007523509, Defunct oil companies of the United States, History of the petroleum industry in the United States, Non-renewable resource companies established in 1870, Non-renewable resource companies disestablished in 1911, 1911 disestablishments in New York (state), American companies disestablished in 1911, Articles with dead external links from May 2018, Articles with permanently dead external links, Articles with unsourced statements from July 2008, Wikipedia articles needing clarification from September 2017, Articles containing Chinese-language text, Articles with unsourced statements from February 2008, Articles needing additional references from January 2019, All articles needing additional references, Articles with unsourced statements from February 2018, Creative Commons Attribution-ShareAlike License, After its dissolution in 1911, the original Standard Oil Co. split into, Anglo-American Oil Co. – acquired by Jersey Standard in 1930, now. Her work was published in 19 parts in McClure's magazine from November 1902 to October 1904, then in 1904 as the book The History of the Standard Oil Co. In 1911, after dissolution of the Standard Oil empire, eight companies retained “Standard Oil” in their names, but by the late 20th century the name had almost passed into history. 2019. Publication date 1904 Topics Standard Oil Company Publisher New York : McClure, Phillips Collection kellylibrary; toronto Digitizing sponsor MSN Contributor Kelly - University of Toronto Language English. Congressional Record, 51st Congress, 1st session, House, June 20, 1890, p. 4100. investigate the railroads' practice of giving rebates within the state, Standard Oil Co. of New Jersey v. United States, The Prize: The Epic Quest for Oil, Money, and Power, Learn how and when to remove this template message, Standard Oil Gasoline Station (disambiguation), "The Standard Oil Company; Ohio Charter No. Union Oil - - — -- 5911 59 1 Yes (inc.) (aban.) Manns, Leslie D., "Dominance in the Oil Industry: Standard Oil from 1865 to 1911" in David I. Rosenbaum ed., Rockefeller the richest man after the dissolution of 1911—see Yergin, op. 3675", "WARDEN WINTER HOME - Florida Historical Markers on Waymarking.com", "Jacob Vandergrift…Transportation Pioneer - Oil150.com", "Random Reminiscences of Men and Events by John D. Rockefeller", "Standard Oil Company and Trust | American corporation", "Antitrust with a Vengeance: The Obama Administration's Anti-Business Cudgel", "The Sherman Antitrust Act and Standard Oil", "A Guide to the ExxonMobil Historical Collection", "Standard Oil Company - Ohio History Central", "The Investing Secrets of the Richest Man the World Has Ever Known", "Commission Decision of 24.03.2004 relating to a proceeding under Article 82 of the EC Treaty (Case COMP/C-3/37.792 Microsoft)", "AT&T Move Is a Reversal Of Course Set in 1980's", "Ashland Oil & Refining Company - Lehman Brothers Collection". After extensive interviews with a sympathetic senior executive of Standard Oil, Henry H. Rogers, Tarbell's investigations of Standard Oil fueled growing public attacks on Standard Oil and on monopolies in general. In the 1890s, Standard Oil began marketing kerosene to China's large population of close to 400 million as lamp fuel. Market dominance: how firms gain, hold, or lose it and the impact on economic performance. It was a circular badge with lettering around its perimeter and a “Security Oil” banner in the middle. [15] Using highly effective tactics, later widely criticized, it absorbed or destroyed most of its competition in Cleveland in less than two months[how?] The Evolution of Standard Oil Rockefeller’s juggernaut was split into 34 companies. [23] At this point in time, state and federal laws sought to counter this development with antitrust laws. She had a length of 206 feet (63 m), a beam of 32 feet (9.8 m), depth of 10 feet 6 inches (3.2 m), and had a bullet-proof wheelhouse. Her father was an oil producer whose business had failed because of Rockefeller's business dealings. Saudi Aramco traces its beginnings to 1933 when a Concession Agreement was signed between Saudi Arabia and the Standard Oil Company of California (SOCAL). Standard Oil, being formed well before the discovery of the Spindletop oil field (in Texas, far from Standard Oil's base in the Midwest) and a demand for oil other than for heat and light, was well placed to control the growth of the oil business. Since a five-letter name was easier for motorists to note, in 1961 the company began to replace the brand name American with Amoco, the name first coined by American Oil's original owners for the high-octane, anti … Voted Best Oil Company in Connecticut, our commitment to customer satisfaction is unrivaled. As we celebrate our 100th anniversary, Standard Oil has become the largest family-owned heating oil company in Connecticut. By 1931 growth of the automobile industry expanded the Vacuum Oil product lineup to include Pegasus Spirits and Mobilgas – later simplified to Mobil. In 1931, Socony merged with Vacuum Oil Co., an industry pioneer dating back to 1866, and a growing Standard Oil spin-off in its own right.[52]. The History of the Standard Oil Company is a 1904 book by journalist Ida Tarbell.It is an exposé about the Standard Oil Company, run at the time by oil tycoon John D. Rockefeller, the richest figure in American history.Originally serialized in nineteen parts in McClure's magazine, the book is a seminal … 191 BARDSDALE. Rockefeller used the Erie Canal as a cheap alternative form of transportation—in the summer months when it was not frozen—to ship his refined oil from Cleveland to New York City. For example, Standard created the first synthetic competitor for beeswax and bought the company that invented and produced Vaseline, the Chesebrough Manufacturing Co., which was a Standard company only from 1908 until 1911. In 1870, Rockefeller abolished the partnership and incorporated Standard Oil in Ohio. This logo was designed by Tom Geismar of Chermayeff & Geismar. The Mei Foo Shield, A monthly publication of the North China Department of Standard Oil Co. of New York for its Far Eastern Staff. [54] Standard Oil of Indiana officially became Amoco Corporation in 1985 and merged with British Petroleum (now BP) in 1998. The committee counsel, Simon Sterne, questioned representatives from the Erie Railroad and the New York Central Railroad and discovered that at least half of their long-haul traffic granted rebates, and that much of this traffic came from Standard Oil. In 1911, the U.S. Justice Department sued the group under the federal antitrust law and ordered its breakup into 34 companies. The Standard Oil trust streamlined production and logistics, lowered costs, and undercut competitors. Manns, Leslie D. "Dominance in the Oil Industry: Standard Oil from 1865 to 1911" in David I. Rosenbaum ed, Montague, Gilbert Holland. Axion Energy | Enco | Hefty | Petron. Standard Oil's pre-history began in 1863, as an Ohio partnership formed by industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, silent partner Stephen V. Harkness, and Oliver Burr Jennings, who had married the sister of William Rockefeller's wife. ExxonMobil trades as Esso internationally. This logo was used for stations on the US East Coast until 1961 when Amoco changed its name to American Oil. After purchasing competing firms, Rockefeller shut down those he believed to be inefficient and kept the others. 1999. p. 57. Standard's actions and secret[13] transport deals helped its kerosene price to drop from 58 to 26 cents from 1865 to 1870. Of t… In 1911, Standard controlled only 44 percent of production in the Midcontinent, 29 percent in California, and 10 percent on the Gulf Coast.[57]. John Dustin Archbold, as president of Acme Oil Company, denied that Acme was associated with Standard Oil. Authority was centralized in the company's main office in Cleveland, but decisions in the office were made in a cooperative way.[12]. But, as he owned a quarter of the shares of the resultant companies, and those share values mostly doubled, he emerged from the dissolution as the richest man in the world. If you are looking for heating oil and propane delivery as well as fast, 24-hour service from a family-owned company you can trust – call Standard Oil … [citation needed] Some of its Standard-branded stations have a mix of some signs that say Standard and some signs that say Chevron. Decal Design. But when this deal became known, competitors convinced the Pennsylvania Legislature to revoke South Improvement's charter. Ludwig von Mises Institute. [51][52] Two of these companies were Standard Oil of New Jersey (Jersey Standard or Esso), which eventually became Exxon, and Standard Oil of New York (Socony), which eventually became Mobil; those two companies later merged into ExxonMobil. Saved by Raj Patel. The result was that although in 1911 Standard still controlled most production in the older regions of the Appalachian Basin (78 percent share, down from 92 percent in 1880), Lima-Indiana (90 percent, down from 95 percent in 1906), and the Illinois Basin (83 percent, down from 100 percent in 1906), its share was much lower in the rapidly expanding new regions that would dominate U.S. oil production in the 20th century. No oil was ever shipped under this arrangement. BP acquired its rights through acquiring Standard Oil of Ohio and merging with Amoco, and has a small handful of stations in the Midwestern United States using the Standard name. 1956–1961 (secondary) While the torch and oval did make its debut in 1947, the "Amoco" name didn't appear on the logo until 1956, when they took over the Pan-Am stations in the South. [38], By 1890, Standard Oil controlled 88 percent of the refined oil flows in the United States. Standard Oil of Ohio, considered the “grandfather” of the Standard companies, retained use of the Red Crown image and trademark at the time of the breakup. A torch requires fuel to burn, and the makers of the logo sought to point out that American needed fuel to thrive and grow.