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Updated: May 25, 2025
Pleasantly wallowing in the abundant mud of that thoroughfare, and greatly enjoying the huge piles of building belonging to the sugar refiners, the little masts and vanes in small back gardens in back streets, the neighbouring canals and docks, the India vans lumbering along their stone tramway, and the pawnbrokers' shops where hard-up Mates had pawned so many sextants and quadrants, that I should have bought a few cheap if I had the least notion how to use them, I at last began to file off to the right, towards Wapping.
The fact that, unlike the Cleveland refiners, many of the firms in these other cities took Standard stock, and so became parts of the new organization, is in itself significant. They evidently realized that they were casting their fortunes with the winning side. The huge shipments which the Standard now controlled explain this change in front. Every day Mr.
Not, however, towards the 'shops' where cunning artificers work in pearls and diamonds and gold and silver, making their hands so rich, that the enriched water in which they wash them is bought for the refiners; not towards these does Mr Wegg stump, but towards the poorer shops of small retail traders in commodities to eat and drink and keep folks warm, and of Italian frame-makers, and of barbers, and of brokers, and of dealers in dogs and singing-birds.
This was the entering wedge, and throughout the year, although not getting more than a very small proportion of the business, I succeeded in selling occasionally to all of the refiners. The other incident was even more important in its results, for it was the commencement of intimate relations with the important firm which stood at the head of the trade.
They are described as "many gentlemen, a few laborers, several refiners, goldsmiths, and jewellers," and the returning ships were freighted with cedar and with a glittering earth, which was mistaken for gold. Another party is spoken of by a chronicler of the times, as "many unruly gallants sent hither by their friends to escape ill destinies."
"When the time comes to divide this treasure, everyone will be happy, Ole." The treasure was estimated to be the equivalent of ninety millions in gold leaf. A hundred and ten millions in the gross as it now stood, with twenty millions to be deducted by the Federated Refiners for reducing it to the standard purity for commercial use.
The refiners of Cleveland and Pittsburgh were to get lower rates than the refiners located in the oil regions. But the clause in these contracts that caused the greatest amazement and indignation was one which gave the inside group rebates on every barrel of oil shipped by its competitors. It would be difficult to imagine any transaction more wicked than these contracts.
Though the independent oil refiners were combating the most powerful financial power of the time, they were frequently fighting in the dark, never knowing where to deliver their blows. This same characteristic was manifested in the form of corporate existence which the Standard adopted. The first great "trust" was a trust not only in name but in fact.
So far as France is concerned, experiment began with the Lebaudy brothers, originally sugar refiners, who turned their energies to airship construction in 1899. Three years of work went to the production of their first vessel, which was launched in 1902, having been constructed by them together with a balloon manufacturer named Surcouf and an engineer, Julliot.
Levi Haldeman is a representative of another class of our citizens than refiners, who have taken advantage of the petroleum enterprise, and are spending their money in building up the prosperity of the city, turning its energies into channels that cannot fail to give an impetus to all branches of trade, and aid in establishing our financial institutions on a basis of unrivalled strength, and who, at the same time, reap their reward by putting money into their own pockets.
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