He will temper the wind to the shorn lamb, and I will send some of the things back if there is some that won't keep. Rogers, acting on behalf of Charles Pratt and Company negotiated its lease to the Chesapeake and Ohio Railway (C&O) in 1901 and its sale to a newly formed C&O subsidiary, Kanawha and Paint Creek Railway Company, in 1902. The bank which bares his name is still active today. He was also the guy who thought of using long pipelines to transport oil instead of railway cars. Not only did financier J.P. Morgan single handedly save the US Government during 1895's gold crisis, but he also was critical in the helping launch major corporations like GE and US Steel. Another son died at birth. After the family moved to New York in 1866, Cara Leland Rogers was born in Fairhaven in 1867, Millicent Gifford Rogers was born in 1873, followed by Mary Huttleston Rogers (known as "Mai") in 1875. By the 1890s, as Rockefeller was withdrawing from the oil business, Rogers was a dominant figure at Standard Oil. Rogers conceived the idea of long pipelines for transporting oil and natural gas. They were collected and published as The History of the Standard Oil Company in 1904. [4] He became particularly well skilled at calculating transportation costs, a skill which would later serve him well. He quietly accepted the offer on the exact terms Rogers had laid out. Washington told about Rogers' philanthropy: "funding the operation of at least 65 small country schools for the education and betterment of African Americans in Virginia and other portions of the South, all unknown to the recipients." Standard Oil's interest in steel properties led to Rogers becoming one of the directors when it was organized in 1901.[5]. Edwin Stafford Nelson (December 21, 1928 – August 9, 2014) was an American actor, best known for his role as Dr. Michael Rossi in the ABC television series Peyton Place.. Nelson appeared in episodes of many television programs, more than fifty motion pictures, and hundreds of stage productions. A holding company aimed at controlling copper production and distribution, Amalgamated Copper controlled the copper mines of Butte, Montana and later became Anaconda Copper Company, a revert to its original name. Pittsburgh based Andrew W. Mellon made a fortune along with his brother Richard Mellon in finance when the pair helped launch major corporations like Gulf Oil and The Aluminum Company of America. In 1870, Rockefeller formed Standard Oil Company of Ohio and started his strategy of buying up the competition and consolidating all oil refining under one company. Newspapers were quick to publicize the issue. As the demand for kerosene and a new byproduct, gasoline, grew in the United States, by 1868, what was to become Standard Oil was the world's largest oil refinery. In fact, these rip roaring capitalists were striking examples of the gleeful swashbuckling, the innocence and guilt of what Mark Twain and Charles Dudley Warner called 'The Gilded Age.'. The Millicent Library was completed in 1893 and was a gift to the Town by the Rogers children in memory of their sister Millicent, who had died in 1890 at the age of 17. (I have never seen any documentation that involves Rogers in this railroad, and comments by Gov. Both parents were Yankees and were descended from the Pilgrims who arrived in 1620 aboard the Mayflower. #40: James C. Flood – $34 billion (1826-1889, silver mines). They began to meet in January 1902 and continued for the next two years. His publishing company ended up going bankrupt, and he lost thousands of dollars on a typesetting machine that was never quite perfected for commercial use. Although public opposition to Rockefeller and Standard Oil existed prior to Tarbell's investigation, there had been general opposition to Standard Oil and trusts. In 1885, the headquarters were relocated from Cleveland to New York City. The oldest person on our list of richest Americans, Girard was born in 1750 and died in 1831. Twain had some very bad times with his businesses. Rogers was an energetic man, and exhibited ruthlessness, and iron determination. While in Florida, Flagler was struck with the lack of good rail transportation south of Jacksonville, the equally poor availability of good lodging, and the potential the impoverished state held as a vacation destination for northerners. 1924–1925. He undoubtedly placed a high value on Rogers' potential. Once again, new coal mining territory was involved. Henry, his first wife Abbie, and several family members are interred there. #24: John I. Blair – $47 billion (1802 – 1899, railroads). Oliver Payne was one of John D. Rockefeller's partners in Standard Oil and had a net worth equivalent to $40.4 billion. 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. ... and with the help of Henry Huttleston Rogers eventually overcame his financial troubles. History does not tell us if he foresaw that the promising young man was destined to become one of his major partners. Continuing to live with his parents, he was hired on with the Fairhaven Branch Railroad, an early precursor of the Old Colony Railroad, as an expressman and brakeman. In 1896, Rogers remarried to Emelie Augusta Randel Hart, a divorcée and New York socialite. It also forbids inspirations to secure monopoly of a given industry. Rogers, Henry Huttleston (January 29, 1840 -May 19, 1909), capitalist, was the son of Rowland and Mary Eldridge (Huttleston) Rogers, both of early New England ancestry. #36: Michael Bloomberg – $36.5 billion (1942 – present, Bloomberg LLP), #35: George Pullman – $37 billion (1831 – 1897, railway inventions). In Virginia and West Virginia, former employees, area residents, and enthusiasts of the Virginian Railway consider the entire railroad to have been a memorial to him. At the time of this death in 1831 Stephen Girard's was the richest man in America with a net worth of  $105 billion! This mule-drawn transportation was expensive and fraught with difficulties: leaking barrels, muddy trails, wagon breakdowns and mule/driver problems. TWS. He was instrumental in the education of Helen Keller. In 1893, a mutual friend introduced Rogers to humorist Mark Twain. During the 1890s, Rogers became interested in Anaconda and other copper properties in the western United States. Collis' son Henry donated the entire family fortune to charitable causes predominantly in Southern California. When New York's elite refused to allow the unpopular Gould to purchase a private box at the New York Opera he built a much nicer and bigger opera house down the street, The New York Met. Mrs. Rogers is at the White Mountains. Its line ran 15 miles (24 km) from the Kanawha River up a tributary called Paint Creek. Borrowing another US$600, the young partners began a small refinery at McClintocksville near Oil City. His behavior in public Court Proceedings provide some of the better examples and some insight. #12: Marshall Field – $66 billion (1834 – 1906, Marshall Field & Company). Rubber-manufacturing city Akron, Ohio, was the first to take advantage of the lower prices for natural gas. Harriman saved the railroad which made him one of the richest men alive. Flagler, nine years senior to Rockefeller, had been completely wiped out financially in a venture into salt. It is bordered by Pennsylvania to the northeast, Maryland to the east and northeast, Virginia to the southeast, Kentucky to the southwest, and Ohio to the northwest. In the building of this great trust, some of the most ruthless strokes in modern business history were dealt: the $38,000,000 "watering" of the stock of the first corporation, its subsequent manipulation, the seizure of the copper property of the Butte & Boston Consolidated Mining Company, the using of the latter as a weapon against the Boston & Montana Consolidated Copper and Silver Mining Company, the guerrilla warfare against certain private interests, and the wrecking of the Globe Bank of Boston. Urged on by Twain, Rogers and his second wife financed her college education. However, if so, the ploy was foiled by collusion of the bigger railroads, who were both controlled by the Pennsylvania Railroad and agreed with each other to neither purchase it or grant favorable interchange rates. Before the Hepburn Committee of 1879, investigating the railroads of New York, he fine-tuned his circumlocutory, ambiguous, and haughty responses. In 1869 alone Stewart's net worth was estimated at over $1 million and when he died in 1876 his fortune was worth $90 billion in 2012 dollars! He made his fortune in the oil refinery business, becoming a leader at Standard Oil.He played a major role in numerous corporations and business enterprises, in the gas industry, copper, and railroads. When Taylor died in 1882 he had amassed a net worth equivalent to $48.1 billion. The injustice of the South Improvement scheme outraged many independent oil producers and owners of refineries. #20: William Weightman – $48.1 billion (1813 – 1904, chemicals and land). #19: James G. Fair – $49.2 billion (1831 – 1894, silver mining, real estate). They had five surviving children together, four girls and a boy. George Pullman invented a railway sleeping car which he named after himself the "Pullman Sleeper". [6], Andrew Carnegie, long the leading steel magnate of Pittsburgh, retired at the turn of the 20th century, and refocused his interests on philanthropy. The company launched its business by selling to consumers in northeast Ohio gas produced by another National Transit subsidiary, Hope Natural Gas Company. #5: John Jacob Astor – $121 billion (1763 – 1848, New York City real estate). It granted the East Ohio Gas Company a franchise in September 1898, the same month that the company was founded. John D. Rockefeller, long regarded as the principal founder, was of a modest background and education. The 10 Richest Americans Of All Time After Adjusting For Inflation (Updated List! Henry Huttleston ("H. H.") Rogers (January 29, 1840 – May 19, 1909) was an American Industrialist and financier. Standard Oil was broken up by the US government for being a monopoly and was eventually broken up into what eventually became Amoco, Chevron Conoco, and ExxonMobil. Central Pacific Railroad magnate Collis Potter Huntington made a fortune connecting the Union Pacific Railroad with the Western US. John Jacob Astor made his first fortune by dominating the fur trade in the US. Tarbell's investigations of Standard Oil for McClure's, ran in 19 parts from November 1902 to October 1904. He began a 15 year long friendship with financier Henry Huttleston Rogers, a principal of Standard Oil. Henry H. Rogers & Mark Twain (Public Domain) When Mark Twain (1835-1910) collaborated on a satire titled “The Gilded Age” he was unaware the caricatures he was describing of leading politicians and industrialists of the 1870’s would eventually come into fruition as … On May 19, 1909, Rogers died suddenly of a stroke. This act is the source of all American anti-monopoly laws. Henry Huttleston Rogers, Fairhaven's most distinguished son, was born there Jan. 29, 1840, and died May 19, 1909, in New York City. Some speculate that the Deepwater Railway was probably intended for resale in the manner of the earlier two West Virginia short lines. The law forbids every contract, scheme, deal, conspiracy to restrain trade. These include Rogers School, Town Hall, Millicent Library, Unitarian Memorial Church, and Fairhaven High School. A strange dualism characterized Rogers. Many historians consider the Virginian Railway to be one of Henry Rogers' greatest legacies. His son, Henry Huttleston Rogers, worked in the store after school, delivering newspapers and groceries by wagon, but the boy had an outsize measure of his father’s ambition for business. Before he gave most of his fortune away, Warren Buffett's net worth peaked at $64 billion. Huddleston, Eugene L. "Rogers, Henry Huttleston"; Manns, Leslie D. "Dominance in the Oil Industry: Standard Oil from 1865 to 1911" in David I. Rosenbaum ed, Messent, Peter. His work made him the richest man in the world for a time with a 2012 equivalent net worth of $36 billion. In 1890 the U.S. Congress passed Sherman Antitrust Act. Eventually Carnegie became the head of US Steel which catapulted him to the upper echelons of American wealth. railway enthusiasts groups has more than 800 members. Anyone else want to launch a railroad??!! The Dutch gave his family over a million acres of land in New York which he managed until his death in 1839 at which time he had acquired a net worth equivalent to $68 billion in today's money. He was considered one of the last & great "robber barons" of his day, as times were changing. 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. In 1881 the company was reorganized as the Standard Oil Trust. His Model T was designed to appeal to the masses and was a smash hit. The next day, Rogers contacted the educator and invited him to his offices. A descendant of the original Mayflower Pilgrims, he made his fortune in the oil refining business, becoming a leader at Standard Oil. James G. Fair made his first fortune as one of James Flood's partners in a Virginia silver mine then went on to more than triple his net worth through real estate investments in California. After 1890, he became a prominent philanthropist, as well as a friend and supporter of Mark Twain and Booker T. Washington. They set out to western Pennsylvania and its newly discovered oil fields. One of his mines in Virginia had the biggest mineral strike in US history. When she was 20, Keller passed with distinction the entrance examination to Radcliffe College. In 1899, Rogers set up the Amalgamated Copper trust, based in Butte, Montana, that dominated an industry in high demand as the nation needed wire to build its electric networks. He also lost a great deal of revenue on royalties from his books being plagiarized before he had a chance to publish them himself. Its successors continued to be among the world's biggest corporations over 140 years later. I thought it was one of ourn. It was to be a very successful combination. His first job was as an assistant bookkeeper for a produce company. In the early 1871-72, Pratt and Company and other refiners became involved in a conflict with John D. Rockefeller, Samuel Andrews, and Henry M. Flagler (of Rockefeller, Andrews & Flagler, a Cleveland-based refining company) and the South Improvement Company. Those 10 billionaires have fortunes ranging from $37 billion (Alice Walton) and $86 billion (Gates). By this date, Charles Pratt was reaching an age to consider retirement, and he subsequently devoted much of his time and interests to activities such as founding the Pratt Institute. A descendant of the original Mayflower Pilgrims, he made his fortune in the oil refining business, becoming a leader at Standard Oil. A representative case of an exceptional relationship was Washington's friendship with millionaire industrialist and financier Henry H. Rogers (1840–1909). A monument, which now stands on the west lawn of Fairhaven High … [citation needed], Building Standard Oil with John D. Rockefeller. A granite shaft on the High School lawn is dedicated to Rogers. Field died in 1906 with a relative net worth of $66 billion much of which came from investments in Chicago real estate. He played a major role in numerous corporations and business enterprises, in the gas industry, copper, and railroads. He had the Tabitha Inn built in 1905, and a new Fairhaven High School, called "Castle on the Hill," was completed in 1906. In 1881, the National Transit Company was formed by Standard Oil to own and operate Standard's pipelines. In 1907, the name of the Tidewater Railway was changed to The Virginian Railway Company, and it acquired the Deepwater Railway to form the needed West Virginia-Virginia link. He also played a … #39: Mark Zuckerberg – $35 billion (1984 – present, Facebook), #38: Peter A.B. He was granted U.S. Patent # 120,539 on October 31, 1871. At the time of his death in 1937 Andrew Mellon's net worth was the equivalent of $50.5 billion. Net worth: USD $150 million at the time of his death (About USD $2,138,125,867.42 today)(approximately 1/609th of US GNP) In 1861, 21-year-old Henry pooled his savings of approximately US$600 with a friend, Charles P. Ellis. Their friendship, in short, was based on a community of interests and on the fact that each, in some way, needed the other. In 1867, with Henry Rogers as a partner, he established the firm of Charles Pratt and Company. The Kanawha, at 471-tons, was 200 feet (61 m) long and manned by a crew of 39. In their separate forays into business, financial results for the two had been mixed. Rogers reorganized Twain's tangled finances, and the two became close friends for the rest of Rogers' life. Washington became a frequent visitor to Rogers' office, his 85-room mansion in Fairhaven, and the yacht. Except for a brief move to Mattapoisett, Massachusetts, during Rogers' early childhood, the family lived in Fairhaven, a fishing village across the Acushnet River from the whaling port of New Bedford. His last major enterprise was building the Virginian Railroad to service the West Virginia coal fields. He invested heavily in various industries, including copper, steel, mining, and railways. #7: A.T. Stewart – $90 billion (1803 – 1876, dry goods). An exaggerated estimate makes him out as in the top 25 wealthiest men in America of all time. [8], By 1907, Rogers was a member of the Consolidated Stock Exchange of New York, one of around 13,000.[9]. Mark Twain's Correspondence with Henry Huttleston Rogers, 1893–1909, Dr. Booker T. Washington papers—comments about Henry Rogers, Virginian Railway (VGN) Enthusiasts Group, The Story of Fairhaven compiled by Thomas Tripp in 1929, Works by or about Henry Huttleston Rogers, https://en.wikipedia.org/w/index.php?title=Henry_Huttleston_Rogers&oldid=990707233, 19th-century American railroad executives, American businesspeople in the oil industry, American railroad executives of the 20th century, Articles with dead external links from April 2017, Articles with permanently dead external links, Articles needing additional references from September 2017, All articles needing additional references, Wikipedia external links cleanup from September 2017, Wikipedia spam cleanup from September 2017, Articles with multiple maintenance issues, Articles with unsourced statements from May 2011, Wikipedia articles with BIBSYS identifiers, Wikipedia articles with SELIBR identifiers, Wikipedia articles with SNAC-ID identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License. `` the holy lamps of Tibet are primed with Astral Oil refinery from foreman to,! 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