By 1892, Standard Oil had a monopoly over all oil refineries in the United States. In an overall calculation of America's oil refineries' assets and capital, Standard Oil surpassed all.[35] Standard Oil's combined assets equalled approximately $42,882,650.00 (U.S) from: Indiana, Kentucky, New Jersey, New York and Ohio. As well as the highest capitalization, totaling $26,000,000 (U.S).[35] The history of American oil refining begins with Henry Morrison Flagler, and his business associate and friend, John D. Rockefeller, as they built the biggest, most prosperous and monopolizing oil empire of their time: Standard Oil.
Standard Oil had the same principal owners that Rockefeller, Andrews and Flagler had, give or take a few business associates: one of whom was Rockefeller's brother, William.[36] Standard Oil monopolized quickly and took America by storm.[37] Although Standard Oil was a partnership, Flagler was credited as the brain behind the booming oil refining business. According to Edwin Lefevre, in "Flagler and Florida" from Everybody's Magazine, XXII (February, 1910) p. 183, "When John D. Rockefeller was asked if the Standard Oilcompany was the result of his thinking, he answered, "No, sir. I wish I had the brains to think of it. It was Henry M. Flagler."[38] Flagler served as an active part of Standard Oil until 1882. John Dustin Archbold, known for being more aggressive, was hired by the Rockefellers. Flagler stepped back to take a secondary role at Standard Oil, but served as a vice president through 1908 and was part of ownership until 1911.[39]
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