Flagler then built a second, less-opulent hotel across the street. John Dustin Archbold, known for being more aggressive, was hired by the Rockefellers. In 1901, U.S. Steel, now controlled by J. Pierpont Morgan, having bought Andrew Carnegie's steel assets, offered to buy Standard's iron interests as well. Only his son Harry survived of the three children by his first marriage in 1853 to Mary Harkness. Henry Flagler was the founder of Standard Oil. After completing the divorce proceedings, Flagler married Mary Lily Kenan, a socially prominent North Carolinian, who was 37 years his junior. The monopoly Flagler helped create at Standard was broken up by the Supreme Court in 1911. [44] Standard Oil monopolized quickly and took America by storm. It supplied kerosene by tank cars that brought the fuel to local markets, and tank wagons then delivered to retail customers, thus bypassing the existing network of wholesale jobbers. Harkness and Company, at a salary of $5 per month plus room and board. He discovered that the state's poor transportation was deterring development. They asked the Lake Shore and Michigan Central Railroad for a rate reduction to ship crude oil to their Cleveland refineries. Smith would not sell, but he planted the seed of St. Augustine's and Florida's future in Flagler's mind. But she suffered from mental illness and, in 1897, was committed to an asylum, where she remained for the rest of her life. As the company grew, the owners decided to organize it as a stock corporation, a relatively new business structure. [citation needed], Needing capital for his new venture, Rockefeller approached Flagler in 1867. Henry Morrison Flagler was born January 2, 1830 in Hopewell, New York, to Isaac and Elizabeth Flagler. He often slipped away from the affairs through secret doorways installed in the house. Refer to each style’s convention regarding the best way to format page numbers and retrieval dates. He returned to St. Augustine in 1885 and made Smith an offer. The company collapsed when the war undercut commercial demand for salt. Flagler spent the rest of his life developing land in Florida. [6], After the failure of his salt business in Saginaw, Flagler returned to Bellevue in 1866 and reentered the grain business as a commission merchant with the Harkness Grain Company. In that spirit, he built the ornate Ponce de Leon Hotel on land that was once an orange grove. See more ideas about flagler, florida, old florida. Henry Morrison Flagler is a well known Business. As in most things, the truth lies somewhere in between the opposite ends of the discussion. Then, copy and paste the text into your bibliography or works cited list. Over the years, he continued to convert old tracks and build new ones, extending service south. Most Popular ★ Boost . Encyclopedia of World Biography. Henry Flagler (1830-1913) was a self-made millionaire and industrialist who co-founded the Standard Oil Company. For many of the competitors, Flagler and Rockefeller had merely to show them the books so they could see what they were up against and make them a decent offer. Our Distinguished Past Located in St. Augustine, America's oldest city, Flagler College is a landmark for history, industry, and business. He used convict leasing — "a method undertaken by the Southern States to replace the economic setup of slavery"[51] — to modernize the existing railroads, allowing them to accommodate heavier loads and more traffic.[52]. It was Flagler's idea to use the rebate system to strengthen the firm's position against competitors and the transporting enterprises alike. [citation needed], Flagler and Rockefeller began a publicity campaign to put the company and themselves in a better light. The railroad was financially unable to rebuild the destroyed sections, so the roadbed and remaining bridges were sold to the State of Florida, which built the Overseas Highway to Key West, using much of the remaining railway infrastructure. Convicts extended his Florida East Coast Railway (FECR) from West Palm Beach to Miami, cleared the land for his Royal Palm Hotel in Miami and graded the rail lines running from the mainland to his FECR extension across the Keys... Flagler and Florida were not aberrations. © 2019 Encyclopedia.com | All rights reserved. By 1896, Flagler's railroad, the Florida East Coast Railway, reached Biscayne Bay. . Over thirty years, Flagler had invested about $50 million in railroad, home and hotel construction and had made donations to suffering farmers after the freeze in 1894. 1853 Flagler marries Mary Harkness; their children are Jennie Louise (1855-1889), Carrie (1858-1861), and Henry (Harry) Harkness (1870-1952).. 1862 In Saginaw, Michigan, Flagler founds the Flagler and York Salt Company; it closes in 1865 after the demand for salt declines.. 1870 John D. Rockefeller and Henry M. Flagler form a partnership that would become Standard Oil.. 1878 Henry and Mary … HAMMER, Armand Henry Morrison Flagler (January 2, 1830 – May 20, 1913) was an American industrialist and a founder of Standard Oil, first based in Ohio. Compete against other refineries popular pen name of the discussion, whips, henry flagler fun facts boxes, up! Was demonstrated when he returned home from work together, discussing business along the way you they. 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