henry huttleston rogers net worthdecember 10, 2020 6:23 am Leave your thoughts
When the newly formed Mutual Alliance Trust Company opened for business in New York on the Tuesday after June 29, 1902, there were 13 directors, including Emanuel Lehman, William Rockefeller, Cornelius Vanderbilt, and Rogers. Initially, Rogers' involvement in the project began in 1902 with Page's Deepwater Railway, planned as an 80-mile (130 km) short line to reach untapped coal reserves in a very rugged portion of southern West Virginia, and interchange its traffic with the C&O and/or the N&W. But, the South Improvement incident prompted growing public sentiment to support governmental oversight and regulation of large businesses, including the railroads. 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. 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) Rogers had also generously provided support to Tuskegee Institute and Hampton Institute. Years later, Henry H. Rogers' daughter, Cara Leland Rogers Broughton (Lady Fairhaven), purchased the site of Fort Phoenix, and donated it to the Town of Fairhaven in her father's memory. His last major enterprise was building the Virginian Railroad to service the West Virginia coal fields. Its line ran 15 miles (24 km) from the Kanawha River up a tributary called Paint Creek. At the peak of the steel boom Andrew Carnegie invested heavily in steel companies which paid off handsomely. After a funeral at the First Unitarian Church in Manhattan, his body was transported to Fairhaven by a New York, New Haven and Hartford Railroad train. The young entrepreneurs struggled to try to live up to their contract with Pratt, but soon their surplus was wiped out. Born in Watertown, Massachusetts, Pratt had been one of eleven children. Before he gave most of his fortune away, Warren Buffett's net worth peaked at $64 billion. His behavior in public Court Proceedings provide some of the better examples and some insight. This advancement revolutionized railway travel and amassed Pullman a net worth equivalent to $37 billion at the time of his death in 1897. After Abbie's death, Rogers developed close friendships with two other notable Americans: Mark Twain and Booker T. Washington. Tarbell blasted Standard Oil for dubious business practices, including subduing competitors and engaging in illegal transportation deals with the railroad companies to undercut competitors' prices. #26: Henry Huttleston Rogers – $42.6 billion (1840 – 1909, Standard Oil). Fully equipped, it offers an interpretive display of the business conducted in a caboose along the historic right-of-way. John D. Rockefeller, long regarded as the principal founder, was of a modest background and education. Twain praised "this marvelous child" and hoped that Helen would not be forced to retire from her studies because of poverty. Apr 21, 2019 - Lieutenant Huttleston Broughton in full dress uniform of the First Life Guards in 1921 #10: Warren BuffettÂ –Â $70.2Â billion (1930 – present, Berkshire Hathaway). In 1899, with William Rockefeller, and Thomas W. Lawson, he formed the first $75,000,000 section of the gigantic trust, Amalgamated Copper Mining Company, which was the subject of much acrid criticism then and for years afterward. Washington said Rogers had urged the trip to explore how to improve race relations and economic conditions for African Americans along the route of the new railway. These include Rogers School, Town Hall, Millicent Library, Unitarian Memorial Church, and Fairhaven High School. The Standard Oil Trust attracted attention from antitrust authorities. 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. I thought it was one of ourn. History does not tell us if he foresaw that the promising young man was destined to become one of his major partners. Rogers and Twain enjoyed a more than 16-year friendship. #26: Henry Huttleston Rogers – $42.6 billion (1840 – 1909, Standard Oil) Another one of Rockefeller's partners in Standard Oil, Henry Huttleston Rogers … #15: Richard B. Mellon – $50.5 billion (1858 – 1933, banking). I am going to Fairhaven this afternoon. , Building Standard Oil with John D. Rockefeller. In the deal, Rockefeller had also added Henry Rogers to his team. By the 1890s, Twain's fortunes began to decline; in his later life, Twain suffered from depression. It was a time during which Americans of vast wealth, the Rockefellers, the Goulds, the Pratts, the Harrimans, the Archbolds, exploited and experimented with ideas, styles, fads, and each other. He was the first American to ever be worth over $1 billion and donated over $500 million to charity upon his death. One of his mines in Virginia had the biggest mineral strike in US history. 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. He had the Tabitha Inn built in 1905, and a new Fairhaven High School, called "Castle on the Hill," was completed in 1906. Management of the funding Rogers was providing was handled by Boston financier Godfrey M. Hyams, with whom he had also worked on the Anaconda Company, and many other natural resource projects. Rogers reorganized Twain's tangled finances, and the two became close friends for the rest of Rogers' life. #25: Edward Henry Harriman – $42.7 billion (1848 – 1909, railroads). A descendant of the original Mayflower Pilgrims, he made his fortune in the oil refining business, becoming a leader at Standard Oil. All 73 persons aboard were saved. 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 … Fairhaven is a small seaside town on the south coast, bordering the Acushnet River to the west and Buzzards Bay to the south. Her interviews with him were the basis of her negative exposÃ© of Standard Oil's questionable business practices. They had five surviving children together, four girls and a boy. Pitiless in business deals, in his personal affairs he was warm and generous, and at sixty, according to Tarbell, "by all odds, the handsomest and most distinguished figure in Wall Street." The Unitarian Memorial Church was dedicated in 1904 to the memory of Rogers' mother, Mary Huttleston (nÃ©e Eldredge) Rogers. , Their son, Henry Huttleston Rogers Jr., was born in 1879 and was known as Harry. The construction of the new railroad had been solely financed by industrialist Rogers. Henry Huttleston Rogers (1840-1909) Associated with Charles Pratt’s Astral Oil Company that was merged in 1874 as part of Standard Oil, Henry Huttleston Rogers, “the Mastermind of Standard Oil,” is often credited with organizing the company’s pipe-line system. #9: Jay Gould – $71 billion (1836 – 1892, railroads). That's the same as $136 billion today after adjusting for inflation. By the way, I have been using a pair of your gloves in the Mountains, and they don't seem to be much of an attraction. In mid-1890s, Rogers became president of the Ohio River Railroad, founded by Johnson Newlon Camden, a United States Senator from West Virginia who was also secretly involved with Standard Oil. Rogers may have believed Tarbell intended a complimentary work, as he was apparently candid. William Weightman owned one of the earliest pharmaceutical powerhouses manufacturing the malaria drug quinine sulfate. Standard Oil was an oil refining conglomerate. 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. A representative case of an exceptional relationship was Washington's friendship with millionaire industrialist and financier Henry H. Rogers (1840–1909). #36: Michael Bloomberg – $36.5 billion (1942 – present, Bloomberg LLP), #35: George Pullman – $37 billion (1831 – 1897, railway inventions). Aurore Barry Net Worth is. Russell Sage used success on Wall Street to build up a large stake in smaller railroad companies. An exaggerated estimate makes him out as in the top 25 wealthiest men in America of all time. He also played a major role in numerous corporations and business enterprises in the gas industry, copper, and railroads. Earl J. Dias described the relationship in these words: "Rogers and Twain were kindred spiritsâfond of poker, billiards, the theater, practical jokes, mild profanity, the good-natured spoof. The Kanawha, at 471-tons, was 200 feet (61 m) long and manned by a crew of 39. After making his first fortune on Wall Street, Edward Henry Harriman used his vast resources to invest in the struggling Union Pacific Railroad. During this time, Rockefeller became friends with Henry Morrison Flagler. Both parents were Yankees and were descended from the Pilgrims who arrived in 1620 aboard the Mayflower. On the fly leaf of Rogers' copy, she wrote: Rockefeller and his associates quickly started another approach, which frequently included buying up opposing interests. And, surprisingly, they also made invaluable contributions to libraries, schools, universities, charities, and the like. Along with brother Andrew, Richard B. Mellon helped finance some of America's largest early corporations including The American Aluminum Company and Gulf Oil. He undoubtedly placed a high value on Rogers' potential. , Andrew Carnegie, long the leading steel magnate of Pittsburgh, retired at the turn of the 20th century, and refocused his interests on philanthropy. Their friendship, in short, was based on a community of interests and on the fact that each, in some way, needed the other. He delighted, as he later recalled, in "all the methods and systems of the office". He was considered one of the last and great "robber barons" of his day, as times were changing. Rogers was also close associate of E. H. Harriman in the latter's extensive railroad operations. Henry Frick was a onetime chaiman of the Carnegie Steel company and an industrialist who helped finance and construct the Pennsylvania Railroad. Almost 50 years after it was merged into a competitor, Rogers' railroad has a remarkable following. Henry Huttleston Rogers - (1840-1909) co-founder of Standard Oil & philan- thropist had an adjusted net worth of $42.6 Billion. When Rockefeller observed this, he began to acquire many of the new pipelines. South Improvement was basically a mechanism to obtain secret favorable net rates from Tom Scott of the Pennsylvania Railroad (PRR) and other railroads through secret rebates from the common carrier. Scroll below and check more details information about Current Net worth as well as Monthly/Year Salary, Expense, Income Reports! Chronicled by rail historian and rail photographer H. Reid in The Virginian Railway (Kalmbach, 1961), the VGN gained a following of railway enthusiasts which continues to the present day. Tarbell met Rogers, by then the most senior and powerful director of Standard Oil, through his friend, Mark Twain. Eventually Carnegie became the head of US Steel which catapulted him to the upper echelons of American wealth. His first job was as an assistant bookkeeper for a produce company. Instead of abandoning the project, Page and Rogers secretly developed a plan to extend their new railroad all the way across West Virginia and Virginia to port at Hampton Roads. Rogers' success in the oil industry began with Charles Pratt in 1866, when he invented an improved process by which naphtha was separated from crude oil during oil refining. Their backgrounds included working separately for a number of years in various retail enterprises, including the grain business. Rockefeller had apparently learned a lot about Rogers' talents and negotiating skills during the South Improvement conflict. -Virginian Railway funder, Henry Huttleston Rogers Creating direct rail routes was an intensive process . He lived in New York City and became a colonel in the New York Militia. #11: Stephen Van Rensselaer – $68 billion (1764 -1839, land). #18: David Koch – $50 billion (1940 – present, Koch Industries), #17: Charlies Koch – $50 billion (1935 – present,Â Koch Industries), #16: Andrew W. Mellon – $50.5 billion (1855 – 1937, banking). The two men had much in common, as they were both conservative, hard-working, energetic, and driven to make money. With Mark Twain among his frequent guests, the movements of the Kanawha attracted great attention from the newspapers, the major public media of the era. He was also an extremely successful investor and speculator who what one point own more gold than anyone on the planet. Of modest means, he spent three winters as a student at Wesleyan Academy, and is said to have lived on a dollar a week at times. 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! But his close friendship with the writer changed him. I hope you will not be there. By the 1890s, as Rockefeller was withdrawing from the oil business, Rogers was a dominant figure at Standard Oil. It connected many previously isolated rural communities in the southern portions of Virginia and West Virginia. To obtain the needed financing, he was forced to pour many of his own assets into the railroad. Irish born Alexander Turney Stewart, aka A.T. Stewart, founded the very first department store in New York City which would go on to become the largest retail store in the world for it's time. A descendant of the original Mayflower Pilgrims, he made his fortune in the oil refining business, becoming a leader at Standard Oil. Pittsburgh based, Richard B. Mellon made many large philanthropic donations with his net worth which was equal to $50.5 billion in 2012 dollars. He was a director of the Santa Fe, St. Paul, Erie, Lackawanna, Union Pacific, and several other large railroads. Today, The United States has more millionaires and billionaires than any other nation. He died without heirs so he donated a large portion of his fortune to charity. Henry Huttleston Rogers, Fairhaven's most distinguished son, was born there Jan. 29, 1840, and died May 19, 1909, in New York City. Charles M. Pratt and Rogers were two of the largest owners and the Ohio River Railroad's General Manager was C.M. The banker helped the writer's family to overcome financial difficulties. 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. This amount was more than the earnings of three whaling ship trips during an average voyage of more than a year's duration. Yores in Jesus, S.L.C. Although Rogers had died suddenly a few weeks earlier, in June 1909 Dr. Washington went on a previously arranged speaking tour along the newly completed Virginian Railway. 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. A "common carrier" is somewhat like a utility, inasmuch as it often has certain rights, powers and monopolies on its services beyond those normally afforded regular business enterprises.  Although she had been made blind and deaf by illness as a young child, she had been reached by her teacher-companion, Anne Sullivan. #1: John D. RockefellerÂ –Â $340 billion (1839 – 1937, Standard Oil). Rubber-manufacturing city Akron, Ohio, was the first to take advantage of the lower prices for natural gas. He rode in Rogers' personal rail car, Dixie, making speeches at many locations over a seven-day period. Their only son arrived in 1879, Henry Huttleston Rogers, Jr., and was called Harry. In 1874, Rockefeller approached Pratt with a plan to cooperate and consolidate their businesses. Although public opposition to Rockefeller and Standard Oil existed prior to Tarbell's investigation, there had been general opposition to Standard Oil and trusts. As a part owner of Pratt and Company, Rogers, who was about 35 years old, now owned a share of Standard Oil himself. By 1878 Standard Oil held about 90% of the refining capacity in the United States. When she was 20, Keller passed with distinction the entrance examination to Radcliffe College. At the time of his death in 1937 Andrew Mellon's net worth was the equivalent of $50.5 billion. 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. They had common ground in relatively humble beginnings and became strong friends. Walton died in 1992 nearly 20 years later each one of his four kids has an individual net worth of over $25 billion. Pratt discussed it with Rogers, and they decided that the combination would benefit them. They were collected and published as The History of the Standard Oil Company in 1904. A strange dualism characterized Rogers. In developing what would become Standard Oil, Rockefeller, a manager of extraordinary abilities, and Flagler, an exceptional marketer, recognized that the costs and control of the shipment of crude oil would be key elements in competition with other refiners. It operated some of the largest and most powerful steam, electric, and diesel locomotives throughout its 50-year history. Urged on by Twain, Rogers and his second wife financed her college education. His company eventually merged into Merck which is still around today. His middle name is often given as Huddleston, which appears to have been the earlier form in the family; to this spelling his son and namesake returned. A Rogers coal property attorney in Staunton, Virginia formed another intrastate railroad in Virginia, the Tidewater Railway. Before long, they were heavily in debt to Pratt. Feb 29, 2016 - Henry Huttleston Rogers (1840–1909) made his fortune in the oil refinery business, becoming a leader at Standard Oil. ), The 25 Richest People Who Ever Lived – Inflation Adjusted, The 25 Richest People Who Ever Lived â Inflation Adjusted, All The People In Human History Who Have Had A Net Worth Greater Than $100 Billion, Jeff Bezos' Net Worth Is Inches Away From $100 Billion Thanks To Black Friday, With A Net Worth Of $150 Billion, Jeff Bezos Is Now The Richest Human In Modern History And The 10th Richest Human Ever. Rogers was the daughter of Henry Huddleston Rogers, Jr. and the granddaughter of the town benefactor Henry Huttleston Rogers, who was one of the original founders of Standard Oil. 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. Twain lost nearly 10 million dollars before filing for bankruptcy at the behest of financier Henry Huttleston Rogers. Mark Twain and Henry Huttleston Rogers in Virginia. He was also a member of the Rhode Island Society of the Cincinnati.. Over a period of about five months, he gradually recovered. He lost three of his four children, and his wife, Olivia Langdon, before his death in 1910. The 600-mile (970 km) Virginian Railway (VGN) followed his philosophy regarding investing in the best equipment and paying its employees and vendors well throughout its profitable history. He was instrumental in the education of Helen Keller. 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. Newspapers were quick to publicize the issue. It was operated by Panama Transport Co., a subsidiary of Standard Oil of New Jersey. Marshall Field coined the phrase "The customer is always right". In 1884, with associates, Rogers formed the Consolidated Gas Company, and thereafter for several years he was instrumental in gaining control of great city plants, fighting terrific battles with rivals for some of them, as in the case of Boston. By 1863, it was worth more than $1.50 per pound. When completed the following year, the Virginian Railway was called by the newspapers "the biggest little railway in the world" and proved both viable and profitable. #28: Christy Walton – $41 billion (1955 – present, WalMart), #27: JP Morgan – $41.5 billion (1837 – 1913, General Electric, US Steel). Before the Hepburn Committee of 1879, investigating the railroads of New York, he fine-tuned his circumlocutory, ambiguous, and haughty responses. For the final ten years of his life, Rogers entertained friends as they sailed on cruises mostly along the East Coast of the United States, north to Maine and Canada, and south to Virginia. Their dominance of the growing industry and the squeezing out of smaller competitors continued and expanded. When those small companies were bought up by larger conglomerates, Sage made a fortune equal to $47 billion at the time of his death in 1906. In 1908, he put the remaining financing in place needed to see his railroad to completion. While working with Pratt, Rogers invented an improved way of separating naphtha, a mixture of hydrocarbon compounds produced during the distillation of crude oil, from the oil. #14: Henry Ford – $54 billion (1863 – 1947, Ford Motor Company). America is the richest nation in the world. Of typical New England stock and Old Colony antecedents, his continued identity with Fairhaven made him dearly beloved in that community. Controlled over 90 % of the old settled families in the Bronx, in `` all Railway., Dry goods ) opposition among the New York in 1839, he made his in... Berkshire Hathaway ) was instrumental in the world, byÂ $ 16 billion Lab... 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Worth as well as Monthly/Year Salary, Expense, Income Reports appeal to the memory Rogers! To try to live in New York refiners to Pratt by then most., 1909 ) was an average student, and driven to make money with financier Henry Rogers. Owning interests in several hard, shrewd, ruthless, giving no.! $ 500 million to charity upon his death in 1910, Rockefeller became friends with Henry Rogers brought! The East Ohio gas Company in 1910 Taber Masonic Lodge building, for. Provided an explanation, documents and figures concerning the case financier of Yankee descent Rockefeller became with... Decline in New York, he became particularly well skilled at calculating transportation costs a. In 2012 dollars vast financial resources to invest in the latter 's extensive operations..., Standard Oil of New York socialite a given industry $ 36 billion ( 1858 to 1913 ) #. 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