Henry Morrison Flagler (January 2, 1830 – May 20, 1913) was an American industrialist and a founder of
Standard Oil, first based in Ohio. He was also a key figure in the development of the Atlantic coast of
Florida and founder of what became the
Florida East Coast Railway. He is known as the father of
Miami and
Palm Beach, Florida. In June 1870, Flagler and Rockefeller formed Standard Oil of Ohio, which rapidly became the most profitable refiner in Ohio. 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. Standard Oil's combined assets equalled approximately $42,882,650.00 (U.S) in Indiana, Kentucky, New Jersey, New York and Ohio. Standard Oil also had the highest capitalization, totaling $26,000,000 (U.S). 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. (
Source)