The Allegheny Transportation Company was a pipeline company that operated in the 1860s and 1870s as a bulk distributor of crude oil. It became the Pennsylvania Transportation Company in 1872 upon merger with Commonwealth Oil & Pipe Company.[1] The company gathered crude oil from the oil fields in Northwest Pennsylvania and transported it via pipelines to railheads. It was the largest such company in the oil regions during this time, and was operated under the administration of Henry Harley. By 1871, it controlled 500 miles of pipelines in Northwest Pennsylvania.[2]
In a contract signed on June 4, 1868, John D. Rockefeller's firm (Rockefeller, Andrews & Flagler) along with Cleveland's other two largest oil refiners - Clark, Payne & Company; and Westlake, Hutchins & Company - were given a 25% of the interest in the Allegheny Transportation Company in return for $1. This stock was worth $62,222.[4]
On July 2, 1868, Jay Gould took control of the Erie Railroad.[5] Gould's gift would help finance Rockefeller, Andrews & Flagler through the next two lean years.[6]
allegheny, transportation, company, pipeline, company, that, operated, 1860s, 1870s, bulk, distributor, crude, became, pennsylvania, transportation, company, 1872, upon, merger, with, commonwealth, pipe, company, company, gathered, crude, from, fields, northwe. The Allegheny Transportation Company was a pipeline company that operated in the 1860s and 1870s as a bulk distributor of crude oil It became the Pennsylvania Transportation Company in 1872 upon merger with Commonwealth Oil amp Pipe Company 1 The company gathered crude oil from the oil fields in Northwest Pennsylvania and transported it via pipelines to railheads It was the largest such company in the oil regions during this time and was operated under the administration of Henry Harley By 1871 it controlled 500 miles of pipelines in Northwest Pennsylvania 2 Contents 1 State charter 2 Jay Gould s involvement 3 See also 4 References 5 BibliographyState charter editA charter from the State of Pennsylvania in 1864 gave the company a unique right to carry oil via pipelines to railroad yards 2 Jay Gould s involvement editIn 1868 Jay Gould bought control of the company for 250 000 in an effort to gain increased rail traffic over the Erie Railroad via the Atlantic and Great Western Railroad The Erie Railroad was competing for traffic with the New York Central Railroad via the Lake Shore and Michigan Southern Railway and with the Pennsylvania Railroad 3 In a contract signed on June 4 1868 John D Rockefeller s firm Rockefeller Andrews amp Flagler along with Cleveland s other two largest oil refiners Clark Payne amp Company and Westlake Hutchins amp Company were given a 25 of the interest in the Allegheny Transportation Company in return for 1 This stock was worth 62 222 4 On July 2 1868 Jay Gould took control of the Erie Railroad 5 Gould s gift would help finance Rockefeller Andrews amp Flagler through the next two lean years 6 See also editOil City PennsylvaniaReferences edit Churella p 367 a b First Great Pipeline Company www petroleumhistory org Retrieved December 4 2018 Hawke p 60 Hawke p 61 Hawke p 59 Hawke p 62 Bibliography editChurella Albert J 2012 The Pennsylvania Railroad Volume 1 Building an Empire 1846 1917 University of Pennsylvania Press ISBN 978 0812243482 Hawke David Freeman 1980 John D The Founding Father of the Rockefellers Harper amp Row ISBN 978 0060118136 nbsp Energy portal nbsp Companies portal Retrieved from https en wikipedia org w index php title Allegheny Transportation Company amp oldid 981800311, wikipedia, wiki, book, books, library,
