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1900 Henry Flagler signs RARE Florida East Coast Railway Letter - Bold signature For Sale


1900 Henry Flagler signs RARE Florida East Coast Railway Letter - Bold signature
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1900 Henry Flagler signs RARE Florida East Coast Railway Letter - Bold signature:
$2950.00

Henry Morrison Flagler(January 2, 1830– May 20, 1913) was an American industrialist and a founder ofStandard Oil. He was also a key figure in the development of the Atlantic coast ofFloridaand founder of what became theFlorida East Coast Railway. He is known as the father ofSt. Augustine,MiamiandPalm Beach, Florida.


Flagler is extremely RARE on letters -- and especially on the Letterhead of the Florida East Coast Railway - he signed a few stock certificates that have been discovered -- however they are VERY RARE - and only a few of his signed letters have been found --- the Flagler Museum in Palm Beach has an excellent collection of his documents - however - of course they will never sell them --------



Flagler was born inHopewell, New York, the son of Isaac Flagler, aPresbyterianminister, and Elizabeth Caldwell Morrison Harkness Flagler. Henry had a step-brother: future tycoonStephen V. Harkness, who had become Elizabeth's stepson when she married David Harkness ofMilan, Ohio; and a half-brother,Daniel M. Harkness, Elizabeth's own son with David.Widowed by David's death, Elizabeth had brought her family back to upstate New York and there married Isaac Flagler.

Flagler received an eighth-grade education beforeDanielconvinced him to leave school at 14 to work at Daniel's uncle's store, Lamon G. Harkness and Company, inRepublic, Ohio, at a salary of US$5 per month plusroom and board. By 1849, Flagler was promoted to the sales staff at a salary of $40 per month. He later joined Daniel in a grain business started with Lamon inBellevue, Ohio. In 1862, Flagler and his brother-in-law Barney York founded the Flagler and York Salt Company, asaltmining and production business inSaginaw, Michigan. He found that salt mining required a fair bit of technical knowledge and struggled in the industry during the war. The company collapsed when theAmerican Civil Warundercut demand for salt, and Flagler returned to Bellevue having lost his initial $50,000 investment and an additional $50,000 he had borrowed from his father-in-law and Daniel. Flagler felt he had learned a valuable lesson: invest in a business only after thorough investigation.

Business and Standard OilHenry Flagler, c. 1882Flaglers Gingerbread house in Bellevue, OHShare of the Standard Oil Company signed by John D. Rockefeller and Henry Flagler

After the failure of his salt business in Saginaw, Flagler returned to Bellevue in 1866 and reentered thegrainbusiness as a commission merchant with The Harkness Grain Company. During this time he worked to pay back Steve Harkness. Through this business, Flagler became acquainted withJohn D. Rockefeller, who worked as a commission agent with Hewitt and Tuttle for the Harkness Grain Company. By the mid-1860s,Clevelandhad become the center of the oil refining industry in America and Rockefeller left the grain business to start his own oil refinery. Rockefeller worked in association with chemist and inventorSamuel Andrews.

Standard Oil Articles of Incorporation signed by John D. Rockefeller, Henry M. Flagler, Samuel Andrews, Stephen V. Harkness and William Rockefeller

Needing capital for his new venture, Rockefeller approached Flagler in 1867. Flagler obtained $100,000 (equivalent of $1.7 million in 2016) from family memberStephen V. Harknesson the condition that Flagler be made a partner. TheRockefeller, Andrews & Flaglerpartnership was formed with Flagler in control of Harkness' interest.The partnership eventually grew into theStandard OilCorporation. It was Flagler's idea to use therebatesystem to strengthen the firm's position against competitors and the transporting enterprises alike. Flagler was in a special position to make those deals due to his connections as a grain merchant. Though the refunds issued amounted to no more than fifteen cents on the dollar, they putStandard Oilin position to undercut other oil refineries.By 1872, it led the American oil refining industry, producing 10,000 barrels per day (1,600m3/d). The Flagler family moved to New York in 1877 since New York was becoming the center of commerce in the US. In 1885,Standard Oilmoved its corporate headquarters to New York City to the iconic26 Broadwaylocation.

By the end of theAmerican Civil War,Clevelandwas one of the five main refining centers in the U.S. (besidesPittsburgh, Pennsylvania,New York City, and the region in northwesternPennsylvaniawhere most of the oil originated).

By 1869, there was three times more kerosene refining capacity than needed to supply the market, and the capacity remained in excess for many years.In June 1870, Flagler and Rockefeller formed Standard Oil of Ohio, which rapidly became the most profitable refiner in Ohio. Standard Oil grew to become one of the largest shippers of oil and kerosene in the country. The railroads were fighting fiercely for traffic and, in an attempt to create acartelto control freight rates, formed theSouth Improvement Companyin collusion with Standard and other oil men outside the main oil centers.The cartel received preferential treatment as a high-volume shipper, which included not just steep rebates of up to 50% for their product but also rebates for the shipment of competing products. Part of this scheme was the announcement of sharply increased freight charges. This touched off a firestorm of protest from independent oil well owners, including boycotts and vandalism, which eventually led to the discovery of Standard Oil's part in the deal. A major New York refiner,Charles Pratt and Company, headed byCharles PrattandHenry H. Rogers, led the opposition to this plan, and railroads soon backed off. Pennsylvania revoked the cartel’s charter, and non-preferential rates were restored for the time being.


In 1912, theFlorida Overseas Railroadwas completed to Key West. 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. When asked by the president ofRollins CollegeinWinter Parkabout his philanthropic efforts, Flagler reportedly replied, "I believe this state is the easiest place for many men to gain a living. I do not believe any one else would develop it if I do not... but I do hope to live long enough to prove I am a good business man by getting a dividend on my investment."

Death and heritageStatue of Henry Flagler that stands in front of Flagler College (Flagler's formerPonce de León Hotel) inSaint Augustine, Florida.




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