Business: The Standard Oil

Mr. Herbert L. Pratt has been chosen to be the head of the Standard Oil Company of New York, to replace Mr. Henry C. Folger, who resigned shortly after the Board of Directors failed to secure the stockholders' consent to an increase of capitalization from $225,000.000 to $300,000,000. This shift in the oil line-up has drawn public attention to the personalities, policy, present condition and past history of this oldest of American trusts.

Herbert L. Pratt was born in Brooklyn in 1871, and took a degree of...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!