The largest consolidation in the history of the petroleum industry occurred when Edward L. Doheny, pioneer Mexican oil producer, sold control of the Pan American Petroleum and Transport Co. to a syndicate composed of the Standard Oil Co. of Indiana, the bankers Blair & Co., the Chase Securities Corporation and certain British interests represented by Lord Iverforth. Just what Mr. Doheny received for his 501,000 shares (out of a total of 1,001,556 voting shares) is not known, but, based on recent market prices, the con- sideration...
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