FLAGLER, HENRY M.

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FLAGLER, HENRY M. - Standard Oil Stock Certificate Signed by Flagler and Issued to  Florida East Coast Railway President W.H. Beardsley
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FLAGLER, HENRY M. - Standard Oil Stock Certificate Signed by Flagler and Issued to  Florida East Coast Railway President W.H. Beardsley

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FLAGLER, HENRY M. (1830-1913). American financier who, after making his fortune in oil, developed large swaths of Florida land. Signed Standard Oil Trust stock certificate A10091, illustrated with an image of the United States capital. (“H.M. Flagler”). 1p. Oblong 4to. New York, September 29, 1897. Additionally signed by WESLEY H. TILFORD (1850-1909) who served as treasurer and vice president of Standard Oil, and signs as Attorney-in-fact. The 25 shares were issued to Florida East Coast Railway President and future Flagler estate trustee W.H. BEARDSLEY, who has signed on the verso (“W.H. Beardsley”).

 

After failing in the salt businesses, Flagler became a successful grain broker in Cleveland where he befriended a business associate of John D. Rockefeller. Flagler funded Rockefeller’s entry into the oil business and their partnership grew into the industry giant Standard Oil, which by 1872, was the leading oil refining firm in the world, bringing staggering wealth to them both. Recognizing the enormous financial potential of developing Florida, Flagler, though he remained on Standard Oil’s board of directors, left his position to realize his dream of creating a winter Newport in Florida – a destination where his social circle could luxuriate in the warm weather. He built the grand Hotel Ponce de Leon in St. Augustine and purchased several railway lines that ultimately were merged into the Florida East Coast Railway of which Beardsley was treasurer, vice-president and, eventually, president. In 1894, Flagler extended the rail line to West Palm Beach where he constructed the Royal Poinciana Hotel followed by the Palm Beach Inn, later renamed The Breakers. Flagler continued to use his vast oil fortune to construct hotels in Miami, Daytona and Ormond.

 

By 1890, Standard Oil controlled almost 90 percent of refined oil in the United States, which prompted Congress to pass the Sherman Antitrust Act prohibiting monopolistic business practices. In 1892, Standard Oil Trust was ordered to liquidate, which it did over a 5-year period before being reborn as a holding company,Standard Oil Co. of New Jersey.

 

Folded and in very good condition.

 

 

Item #20362

Verso


This autograph will be auctioned live on May 23, 2018. For more information and to place your bid click the "BID NOW!" button above.
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