Standard Oil Trust signed by C.A. Griscom, J.D. Rockefeller and John D. ArchboldInv# AG1112A Stock
Stock signed by C.A. Griscom on the back and J.D. Rockefeller as president and John D. Archbold on the front.
Clement A. Griscom (1841-1912)
A prominent figure in trans-Atlantic shipping an interested in many industrial corporations, was born in Philadelphia. His father Dr. John Griscom was a prominent physician.
After leaving school, Mr. Griscom obtained a clerkship in the office of Peter Wright & Sons, and in 1863, when but twenty-two years of age, he had won admission to the firm and gradually assumed entire direction of the business.
The firm was appointed agent of the old American Line and subsequently, after direct negotiations with King Leopold, of Belgium, Mr. Griscom organized the International Navigation Company which absorbed the American Line. He was elected vice-president of the new company and became its president January 4, 1888, the fleet then comprising twenty-six ocean steamships. The Inman Line was then purchased and the steamships New York and Paris added to the line. These were the first twin screw steamships used in passenger traffic and were unsinkable. They sailed under American registry by special Act of Congress. Mr. Griscom awarded the contracts to Cramps for the steamships St. Louis and St. Paul and during the Spanish-American War these and several other of the liners were used by the Government and figured in various naval engagements. In 1902, the name of the company was changed to the International Mercantile Marine Company and the White Star, the Atlantic Transport, the Leyland and Old Dominion Lines were acquired. Mr. Griscom was elected to the presidency of the company but resigned in 1904 to become chairman of the Board of Directors.
In 1889 Mr. Griscom was a delegate to the International Marine Congress for revising the “Rules of the Roads at Sea,” at which twenty-eight nations were represented. In recognition of the perfect discipline maintained on the ships of the International Navigation Company, Queen Wilhelmina, of Holland, made Mr. Griscom a Knight of the Order of Orange-Nassau, her attention being directed to the line by the rescue of two hundred men, women and children from the disabled Dutch liner Veendam, by the steamship St. Louis, the Veendam sinking immediately after the last rescue boat had left the wreck. The French Government made him a Chevalier of the Legion of Honor, and the British Institute of Naval Architects made him an honorary member. Mr. Griscom was one of the organizers of the National Transit Co., which was formed to pump oil from the wells to the refinery. He was a director of the Pennsylvania Railroad Co., the Fourth Street National Bank, the United Gas Improvement Co. and the United States Steel Corp.
John Dustin Archbold (1848-1916)
Capitalist. Speculator in Pennsylvania oil fields, 1866. When the South Improvement Co., whose membership included John D. Rockefeller, blocked the advance of Pennsylvania oil producers by obtaining railroad freight rebates, Archbold united the leading men of the Titusville region and defeated this strong Cleveland group. He then joined the Cleveland combination in working out a national organization to control the oil industry. John Dustin Archbold was a key executive in the growth and success of the Standard Oil Company. He became a Director of Standard Oil of Ohio Company in 1875 and by 1897 was functionally in charge of the company. As president (1896-1911) of Standard Oil Company of New Jersey (founded 1882) he was largely instrumental in building up that corporation’s business. From 1882 until his death he was dominant in Standard Oil Company policy, acted as spokesman for the company, and improved the product and it’s distribution. Over 30 years (1893-1914) he contributed funds (nearly $6,000,000) for 8 buildings at Syracuse University, including the full cost of the Archbold stadium (opened 1907, demolished 1972), Sims Hall (men's dormitory, 1907), the Archbold gymnasium (1909, nearly destroyed by fire in 1947 but still in use), and the oval athletic field. A bequest from his estate gave an additional $500,000 to the university. Among his other charities was the New York Kindergarten Association, for which he built its headquarters building, in memory of his deceased daughter, Frances Dana Wolcott, and for which he also provided an endowment fund of $100,000. His grandson, Richard Archbold, founded the Archbold Biological Station in 1941 In 1911, at the dissolution of the original company, he became president of Standard Oil of New Jersey.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.