Success Story
Impressive
Profits
The pipeline in 1917 delivered seven million
barrels of crude oil from the fields, a figure
that increased to 12,500,000 barrels by 1920.
The seven Sinclair refineries in 1918 poured
forth a lush stream of 315,000 gallons of
gasoline every 24 hours, the principal product
made at the time. These had to be sold, and an
organization had to be built from scratch,
together with all the necessary facilities such
as real estate, offices, plants and rolling
stock. The two new refineries, utilizing modern
techniques, added many products to the line:
waxes, light and heavy fuel oils, exotic
distillates, lubricants, paints. Markets had to
be found for all of them.
In
its first fourteen months Sinclair Oil &
Refining Corporation earned $9.2 million and
increased its assets by 40 percent to $70
million. By the end of 1918, the stated value of
the corporation exceeded $110 million.
Even this was not
enough for ambitious Harry F. Sinclair. He had
already begun an expansion along the Gulf Coast
which, in another year, would double the size of
the organization, change its name and launch it
as an international enterprise.
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