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118-409: The refinery was built by Texaco in 1957. Its initial capacity of 45,000 barrels a day (bbl./d.) came online in 1958. Before 1998 Shell Oil operated the neighboring Shell Anacortes Refinery (discussed below) . Shell and Texaco combined their refining and marketing operations, assets valued at $ 17 billion, in 1997. The joint business was known as Equilon. Antitrust litigation accepted the deal under

236-539: A 1983 video for their song, Cruel Summer , members of girl group Bananarama are depicted as working as mechanics at a Texaco gas station. From 1965 to 1993, Texaco participated in a consortium to develop the Lago Agrio oil field in Ecuador. The company was accused of extensive environmental damage from these operations, and faces legal claims from both private plaintiffs and from the government of Ecuador. The case

354-529: A 20-plus-year relationship with the sport to a close. Texaco was also involved in open wheel racing , sponsoring the Texaco Grand Prix of Houston along with sponsoring drivers like Indianapolis 500 winner Mario Andretti and his son Michael . In Formula One , Texaco sponsored the Team Lotus in 1972 and 1973, and McLaren from 1974 to 1978. The company returned to Grand Prix racing at

472-475: A US$ 10.53-billion verdict against Texaco, the largest civil verdict in US history up to that date. The court case sprang from Texaco having established a signed contract to buy Getty Oil after Pennzoil entered into an unsigned—yet binding—buyout contract with Gordon Getty . In 1987, Texaco filed for bankruptcy. It was the largest in U.S. history until 2001. In January 1989, Texaco and Saudi Aramco agreed to form

590-470: A brokerage office in the hotel's main lobby for his son, Charlie, and an experienced stockbroker. He speculated on Wall Street from there. In early 1907, when Gates realized that the market would be headed for a sharp downturn, he closed the offices of Charles G. Gates and Company, announcing he was done with Wall Street for good. Gates also changed his New York residence in May of the same year. He had purchased

708-526: A celebration. After Mary Gates died while on a visit to her son and his family in December 1908, Gates built Mary Gates Hospital to honor her memory. He was also a large contributor to Port Arthur Business College , and built a model farm to give the city a source of fresh dairy products. After Port Arthur's Hotel Sabine burned to the ground in 1904, Gates decided that the city needed a good hotel to replace it. In 1909, he proposed to build another, called

826-501: A committee to examine the dealings of Morgan's company. Congressman Augustus Owsley Stanley of Kentucky, was named chairman of the committee; in his long list of persons to subpoena for their testimony the first was John Gates. Gates appeared to give his testimony on May 28, 1911; he was seriously ill and this was evident by how thin and pale he had become. He planned a trip to Paris to consult with doctors there after his testimony. Gates spoke of all of his dealings with J. P. Morgan, from

944-464: A company car. During the war, Texaco ranked 93rd among United States corporations in the value of military production contracts. In 1947, Caltex expanded to include Texaco's European marketing operations. That same year, Texaco merged its British operation with Trinidad Leaseholds under the name Regent; it gained full control of Regent in 1956, but the Regent brand remained in use until 1968–9. In 1954,

1062-477: A farmer's daughter, Dellora Baker. Gates proposed to her at one of the house parties. Dellora was willing to accept Gates' proposal, but wondered how he would be able to provide for a wife, as his only income came from winning at the railroad poker games. When his father discovered Gates in a poker game with some railroad men in the family's barn, Asel told his son he was no good and would never be any good. Only Mary's mediation stopped her son from leaving home. With

1180-510: A habit of banging on the elevator doors and shouting for service. Boldt instructed his elevator operators to take their time when serving his floor, as it allowed Gates to make as much noise as he wished for a few minutes. Gates' suite was often home to high-stakes poker parties and Baccarat games. Many poker games began on the train from Chicago to New York and were continued at the Waldorf. One poker game lasted for five days and nights; when it

1298-426: A joint venture known as Star Enterprise in which Saudi Aramco would own a 50% share of Texaco's refining and marketing operations in the eastern U.S. and Gulf Coast. In 1989, Texaco introduced System3 gasolines in all three grades of fuel, featuring the latest detergent additive technology to improve performance by reducing deposits that clog fuel injection systems. The Toronto-based Texaco Canada Incorporated subsidiary

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1416-463: A joint venture with Standard Oil Company of California – Socal (now Chevron ) – under the brand name Caltex , in exchange for Socal placing its Bahrain refinery and Arabian oilfields into the venture. The next year, Texaco commissioned industrial designer Walter Dorwin Teague to develop a modern service station design. In 1938, Texaco introduced Sky Chief gasoline, a premium fuel developed from

1534-613: A local hardware store. Gates became interested in barbed wire and became a salesman for the Washburn-Moen Company. When he was assigned to the Texas sales territory, he learned that ranchers were adamant about not buying his product. Gates staged a demonstration of the wire in San Antonio 's Military Plaza with charging cattle failing to break the barbed wire fences he had set up. He then proved very successful in selling

1652-561: A member of either society. When he and Dellora traveled to England, the couple wanted to stay at Claridge's , as they had done in 1900. Claridge's refused to accept their registration as Gates was now on the hotel's list of undesirables. Pattillo Higgins had begun a well on Spindletop in 1900, but ran out of money to continue drilling for oil. Higgins went to Gates for funds to continue; Gates obliged. The Texas Fuel Company, founded by Joseph S. Cullinan, had little experience in drilling wells and producing crude oil. As such, they founded

1770-427: A minor savings on the cost to produce a barrel of crude oil (approximately $ 3/barrel). Texaco allegedly dumped toxic wastewater directly into rivers, dumped waste into unlined pits, and created pits that were fitted with overflow pipes to nearby waterways, with pits also never being emptied after the drilling operations were concluded. In total, it is estimated that over 18 billion gallons of toxic waste were released into

1888-501: A new business. Gates' father-in-law, Ed Baker, had already offered to help his daughter and son in law in this way. Asel purchased a two-story brick building and Ed Baker provided the capital for stock to open a hardware store in Turner Junction. At first the business went well; Gates and Dellora were able to move into their own home. Gates began taking time away from the hardware store and while his partner tried to handle all

2006-435: A rainy afternoon in the Waldorf's Oak Room as Gates and two associates watched raindrops trickle down the windows. Gates remarked that the drops did not move down the window at the same speed. One of Gates' associates spotted two raindrops that were moving at the same rate and pointed them out to him. Gates selected a raindrop and bet his associate that it would reach the bottom of the window first. His associate took him up on

2124-467: A salesman for the Washburn-Moen barbed wire company. After being assigned to work in Texas, Gates quickly learned that while he found friends and poker playing companions, when it came to selling barbed wire, ranchers were not buying. After watching a medicine show proprietor stage an elaborate presentation for his wires and noting that people fought to buy the products sold, Gates decided to have

2242-488: A series of mergers and acquisitions the company went through various name changes, finally settling on American Steel and Wire Company. Gates and his family moved to Chicago, where they lived for a period of ten years. Chicago attorney Elbert Henry Gary had helped Gates form the syndicate which led to the defeat of Washburn-Moen. Gary was called on again in 1901 to negotiate a merger with J. P. Morgan 's U. S. Steel . Though he had provided Gates with some loans and advice in

2360-514: A serious business competitor and the company was only worried about the Sherman Antitrust Act . All of this had taken place before Gates was able to return to New York; when he was briefed on the situation, he was told that all other members of the coalition had agreed to Morgan's terms. While Gates realized he had no choice but to submit his shares of stock, he insisted that all stockholders were to be treated equally with regard to

2478-470: A similar production to demonstrate the merits of barbed wire. In San Antonio's Military Plaza , Gates provoked cattle into charging into a barbed wire fence which did not break. Gates went from not being able to sell his product to not being able to fill orders quickly enough after the demonstration. Upon Ellwood's refusal to grant him a partnership in the company. Gates traveled to St. Louis, Missouri , where in partnership with Alfred Clifford, he started

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2596-573: A smaller scale in 1997, with their brands appearing on the Stewart SF01 car. Their association with the team and its successor, Jaguar Racing , continued until the end of 2001, in the same timeline they also sponsored ITV's Formula 1 Coverage. Texaco sponsored the Tom Walkinshaw Racing Rover Vitesse factory team at the 1985 and 1986 European Touring Car Championship (ETCC) under their Bastos brand, and

2714-463: A stable of performing horses with the idea of creating a circus for himself and Port Arthur, when in early 1911, he found a growth in his throat. The growth was malignant and there were times Gates was hardly able to speak. The US Congress was beset with requests to deal with the U. S. Steel Trust as they had done with the Tobacco Trust and Standard Oil . The House of Representatives formed

2832-784: A station in Matawan, New Jersey . Two years later, Texaco replaced the long-running banjo sign with a new hexagon logo that had previously been test-marketed with the "Matawan" station design introduced two years earlier. The new logo featured a red outline with TEXACO in black bold lettering and a small banjo logo with a red star and green T at bottom. The following year, the Regent name was replaced by Texaco at British petrol stations. In 1970, in response to increasingly-stringent federal vehicle emissions standards that would induce automakers to install catalytic converters requiring equipped vehicles to run on unleaded gasoline, Texaco introduced their first regular-octane no-lead gasoline at stations in

2950-702: A substantial number of shares in the United States Realty Company, which had built New York's Plaza Hotel and was able to design his own 16 room apartment at the Plaza. Gates died in Paris, France , on August 9, 1911, following an unsuccessful operation to remove a throat tumor. His funeral was held on August 23, 1911, in the ballroom of the Plaza Hotel in New York; Gates had provided

3068-652: Is a well-known retail brand in the UK, with around 980 Texaco-branded service stations. Texaco was founded in Beaumont, Texas as the "Texas Fuel Company" in 1902, by Jim Hogg , Joseph S. Cullinan , John Warne Gates , and Arnold Schlaet . On 1 May 1902, the Texas Company was formed from the assets of Texas Fuel assets, and additional capitalization . In 1905, it established an operation in Antwerp , Belgium , under

3186-583: Is associated with the Havoline brand of motor oil and other automotive products. It was one of the sponsors of NASCAR with many drivers, such as Davey Allison , Ernie Irvan , Dale Jarrett , Kenny Irwin Jr. , Ricky Rudd , Jamie McMurray , Casey Mears , and Juan Pablo Montoya . Havoline continuously sponsored a car from the early 1980s to 2008. At the end of the 2008 season, Texaco/Havoline ended their sponsorship with NASCAR and Chip Ganassi Racing . This brought

3304-442: Is its fuel "Texaco with Techron ". It also owned the Havoline motor oil brand. Texaco was an independent company until its refining operations merged into Chevron in 2001, at which time most of its station franchises were divested to Shell plc through its American division . Texaco began as the "Texas Fuel Company", founded in 1902 in Beaumont, Texas , by Joseph S. Cullinan , Thomas J. Donoghue, and Arnold Schlaet upon

3422-640: The Alfa Romeo 75 in 1987, then the Ford Sierra RS500 from 1988 to 1992 and then Toyota Corollas in 1993. From 2000 until 2007 , it was title sponsor of Stone Brothers Racing with Russell Ingall winning the 2005 championship . In 2016 , Caltex became title sponsor of the Triple Eight Race Engineering car of Craig Lowndes , having previously been an associate sponsor of the team. From 1984 to 1998, Texaco were

3540-594: The Ford Sierra RS500 factory cars entered by Eggenberger Motorsport in the 1987 World Touring Car Championship (plus the 1988 ETCC and other European-based championships). Texaco also sponsored cars in the 1987 World Rally Championship . From 1987 to 1993, Texaco was the major sponsor (through its Australian Caltex offshoot) Colin Bond Racing in Australian touring car racing , first with

3658-584: The New York Yacht Club and New York's Union League Club . The application for Charlie Gates went from one desk to another for a number of weeks. When young Gates' name was brought up for a vote, the members of the admissions committee were unanimous in their "no" decision. Gates threatened to sue the club and the members denied his charges of Morgan being behind Charlie Gates' refusal. Gates withdrew Charlie's Yacht Club and Union League Club applications, apparently resigned that his son would not be

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3776-666: The Texaco Fire Chief . In 1936, the Texas Corporation purchased the Barco oil concession in Colombia , and formed a joint venture with Socony-Vacuum, now Mobil , to develop it. Over the next three years the company engaged in a highly challenging project to drill wells and build a pipeline to the coast across mountains and then through uncharted swamps and jungles. During this time, Texaco also illegally supplied

3894-480: The 1930s, comedian Ed Wynn hosted a half hour stand-up comedy/variety show on the NBC Radio Network, billed as "The Texaco Fire Chief", a reference to its regular grade gasoline. This trend continued into the late 1940s, when Wynn was replaced by Milton Berle as television becoming the dominant medium. The title was changed to the 60-minute Texaco Star Theater , which was also broadcast on NBC. In

4012-881: The Amazon Rainforest. In addition to the liquid pollution, it is alleged that workers burned off toxic natural gasses and some liquid waste, thus releasing highly toxic dioxins into the atmosphere. The NiMH chemistry used in modern hybrid vehicles was invented by ECD Ovonics founder, Stan Ovshinsky, and Dr. Masahiko Oshitani of the Yuasa Company In 1994, General Motors acquired a controlling interest in Ovonics 's battery development and manufacturing. On October 10, 2001, Texaco purchased GM's share in GM Ovonics, and Chevron completed its acquisition of Texaco six days later. In 2003, Texaco Ovonics Battery Systems

4130-531: The American Steel and Wire Company to the Louisville and Nashville Railroad and to the time when control of Tennessee Coal and Iron Company was wrested from him forcibly. He left for Paris while the committee was still in session. The result of the hearings was an investigation of U. S. Steel and its practices which would last for almost ten years. J. P. Morgan, who held the belief that he had "saved"

4248-609: The Los Angeles area and throughout Southern California . Lead-Free Texaco became available nationwide in 1974. On November 20, 1980, the Lake Peigneur/Jefferson Island disaster occurred. Two years later, a new service station design was introduced. Several product names were also changed with the advent of self-service, including Lead-free Texaco to Texaco Unleaded, Fire Chief to Texaco Regular, and Super Lead-free Sky Chief to Texaco Super Unleaded. At

4366-458: The Midwest and also gave Texaco the rights to Indian's Havoline motor oil, which became a Texaco product. The next year, Texaco introduced Fire Chief gasoline nationwide, a so-called "super-octane" motor fuel touted as meeting or exceeding government standards for gasoline for fire engines and other emergency vehicles. It was promoted through a radio program over NBC hosted by Ed Wynn , called

4484-478: The Pacific Northwest, including British Columbia, as well as the major international air and sea ports in the region. This article related to natural gas, petroleum or the petroleum industry is a stub . You can help Misplaced Pages by expanding it . Texaco Texaco, Inc. ("The Texa s Co mpany") is an American oil brand owned and operated by Chevron Corporation . Its flagship product

4602-467: The Plaza, on the site the Hotel Sabine had once occupied. Gates could have easily afforded to finance the entire cost of the new hotel, but he wanted Port Arthur's residents to have an equal share in the venture. Gates held local meetings and was happy to discuss the project or take pledges for the building fund at any time. After the pledges of local businessmen had reached US$ 150,000, Gates donated

4720-521: The Producers Oil Company on January 17, 1902, as an affiliate of The Texas Fuel Company. Investors like Gates invested "certificates of interest" to the sum of around $ 90,000 and Gates would invest another $ 590,000 in the company prior to it becoming known as Texaco . His investment entitled Gates to 46 percent of the company's stock. When Spindletop came in the next year, Gates was already in control of Port Arthur's docks, its refinery and

4838-516: The Southern Wire Company to compete with Washburn-Moen. Clifford's equipment to manufacture barbed wire had come from George C. Baker, who had invented a machine for producing barbed wire which was similar but not identical to the one made by Isaac Ellwood. Baker had resisted all attempts by Ellwood and Washburn-Moen to buy him out. Gates and Clifford sold their product at a cheaper price than Washburn-Moen. Before long, Washburn-Moen

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4956-772: The Texaco brand. In 2010, Chevron ended retail operations in the Mid-Atlantic US, removing its brand from 450 stations in Delaware, Indiana, Kentucky, North Carolina, New Jersey, Maryland, Ohio, Pennsylvania, Virginia, West Virginia, Washington, D.C. Prior to the merger with Chevron, Texaco's headquarters was a 750,000-square-foot (70,000 m ) building in Harrison , in Westchester County, New York , near to White Plains . In 2002, Chevron Corporation sold

5074-641: The Texas Company and was able to successfully battle Rockefeller's Standard Oil, who would have liked to take over his company's land. In 1909, he was taking his usual summer holiday in Europe when members of the Republican party from the Eastern District of Texas nominated him for Congress. He wired the convention to refuse the nomination, saying that he preferred to participate through his financial contributions. Gates had purchased an animal show and

5192-433: The U. S. Steel bonds were acceptable to the clearing house, they would be able to be used for the debts. It was suggested that President Theodore Roosevelt be consulted before such action was taken. Roosevelt was given only an outline of the issue; he was never told which institution would fail without U. S. Steel's takeover of Tennessee Coal and Iron. Roosevelt wrote a note to his Attorney General stating he had not learned

5310-702: The U. S. Steel merger. One month after the deal was completed, he became involved in a struggle between E. H. Harriman of the Union Pacific Railroad and James J. Hill of the Northern Pacific Railway . Both men sought control of the Chicago, Burlington and Quincy Railroad . Hill, who was financed by J. P. Morgan, needed access to Chicago; Harriman was interested in stopping Hill from obtaining it. Gates saw this as an opportunity to get back at Morgan for his refusal to seat him on

5428-533: The United States. In 1902, he attended the American Derby at Chicago's Washington Park Race Track , favoring Wyeth, the horse of an associate. When Wyeth won, Gates had profited close to US$ 100,000. At yet another race, Gates won US$ 650,000 from his large bets. The Jockey Club president, August Belmont, Jr., asked Gates to limit his bets to US$ 10,000, as such large wagers gave the impression that

5546-507: The annual stockholders' meeting. Osgood was upheld in this opinion by the company's board of directors. Determined to attend the meeting, Gates hired a special train to get to the meeting in Denver . John Osgood was prepared for Gates' arrival. He had obtained a Circuit Court injunction barring Gates and his associates from attending the meeting; the doors of Colorado Fuel and Iron were guarded by sheriff's deputies armed with shotguns. Gates

5664-484: The bank's books, they found the bank was sound, but were quite interested in the Tennessee Coal and Iron Company stock they found and indicated that the stock was not acceptable to them as security. Morgan proposed to buy Tennessee Coal and Iron to "rescue" all involved with the company. He outlined a plan whereby U. S. Steel would change its second mortgage bonds for Tennessee Coal and Iron stock. Because

5782-448: The best possible arrangements. Perkins called on Gates in his Waldorf-Astoria suite at 1:30 am. The deal for the Louisville and Nashville cost Morgan US$ 43 million, with Gates making a more than US$ 15 million profit from the transaction. After the Louisville and Nashville Railroad incident, Gates found that public opinion had turned against him as a result of it. Gates talked some associates into submitting his son's name for membership in

5900-437: The bet and before Gates' raindrop had won the race, the bets had changed from hundreds of dollars to thousands. Gates believed that all life was a gamble; a farmer gambled that he would have a successful harvest when planting crops, a merchant gambled that customers would buy items when ordering stock and a traveler gambled on arriving safely when setting out on a journey. Gates continued his heavy betting on horse races when in

6018-421: The biggest selling gasoline brand in the U.S. and only marketer selling gasoline under one brand name in all (by then) 50 states. It also acquired McColl-Frontenac Oil Company Ltd. of Canada and changes its name to Texaco Canada Limited. Around this time, Paragon Oil , a major fuel oil distribution company in the northeastern U.S., was acquired. In 1964, Texaco introduced the "Matawan" service station design at

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6136-536: The board of U. S. Steel. Along with Harriman, he began buying shares of Northern Pacific stock. When James Hill noted a sudden rise in Northern Pacific stock prices, he traveled to New York to consult with Morgan. Morgan and Hill stopped the sales of the Northern Pacific stock, which remained high while other stocks took steep drops. Those who had been selling short could not obtain enough stock to cover themselves and were faced with large financial losses. It

6254-449: The board when he began talking about consolidating the three steel companies. One was L. C. Hanna, the brother of Mark Hanna ; the other was Grant Schley, who had a Wall Street brokerage. Gates now began purchasing shares of Tennessee Coal and Iron in preparation of the consolidation. In January 1905 he was ready to outline his plan to potential members of the trust, with the exception of Republic's president, A. W. Thompson. When Thompson

6372-437: The business, he was not able to. A son, Charles Gilbert Gates , was born to Gates and Dellora on May 21, 1876. Gates began to complain of various ailments soon after the baby's birth; at times, he would take to his bed for some days with them. Business at the hardware store had become so bad, Gates was not able to afford the rent on the family's home. They had to move into two rooms above the hardware store, with Gates saying he

6490-559: The campus library for Lamar State College–Port Arthur. It was entered into the National Register of Historic Places in 1981. In 1971, Gates was honored with a state historical marker at the site of his Military Plaza barbed wire demonstration in San Antonio. In 1909, as a gift to the city of Port Arthur, TX, and to improve the educational training and opportunities of the community, John Gates founded Port Arthur College,

6608-530: The charges made against them in court, the judge ruled that the manufacturing process used by Southern Wire Company was not an infringement on any patents or machinery owned by Ellwood and Washburn-Moen. After a fire destroyed the Southern Wire Company, Gates gambled on the idea that William C. Edenborn had not heard the news and approached him for a merger with the idea that Southern Wire would manufacture in Edenborn's now idle barbed wire plant. The new company

6726-475: The city's docks and refineries also stopped their operations during this time to honor Port Arthur's benefactor. While Gates left the bulk of his estate to his wife and son, he inserted a clause in his will that prohibited his family from selling any of his securities until ten years after his death. Gates is said to have included the clause in his will to protect friends who had invested with him from these securities being sold soon after his death. Gates' estate

6844-1003: The closure of the Cloud Club in 1979. Joseph S. Cullinan , 1901–1913 Elgood C. Lufkin, 1913–1920 Amos L. Beaty, 1920–1926 Ralph C. Holmes, 1926–1933 William S. Rodgers, 1933–1944 Harry T. Klein, 1944–1952 John S. Leach, 1952–1953 Augustus C. Long, 1953–1956 James W. Foley, 1956–1963 J. Howard Rambin Jr, 1964 Marion J. Epley, 1965–1970 Maurice F. Granville, 1970–1971 John K. McKinley, 1971–1983 Alfred C. DeCrane Jr, 1983–1986 James W. Kinnear, 1987–1993 Elgood C. Lufkin, 1920–1926 Amos L. Beaty, 1926–1927 Ralph C. Holmes, –1933 Charles B. Ames, 1933–1935 Torkild Rieber , 1935–1940 William S. Rodgers, 1944–1953 John S. Leach, 1953–1956 Augustus C. Long , 1956–1965 J. Howard Rambin Jr, 1965–1970 Marion J. Epley, 1970–1971 Maurice F. Granville, 1971–1980 John K. McKinley, 1980–1986 Alfred C. DeCrane Jr, 1987–1996 Peter I. Bijur, 1997–2001 Glenn F. Tilton , 2001 Texaco

6962-530: The collateral for the loans. Oakleigh Thorne was the president of the Trust Company of America bank and also a member of the Gates coalition. Thorne believed his bank was in sound financial condition until a New York Times article stated otherwise. Thorne told reporters that if he paid off every depositor, he would still have US$ 4 million in assets. When the clearing house run by J. P. Morgan audited

7080-425: The company added the detergent additive Petrox to its "Sky Chief" gasoline, which was also souped up with higher octane to meet the antiknock needs of new cars with high-compression engines. The next year, Texaco became the sole sponsor of The Huntley-Brinkley Report on NBC-TV. In 1959, the Texas Company changed its corporate name to Texaco, Inc. to better reflect the value of the Texaco brand name, which represented

7198-404: The company formed the joint venture Equilon with Shell Oil Company , combining their Western and Midwestern U.S. refining and marketing. This gave rise to the 2006 U.S. Supreme Court antitrust case of Texaco Inc. v. Dagher , which cleared both Texaco and Shell of any antitrust liability concerning the pricing of Equilon's gasoline. That same year, another joint venture, Motiva Enterprises ,

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7316-487: The company needed additional funding, which J.W. Gates provided in the amount of approximately $ 590,000 in return for company stock. Texaco was one of the Seven Sisters which dominated the global petroleum industry from the mid-1940s to the 1970s. Its current logo features a white star in a red circle (a reference to the lone star of Texas), leading to the long-running advertising jingles "You can trust your car to

7434-472: The company's product, and went on to start his own barbed wire manufacturing business, which eventually led to the production of steel. In the process, his company was purchased by J. P. Morgan 's U. S. Steel . Gates was not invited to become part of the company, and he fought back at Morgan for many years through a series of business acquisitions and sales; both men were key figures in the Panic of 1907 . Gates

7552-494: The company's stock shares, but the company's owner and founder, John C. Osgood , claimed the shares were not valid. Osgood said that while the company was listed on the New York Stock Exchange, any transfer of the shares without his signature and approval, made them invalid. He went on to say that because of their invalidity, those who held shares of the company's stock without them, were not eligible to attend

7670-632: The company. As they avoided process servers, Gates and Clifford made a plan to save their company. They were able to rent a building in East St. Louis, Illinois , and moved their equipment out of the factory and onto a ferryboat after dark. After they crossed the Mississippi River, the machines were out of the jurisdiction of the St. Louis U. S. District Court and were back in business the next day. When Clifford and Gates hired an attorney to answer

7788-618: The condition that Shell sell its current refinery, located directly north of (adjacent to) the newly-acquired Equilon refinery. The jointly owned former Texaco refinery was renamed the Puget Sound Refinery . At the neighbor refinery, meanwhile, Tesoro , an independent Texas-based midstream and downstream company, won bidding for the old Shell Anacortes Refinery at $ 237 million, with an additional payment of $ 60 million for net working capital. Tesoro became Andeavor in 2017, and with Marathon Petroleum's purchase of Andeavor in 2018,

7906-540: The country from the Panic of 1907, was disgusted at the "ingratitude" of both the government and the nation's citizens. Gates maintained a suite at the Waldorf-Astoria of New York City from 1894 onwards. Though he paid US$ 30,000 yearly for it, his visits pained the hotel's manager, George Boldt , at times. Gates and his guests were often loud and boisterous. He had a private entrance and elevator, but Gates had

8024-473: The diamond to Tiffany & Co. to be set in a piece of jewelry of her choice. In 1900, Gates won $ 600,000 on a $ 70,000 bet on a horse race in England, exaggerated at over $ 1 million, which conferred on him the nickname "Bet-A-Million". The Waldorf's Oscar Tschirky recalled that Gates did not like the nickname, but did little to repudiate the claims as he would bet on practically everything. Oscar recalled

8142-482: The discovery of oil at Spindletop . The Texas Fuel Company was not set up to drill wells or to produce crude oil. To accomplish this, Cullinan organized the Producers Oil Company in 1902, as a group of investors affiliated with The Texas Fuel Company. Men such as John W. ("Bet A Million") Gates invested in "certificates of interest" to an amount of almost ninety thousand dollars. Future restructuring would merge Producers Oil Company and The Texas Fuel Company as Texaco when

8260-904: The end of 1981 and the beginning of 1982, members of the Medellín Cartel (including Pablo Escobar ), the Colombian military, the U.S.-based corporation Texas Petroleum , the Colombian legislature, small industrialists, and wealthy cattle ranchers came together in a series of meetings in Puerto Boyacá , and formed a paramilitary organization known as Muerte a Secuestradores ("Death to Kidnappers", MAS) to defend their economic interests, and to provide protection for local elites from kidnappings and extortion. By 1983, Colombian internal affairs had registered 240 political killings by MAS death squads, mostly community leaders, elected officials, and farmers. On November 19, 1985, Pennzoil won

8378-445: The family's farm, but did not care for farm life. At an early age, he entered into his first business proposition: to husk a neighbor's corn. His next business venture was to clear some land of timber for another neighbor. Gates earned US$ 1,000 for this job, selling the timber as firewood to homes and to the railroad. Gates then took the money from this labor and bought a half interest in a threshing machine . As this type of equipment

8496-578: The fascist Nationalist faction in the Spanish Civil War with a total 3,500,000 barrels (560,000 m ) of oil. For these illegal sales to Francisco Franco 's fascist forces the company was fined $ 20,000 for violating the Neutrality Act of 1937, although it continued to sell to Franco on credit until the end of the war. Also in 1936, marketing operations "East of Suez" (including Asia, East Africa, and Australasia) were placed into

8614-622: The former Texaco Headquarters to Morgan Stanley . Morgan Stanley bought the building and the surrounding 107 acres (0.43 km ) for $ 42 million. Texaco leased 14 floors of the Chrysler Building in Midtown Manhattan , New York City in the 1930s. As part of the leasing agreement with Texaco the building opened the Cloud Club , a lunch club for executives. Texaco's move to Westchester County in 1977 contributed to

8732-538: The funding for the construction of the hotel. Gates' mourners had come from all parts of the country; three floors of the Plaza Hotel were reserved for those attending his services. A large delegation arrived from Texas, where Gates had done much for the city of Port Arthur. The city of Port Arthur held its own memorial service on the same day Gates was buried. Flags were lowered to half staff and from noon until 6 pm all businesses in Port Arthur were closed;

8850-601: The ground up as a high-octane gasoline rather than just an ethylized regular product. In 1939, Texaco became one of the first oil companies to introduce a "Registered Rest Room" program to ensure that restroom facilities at all Texaco stations nationwide maintained a standard level of cleanliness to the motoring public. After the onset of World War II in 1939, Texaco's CEO, Torkild Rieber , admirer of Hitler, hired pro-Nazi assistants who cabled Berlin "coded information about ships leaving New York for Britain and what their cargoes were." This espionage easily enabled Hitler to destroy

8968-535: The man who wears the star" and "Star of the American Road." The company was headquartered in Harrison, New York , near White Plains , prior to the merger with Chevron. Texaco gasoline comes with Techron, an additive developed by Chevron, as of 2005, replacing the previous CleanSystem3. The Texaco brand is strong in the U.S., Latin America, and West Africa. It has a presence in Europe as well; for example, it

9086-550: The name Continental Petroleum Company, which it acquired control of in 1913. In 1915, Texaco moved to new 13 story offices on 1111 Rusk St., Houston, Texas. In 1928, Texaco became the first U.S. oil company to sell its gasoline nationwide under one single brand name in all of the then 48 states. In 1931, Texaco purchased the Indian Oil Company , based in Illinois. This expanded Texaco's refining and marketing base in

9204-402: The name of the troubled business, but felt that he should not object to this occurrence. The New York Times , however, printed its amazement that Tennessee Coal and Iron stocks were not acceptable to the clearing house and that the Trust Company of America was deemed insolvent when it had more than enough assets to cover all deposits. The newspaper concluded that U. S. Steel wanted to take over

9322-540: The new brand HydroTexaco. This joint venture was sold in 2007 to Norwegian retail interests as YX Energi , following the purchase of Hydro by Statoil . In 1996, Texaco paid over $ 170 million to settle racial discrimination lawsuits filed by Black employees at the company. It was the largest racial-discrimination lawsuit settlement in the U.S. at the time, and was particularly damaging to Texaco's public relations when tapes were released of meetings with company executives planning to destroy incriminating evidence. In 1999,

9440-671: The next year. Around 2003, due to lack of demand, Texaco closed Refineria Panamá, a refinery in Colón, Panama . In July 2004, Chevron regained non-exclusive rights to the Texaco brand name in the U.S. The following year, in August, Texaco introduced the Techron additive into its fuels in the U.S. and parts of Latin America. In 2007, Delek Benelux took over marketing activities for Chevron in Benelux , including 869 filling stations, mostly under

9558-448: The next year; most of them were for farm work. Gates and Dellora were married on February 25, 1874. Gates tried to revive his grain brokerage business but lost all his savings through it. When the couple's first child was stillborn, Gates returned to his old pattern of playing poker and thought seriously about leaving town with Dellora. With this knowledge, Mary Gates told her husband he needed to help his son financially so he could start

9676-620: The one-time Shell Anacortes Refinery became the Marathon Anacortes Refinery . When Texaco merged with Chevron in 2001, Shell bought out Texaco's share of Equilon, making Shell the sole owner of both Equilon and the Puget Sound Refinery. Shell sold the Puget Sound Refinery to the HollyFrontier in 2021 for $ 350 million. As of 2022 it has a capacity of 149,000 barrels a day and serves customers in

9794-469: The open hearth process were readily found in Alabama. Gates envisioned bringing Republic, Tennessee Coal and Iron and Sloss-Sheffield together into a steel trust to challenge J. P. Morgan's U. S. Steel. When August Belmont Jr. resigned his seat on Republic's board to concentrate on consolidating the New York transit system, Gates was elected to fill Belmont's seat. Gates found two like-minded members of

9912-667: The open-hearth process for steel production was confirmed by a report from the US Bureau of Corporations . The report stated that an agent for U. S. Steel and a large railroad affiliated with J. P. Morgan pronounced the rails produced by the open-hearth process to be twice as good at those made by the Bessemer process , which was used by U. S. Steel. The report went on to praise Gates and his competitiveness. In 1907, Gates took his usual summer holiday in Europe. Upon arriving in Paris, he

10030-543: The owner of the Port Arthur Canal and Dock Company, he held the asset for a time; in 1906 he gave the canal to the US government under the condition that Port Arthur would be named an international port of entry. Gates founded the first bank, built a rice mill and established the Port Arthur Light, Power and Ice Company. When he decided to make Port Arthur his permanent residence in 1908, the town held

10148-520: The past, Morgan did not want Gates to be a part of the merged company, saying that there was only a deal without Gates. Morgan made an offer to Gates for the American Steel and Wire Company, telling him that he was not welcome to take part in the business of U. S. Steel-either as part of management or on the company's board of directors. Morgan continued by saying that if Gates did not accept his offer, U. S. Steel intended to build its own wire production plant. Gates never forgot J. P. Morgan's snub at

10266-496: The races were not honest ones. Outside of his own hotel suite, Gates' favorite spot in New York City was the gambling establishment opened by Richard Canfield in 1898. The club was at 5 East 44th Street. Delmonico's was next door and provided catering to the club's guests. When there or at Canfield's Saratoga clubhouse, Gates' favored game was faro which he had learned while selling barbed wire in Texas. Gates set up

10384-425: The railroad depot where he had previously sold firewood. The railroad men remembered him and now asked him to join their poker games. Gates found he had an aptitude for the game and for anticipating the cards men held and how they would play them. With the grain brokerage now forgotten, he was able to make up the losses at the card table. While attending a house party near St. Charles , he met and fell in love with

10502-486: The railroad needed to get the oil to market. Gates became influential in the development of the city of Port Arthur, Texas , when he took over the Kansas City, Pittsburgh and Gulf Railroad in December 1899 after he forced it into bankruptcy along with its previous owner and Port Arthur founder Arthur Edward Stilwell . Gates built a winter home in the city and contributed much to its development. After Gates became

10620-642: The railroad to duplicate the panic that ensued the year before with the Great Northern Railway shares. J. P. Morgan learned of the events in April 1902 and found that Gates now owned more than 51 percent of the Louisville and Nashville's stock. Morgan decided to act to stop another Wall Street panic, and asked what Gates' terms of sale would be. Gates wanted US$ 150 per share of stock, an offer which Morgan initially rejected. He then dispatched his aide, George Walbridge Perkins , to talk to Gates and make

10738-404: The rate of exchange of their shares. Though this was promised, those holding smaller amounts of stock were said to have received less compensation for them. Gates involved himself in bettering Port Arthur after losing Tennessee Coal and Iron. He was suffering from a kidney ailment and diabetes and needed to take time away from the town's business when either flared up. He still had control of

10856-517: The realization that he needed more education than grammar school had provided, he announced to his parents that he would be enrolling in some local college classes. Gates attended some courses at nearby Wheaton College and graduated from North Central College in 1876. He had little opportunity to put his new business education to work, as the financial Panic of 1873 began just as he was completing his college work. In order to be able to marry Dellora, Gates accepted every type of job he could get for

10974-613: The remaining US$ 150,000, and the project began to be built by United States Realty Company. Gates took great pleasure in watching the Plaza Hotel take shape. He was a daily visitor to the construction site as the Spanish mission style building was erected. When the hotel was opened, Gates held a special "billion dollar banquet" on November 15, 1909; his guests were men who owned railroads, Texas Company board members, and other successful men in business. Port Arthur had never seen so many wealthy and powerful men and residents were impressed by

11092-512: The ruling in favor of Washburn-Moen only applied to areas in the jurisdiction of the U. S. Federal Court in Des Moines. Washburn-Moen continued to falter; Isaac Ellwood sent word asking for a meeting with Gates. Ellwood and another key figure with Washburn-Moen, John Lambert, now accepted offers from Gates. The barbed wire legal issues ended with Washburn-Moen selling their patent rights to Gates and his syndicate of wire manufacturers. Through

11210-576: The sale of firewood to homes and to the local railroad. When he started a local grain brokerage that failed, Gates began spending time at the local railroad station and became reacquainted with the men he previously sold firewood to. He was invited to join their poker games and through this, Gates' aptitude for cards and other games of chance was developed. After studying penmanship, bookkeeping and business law in North Central College (by then Northwestern College), he failed as an owner of

11328-465: The ships. In 1940, Rieber was forced to resign when his connections with German Nazism , and his illegal supply of oil to the fascist forces during the Spanish Civil War were made public by the Herald Tribune through information produced by British Security Coordination . Life Magazine portrayed Rieber's resignation as unfair, advocating that he only dined with Westrick , and lent him

11446-585: The sight of them. Gates served as the hotel's manager in the first few weeks it was in operation. He hired African-Americans as waiters; this was considered to be very bold, as African-Americans were barred from living and working in the city at the time. Gates continued to have hopes of being able to take on J. P. Morgan again-this time with a rival steel trust. After the sale of his Louisville and Nashville Railroad stocks to Morgan in 1902, Gates quietly began buying shares of Colorado Fuel and Iron Company. He and his associates easily owned more than 50 percent of

11564-434: The sponsorship lyrics of the opening theme: "We're the men of Texaco, We work from Maine to Mexico..."). Berle's program was broadcast in the same time slot as Fulton J. Sheen 's religious program for a while, thus leading to Berle's oft-quoted quip, "We both have the same boss – Sky Chief!" Texaco was also the sponsor of the weekly Metropolitan Opera radio broadcasts , which air to this day since its inception in 1931. In

11682-623: The steel industry. In 1903, he began buying shares of Republic Steel . Its two main competitors were in the US South- Tennessee Coal, Iron and Railroad Company , and the Sloss-Sheffield Iron and Steel Company in Alabama . All three were able to use inexpensive Southern iron ore to produce quality steel with the open hearth process , making the price of the steel produced with it cheaper. The minerals needed for

11800-463: The time he was 15 years old. While Gates was raised in a religious household, his mother, Mary, became more religious after the deaths of her two older sons. Because he had been involved in some harmless childhood mischief in both grammar and Sunday School, he was accused of stealing a collection at the Sunday School. He was barred from attending church as a result. Gates was raised on

11918-838: The title sponsors of the main One Day International cricket tournament in England, the Texaco Trophy . It also sponsored the Texaco Cup , a football tournament for clubs of the British Isles. Texaco was long associated with the Metropolitan Opera as sole sponsor of its radio broadcasts for 63 years. It was identified as well with such entertainment legends as Ed Wynn , Fred Allen and Milton Berle (many of their shows were originally sponsored by Texaco – see Texaco Star Theatre , which includes

12036-464: Was advised of the scheme, he declared there would be no such trust with Republic as a member; when put to a formal vote, Republic's board members voted down the idea of joining a trust. During this time, Gates was able to purchase enough shares of Tennessee Coal and Iron to give him a controlling interest in the company. Gates was riding high with both Republic and Tennessee Coal and Iron doing well with more orders that both could fill. His assessment of

12154-522: Was angry about being refused entry to the meeting, but he became enraged when he learned he was described in the local Circuit Court as a "high roller and a gambler". Gates returned to New York to try utilizing the Federal Court system there. As the legal wrangles continued, the stock of the company began dropping in value; during this time Gates lost US$ 3 million, but still was unsure of his legal status with Colorado Fuel and Iron. Osgood announced he

12272-564: Was decided to add another short line to the L&;N system, its board of directors voted to issue 50,000 new shares of stock to finance the new line. A clerical error offered the stock for sale before it could be listed on the New York Stock Exchange . Gates saw the offering and purchased the shares prior to their listing; he also continued buying all the Louisville and Nashville stock he was able to. Gates had enough shares of

12390-428: Was done at least US$ 2 million had changed hands. Dellora Gates had long since resigned herself to her husband's all-night poker games, but many times became upset about them. Gates made it a practice to keep some unset diamonds in his vest pocket for the times when Dellora became angry about the late hours at cards. He would then present a gem to his wife, who would suddenly forget her anger with him. Dellora would take

12508-710: Was formed with Shell Oil Company and Saudi Aramco in which the Star Enterprise operations were merged with the Eastern and Gulf Coast U.S. refining and marketing operations of Shell. In October 2000, Chevron Corporation agreed to buy Texaco for $ 36 billion. The merger was completed October 9, 2001. As required by the FTC consent agreement, Texaco's interest in the Equilon and Motiva joint ventures were sold to Shell. Shell began re-branding its Texaco stations as Shell

12626-483: Was known as St. Louis Wire Mill Company. They continued to buy other wire companies and had strong sales. Washburn-Moen went back into court, this time in Des Moines, Iowa , where a federal judge ruled that the machinery created by Baker was an infringement of Washburn-Moen's patents. By this time, Gates had created a syndicate of barbed wire manufacturers who did not produce their wires using Washburn-Moen's methods;

12744-492: Was losing substantial business to Gates and Clifford's Southern Wire Company. In an effort to stop the success of the former company salesman, Ellwood and Washburn-Moen filed for an injunction to stop the business of Southern Wire Company. The suit, filed in U. S. District Court, claimed the machines Gates and Clifford used in the production of their product were a direct copy of those used by Washburn-Moen. The suit also called for Gates and Clifford to pay US$ 100,000 in damages to

12862-485: Was met with an urgent cablegram from Grant Schley. Schley, the owner of a brokerage and a board member of Republic Steel and Tennessee Coal and Iron, advised Gates of serious business trouble and asked him to return to the US at once. As the Panic of 1907 began, Schley's brokerage had become short of money and it was necessary for him to obtain large loans to try to keep the brokerage solvent. Schley offered some US$ 6 million shares of Tennessee Coal and Iron Company as part of

12980-515: Was restructured into Cobasys , a 50/50 joint venture between Chevron and Energy Conversion Devices (ECD) Ovonics . John Warne Gates John Warne Gates (May 18, 1855 – August 9, 1911), also known as "Bet-a-Million" Gates, was an American Gilded Age industrialist and gambler. He was a pioneer promoter of barbed wire . He was born and raised in what is now West Chicago, Illinois . He did not enjoy farm life and began offering neighbors various business propositions at an early age, including

13098-505: Was rumored that Gates was short 60,000 shares of Northern Pacific stock. Gates did not confirm or deny any of the rumors about the railroad stock and would only say that he was doing well. As Gates continued to search for a way to get back at Morgan for cutting him out of U. S. Steel, he found a vulnerability in Morgan's railroad holdings in 1902 and began buying large numbers of shares in Morgan's Louisville and Nashville Railroad . When it

13216-867: Was sold to Imperial Oil with all Texaco Canada retail operations converted to Esso brand. Two years later, the company was awarded the National Medal of Arts . In 1993, several dozen tribal leaders and residents from the Ecuadoran Amazon filed a billion-dollar class-action lawsuit against Texaco, as a result of massive ecological pollution of the area and rivers around Texaco's Ecuadorian offshore drilling sites, causing toxic contamination of approximately 30,000 residents. In 1994, Texaco's System3 gasolines were replaced by new CleanSystem3 gasoline, marketed with claims of improved engine performance. In 1995, Texaco merged their Danish and Norwegian downstream operations with those of Norsk Hydro under

13334-592: Was the president of Republic Steel and of the Texas Company, later known as Texaco . He was instrumental in changing the steel industry's production methods from the Bessemer process to the open hearth process and in building the city of Port Arthur, Texas . Gates was born in West Chicago, Illinois (then known as Turner Junction) on May 18, 1855. He was the son of Asel A. and Mary Warne Gates. Gates had two older brothers, George and Gilbert, but both had died by

13452-472: Was too ill to help with the moving and packing. While at the hardware store, Gates met a salesman who was in the barbed wire business. As a result, Gates became interested in the relatively new product. When he announced his intentions to sell his interest in the hardware store and become a traveling salesman for the product, his wife and mother were both in favor of the plan. He made a trip to San Antonio, Texas , in 1876, where Isaac Ellwood hired him as

13570-468: Was valued at between US$ 40 and US$ 50 million. He was buried in the family mausoleum at Woodlawn Cemetery in The Bronx , New York City. The mausoleum is featured in one of the opening scenes in the film Once Upon a Time in America . The Gates Memorial Library in Port Arthur was funded by his widow and donated to the city in 1918. Originally the city's public library, Gates Memorial now serves as

13688-459: Was very new at the time, few farms owned one, so Gates and his partner hired themselves out to work with it at various local farms. After one season, Gates tired of this type of work and he sold his interest in the threshing machine to his partner and another friend. Gates then set himself up as a local grain broker, doing business from the family's home. This business venture was a failure; in an effort to escape farm work, he took to spending time at

13806-417: Was widely publicized by environmental activists and was the subject of Crude , a 2009 documentary film by Joe Berlinger. In turn, Texaco's owner Chevron claims that it was being unfairly targeted as a deep pocket defendant, when the actual responsibility lies with the government and its national oil company , Petroecuador . Texaco allegedly decided to forgo their standard drilling practices in favor for

13924-474: Was willing to meet Gates halfway, but Gates declined the offer. He accused Osgood of tampering with the courts and claimed that he would receive the legal ownership of the company he was due. Apparently feeling that a long battle was not worth it, Gates gave up the fight some weeks later and sold the shares, which eventually wound up with the Rockefeller family . Once more, Gates planned to get back into

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