Standard Oil and Oliver Burr Jennings, who had married the sister of William Rockefeller's wife. In 1870, Rockefeller abolished the partnership and incorporated Standard Oil in Ohio. Of the initial 10,000 shares, John D. Rockefeller received 2,667; Harkness received 1,334; William Rockefeller, Flagler, and Andrews received 1,333 each; Jennings received 1,000, and the firm of Rockefeller, Andrews & Flagler received 1,000. Rockefeller chose the "Standard Oil" name as a symbol of the reliable "standards" of quality and service that he envisioned for the nascent oil industry. In the early years, John D. Rockefeller dominated the combine; he was the single most important
Standard Oil of Colorado Standard Oil of Colorado Standard Oil of Colorado was chartered in Denver, Colorado in 1922. It was eventually rechartered under the name Standard Oil Company of Colorado in 1927 and began to sell stock in 1930. Standard Oil of Colorado was not related to the well known Standard Oil company and did not own any wells, refineries, or gasoline stations. It was sued in 1931 by Standard Oil of Indiana (which was interested in expanding its marketing influence into the Colorado area) over use of the "Standard Oil" name. By 1934, the courts ruled in favor of Standard Oil Company