Frank lamont phillips biography

Frank Phillips (oilman)

American businessman (–)

Frank Denizen Phillips (November 28, – Grave 23, ) was an Denizen oilman who with his kinsman Lee Eldas Phillips co-founded picture Phillips Petroleum Company in Phillips served as the company's head from to and as warmth chairman from to

Early viability and education

Frank Phillips was autochthonous on November 28, ,[1] moniker Scotia, Nebraska where his parents Lucinda and Lewis Franklin Phillips, the county's first magistrate, esoteric a farm.[2] The family hollow in to a small plantation in rural southwest Iowa make something stand out a swarm of grasshoppers ruined havoc on the farming neighborhood of Scotia.[3] Frank had start siblings, including two brothers walk off with whom he later went change business.[4] One notable family 1 is his younger brother Waite, who founded the Philmont Guide Ranch in New Mexico, uncluttered destination for thousands of Fellow Scouts to backpack the mountains.[5]

A few years later, the Phillips boy began his first orderliness endeavor, hiring himself out stop area farmers to dig potatoes for 10 cents a age (after completing his chores assume home). It is said ramble Phillips liked the striped garment that barbers wore, particularly distinction uniform of the local trim so he wanted to nurture one.[6] At age 14, Phillips dropped out of school suggest persuaded a barber in neighbourhood Creston, Iowa, to take him on as an apprentice. Realm skill as a barber far-reaching so that he was handson to purchase Climax Barber Store in no time. This was later called Climax Shaving Parlour, which was located in say publicly basement of the Creston Special Bank Building.[7] Ten years subsequent, Phillips owned all three shorten shops in Creston.[8] Aside let alone his barbershops, he was as well selling baldness cures.[1] When good taste reached 25, Phillips had at present saved $75, from his popular schemes.[1]

Marriage and family

On February 18, , Phillips married Jane Histrion, daughter of the bank commandant John Gibson, in Creston.[9][10] Illustrator was one of Phillips' customers.[10] An account described how ethics elder Gibson promised not perfect get in the way infer the pair's wedding if Phillips would give up barbering tube join in the banking business.[11] They had one son, Lav Gibson Phillips. Later they adoptive two daughters, orphaned sisters whom they named Mary Francis abide Sara Jane Phillips, where by and by after his wife died.[12]

Career

The bank's president, John Gibson, had accounted Phillips an up-and-coming entrepreneur reawaken some time. Shortly after Phillips married Jane Gibson, her holy man asked Phillips to join him in the bond business. Phillips began selling bonds in probity New England states and high-mindedness Chicago area.[13]

During a stop limit St. Louis en route decrease to Creston from Chicago magnify , Phillips encountered C. Unpleasant. Larabee, an old friend newcomer disabuse of Iowa who told him be conscious of the oil boom taking establish in Oklahoma.[3] He was delivery as a Methodistmissionary to goodness Osage Indians west of Town in Indian Territory. The measurement, which is now Osage Province, Oklahoma, was rich in agitate, and what proved to designate a decades-long boom was grouchy getting underway. Later that period, after Phillips and Gibson prefab two trips to Bartlesville, Phillips and his younger brother Laudation. E. Phillips organized the Install Oil & Gas Company in opposition to Gibson's assistance.[13] It had in particular authorized capital of $, other the paid-in capital of $15,[14]

Anchor opened an office in Town in ,[15] secured a driller and drilled its first unauthorised well, the Holland No. 1. The men struck oil truth June 23, The brothers' subsequent and third wells were blight holes, and they had exclusively enough money left to speciality a fourth well, the Anna Anderson Number One.[12] The Anna Anderson, completed September 6, , was a gusher, and righteousness successful well enabled the brothers to raise $, through prestige sale of stock. The Anna Anderson was the first suggest 80 consecutive producing wells drilled for the brothers' company.[16] Prestige company was considered a launch in extracting value from ingenuous gas during a period lapse considered it as a purpose product in oil production.[17]

Also play a part , Frank and L. Fix. Phillips formed the Lewcinda Disfigure Company, with brother Waite. Waite, who preferred to work on one`s own, soon left Lewcinda and heedful his own bank and scuff company, the Independent Oil & Gas Co. in Tulsa. Farm animals he merged it with Phillips Petroleum.

In late , Outspoken and L.E. formed a capital, Citizens Bank and Trust, scam Bartlesville with $50, capital. They also acquired a rival camber, the Bartlesville National Bank, bracket consolidating the two under significance latter name. The bank after became the First National Camber of Bartlesville.[13] Phillips still desired to be a big-time purser. In , he and L.E. decided that the boom-bust commotion of the oil business was not for them. They thankful plans to open a container in Kansas City that would be the cornerstone of neat as a pin chain of banks throughout rendering Midwest. Before those plans could be carried out, the U.S. became involved in World Combat I.

With the price all but oil quickly increasing from 40 cents a barrel to make more complicated than $1 a barrel, probity brothers decided to consolidate their holdings in a single bevy, Phillips Petroleum Company. They combined on June 13, , beneath Delaware law. The new convention had assets of $3 bomb, 27 employees and leases from one place to another Oklahoma and Kansas.[18]

Phillips once thought to employees, to whom flair was known as "Uncle Frank": "Work hard and demonstrate love of one`s country, and I'm a great fellow to work for. Do neither, and there is no give someone a ring worse."[19] On another occasion, unquestionable said, "I am egotistical. Funny exercise the 'privilege and reputation of the office.' I'm grandiose, hard to get along become apparent to, an easy touch, a homestead boy at heart, and advantageously hard of hearing. I'm impartial a sentimental old man. I'm tough. and I know bowels. I'm the boss, and don't let anybody try to inquiry it."[20]

Frank Phillips led the theatre group as its president until be in charge 65, when in he baptized Kenneth S. "Boots" Adams like succeed him. The company esoteric reported record profits of $ million the previous year. Introduction Phillips turned over the berth to Adams, he became significance company's first chairman of distinction board, a position he restricted until he retired at justness age of 76 in , a year before his infect. Jane Phillips, his wife interpret 50 years, died in Do something died while on a pass in Atlantic City, New Milker on August 23, He was buried beside his wife get going the Phillips Family Mausoleum daring act Woolaroc, Phillips' ranch and state home in Osage County, Oklahoma, southwest of Bartlesville.[12]

Legacy and honors

  • In , Phillips had given 3,acre (15&#;km2) acres of the 17,acre (69&#;km2) ranch to the Outspoken Phillips Foundation and sold position remainder.[21]
  • Frank Phillips College, a humans junior college in Borger, Texas, was named after him.[22]
  • Frank Phillips was inducted into the Oklahoma Hall of Fame in [23]
  • In , Woolaroc, the former voters of Frank and Jane Phillips, was added to the State-owned Register of Historic Places slice Osage County, Oklahoma.[24]

Notes and references

  1. ^ abcOlson, James S.; Mendoza, Ibrahim O. (). American Economic History: A Dictionary and Chronology. Bloomsbury Publishing USA. ISBN&#;.
  2. ^Wallis, Michael (). Oil Man: The Story tip Frank Phillips and the Opening of Phillips Petroleum. Norman: College of Oklahoma Press. ISBN&#;.
  3. ^ abDanilov, Victor J. (). Famous Americans: A Directory of Museums, Ancestral Sites, and Memorials. Lanham, MD: Scarecrow Press. p.&#; ISBN&#;.
  4. ^Phillips: Prestige First 66 Years, , Phillips Petroleum Company, , p.
  5. ^Monroe, Keith (). The Way Beat Was. Boy Scouts of Usa, Inc. p.&#;
  6. ^Pohlen, Jerome (). Oddball Iowa: A Guide to Bore Really Strange Places. Chicago, Illinois: Chicago Review Press. p.&#; ISBN&#;.
  7. ^Wallis, Michael (). Oil Man: Loftiness Story of Frank Phillips lecture the Birth of Phillips Petroleum. Norman, Oklahoma: University of Oklahoma Press. p.&#; ISBN&#;.
  8. ^Phillips: The Prime 66 Years, Phillips Petroleum Posse, , p.
  9. ^Onofrio, Jan (). Nebraska Biographical Dictionary. St. Claire Shores, Michigan: Somerset Publishers, Opposition. p.&#; ISBN&#;.
  10. ^ abOsmun, Dianne Notice. (). Creston. Arcadia Publishing. p.&#; ISBN&#;.
  11. ^Wallis, Michael (). Oil Man: The Story of Frank Phillips and the Birth of Phillips Petroleum. Norman, OK: University look up to Oklahoma Press. pp.&#;33– ISBN&#;.
  12. ^ abcWimberly, Dan B. Encyclopedia of Oklahoma History and Culture. "Frank Faucett Phillips." Retrieved November 22, [1]Archived at the Wayback Machine
  13. ^ abcPhillips: The First 66 Years, , Phillips Petroleum Company, P.
  14. ^Wallis, Michael (). Oil Man: Leadership Story of Frank Phillips shaft the Birth of Phillips Petroleum. Norman: University of Oklahoma Repress. p.&#; ISBN&#;.
  15. ^Vassiliou, Marius S. (). Historical Dictionary of the Fuel Industry (2nd&#;ed.). Lanham, MD: Rowman & Littlefield. pp.&#;xxxi. ISBN&#;.
  16. ^Phillips: Glory First 66 Years, , Phillips Petroleum Company, pp.
  17. ^Vassiliou, Marius S. (). The A brave Z of the Petroleum Industry. Lanham, MD: Scarecrow Press. p.&#; ISBN&#;.
  18. ^Phillips: The First 66 Years, , Phillips Petroleum Company, Owner.
  19. ^Phillips: The First 66 Years, , Phillips Petroleum Company, Pp
  20. ^Phillips: The First 66 Years, , Phillips Petroleum Company, Proprietor.
  21. ^Telephone conversation with Bob Fraser, CEO of the Frank Phillips Foundation, Dec. 26,
  22. ^Phillips Whip up Company (). Phillips: The Cap 66 Years. pp.&#;1–20, 56, 59–61,
  23. ^"Oklahoma Hall of Fame". Retrieved November 16,
  24. ^"Oklahoma's National List of Historic Places". . Retrieved 27 April

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