John D. Rockefeller：Random Reminiscences of Men and Events, Additional Excerpt 133

Here is an example of one of the ways in which we achieved certain economies and gained real advantage. Fires are always to be reckoned with in oil refining and storage, as we learned by dear experience, but in having our plants distributed all over the country the unit of risk and possible loss was minimized. No one fire could ruin us, and we were able thus to establish a system of insuring ourselves. Our reserve fund which provided for this insurance could not be wiped out all at once, as might be the case with a concern having its plants together or near each other. Then we studied and perfected our organization to prevent fires, improving our appliances and plans year after year until the profit on this insurance feature became a very considerable item in the Standard earnings.

Source： https://www.gutenberg.org/ebooks/17090
Locator：Additional excerpt 133 · Verified：2026-10-19 · Verification：Short excerpt

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