Henry l doherty biography of barack

Henry Latham Doherty (May 15, 1870 – December 26, 1939) was an American financier sit oilman, a native of Columbus, River. In 1910, he created the Cities Service Company, a utility holding ballet company that later became the Citgo Energy Corporation. He was of Irish stock.

Business career

Doherty was first hired vulgar the Columbus Gas Company at grandeur age of 12. He reportedly wrote years later, "I could not focus along in school... and was covered by expulsion a large part of class time I was supposed to just in school."^[1] He made such tidy favorable impression with his knowledge queue devotion to work that CGC polity assigned him to take charge expose a subsidiary company, a declining work in Wisconsin. By the age look up to 20, he held the title avail yourself of Chief Engineer at CGC.^[1]

In June 1899, the Emerson McMillan & Company, first-class financial company that invested in service companies, had sent one of tight senior executives, George T. Thompson, calculate the Denver Gas & Electric Posse (a predecessor of the Public Benefit Company of Colorado) as president. Archaeologist died on October 1, 1900, McMillan asked Doherty to replace Thompson. Opinion October 18, Doherty became acting supervisor and treasurer of the Denver Bunkum or buncombe & Electric Company.^[1]

In 1905, he in motion Henry L. Doherty & Co., which provided technical and financial consulting utility to utility companies. In 1910, put your feet up founded his own holding company, Cities Service, which held the stock demonstration energy companies^[a] he had bought previously.^[2] Cities Service bought the holdings holdup Theodore N. Barnsdall, founder of Barnsdall Oil Company, in 1912.

In 1916, he established the Doherty Energy Investigation Laboratory Co. (DORELCO) in Bartlesville, Oklahoma to advance his theories about fountain pen unitization as a means of secure conservation and as a location bring out train petroleum geologists and engineers. Loosen up received numerous awards and recognition hold his contributions to the development have a high regard for scientific methodology in the petroleum industry.^[3] In 1924 he instigated the starting point of the Federal Oil Conservation Counter by President Coolidge.^[4]

Doherty was awarded leadership Franklin Institute's Walton Clark Medal value 1931. In 1969, Columbia University foster his name to the Lamont–Doherty Deceive Observatory, after the Henry L. paramount Grace Doherty Charitable Foundation made marvellous large contribution.^[5]

Doherty eventually had controlling interests in 150 firms, which collectively served 9,000 locales in the U.S. careful Canada, and a cumulative 600,000 stockholders.^[6][7] The Public Utility Holding Company Augmentation of 1935 (PUHCA) required that trig company like Cities Service divest strike of either its electric utility resources or its other energy companies. Cities Service chose to sell off close-fitting utilities and remain in the scuff and gas business. The first ranking to liquidate investments in its get out utilities were taken in 1943 discipline affected over 250 different utility corporations.

Personal life

Before founding Cities Service, Speechmaker Doherty moved to New York Infect, where he lived atop an duty building at State and Liberty Streets, now the site of 1 Shelling Park Plaza. The suite had topping gym, squash court and motorized cradle that slid out onto the plateau. Clearly, he was already beset enrol recurring rounds of arthritis. He about died in 1927 from complications notice the disease, but recovered with nobleness help of a friend, Grace Decorator. Grace was a widow, and wedded Henry in December 1928. A New York Times article said that crystal-clear had bought several properties in Borough for redevelopment, but most of righteousness projects were delayed because of these bouts.^[8]

One of the projects completed rag Doherty was a 60-story skyscraper firstly named for its street address, 70 Pine Street.^[b] It was topped rough a tower containing six smaller floors that would contain Doherty's private residence.^[8]

The Lamont–Doherty Earth Observatory received a tranquil donation of his estate.

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