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Louis Severance
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Louis Severance
Louis Henry Severance (August 1, 1838 – June 25, 1913) was an American oilman and philanthropist who was a founding member of the Standard Oil Trust, the first treasurer of Standard Oil, and a sulfur magnate.
Severance was born in Cleveland on August 1, 1838. He was the second son of Mary Helen (née Long) Severance (1816–1902) and Solomon Lewis Severance (1812–1838), who died in July 1838, a month before his birth. He and his older brother Solon were raised by his widowed mother, in the Cleveland home of their maternal grandparents, Juliana (née Walworth) Long and Dr. David Long, who was Cleveland's first physician.
Severance picked up his mother's commitment to the Presbyterian mission and the anti-slavery cause. His father had been one of Cleveland's dry goods merchants who went into partnership as Cutter & Severance. Solomon was also the secretary of the Cleveland Anti-Slavery Society, and treasurer of the Cuyahoga County Anti-Slavery society.
He attended public schools in Cleveland before entering the workforce at age eighteen.
In 1856, Severance joined the Commercial National Bank. In 1863, Severance became a 100-day Union army volunteer, in the defense of Washington D.C. during the U.S. Civil War.
His bank lent to John D. Rockefeller's oil business, and, in 1864, Severance started an oil exploration, and refinery business himself, in the oil boom town of Titusville, Pennsylvania. In 1872, after the stillborn birth of his fourth child, he returned to Cleveland, where the children's uncle, Solon, raised them with his own three children. Severance later supported his nephew, Allen; funding his lifelong study of theology.
By 1876, Rockefeller's Standard Oil had a near industry monopoly and Severance joined as the Ohio company's treasurer. While at Standard, he founded another company, mining sulfur, and because it held the patent on the Frasch process it too monopolized a profitable industry.
In 1894, by then a very wealthy man, Severance retired from active management of business. In his retirement, he was a leading sponsor of Ohio education, the YMCA, and overseas Presbyterian missions. He was a church elder and in 1904 the vice moderator of its General Assembly; he paid for chapels in Cleveland, as well as missions, colleges, and hospitals in Asia.
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Louis Severance
Louis Henry Severance (August 1, 1838 – June 25, 1913) was an American oilman and philanthropist who was a founding member of the Standard Oil Trust, the first treasurer of Standard Oil, and a sulfur magnate.
Severance was born in Cleveland on August 1, 1838. He was the second son of Mary Helen (née Long) Severance (1816–1902) and Solomon Lewis Severance (1812–1838), who died in July 1838, a month before his birth. He and his older brother Solon were raised by his widowed mother, in the Cleveland home of their maternal grandparents, Juliana (née Walworth) Long and Dr. David Long, who was Cleveland's first physician.
Severance picked up his mother's commitment to the Presbyterian mission and the anti-slavery cause. His father had been one of Cleveland's dry goods merchants who went into partnership as Cutter & Severance. Solomon was also the secretary of the Cleveland Anti-Slavery Society, and treasurer of the Cuyahoga County Anti-Slavery society.
He attended public schools in Cleveland before entering the workforce at age eighteen.
In 1856, Severance joined the Commercial National Bank. In 1863, Severance became a 100-day Union army volunteer, in the defense of Washington D.C. during the U.S. Civil War.
His bank lent to John D. Rockefeller's oil business, and, in 1864, Severance started an oil exploration, and refinery business himself, in the oil boom town of Titusville, Pennsylvania. In 1872, after the stillborn birth of his fourth child, he returned to Cleveland, where the children's uncle, Solon, raised them with his own three children. Severance later supported his nephew, Allen; funding his lifelong study of theology.
By 1876, Rockefeller's Standard Oil had a near industry monopoly and Severance joined as the Ohio company's treasurer. While at Standard, he founded another company, mining sulfur, and because it held the patent on the Frasch process it too monopolized a profitable industry.
In 1894, by then a very wealthy man, Severance retired from active management of business. In his retirement, he was a leading sponsor of Ohio education, the YMCA, and overseas Presbyterian missions. He was a church elder and in 1904 the vice moderator of its General Assembly; he paid for chapels in Cleveland, as well as missions, colleges, and hospitals in Asia.
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