These men had adopted a new and secretive method of combining their increasing possessions into a single ownership.

In 1873 the Standard Company had increased its capital stock (originally $1,000,000) to $3,500,000, the new certificates being exchanged for interests in the great New York and Philadelphia refineries The Standard Oil Company of Ohio never had a larger capital stock than that.

As additional properties were acquired, the interests were placed in the hands of trustees, who held them for the joint benefit of the stockholders in the original company.

In 1882 this idea was carried further, for then the Standard Oil Trust was organized.

The fact that the properties lay in so many different States, many of which had laws intended to curb corporations, was evidently what led to this form of consolidation.