The Octopus Comes to Seattle: Standard Oil Raises the Price of Light
Coal oil and benzine prices jumped in Seattle after Standard Oil was reported to have crushed its last Pacific Coast rival, W. P. Fuller & Co.
Coal oil advanced a cent per gallon in the Seattle market last Saturday and has a still further upward tendency. The rise in price is undoubtedly owing to the report that the Standard Oil Company has, after a stubborn war for years, secured a monopoly in the sale of coal oil, gasoline and kindred products on the Pacific coast.
The fight has been between the Standard Oil Company and W. P. Fuller & Co., both with headquarters at San Francisco. The octopus, as the Standard Oil Company is called, worked its scheme of freeze-out in an 'oily' manner. It steadily reduced prices, forcing Fuller & Co. closer to the wall. The latter firm was particularly at a disadvantage, as it has been compelled to buy its oils and gasoline from the Standard Company, which then fixed the price. As the latter company reduced its price Fuller & Co. lost their profits, and every merchant on the coast knew that a war was imminent. These little fights kept up with great regularity, and the reported swallowing up of the Fuller Company by the octopus is the outcome. Another immediate effect of the monopoly is a startling increase in the price of benzine, which has been advanced 2 cents a gallon.
“The octopus, as the Standard Oil Company is called, worked its scheme of freeze-out in an 'oily' manner.”
A century before antitrust cases against Big Tech, Seattle readers watched a national monopoly swallow a rival and raise local prices. The story's language—'octopus,' 'freeze-out,' 'the Standard rules the roost'—is a reminder that monopoly power has long been felt at the kitchen table.
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