I thought that I saw great opportunities in refining oil, and did not realize at that time that the whole oil industry would soon be swamped by so many men rushing into it.

But I was full of hope, and I had already arranged to get financial accommodation to an amount that I supposed would easily pay for the plant and good-will.

I was willing to give up the other firm of Clark & Rockefeller, and readily settled that later--my old partner, Mr.
Clark, taking over the business.
The bidding began, I think, at $500 premium.

I bid a thousand; they bid two thousand; and so on, little by little, the price went up.
Neither side was willing to stop bidding, and the amount gradually rose until it reached $50,000, which was much more than we supposed the concern to be worth.

Finally, it advanced to $60,000, and by slow stages to $70,000, and I almost feared for my ability to buy the business and have the money to pay for it.