Henry L. Doherty
American businessman
Also known as: Henry Latham Doherty
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- :
- May 15, 1870, Columbus, Ohio, U.S.
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- December 26, 1939, Philadelphia, Pennsylvania
- Also Known As:
- Henry Latham Doherty
Henry L. Dohertywas an American businessman and utilities expert who formed the holding company Cities Service Company in 1910.
Dohertyâs first job came at age 12 with the Columbus Gas Co. in Ohio. By the time he was 20, he had become chief engineer. Because of his knowledge of gas operations, Doherty was next hired by Emerson McMillin & Co., a financial institution with utility holdings. Capitalizing on his business knowledge, Doherty started his own firm, Henry L. Doherty & Co., in 1905, providing technical and financial consultants to utilities. Within five years he had begun Cities Service Company, which served as a holding company for the utility firms that Doherty had purchased. The company had interests in all three energy sources available at the timeâpetroleum, natural gas, and electricity.
Dohertyâs influence on the firm was widespread. He understood the technical aspects of energy production and held almost 140 individual patents. His real fame, however, was gained through his deft manipulations of finances. The Cities Service name was changed to CITGO in 1965. In succeeding years CITGO was acquired by Occidental Petroleum (1983), the Southland Corporation (also in 1983), and PetrĂłleos de Venezuela, S.A. (1990).
