PRATT, Charles, American philanthropist: b. Watertown, Mass., 2 Oct. 1830; d. New Yorlc, 4 May 1891. He obtained a portion of his education at Wesleyan Academy, Wilbraham, Mass., after having saved the money needed by working as a machinist, and in 1851 re moved to New York where he engaged with a paint and oil firm, of which he became a mem ber in 1854. When the firm dissolved in 1867 he retained the oil interests and under the firm name Charles Pratt and Company organ ized a most successful business. He grasped the possibilities of the petroleum trade when the oil fields of Philadelphia were being de veloped in 1860 and devoted himself to pro ducing the best quality of refined petroleum on the market, Pratt's astral oil becoming world-famous. He acquired an enormous for tune and in 1874 his business was merged in the Standard Oil Company, with which con cern he was, therefore, affiliated almost from its beginning and in the prosperity of which he shared to a very considerable extent. He after
ward devoted himself to philanthropic enter prises and contributed generously to various religious, charitable and educational causes. His greatest philanthropic work was the founding of the famous Pratt Institute (q.v.) in 1886, in which he embodied his ideas of a thorough and practical education. It was opened in 1887 with 12 students, a number which at the time of his death had increased to over 3,000. The entire cost of the buildings, equipment, grounds and ample endowment was borne by Mr. Pratt and at his death he left a further endowment of $2,000,000. He was public-spirited in every way but firmly declined public office.