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Dec 3, 2016 · The Rise and Fall of Rockefeller. The story of John D. Rockefeller and the Standard Oil trust is one of the most controversial in business history. Book Review. John Rockefeller. Monopoly. Oil. Price. Emil Duhnea. A little over a century ago, the United States found themselves in the grip of a vicious monopoly that not only controlled the ...
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John Davison Rockefeller is born in Richford, New York, the second of six children. His father, William (“Big Bill”) Avery Rockefeller, is a traveling physician and snake-oil salesman, meaning a person who sells fraudulent cures for health ailments. The family later moves to Oswego, New York, followed by a move to Ohio, where Rockefeller attends Cl...
After dropping out of high school, taking one business class at Folsom Mercantile College, and working as a bookkeeper, Rockefeller establishes his first business, which supplies goods such as hay, grain, and meats.
Rockefeller builds his first oil refinery, near Cleveland. Within two years it is the largest refinery in the area.
Rockefeller and a few associates, a group that includes American financier Henry M. Flagler, incorporate the Standard Oil Company (Ohio). Because of Rockefeller’s emphasis on economical operations, Standard prospers and begins to buy out its competitors until, by 1872, it controls nearly all the refineries in Cleveland.
Rockefeller and his associates place the stock of Standard of Ohio and its affiliates in other states under the control of a board of trustees, with Rockefeller at the head. They thus establish the first major U.S. “trust,” a type of business monopoly. By 1882 Standard Oil has a near monopoly on the oil business in the United States.
The U.S. Congress passes the Sherman Antitrust Act, hoping to combat monopolies such as Standard Oil.
The Ohio Supreme Court rules that the Standard Oil Trust is a monopoly, which violates state antitrust law. Rockefeller sidesteps the decision by dissolving the trust and transferring its properties to companies in other states.
Rockefeller focuses hereafter on philanthropy, creating educational and charitable institutions.
The companies that once made up the Standard Oil Trust are brought back together in a holding company, Standard Oil Company (New Jersey).
Rockefeller finally gave up his dream of controlling all the world's oil refining; he admitted later, "We realized that public sentiment would be against us if we actually refined all the oil." [ 77 ] Over time, foreign competition and new finds abroad eroded his dominance.
John D. Rockefeller was born on July 8, 1839, on farm in Richford, New York, the second of the six children of William A. and Eliza Davison Rockefeller. The family lived in modest circumstances. When he was a boy, his family moved often, arriving in Ohio in 1853. JDR attended Central High School in Cleveland and joined the Erie Street Baptist ...
Apr 2, 2014 · Name: John Davison Rockefeller. Birth Year: 1839. Birth date: July 8, 1839. Birth State: New York. Birth City: Richford. Birth Country: United States. Gender: Male. Best Known For: John D ...
Oct 19, 2016 · There was little in Rockefeller’s upbringing that would portend his meteoric rise. He was born in a clapboard house in New York in 1839. His mother was a solid, religious woman, but his father, William Avery Rockefeller, was essentially a snake oil salesman, who was gone from home for weeks and sometimes months at a time, selling his “botanical” cures and living as a secret bigamist with ...
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Nelson Rockefeller, son of John Jr., was a New York governor (1959–73) and served as the 41st vice president of the United States (1974–77). List of some of the significant achievements of John D. Rockefeller, from his establishing the first major U.S. business trust, the Standard Oil Company, to his many philanthropic activities, including ...
