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The United States of America was born out of the yearning of the many people who had traveled there from the old world of Europe to be free of the imperial p...
- 90 min
- 3M
- WarsofTheWorld
Explore the pivotal moments that shaped the American Civil War. From major battles like Gettysburg and Antietam to key decisions by Lincoln and Lee, this vid...
Civil War begins. Rockefeller, like some other northern businessmen, hires substitutes to avoid fighting. ... The institute, called Rockefeller University today, will become a leader in the new ...
- American Experience
- Business Profits and The Civil War
- Rockefeller's Investment in The Oil Wells of Pennsylvania
- Cleveland Becomes A Center of Oil Refining
- A Disagreement on Business Strategy: Rockefeller and Maurice Clark
- Rockefeller Hires A Substitute Draftee in The Civil War
- Rockefeller Takes Control of His Firm
Rockefeller's shipping business prospered mightily as the Civil War progressed. The first casualty of the war had been the bountiful trade of the Mississippi River. This drove Mark Twain to Nevada, and it drove the shipment of Midwestern crops to the east, directly through Cleveland. At the same time government contracts for food, clothes, and guns...
By the mid 1850s, the golden age of whaling had eclipsed. The oil that this industry produced increased in price, increasing the cost of illumination. To the extent that industries needed lubrication, they too were hamstrung. It was in response to this that a group of New Englanders dispatched Colonel Edmund Drake to some oil deposits near Titusvil...
Since there was no way of knowing how much oil was in the ground, most drillers and refiners treated the business as a transient phenomenon. Those who made money pocketed that money -- few tried to invest for the long-term. In the first days of the boom, anyone who wasn't on the battlefields could make good money with a fly-by-night refinery, while...
Rockefeller wanted to bring order and a long-term outlookto this business, including the use of leverage to expand his operations. His partner at the time, Maurice Clark, preferred to operate on a cash-only basis and pocket the short term profits. Clark was one of those who saw the oil fields as a short-term windfall -- not something worth taking a...
Also in 1863, the United States instituted a draft, hoping to shift the balance of a deadlocked war. The criteria for eligibility was wide, but there was a key exemption. It was possible to pay a "substitute"to report in one's place. Rockefeller took advantage of this and hired an unknown person to serve in his place for the remainder of the war. T...
By the start 1865, Rockefeller had the financial support and savings that he needed to buy his main partner out (Samuel Andrews would keep his small share). His intentions, carefully kept secret for two years, were now brought out into the open. At an opportune moment in the midst of a loud argument, Rockefeller suggested that they terminate the pa...
Apr 25, 2023 · Less than a century after gaining independence from Great Britain, the United States of America would be wracked by a Civil War as the secessionist Confedera...
- 55 min
- 870.3K
- Timeline - World History Documentaries
At the end of the first year of business, they had grossed $450,000, making a profit of $4,400 in 1860 and a profit of $17,000 in 1861. The commission merchant business was very competitive and Clark & Rockefeller's success was due in large part to Rockefeller's natural business abilities. During the Civil War their business expanded rapidly.
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John D. Rockefeller, Sr. Rockefeller Archive Center. John D. Rockefeller was born July 8, 1839, in Richford, New York, about midway between Binghamton and Ithaca. His father, William Avery ...
