When the Standard Oil Trust was formed in 1882, it produced most of the world's lamp kerosene, owned 4,000 miles of pipelines, and employed 100,000 workers. Rockefeller often paid above-average wages to his employees, but he strongly opposed any attempt by them to join labor unions. Standard Oil Company was founded by John D. Rockefeller in Cleveland, Ohio in 1870, and, in just a little over a decade, it had attained control of nearly all the oil refineries in the U.S. This dominance of oil, together with its tentacles entwined deep into the railroads, oil companies has been around for at least one hundred years before John Rockefeller established the Standard Oil Trust Company. Just like any new business founded, Rockefeller thought it was a new investement with the steel company becoming one of the dominant industry in the world, due to railroads, train, Standard Oil of New Jersey (SONJ) - or Esso (S.O.) – renamed Exxon, now part of ExxonMobil. Standard Trust companies Carter Oil, Imperial Oil (Canada), and Standard of Louisiana were kept as part of Standard Oil of New Jersey after the breakup. Standard Oil of New York – or Socony, merged with Vacuum – renamed Mobil, now part of ExxonMobil. In 1870, Rockefeller formed the Standard Oil Company of Ohio, along with his younger brother William (1841-1922), Henry Flagler (1830-1913) and a group of other men. When the Standard Oil Trust was formed in 1882, it produced most of the world's lamp kerosene, owned 4,000 miles of pipelines, and employed 100,000 workers. Rockefeller often paid above-average wages to his employees, but he strongly opposed any attempt by them to join labor unions. Starting with the partnership of Rockefeller, Andrews & Flagler, formed in 1867, in 1870 these interests took the corporate form of the Standard Oil Company of Ohio, with a capitalization of $1,-000,000. At that time they controlled not over 10 per cent of the refining business of the country.
The Standard Oil Trust was formed by Rockefeller in 1882 to oversee his vast business empire. In 1892, Ohio's Supreme Court ordered it dissolved, citing the 25 Sep 2007 feller family and other Standard Oil families have utilized to retain control of the various companies created out of the original Standard Oil trust,
John D. Rockefeller founded the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Later in life he turned his attention to charity. He made possible the founding of the University of Chicago and endowed major philanthropic institutions. Largest unit in the American oil industry in 1881. Known as A.D. Trust, it was outlawed by the Supreme Court of Ohio in 1899. Replaced by the Standard Oil Company of New Jersey., John D. Rockefeller's comapny, formed in 1870, which came to symbolize the trusts and monopolies of the Gilded age. By 1877 it controlled 95% of the oil refineries in
The companies that comprised the trust later joined in the formation of the Standard Oil Company (New Jersey), since New Jersey had adopted a law that
In 1871 Rockefeller and business associates created the South Improvement By 1882 the company formed the Standard Oil Trust, a new innovation in The companies that comprised the trust later joined in the formation of the Standard Oil Company (New Jersey), since New Jersey had adopted a law that In 1887, several small oil companies banded together to form The Ohio Oil Company. From this John D. Rockefeller's Standard Oil purchased Ohio Oil. "Trust-busting" critics accused Standard Oil of using aggressive pricing to destroy competitors and form a monopoly that Through this strategy Rockefeller formed alliances with competitors in the oil He created the "trust" which allowed stockholders of other companies to give A look at the formation and early beginnings of Standard Oil. the Standard Oil Trust controversy in this the 100th anniversary of the breakup of the Trust.