CHARLENE CELINO ABM J- M208

John D. Rockefeller (1839-1937), American industrialist. Rockefeller was

born in Richford, New York, on July 8, 1839, and educated in the public
schools of Cleveland, Ohio. He became a bookkeeper in Cleveland at the age
of 16. In 1862 he went into business with entrepreneur Henry Flagler and
with Samuel Andrews, the inventor of an inexpensive process for the
refinement of crude petroleum. In 1870 their firm, Rockefeller, Andrews &
Flagler, changed its name to the Standard Oil Company, often referred to as
the Standard Oil Company of Ohio. Rockefeller, his brother William, Andrews,
and Flagler ran the business.

In early 1872 Rockefeller helped form the South Improvement

Company, an association that unified many oil refiners in Cleveland with the
Standard Oil Company. Since Standard Oil used railroads daily to transport
huge amounts of cargo, Rockefeller was able to make a deal with railroad
conductors that would profit both industries. Railroad companies decided to
set high freight rates but agreed to award substantial rebates for members of
the South Improvement Company. This plan prevented price wars among
railroad companies and forced smaller oil refiners to go out of business if
they didnt join the association. After three months of much public protest,
the railroad companies and Rockefellers group cancelled their deal.
However, most of Rockefeller's competitors in Cleveland had already been
forced to sell out to the Standard Oil Company. By 1878 Standard Oil also
owned the major refineries in New York City; Pittsburgh, Pennsylvania; and
Philadelphia, Pennsylvania.

In 1882 Rockefeller and his partners formed the first corporate trust,
Standard Oil Trust, to merge many oil businesses throughout the United
States into a single company. Rockefeller soon controlled 90 percent of the
oil refineries in the country. Journalists, small oil refiners, and many others
heavily criticized Standard Oil for monopolizing the industry. In 1892 the Ohio
Supreme Court ordered the Standard Oil Company of Ohio to separate from
the trust and become an independent business. As a result, the trust
dissolved and Rockefeller and his associates reorganized and consolidated
the Standard Oil conglomerate into 20 businesses.

After the reorganization, Standard Oil Company of New Jersey, which

was founded as part of the trust in 1882, became the largest Standard Oil

Corporation. In 1892 it was renamed Standard Oil Company (New Jersey),

often referred to as Jersey Standard. Jersey Standard became the sole
holding company for all of Standard Oil in 1899. However, in 1911 the
Supreme Court of the United States ruled that Standard Oil had continued to
act as a monopoly. The Courts antitrust ruling forced all of the Standard Oil
companies to become independent businesses. That year Rockefeller, at age
72, retired as president of Standard Oil.

At its peak, Rockefeller's personal fortune was estimated at almost $1

billion. The total amount of his philanthropic contributions was about $550
million; about 80 percent of these funds were given to four charitable
organizations founded by Rockefeller. These were the Rockefeller Foundation;
the General Education Board; the Rockefeller Institute for Medical Research
(now Rockefeller University); and the Laura Spelman Rockefeller Memorial,
established in 1918 and incorporated into the Rockefeller Foundation in
1929. Rockefeller died at Ormond Beach, Florida, on May 23, 1937.

Redmond, WA 1991 John D. Rockefeller

CHARLENE CELINO ABM J- M208

JOHN DAVISON ROCKEFELLERS MONOPOLY

I. John D. Rockefeller adheres to commercial industry.

A. Rockefeller primarily recorded financial transactions before commencing

business. B. A collaboration between Flagler and Andrews instigated
Rockefeller to develop Standard Oil Company.

II. Rockefeller helped establish an association that unified many oil refiners in
Cleveland with the Standard Oil Company.

A. Rockefeller and integrated railroad companies conceives beneficial deal

for both industry, B. Public protests against Standard Oil Company due to
price wars among railroad companies. C. Rockefeller terminates agreement
with railroad groups.

III. Rockefeller sets up first corporate trust with business partners.

A. Standard Oil Trust merges many oil businesses throughout the United
States into a single company. B. Rockefeller dominates ninety per cent of oil
refineries in the United States. C. Ohio Supreme Court orders Standard Oil
Company to separate from trust and turn independent. D. Rockefeller
reorganizes and consolidates conglomerate.

IV. Standard Oil Company of New Jersey operates as largest Standard Oil
Corporation.

A. Supreme Court of the United States ruled out Standard Oil Company to
function independent. B. Rockefeller retires as president of Standard Oil
Company.

V. Rockefeller contributes to foundations as means of charity.

CHARLENE CELINO ABM J-M208

THE GREAT STATE AND MONOPOLY

An invaluably deemed industrialist and philanthropist once set out for glory
in Ohio with irrefutable words, If you want to succeed, you should strike out

on new paths rather than travel the worn paths of accepted success. He
was a young bookkeeper in Cleveland before he had held business with
entrepreneur Henry Flagler and Samuel Andrews to establish the Standard
Oil Company of Ohio which subsequently grew to prodigious power. John
Davison Rockefeller was a person of dignified might as he helped form an
association that unified many oil refineries in Cleveland with vital aid from
railroad companies. The latter matter, however, forced public outcry that
drove to its withdrawal. Rockefellers association, furthermore, continued to
expand wider horizons due to their competitors trade and ousted as a major
refinery with which other oil groups adhered to. After controlling 90 per cent
of oil refineries throughout the United States, Rockefellers Standard Oil was
heavily decried twice for monopolizing the industry. Consequently,
Rockefeller retired as president of Standard Oil Company right after the
Supreme Court of the United States ruled the organization to become
independent. He led on with great commercial success with words so
precious, Good management consists in showing average people how to do
the work of superior people.