John d rockefeller

John d rockefeller facts

He avoided speculation and refused to make advances or loans. This immediately gave Cleveland a transportation advantage over Pittsburgh, which was dominated by the Pennsylvania Railroad. He complained that he could not stay asleep most nights. Concerned about the corrupting influence of wealth on his family, Junior was a very severe father. The leaders of the Standard were so successful in this secrecy at times that many rival independent refiners were totally unaware of what was going on. They began by buying up all their competitors in Cleveland. Rockefeller retained his nominal title as president until and he kept his stock. After four years of vacillations and self-doubt, Junior finally proposed. He eagerly crushed his competitors, ruining hundreds in his pursuit of profit. Living in his father's mansion at 4 West 54th Street , he attended Park Avenue Baptist Church at 64th Street now Central Presbyterian Church and the Browning School , a tutorial establishment set up for him and other children of associates of the family; it was located in a brownstone owned by the Rockefellers, on West 55th Street. It acquired pipelines and terminal facilities, purchased competing refineries in other cities, and vigorously sought to expand its markets in the United States and abroad. That fact enabled the company to negotiate with railroads for favoured rates on its shipments of oil. The largest segment was reorganized in as a holding company under the name of the Standard Oil Company of New Jersey , but was dissolved following a U.

Rockefeller's operative, Lamont Montgomery Bowers, [93] remained in the background. Congress took notice of Standard and its seemingly unstoppable march. The field had been discovered in the early s. Congress passed the Sherman Antitrust Act, the first federal legislation prohibiting trusts and combinations that restrained trade.

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Bythe Standard Oil Company did about 90 percent of the refining in the United States, with almost 70 percent being exported overseas. They owned their own drayage service, consisting of at least 20 wagons in In Rockefeller sold his iron ore-related business to J.

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Archbold disliked prominence and asked Rockefeller to remain as the nominal president of Standard. Goodwin escorted him — along with his wife Abby, and their sons, David, Laurance, and Winthrop — on a quick tour of the city. It acquired pipelines and terminal facilities, purchased competing refineries in other cities, and vigorously sought to expand its markets in the United States and abroad.

His father was very meticulous in matters of business and believed in the sacredness of contracts.

John d rockefeller

Rockefeller was born in Richford, New Yorkthen part of the Burned-over district —a New York state area being the site of an evangelical revival known as the Second Great Awakening ; it drew masses to various Protestant churches—especially Baptist ones—urging believers to follow such ideals as hard work, prayer and good deeds to build "the Kingdom of God on Earth.

The railroad situation benefited not only Rockefeller and Flagler; other Cleveland refiners also benefited at the expense of the refiners in Pittsburgh.

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Steel company, which had been formed in Likewise, it became one of the largest shippers of oil and kerosene in the country. Then he took a ten-week business course at Folsom's Commercial College , where he studied bookkeeping. Youth John D. In , Jabez A. Ohio was especially vigorous in applying its state antitrust laws, and finally forced a separation of Standard Oil of Ohio from the rest of the company in , the first step in the dissolution of the trust. In his view, the theory of free competition did not work well when there was a mix of very large, efficient firms and many medium and small firms. By , the Standard Oil Company did about 90 percent of the refining in the United States, with almost 70 percent being exported overseas. The field had been discovered in the early s. Cleveland was not a large city in and Rockefeller could easily visit every business in under a week's time.

He had iron nerves and would carry through very complicated deals without hesitation.

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John D. Rockefeller