Rockefeller
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Rockefeller and the oil Industry
02/09/2010
Rockefeller and the Oil Industry
John Davidson Rockefeller was in the business of the oil industry in the late 1800s; and 1900s. His business and wealth grew to dominate the oil industry. Spartacus (n.d) explains Rockefeller as “Rockefeller’s personal life was a model of Victorian decorum: he did not smoke, drink, or flaunt his wealth. His life revolved around his family, the Baptist church, and philanthropic activities.” However, Rockefeller endured much controversy and opposition because of his business practices.
Rockefeller
He was born in 1839 in Richford, New York. He was the second child of six in his family. His family moved to Moravia and later to Owego, New York before moving to Ohio in 1853. His family lived in Strongsville, near Cleveland where he attended high school at Cleveland Central High School. Rockefeller began working by the age of 16; he was a clerk in a commission house.
Eventually he went into business with Maurice Clark; the company was called Clark and Rockefeller Produce and Commission. The company sold farm implements, fertilizers, and household products. The company was successful; however did not bring Rockefeller the wealth he desired. He sold his business and invested in Standard Oil with Samuel Andrews. Eventually Rockefeller bought out his partner Samuel Andrews. Rockefeller was facing issues with the cost of transporting his oil to Cleveland and New York refineries.
Rockefeller was able to manipulate two large railroads passing through Cleveland to compete for his large business of transporting oil; he threatened the railroads that his business would go to the railroad with the lowest cost. Rockefeller convinced the railroads to lower the price of transporting his oil to gain his large amount of business. He guaranteed 60 cart...
02/09/2010
Rockefeller and the Oil Industry
John Davidson Rockefeller was in the business of the oil industry in the late 1800s; and 1900s. His business and wealth grew to dominate the oil industry. Spartacus (n.d) explains Rockefeller as “Rockefeller’s personal life was a model of Victorian decorum: he did not smoke, drink, or flaunt his wealth. His life revolved around his family, the Baptist church, and philanthropic activities.” However, Rockefeller endured much controversy and opposition because of his business practices.
Rockefeller
He was born in 1839 in Richford, New York. He was the second child of six in his family. His family moved to Moravia and later to Owego, New York before moving to Ohio in 1853. His family lived in Strongsville, near Cleveland where he attended high school at Cleveland Central High School. Rockefeller began working by the age of 16; he was a clerk in a commission house.
Eventually he went into business with Maurice Clark; the company was called Clark and Rockefeller Produce and Commission. The company sold farm implements, fertilizers, and household products. The company was successful; however did not bring Rockefeller the wealth he desired. He sold his business and invested in Standard Oil with Samuel Andrews. Eventually Rockefeller bought out his partner Samuel Andrews. Rockefeller was facing issues with the cost of transporting his oil to Cleveland and New York refineries.
Rockefeller was able to manipulate two large railroads passing through Cleveland to compete for his large business of transporting oil; he threatened the railroads that his business would go to the railroad with the lowest cost. Rockefeller convinced the railroads to lower the price of transporting his oil to gain his large amount of business. He guaranteed 60 cart...