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A biography of john davison rockefeller a united states industrialist

John Davison Rockefeller

Visit Website In 1855, at age 16, he found work as an office clerk at a Cleveland commission firm that bought, sold and shipped grain, coal and other commodities. In 1859, Rockefeller and a partner established their own commission firm.

The Rockefellers went on to have four daughters three of whom survived to adulthood and one son.

  1. Flagler and Stephen V.
  2. Jones, The Robber Barons Revisited 1968. Hewitt and Henry B.
  3. He envisioned a cooperative alliance of refiners, with a strong Standard Oil at the nucleus of the organization; such a combination of refiners, he believed, could effectively coordinate the industry to the mutual benefit of refiners, producers, and railroads.
  4. Clark did the fieldwork; Rockefeller controlled office management, bookkeeping, and relationships with bankers. Among the institute's many achievements were yellow fever research, discovery of serums to combat pneumonia, advances in experimental physiology and surgery, and work on infantile paralysis.

Standard Oil In 1865, Rockefeller borrowed money to buy out some of his partners and take control of the refinery, which had become the largest in Cleveland. Over the next few years, he acquired new partners and expanded his business interests in the growing oil industry.

  • Between 1867 and 1870, as increasing crude production drove down oil prices and as the railroads engaged in periodic rate wars, Flagler negotiated with the competing railroads to secure lower freight rates for his firm;
  • In 1877 Rockefeller and the Standard defeated a major challenge to its growing power;
  • His recreations included driving and racing his horses, winter sleighing, ice skating, and later, bicycling;
  • Rockefeller and John D.

At the time, kerosene, derived from petroleum and used in lamps, was becoming an economic staple. In 1870, Rockefeller formed the Standard Oil Company of Ohio, along with his younger brother William 1841-1922Henry Flagler 1830-1913 and a group of other men.

John Rockefeller was its president and largest shareholder. Standard Oil gained a monopoly in the oil industry by buying rival refineries and developing companies for distributing and marketing its products around the globe.

In order to exploit economies of scale, Standard Oil did everything from build its own oil barrels to employ scientists to figure out new uses for petroleum by-products. As The New York Times reported in 1937: Congress passed the Sherman Antitrust Act, the first federal legislation prohibiting trusts and combinations that restrained trade.

Two years later, the Ohio Supreme Court dissolved the Standard Oil Trust; however, the businesses within the trust soon became part of Standard Oil of New Jerseywhich functioned as a holding company.

John D. Rockefeller

In 1911, after years of litigation, the U. Supreme Court ruled Standard Oil of New Jersey was in violation of anti-trust laws and forced it to dismantle it was broken up into more than 30 individual companies.

Philanthropy and Final Years Rockefeller retired from day-to-day business operations of Standard Oil in the mid-1890s. Inspired in part by fellow Gilded Age tycoon Andrew Carnegie 1835-1919who made a vast fortune in the steel industry then became a philanthropist and gave away the bulk of his money, Rockefeller donated more than half a billion dollars to various educational, religious and scientific causes.

  • Conspiring with refinery owners, he helped found what became known as the Standard Oil monopoly;
  • In order to exploit economies of scale, Standard Oil did everything from build its own oil barrels to employ scientists to figure out new uses for petroleum by-products.

Among his activities, he funded the establishment of the University of Chicago and the Rockefeller Institute for Medical Research now Rockefeller University. In his personal life, Rockefeller was devoutly religious, a temperance advocate and an avid golfer.

  1. Over the next few years, he acquired new partners and expanded his business interests in the growing oil industry.
  2. His mother, a straitlaced puritanical woman, brought up her large family very strictly.
  3. The chief bottleneck was the transporting of the oil.

His goal was to reach the age of 100; however, he died at 97 on May 23, 1937, at The Casements, his winter home in Ormond Beach, Florida. He was buried at Lake View Cemetery in Cleveland.