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JOHN D. ROCKEFELLER
Transcript of JOHN D. ROCKEFELLER
Oil Refinery in Ohio, the first refinery to be taken over by John D. Rockefeller in the Cleveland Massacre. 1872. Photograph. Wikipedia, Cleveland, Ohio. Web. 20 Oct 2014. <http://uplohttp://en.wikipedia.org/wiki/Standard_Oil
John D. Rockefeller's Obituary. 1937. Photograph of New York Times Article. n.p. Web. 20 Oct 2014. <http://images.rarenewspapers.com/ebayimgs/5.43.2008/image034.jpg>.
Rockefeller's First Oil Refinery 1863. 1864. Photograph. American History USA.com, Ohio. Web. 20 Oct 2014. <http://www.americanhistoryusa.com/static/images/standard-oil-first-refinery.jpg>.
JOHN D. ROCKEFELLER
“He was a fine, gentle soul and a real christian.” Reverend Davis said about him
Died at 97 of sclerotic myocarditis (1839 - 1937)
Gave away almost $530,000,000 to religious institutions and charities before he died
described as a national tragedy
Death of John D. Rockefeller
Deal with Vanderbilt
Deal with Scott
Supreme Court Case against Standard Oil
Creates hundreds of thousands of jobs but also takes them away
Captain of Industry or Robber Baron?
First American Billionaire
Richest American of all time
Created the idea of a monopoly
Uses horizontal integration to get rid of all his competition
Most hated company in America, represents the evils of big businesses
Found ways to bribe and corrupt basically any company he wanted
His companies are still around today--> Exxon, Mobil, Chevron
Since he could supply a source of cheap gasoline he also helped usher in the age of automobiles.
His company was so huge it could control the US economy
First and Largest multinational Company
Built the longest pipeline of the time
Importance to the Gilded Age
JOHN D. ROCKEFELLER AND THE GILDED AGE
By Caitlynn Almy
Born 1839, grew up poor
Mother was very religious and hardworking
Father was a con-man, sold fake cures for cancer and other diseases.
Saved 50$ by the time he was 12, from working.
Loaned the money to a local farmer who paid him back 7% interest the next year.
"Don't be Afraid to give up the good to go for the great."
Standard Oil Company
Tons of civilians went into the oil refining business in the 1860’s and 70’s because it was cheap
Oil was in a huge surplus, three times the oil that was needed at the time.
Oil prices drop and Rockefeller buys them all up quickly, Offers them trusts in exchange
Standard Oil buys out 22 of 26 refinery competitors in a single month at a discount price.
Supreme Court Case
Finds a way around the Supreme Court Ruling
Holders of stock in the oil companies handed over their shares to Rockefeller
His associates acted as a board of trustees
In return, the oil companies got trust certificates which brought them money but they didn't have any power
Quit high school after two years and found a job
Worked as a book keeper for Hewitt and Tuttle
started his own business as a merchant, selling grain and meat ect.
In 1863, he bought his first refinery
In his first year, his company made $450,000
Deals with the Railroads
Rockefeller convinces Vanderbilt to carry his oil on his trains, Becomes about 60% of cargo
Then Makes a deal with Scott (Vanderbilt's Rival) to carry his goods as well for a lower cost.
Takes all his goods off Vanderbuilt's trains, his train economy crashes.
Thousands of people are out of Jobs
Scott and Vanderbilt make a deal not to transport any of Rockefeller's oil until he pays regular price.
Standard Oil Company Logo that was first used in 1878 to represent the torch that lights America, Rockefeller's first selling point. The logo was attached to all of his products and became a nationally known symbol. By 1880, Rockefeller owns 90% of all oil refineries.
A political Cartoon of Cornelius Vanderbilt and his railroad company running out of steam and crashing. Symbolizing the effects of Rockefeller destroying Vanderbilt's legacy in the railroad business.
Obituary from NY Times in 1937. Takes up significant amount of front page, shows importance of Rockefeller. (10)
The game Monopoly is actually a spoof of Rockefeller and his accomplishments . It was designed to show the ruthlessness of Rockefeller's tactics and the brilliance behind his plan (9).
Picture of Rockefeller in his 40's. Appeared in Times Magazine in 1903. (1)
some speculation about bribery within the railroads and standard oil, ‘if you charge my competitors more, I will give you some of my oil to carry at a lower price’
Rockefeller owns Cleveland Refineries, extra special because RR and lake Erie can ship goods to east and Europe
"Biography of John D Rockefeller." History.com. N.p., 2014. Web. 16 Sept. 2014. <http://www.history.co.uk/biographies/john-d-rockefeller>.
Conway, Tyler, and Columbia Law. "The Cleveland Massacre." Ed. Eben Moglen. American Legal History. N.p., 3 Feb. 2013. Web. 16 Sept. 2014. <http://moglen.law.columbia.edu/twiki/bin/view/AmLegalHist/TylerConwayProject>.
"John D Rockefeller ." Times Magazine. People and Profiles. Published 1903. Web. 16 Sept. 2014. <http://cdn1.thefamouspeople.com/profiles/images/john-d-rockefeller-jr-.jpg>. (1)
"John D Rockefeller Bio." WGBH American Expirience. PBS, n.d. Web. 16 Sept. 2014. <http://www.pbs.org/wgbh/americanexperience/features/biography/rockefellers-john/>.
"Monopoly Guy." HASBRO Board Games. Web. 16 Sept. 2014. <http://www.cosplayisland.co.uk/files/costumes/96/30957/monopoly-guy.jpg>. (8)
"The New Tycoon" ["Robber Baron or Captain of Industry"]. US History.org. N.p., n.d. Web. 16 Sept. 2014. <http://www.ushistory.org/us/36b.asp>.
"Obituary of John D Rockefeller" ["http://www.nytimes.com/learning/general/onthisday/bday/0708.html"]. New York Times [New York City] 24 May 1937: n. pag. Print. (9)
The Rockefeller Archive Center. Rockefeller Family and Associates, 2014. Web. 16 Sept. 2014. <http://www.rockarch.org/bio/jdrsr.php>.
"Rockefeller King Cartoon." Occupied Tuscon Citizen. N.p., n.d. Web. 16 Sept. 2014. <http://occupiedtucsoncitizen.org/wp-content/uploads/2014/02/FEATURED_rockefeller.jpg>. (10)
"Rockefeller Quote- Give up the good for the great." Quotes.com. N.p., n.d. Web. 16 Sept. 2014.
http://www.micheloud.com/FXM/so/Pipeline%20sur%20une%20colline2.jpg (The Pipeline) (4)
Personal photograph by author. STandard OIl Political Cartoon of Takeover. 1884. By Herman Viola. United States History: Why we remember. Scott Foresman and Addison Wesley Publishing Company. (5)
Photograph of 17 year old Rockefeller. Taken by a local photographer in 1856.
"The impression was gaining ground with me that it was a good thing to let the money be my servant and not make myself a slave to the money…" (Rockefeller 1879).
Rockefeller's first oil refinery which he bought in the midst of the Civil War and invested every cent of his earnings into the company.
Political Cartoon of Standard Oil taking over small oil companies, refineries, savings banks, Gas companies, the Capital, boats, railroads and insurance companies. Shows his attempt to Vertically integrate after he successfully horizontally integrated. (5)
critics accused Standard Oil of lowering pricing to destroy competitors
consumers feared that once Rockefeller controlled the oil economy he would raise prices too high
Supreme Court rules that monopolies are illegal because it violates the Sherman Anti-trust Act
Standard Oil is forced to split up into 34 separate companies
The original ruling in the 1911 Supreme Court case of Rockefeller's monopoly. Describes Monopolies and how they threaten laissez-faire economy
Companies that Standard was split into.
This was a huge technological advancement, the pipeline which stretched over 2,000 miles. Rockefeller's ingenious innovation that allowed him to transport oil cheaply even when the railroads couldn't. (4).