Visit Website Inat age 16, he found work as an office clerk at a Cleveland commission firm that bought, sold and shipped grain, coal and other commodities. InRockefeller and a partner established their own commission firm.
Printer-Friendly Version John Davison Rockefeller July 8, - May 23, was the guiding force behind the creation and development of the Standard Oil Company, which grew to dominate the oil industry and became one of the first big trusts in the United States, thus engendering much controversy and opposition regarding its business practices and form of organization.
Rockefeller also was one of the first major philanthropists in the U. The family lived in modest circumstances. When he was a boy, the family moved to Moravia and later to Owego, New York, before going west to Ohio in Active in its affairs, he became a trustee of the church at the age of He left high school in to take a business course at Folsom Mercantile College.
A few months later he became the cashier and bookkeeper. In that same year the first oil well was drilled at Titusville in western Pennsylvania, giving rise to the petroleum industry.
Cleveland soon became a major refining center of the booming new industry, and in Rockefeller and Clark entered the oil business as refiners.
The firm also continued in the commission business but in the partners, now five in number, disagreed about the management of their business affairs and decided to sell the refinery to whoever amongst them bid the highest.
By Standard Oil had purchased and thus controlled nearly all the refining firms in Cleveland, plus two refineries in the New York City area.
Before long the company was refining 29, barrels of crude oil a day and had its own cooper shop manufacturing wooden barrels. The company also had storage tanks with a capacity of several hundred thousand barrels of oil, warehouses for refined oil, and plants for the manufacture of paints and glue.
Standard prospered and, inall its properties were merged in the Standard Oil Trust, which was in effect one great company. There were originally forty-two certificate holders, or owners, in the trust. After ten years the trust was dissolved by a court decision in Ohio. The companies that had made up the trust later joined in the formation of the Standard Oil Company New Jerseysince New Jersey had adopted a law that permitted a parent company to own the stock of other companies.
It is estimated that Standard Oil owned three-fourths of the petroleum business in the U. In addition to being the head of Standard, Rockefeller owned iron mines and timberland and invested in numerous companies in manufacturing, transportation, and other industries.
Although he held the title of president of Standard Oil untilRockefeller retired from active leadership of the company in In the U. Supreme Court found the Standard Oil trust to be in violation of the anti-trust laws and ordered the dissolution of the parent New Jersey corporation.
The thirty-eight companies which it then controlled were separated into individual firms. In his biography, Study in Power, John D.
Rockefeller, Industrialist and Philanthropist, the historian Allan Nevins reports that Rockefeller at that time ownedof the company's total ofoutstanding shares.
He now focused his efforts on philanthropy, giving away the bulk of his fortune in ways designed to do the most good as determined by careful study, experience and the help of expert advisers. From the time he had begun earning money as a boy, he had been giving a share of his income to his church and charities.
His philanthropy grew out of his early family training, religious convictions, and financial habits. During the s, he made regular contributions to the Baptist church, and by the time he was 21, he was giving not only to his own but to other denominations, as well as to a foreign Sunday school and an African-American church.
Support of religious institutions and African-American education remained among his foremost philanthropic interests throughout his life. It was on such a conditional basis that Rockefeller participated in the founding of the University of Chicago.John D. Rockefeller's greatest business accomplishment was the founding of the Standard Oil Company, which made him a billionaire and at one time controlled around 90 percent of the oil refineries and pipelines in the United States.
A significant contribution to the industrialization of the United States was Henry Ford's development of the assembly line One reason John D. Rockefeller, Andrew Carnegie, and J. Pierpont Morgan were sometimes called robber barons was because they.
John Davison Rockefeller Jr. (January 29, – May 11, ) was an American financier and philanthropist who was a prominent member of the Rockefeller caninariojana.com was the only son among the five children of Standard Oil co-founder John D.
Rockefeller and the father of the five famous Rockefeller brothers. In biographies, he is commonly .
The Spelman Family, Rockefeller's in-laws, along with John Rockefeller were ardent abolitionists before the Civil War and were dedicated to supporting the Underground Railroad. John Rockefeller was impressed by the vision of the school and removed the debt from the school.
ESSAY John D. Rockefeller, Jr.'s Contributions to American Conservation and Historic Preservation By Janet Rocap A merican environmental his tory is replete with the contri. Upon investigating the IWM, Harvey found that the historical information that most historians and researchers were using to research the IWM had been directly prepared by the lawyer of John D.
Rockefeller Jr., a man named Raymond B. Fosdick.