John D. Rockefeller - HISTORY
America wasn't discovered, it was built by a group of business-savvy, innovative young men: John D. Rockefeller, Cornelius Vanderbilt, Andrew Carnegie, Henry . Carnegie and Rockefeller went down in history as two of the greatest industry names that have ever lived. Many of us now that these two giants built their. John D. Rockefeller (), founder of the Standard Oil Company, Inspired in part by fellow Gilded Age tycoon Andrew Carnegie (), who .
No paperwork is exchanged. In response, he blasts through the countryside building a 4, mile pipeline that delivers his oil from Ohio to Pennsylvania, ending his dependence on the railroads.
The rich remain largely untouched. In fact, Rockefeller sees the slump as an opportunity to buy out his remaining competitors at knock-down rates. By the time the Great Depression finishes, Rockefeller has formed the largest corporate empire in America.
Tom Scott and Andrew Carnegie build their own pipeline. Scott loses half of his business, forcing him to lay off tens of thousands of Pittsburgh workers.
John D. Rockefeller
They turn, not against Rockefeller, but Scott. In just one night of rioting 39 of his buildings and 1, of his train cars go up in smoke. His Standard Oil comes to symbolise big, bad business. Roosevelt is re-elected and files dozens of law-suits against dozens of trusts. Rockefeller is subpoenaed and runs all over the country to avoid being served. But then his first grandson is born. So, to see him, he turns himself in and agrees to go to court. And then Rockefeller starts planning to build a new steel plant to rival Carnegies.
Rockefeller needs an alternative use for petroleum.
Business Rivalries : Andrew Carnegie VS. John D. Rockefeller
The highly flammable, highly toxic substance by-product of refining, gasoline, has previously been a problem, a pollutant. Now, it will power the new internal combustion engine that will drive the vehicle of the 20th century, the car. It has heard of kickbacks, political bribes, predatory pricing and when all else fails, straightforward intimidation. Standard Oil had gained an aura of invincibility, always prevailing against competitors, critics, and political enemies.
It had become the richest, biggest, most feared business in the world, seemingly immune to the boom and bust of the business cycle, consistently making profits year after year.
The company's vast American empire included 20, domestic wells, 4, miles of pipeline, 5, tank cars, and overemployees. Rockefeller finally gave up his dream of controlling all the world's oil refining; he admitted later, "We realized that public sentiment would be against us if we actually refined all the oil.
In the early s, Rockefeller created one of his most important innovations. Rather than try to influence the price of crude oil directly, Standard Oil had been exercising indirect control by altering oil storage charges to suit market conditions. Rockefeller then ordered the issuance of certificates against oil stored in its pipelines.
These certificates became traded by speculators, thus creating the first oil-futures market which effectively set spot market prices from then on. The National Petroleum Exchange opened in Manhattan in late to facilitate the trading of oil futures.
The Paris Rothschilds jumped into the fray providing financing. Even more critical, the invention of the light bulb gradually began to erode the dominance of kerosene for illumination. Standard Oil adapted by developing a European presence, expanding into natural gas production in the U. He bought a residence in on 54th Street near the mansions of other magnates such as William Henry Vanderbilt.
Despite personal threats and constant pleas for charity, Rockefeller took the new elevated train to his downtown office daily.
Ohio was especially vigorous in applying its state anti-trust laws, and finally forced a separation of Standard Oil of Ohio from the rest of the company inthe first step in the dissolution of the trust. Rockefeller, who is sitting in the witness stand, during the Standard Oil case on July 6, In the s, Rockefeller expanded into iron ore and ore transportation, forcing a collision with steel magnate Andrew Carnegieand their competition became a major subject of the newspapers and cartoonists.
The daily management of the trust was turned over to John Dustin Archbold and Rockefeller bought a new estate, Pocantico Hillsnorth of New York City, turning more time to leisure activities including the new sports of bicycling and golf. Steelthen controlled by J.
Pierpont Morganhaving bought Andrew Carnegie's steel assets, offered to buy Standard's iron interests as well. Steel stock and gave Rockefeller and his son membership on the company's board of directors. She documented the company's espionage, price wars, heavy-handed marketing tactics, and courtroom evasions.
I was willing that they should combine and grow as big and wealthy as they could, but only by legitimate means. But they had never played fair, and that ruined their greatness for me. Though he had long maintained a policy of active silence with the press, he decided to make himself more accessible and responded with conciliatory comments such as "capital and labor are both wild forces which require intelligent legislation to hold them in restriction.
Critics found his writing to be sanitized and disingenuous and thought that statements such as "the underlying, essential element of success in business is to follow the established laws of high-class dealing" seemed to be at odds with his true business methods. Rockefeller retained his nominal title as president until and he kept his stock. Pennzoil and Chevron have remained separate companies. In the aftermath, Rockefeller's control over the oil industry was somewhat reduced but over the next 10 years, the breakup also proved immensely profitable for him.
Rockefeller in to help finance the loan. Control was passed from the Iowa Group  to Gould and Rockefeller interests in with Gould in control and Rockefeller and Gates representing a minority interests. Osgood left the company in and devoted his efforts to operating competing coal and coke operations. Rockefeller's operative, Lamont Montgomery Bowers,  remained in the background.
Few miners actually belonged to the union or participated in the strike call, but the majority honored it. Strikebreakers called "scabs" were threatened and sometimes attacked. Both sides purchased substantial arms and ammunition. Striking miners were forced to abandon their homes in company towns and lived in tent cities erected by the union, such as the tent city at Ludlow, a railway stop north of Trinidad. In Februarya substantial portion of the troops were withdrawn, but a large contingent remained at Ludlow.
On April 20,a general fire-fight occurred between strikers and troops, which was antagonized by the troops and mine guards.
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The camp was burned, resulting in 15 women and children, who hid in tents at the camp, being burned to death. This incident brought unwanted national attention to Colorado. The union was forced to discontinue strike benefits in February There was destitution in the coal fields.
With the help of funds from the Rockefeller Foundationrelief programs were organized by the Colorado Committee on Unemployment and Relief. A state agency created by Governor Carlson, offered work to unemployed miners building roads and doing other useful projects. Bowers was relieved of duty and Wellborn restored to control inthen industrial relations improved.
Rockefeller stated, "I would have taken no action. I would have deplored the necessity which compelled the officers of the company to resort to such measures to supplement the State forces to maintain law and order. His hair never grew back, but other health complaints subsided as he lightened his workload.
He was buried in Lake View Cemetery in Cleveland. Personal life Further information: Rockefeller family Family Against long-circulating speculations that his family has French roots, genealogists proved the German origin of Rockefeller and traced them back to the early 17th century.
Johann Peter Rockenfeller baptized September 27, in the Protestant church of Rengsdorf immigrated in from Altwied today a district of NeuwiedRhineland-Palatinate with three children to North America and settled down in Germantown, Pennsylvania.
It has been home to four generations of the Rockefeller family. They had four daughters and one son together. He said later, "Her judgment was always better than mine. Without her keen advice, I would be a poor man. January 29, — May 11, The Rockefeller wealth, distributed as it was through a system of foundations and trusts, continued to fund family philanthropic, commercial, and, eventually, political aspirations throughout the 20th century.
Grandson Laurance Spelman Rockefeller became a conservationist. Charles Aubrey Eaton in 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".
During church service, his mother would urge him to contribute his few pennies to the congregation. He came to associate the church with charity. A Baptist preacher once encouraged him to "make as much money as he could, and then give away as much as he could".
Money making was considered by him a God-given gift.
Carnegie vs Rockefeller ( Venn Diagram)
His philosophy of giving was founded upon biblical principles. He truly believed in the biblical principle found in Luke 6: A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you.
While traveling the Southhe would donate large sums of money to churches belonging to the Southern Baptist Conventionvarious Black churchesas well as other Christian denominations. One time, he paid for a slave's freedom and donated to a Roman Catholic orphanage. As he grew rich, his donations became more generous, especially to his church in Cleveland; nevertheless, it was demolished inand replaced with another building. Allen —without issue. He died in and his tomb was paid from the property of his second wife.
By the time he was twenty, his charity exceeded ten percent of his income. Much of his giving was church-related. Rockefeller attended Baptist churches every Sunday; when traveling he would often attend services at African-American Baptist congregations, leaving a substantial donation.