Rockefeller - Wikipedia. John D. Rockefeller in 1. Born. John Davison Rockefeller(1. July 8, 1. 83. 9Richford, New York, U. S. Died. May 2. 3, 1. The Casements, Ormond Beach, Florida, U. S. Resting place. Lake View Cemetery, Cleveland, Ohio, U. S. 4. 1. His family moved several times before eventually settling in Cleveland, Ohio. He had various siblings, including William, who would enter the oil business with him. Overview of Dead End, 1937, directed by William Wyler, with Sylvia Sidney, Joel McCrea, Humphrey Bogart, at Turner Classic Movies.Rockefeller became an assistant bookkeeper at the age of 1. Maurice B. Clark and his brothers at 2. He bought them out and went on founding Rockefeller & Andrews with his brother William and another shareholder . Instead of drilling for oil, he concentrated on refining. In 1. 86. 7, Henry Flagler entered the partnership. The Rockefeller, Andrews & Flagler company prospered, incorporating local refineries, until the foundation of Standard Oil. Rockefeller founded Standard Oil Company, Inc. Bostwick, Samuel Andrews, and a silent partner, Stephen V. He ran it until officially retiring in 1. As kerosene and gasoline grew in importance, Rockefeller's wealth soared and he became the richest person in the country, controlling 9. Family Affair was one of those successful family comedies of the 1960's. Overview; Episode Guide. United States at his peak. Rockefeller had enormous influence on the railroad industry, which transported his oil around the country. Standard Oil dominated the oil industry and was the first great business trust in the United States. Rockefeller revolutionized the petroleum industry, and along with other key contemporary industrialists such as steel magnate Andrew Carnegie, defined the structure of modern philanthropy. Supreme Court ruled in 1. Standard Oil must be dismantled because it violated federal anti- trust laws; it was broken up into 3. Exxon. Mobil, Chevron, and others. Some of them are still among companies with the largest revenue. The individual pieces of the company were worth more than the whole, and as shares of the individual companies doubled and tripled in value in their early years, Rockefeller became the country. His fortune was mainly used to create the modern systematic approach of targeted philanthropy. He was able to do this through the creation of foundations that had a major effect on medicine, education and scientific research. He was a devout and devoted Northern Baptist, and supported many church- based institutions. Rockefeller adhered to total abstinence from alcohol and tobacco throughout his life. Rockefeller was also considered a supporter of capitalism based on a perspective of social Darwinism, and was quoted often as saying . His siblings were Lucy (1. His father was of English and German descent while his mother was of Scots- Irish descent. Bill was first a lumberman and then a traveling salesman who identified himself as a . The locals referred to the mysterious but fun- loving man as . He was a sworn foe of conventional morality who had opted for a vagabond existence and who returned to his family infrequently. Throughout his life, Bill was notorious for shady schemes. In between the births of Lucy and John, Bill and his mistress/housekeeper Nancy Brown had a daughter named Clorinda who died young. Between John and William Jr.'s births, Bill and Nancy had another daughter, Cornelia. She also put up with his philandering and his double life, which included bigamy. Thrifty by nature and necessity, she taught her son that . John did his share of the regular household chores and earned extra money raising turkeys, selling potatoes and candy, and eventually lending small sums of money to neighbors. He followed his father's advice to . I want to make 'em sharp. In 1. 85. 3, his family moved to Strongsville, Ohio and he attended Cleveland's Central High School, the first high school in Cleveland and the first free, public high school west of the Alleghenies. Then, he took a ten- week business course at Folsom's Commercial College, where he studied bookkeeping. His contemporaries described him as reserved, earnest, religious, methodical, and discreet. He was an excellent debater and expressed himself precisely. He also had a deep love of music and dreamed of it as a possible career. Paul Krugman, a New York Times Op-Ed columnist. Krugman is the author or editor of 27 books and more than 200 papers in professional journals and edited volumes. Henry Miller and The Phoenix. Henry Miller was the European editor. South Dakota Magazine explores the state, looking for interesting people and places that define our culture, heritage, arts, nature and communities. Ward (uncredited)--1941: 89%: Meet John Doe. Movie Crazy: Waiter--1932: Local Bad Man: Sheriff. Pre- Standard Oil career. As a bookkeeper. Rockefeller at age 1. In September 1. 85. Rockefeller was sixteen, he got his first job as an assistant bookkeeper working for a small produce commission firm called Hewitt & Tuttle. He worked long hours and delighted, as he later recalled, in . Making 5. 0 cents a day, the full salary for his first three months' work was $5. Clark, and they raised $4,0. Rockefeller went steadily ahead in business from there, making money each year of his career. While his brother Frank fought in the Civil War, Rockefeller tended his business and hired substitute soldiers. He gave money to the Union cause, as did many rich Northerners who avoided combat. Rockefeller was an abolitionist who voted for President Abraham Lincoln and supported the then- new Republican Party. He felt at ease and righteous following Methodist preacher John Wesley's dictum, . Most failed, but those who struck oil did not even need to be efficient. They would blow holes in the ground and gather up the oil as they could, often leading to creeks and rivers flowing with wasted oil in the place of water. The refinery was directly owned by Andrews, Clark & Company, which was composed of Clark & Rockefeller, chemist. Samuel Andrews, and M. The commercial oil business was then in its infancy. Whale oil had become too expensive for the masses, and a cheaper, general- purpose lighting fuel was needed. While other refineries would keep the 6. Tar was used for paving, naphtha shipped to gas plants. Barrels that cost $2. Rockefeller bought the wood and had them built for himself. He borrowed heavily, reinvested profits, adapted rapidly to changing markets, and fielded observers to track the quickly expanding industry. Beginning in the oil business. In 1. 86. 6, William Rockefeller Jr., John's brother, built another refinery in Cleveland and brought John into the partnership. Flagler became a partner, and the firm of Rockefeller, Andrews & Flagler was established. By 1. 86. 8, with Rockefeller continuing practices of borrowing and reinvesting profits, controlling costs, and using refineries' waste, the company owned two Cleveland refineries and a marketing subsidiary in New York; it was the largest oil refinery in the world. By the end of the American Civil War, Cleveland was one of the five main refining centers in the U. S. By 1. 86. 9 there was three times more kerosene refining capacity than needed to supply the market, and the capacity remained in excess for many years. Continuing to apply his work ethic and efficiency, Rockefeller quickly expanded the company to be the most profitable refiner in Ohio. Likewise, it became become one of the largest shippers of oil and kerosene in the country. The railroads competed fiercely for traffic and, in an attempt to create a cartel to control freight rates, formed the South Improvement Company offering special deals to bulk customers like Standard oil, outside the main oil centers. The cartel offered preferential treatment as a high- volume shipper, which included not just steep discounts/rebates of up to 5. Part of this scheme was the announcement of sharply increased freight charges. This touched off a firestorm of protest from independent oil well owners, including boycotts and vandalism, which led to the discovery of Standard Oil's part in the deal. A major New York refiner, Charles Pratt and Company, headed by Charles Pratt and Henry H. Rogers, led the opposition to this plan, and railroads soon backed off. Pennsylvania revoked the cartel's charter, and non- preferential rates were restored for the time being. While competitors may have been unhappy, Rockefeller's efforts did bring American consumers cheaper kerosene and other oil by- products. Before 1. 87. 0, oil light was only for the wealthy, provided by expensive whale oil. But during the next decade, kerosene became commonly available to the working and middle classes. In less than four months in 1. Eventually, even his former antagonists, Pratt and Rogers, saw the futility of continuing to compete against Standard Oil: in 1. Rockefeller to be acquired. Pratt and Rogers became Rockefeller's partners. Rogers, in particular, became one of Rockefeller's key men in the formation of the Standard Oil Trust. Pratt's son, Charles Millard Pratt, became Secretary of Standard Oil. For many of his competitors, Rockefeller had merely to show them his books so they could see what they were up against and make them a decent offer. If they refused his offer, he told them he would run them into bankruptcy and then cheaply buy up their assets at auction. But this was not intended to eliminate competition entirely. In fact, his partner Pratt said of that accusation . Standard was growing horizontally and vertically. It added its own pipelines, tank cars, and home delivery network. It kept oil prices low to stave off competitors, made its products affordable to the average household, and, to increase market penetration, sometimes sold below cost. It developed over 3. Vaseline petroleum jelly to chewing gum. By the end of the 1. Standard was refining over 9. U. S. Rockefeller had already become a millionaire ($1 million is equivalent to $2. That orderly, economic, efficient flow is what we now, many years later, call 'vertical integration' I do not know whether Mr. Rockefeller ever used the word 'integration'. I only know he conceived the idea. Scott, the president of the Pennsylvania Railroad, Standard's chief hauler. Rockefeller envisioned pipelines as an alternative transport system for oil and began a campaign to build and acquire them. The railroad, seeing Standard's incursion into the transportation and pipeline fields, struck back and formed a subsidiary to buy and build oil refineries and pipelines. Standard countered and held back its shipments and, with the help of other railroads, started a price war that dramatically reduced freight payments and caused labor unrest.
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