Document 7 describes this tactic in the words of George Rice, “Standard Oil Company was offering the same quality of oil at much lower prices than I could do – from one to three cents a gallon less than I could possibly sell it for.” By selling oil for cheaper, Rockefeller secured himself as the leader in the oil business; he used this to then buy out other businesses to gain total control. This resulted in the destruction of nearly all other oil companies, therefore leaving the country reliant on Standard Oil. According to this document, the railroad
The victory inside the authorities prosecution of general Oil, together with passage of the Clayton Act, caused more lively enforcement of the antitrust legal guidelines. The U.S. Justice branch filed healthy in the 1910's and early 1920's in opposition to many trusts in different industries, which include American Can business enterprise (tin cans), United Shoe equipment corporation (shoe machinery), worldwide Harvester (farm machinery), and united states of america metallic organization (steel). The excellent court decision towards preferred Oil additionally signified the government's mindset closer to mergers. Mergers and acquisitions subsided briefly, until the authorities failure in prosecuting the merger practices of the usa metal corporation in 1920. With the victory of Cleveland, Standard Oil started connecting with different urban areas.
Tarbell gave people the facts to back their worries about the rapidly growing Industrial America. Anti-trust actions were also implemented by popular demand of the public out of concerns for a small portion of the population being the large money holders. Roosevelt even fought the intent of the Sherman Anti-Trust Act to go up against the Standard Oil Company. The Standard Oil Company was forced to break down into many different businesses. Rockefeller was indicted along with multiple other individuals that were found guilty as a part of the conspiracy to monopolize and wrongfully favor certain people over everyone else.
Ida Tarbell was one of the most influential muckrakers, she was an american journalist. Muckrakers are one who inquires into and publishes scandal and allegations of corruption among political and business leaders. Tarbell exposed the unfair practices of the Standard Oil Company, leading to a U.S. Supreme Court decision to break its monopoly. She was known as the women who cracked the oil trust. Ida wrote a book titled The History of the Standard Oil Company, exposing the oil company run by John D Rockefeller.
She was the writer of the novel The History of Standard Oil which depicted how John D. Rockefeller was a corrupt man who wished to take over the whole industry of the oil company. “To know every detail of the oil trade, to be able to reach at any moment its remotest point, to control even its weakest factor—that was John D. Rockefeller’s ideal of doing business. ”3 This here showed society how the inner working of the monopolies such as the oil companies and possibly the steel companies worked. The awareness that was raised by Tarbell lead to the restrictions that certain businesses must follow in the Clayton Anti-trust Act of 1914.
May 15, 1911, the United States Supreme Court has declared that Standard Oil to being an “unreasonable” monopoly and orders the company to be dissolved under the Sherman Antitrust Act. Founder of Standard Oil John D. Rockefeller entered the oil industry during the 1860s; and working alongside his business partner was able to create a oil empire. A ruthless businessman, he used his wealth to buy out the competition and as the company expanded they receive benefits such as discounted rates from railroads. By the year 1882, he controlled almost every aspect of the oil industry: distribution, marketing, refining, you name it he has complete control of it. He eventually controlled almost 90% of the United States oil production.
The company arranges with railroads for a discount price on all their shipments. The public protest and after three months the plans were canceled ("Rockefeller, John
Rockefeller completely eliminated any competition; he owned 90 percent of the nation’s refineries and pipelines! That’s a lot! Owning basically all of the oil refineries meant that most of the nation’s oil had to go through Rockefeller; But Rockefeller didn’t get away with his rise to power. Many of the muckrakers targeted him. “As The New York Times reported in 1937: “He was accused of crushing out competition, getting rich on rebates from railroads, bribing men to spy on competing companies, of making secret agreements, of coercing rivals to join the Standard Oil Company under threat of being forced out of business, building up enormous fortunes on the ruins of other men, and so on.”
Rockefeller, was a ruthless oil company that achieved its monopoly through aggressive and often illegal business practices. The company frequently purchased competitors, undercutted prices, and made shady deals with the railroads for their monopoly to succeed. Ida Tarbell, an American teacher. Author, and journalist, being personally affected by the Standard Oil Company was picked by her at the time job, McClure’s Magazine to investigate about the company. Her article, “History of Standard Oil Company, raised public awareness of Rockefeller’s ruthless monopoly.
Muckrakers played an important role in reforming and creating massive change during the nineteenth century. Extreme tabloid journalism was the norm during the nineteenth century. Facts seemed lost and reporters wrote sensational articles in order to sell newspapers. One reporter however broke the norms, Ida.
Ida Tarbell (1857-1944) was a teacher, biographer, author and editor as well as a pioneer of investigative journalism. She became famous for her serialized political biographies on figures such as Napoleon Bonaparte (1769-1821) and Abraham Lincoln (1809-1865) in McClure 's (1894-1904) and American Magazine (1906-1915) as well as for her reports on the corporate monopoly of John D. Rockefeller 's (1839-1937) business practices in The History of the Standard Oil Company (1904). Her reports on Rockefeller 's business are considered seminal works of investigative journalism, and they led to the dissolution of the Standard Oil Corporation and resulted in President Theodore Roosevelt (1858-1919) labelling newspaper reporters like Tarbell as muckrakers. Despite being an accomplished woman who was considered pre-eminent in her field and a seminal part of the growing woman 's movement in her time, Tarbell was also known for advocating an anti-suffrage position,
John D. Rockefeller was the founder of the Standard Oil Company and became one of the wealthiest men of his time. His company was the major leader of the oil business in the United States during his reign. Standard Oil company served as a prime example of how companies should function, which helped to guide others to follow in his footsteps. He was a major philanthropist and used his large fortune to fund many philanthropic causes. His donations helped pay for the creations of the University of Chicago, the Rockefeller University, the establishment of Central Philippine University, and many others.
Rockefeller created a monopoly with the refinery businesses and Scott and Vanderbilt decided to pull out of business with Rockefeller to make him pay going rates. Instead of caving in Rockefeller builds pipelines to transport the oil, and he no longer needs
John D. Rockefeller Sr: How did John D. Rockefeller impact the Industrial Revolution John Davison Rockefeller Sr. once stated “If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success” (John D. Rockefeller Quotes). John D. Rockefeller was the founder of Standard Oil in which then became one of the wealthiest men in the world. Rockefellers ongoing funding as a philanthropist and trust in oil is how the man's name still lives on to this day (The Rockefeller Archive Center). For thousands of years oil has been a main resource for human consumption, and remains the same.
This time in history can be described as a time of change, and a time when women were not at the forefront of attention. This doesn’t mean that they were not existent, it means that they were not apart of the serious events that happened during this time. Women had their own little world they lived in and was overshadowed by men. Overall women did have a lot of opportunities but they also had a lot of limitations.