The Age of Big Business: A Chronicle of the Captains of IndustryHendrick, Burton Jesse
History
The Age of Big Business: A Chronicle of the Captains of Industry
Hendrick, Burton Jesse
Big business -- United States -- History; Industries -- United States -- History
Daring as was this conception, the resourcefulness and the skill with
which Rockefeller executed it were more startling still. Merely to
catalogue, one by one, the achievements of the ten succeeding fruitful
years, almost takes one's breath away. Indeed the whole operation
proceeded with such a Napoleonic rapidity of action that the outside
world had hardly grasped Rockefeller's intention before the monopoly
had been made complete. We catch one glimpse of Rockefeller, in 1868, as
head of the prosperous house of Rockefeller, Andrews, and Flagler,
and eight years afterwards we see him once more, this time the man who
controlled practically the entire petroleum business of the world. His
career of conquest began in 1870, when the firm of Rockefeller, Andrews,
and Flagler, joining hands with several large capitalists in Cleveland
and New York, was incorporated under the name of the Standard Oil
Company of Ohio. In 1870 about twenty-five independent refineries, many
of them prosperous and powerful, were manufacturing oil in the city
of Cleveland; two years afterward this new Standard Oil Company had
absorbed all of them except five: In these two critical years the oil
business of the largest refining center in the United States had thus
passed into Rockefeller's hands. By 1874 the greatest refineries in New
York and Philadelphia had likewise merged their identity with his own.
When Rockefeller began his acquisition, there were thirty independent
refineries operating in Pittsburgh, all of which, in four or five years,
passed one by one under his control. The largest refineries of Baltimore
surrendered in 1875.
Public-domain text, read in full here on John Shaqi.
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