Okla-homey
8/5/2009, 07:24 AM
August 5, 1882: A giant is born
http://img14.imageshack.us/img14/2259/standardoilstock.jpg
127 years ago today, the Standard Oil Company of New Jersey was established as part of the giant Standard Oil Trust. The trust had been organized earlier in the year, bringing together John D. Rockefeller's oil empire under one central management, run by Rockefeller and an "inner circle."
http://img14.imageshack.us/img14/5066/standarddessindepresses.jpg
The Standard Oil Trust became the first great monopoly in American history, eventually acquiring 90 percent of the world's oil refining capacity before it was ordered to dissolve in 1892. Rockefeller was infamous for his ruthless business tactics, and it was rumored that he often threatened to put local merchants out of business unless they bought Standard Oil.
http://img44.imageshack.us/img44/4450/standardjohndrockefelle.jpg
John D. Rockefeller
At the breakup of the Standard Oil organization, the bulk of its assets went to the Standard Oil Company (New Jersey), which evolved into Exxon. The rest eventually became the Mobil Corporation. In 1999 Exxon and Mobil were reunited to become the world’s largest publicly held petroleum company.
http://img14.imageshack.us/img14/2259/standardoilstock.jpg
127 years ago today, the Standard Oil Company of New Jersey was established as part of the giant Standard Oil Trust. The trust had been organized earlier in the year, bringing together John D. Rockefeller's oil empire under one central management, run by Rockefeller and an "inner circle."
http://img14.imageshack.us/img14/5066/standarddessindepresses.jpg
The Standard Oil Trust became the first great monopoly in American history, eventually acquiring 90 percent of the world's oil refining capacity before it was ordered to dissolve in 1892. Rockefeller was infamous for his ruthless business tactics, and it was rumored that he often threatened to put local merchants out of business unless they bought Standard Oil.
http://img44.imageshack.us/img44/4450/standardjohndrockefelle.jpg
John D. Rockefeller
At the breakup of the Standard Oil organization, the bulk of its assets went to the Standard Oil Company (New Jersey), which evolved into Exxon. The rest eventually became the Mobil Corporation. In 1999 Exxon and Mobil were reunited to become the world’s largest publicly held petroleum company.