A biography of john davison rockefeller a united states industrialist

He had an elder sister named Lucy and four younger siblings; William Jr. 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 "botanic physician" who sold elixirs.

A biography of john davison rockefeller a united states industrialist

Photograph by Arnold Genthe, The family moved several times during his youth: His father, an itinerant businessman, dealt in horses, lumber, salt, patent medicines, and herbal remedies and often lent money at profitable rates of interest.

During — he boarded in Cleveland and attended Central High School. Hewitt and Henry B. Clark to establish their own commission house. Rockefeller was an earnest, disciplined, and ambitious young businessman in a growing city, and his pious upbringing provided a source of both strength and self-doubt.

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He used aphorisms to remind himself to follow the road of proper conduct. Baptized at the Erie Street Baptist Church in Cleveland inhe took an active role in the leadership of the church. The couple had three daughters and a son.

A biography of john davison rockefeller a united states industrialist

Although he struck many of his business acquaintances as quiet, cold, and reserved, Rockefeller exhibited a patient, warm, and sociable personality at home and among friends.

His recreations included driving and racing his horses, winter sleighing, ice skating, and later, bicycling. This would not be the only time in his career that his expansive plans for the business—and the borrowing and risk they entailed—put him at odds with more cautious colleagues. He and Clark soon dissolved their commission merchant partnership as well, and Rockefeller entered the oil industry full time.

Rockefeller proceeded with his plans for expanding the business, building a second refinery and in organizing a company in New York, managed by his brother William Rockefellerto handle both the eastern trade and the export of kerosene.

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Flagler and Stephen V. Harkness invested in it. Harkness remained a silent partner, but Flagler and Rockefeller developed a close personal friendship and a strong working relationship.

Between andas increasing crude production drove down oil prices and as the railroads engaged in periodic rate wars, Flagler negotiated with the competing railroads to secure lower freight rates for his firm.

These lower rates helped mitigate against the advantages enjoyed by refiners in other areas who were closer to either the sources of crude oil or the markets for refined oil.

To attract new capital for further expansion, the partnership was reorganized in January as the Standard Oil Company, a joint stock corporation with Rockefeller, the largest stockholder, as president.

Worried about the overproduction of crude oil, excess refining capacity, and falling prices, Rockefeller began to develop a plan to bring order to the volatile industry.

He envisioned a cooperative alliance of refiners, with a strong Standard Oil at the nucleus of the organization; such a combination of refiners, he believed, could effectively coordinate the industry to the mutual benefit of refiners, producers, and railroads.

At the same time Rockefeller lent his support to the South Improvement Company, a plan launched by the railroads that aimed to end price wars, restore transportation rates to a profitable level, and guarantee each oil-carrying line an equitable share of the traffic while offering preferential rates to member refiners.

Oil producers rebelled against the plan when it became public in February Especially troublesome was the provision for drawbacks, by which the participating railroads would pay to member shippers a portion of the higher rates charged to nonmember shippers.

In April the South Improvement Company was dissolved, and the boycott ended. At the same time Flagler secured even lower shipping rates, and the Standard began to increase the products it manufactured beyond kerosene to include lubricants, candles, paints, and dyes.

A biography of john davison rockefeller a united states industrialist

Attempts by both refiners and producers to bring order to the industry continued without success in — In the meantime Rockefeller continued to expand the Standard. Acquisitions in increased its role in the retail trade, and it entered the pipeline business in —, consolidating its holdings into the United Pipe Lines inone of the three major systems in the industry.

In Rockefeller and the Standard defeated a major challenge to its growing power. The Empire Transportation Company, a subsidiary of the Pennsylvania Railroad, entered the oil-refining business and sought to put together a network of independent refiners and producers. The rate war and the railroad strike of led to serious financial problems for the Pennsylvania, and in October the Standard bought the refining assets of the Empire, which went out of business.

That same month the Standard acquired a major pipeline system and, in a new agreement with the railroads, became the refiner responsible for allocating oil shipments among the roads according to an agreed-upon formula in exchange for reduced rates. Over the next two years the Standard pushed its advantage and made other acquisitions.

His plan was vindicated in when Standard chemist Herman Frasch developed a method for adequately refining the sulfur-based oil from these fields, making the acquisitions highly profitable.

Rockefeller and his colleagues struggled to devise both an efficient management system and a satisfactory legal organization for their growing business.

An innovative system of committees evolved during the s to oversee specific aspects of the daily operations, with an executive committee directing the entire operation.

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This system permitted greater efficiency through the detailed analysis of operations and the coordination of the work among geographically dispersed plants. As an Ohio corporation, however, Standard Oil could not legally own property in other states or hold stocks in other companies.

During the s various Standard officials were designated as trustees and given responsibility for particular stocks in Standard subsidiaries, but this system grew unwieldy, and in Standard officials named three trustees to hold the stock of the various companies allied with the Standard of Ohio.

Problems with the trustee device led to a new innovation inthe Standard Oil Trust agreement, which created the first modern trust in American business history.Apr 09,  · John Davison Rockefeller, the son of a traveling salesman, was born on July 8, , in Richford, New York.

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Industrious even as a boy, the future oil magnate earned money by raising turkeys, selling candy and doing jobs for neighbors. In , the Rockefeller family moved to the Cleveland, Ohio, area, where John attended high school then briefly studied bookkeeping at a commercial college.

Horoscope and natal chart of John D. Rockefeller, born on /07/ you will find in this page an excerpt of the astrological portrait and the interpration of the planetary dominants. John D. Rockefeller, in full John Davison Rockefeller, (born July 8, , Richford, New York, U.S.—died May 23, , Ormond Beach, Florida), American industrialist and philanthropist, founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S.

business trust. William Brewster ( – 10 April ) was an English official and Mayflower passenger in In Plymouth Colony, by virtue of his education and existing stature with those immigrating from the Netherlands, Brewster, a separatist, became senior elder and the leader of the community.

John D. Rockefeller, in full John Davison Rockefeller, (born July 8, , Richford, New York, U.S.—died May 23, , Ormond Beach, Florida), American industrialist and philanthropist, founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S.

business trust. Abraham Lincoln (February 12, – April 15, ) was the 16th President of the United States, serving from March until his assassination in April Lincoln led the United States through its greatest constitutional, military, and moral crises—the American Civil War—preserving the Union, abolishing slavery, strengthening the national government and modernizing the economy.

John D. Rockefeller - Wikipedia