Background on oil industry: The importance of oil for lighting, new discoveries of oil in Pennsylvania, and low startup costs made the oil industry in the nineteenth century an extremely competitive industry. Show Incorporation: Rockefeller organized his large Cleveland oil refinery as a corporation, which helped him limit liability and maximize profit. Size and leverage: Rockefeller used the size of his corporation, Standard Oil, to bargain surreptitiously for reduced railroad rates, which in turn enabled him to undercut competition. From this position, he was able to force competitors to shut down, or sell out and become part of Standard Oil. Trusts and holding companies: To strengthen the legal footing of his secret dealings, Rockefeller used trustees and stock swaps to coordinate between companies, effectively giving him a monopoly over oil refinement. When the legal standing of this arrangement came under fire, he reorganized his refineries under a holding company, which made them technically one company. A central administration could coordinate their actions without risking being held in violation of antitrust laws. Management: By controlling an entire sector of the economy, Rockefeller was able to maximize efficiency. He expanded outward from his control of refineries to seek control of transportation, marketing, and sources of crude oil. Which of the following groups would have been unlikely to support prohibition in the late nineteenth century?Which of the following groups would have been unlikely to support prohibition in the late nineteenth century? German immigrants. In 1880s, the Women's Christian Temperance Movement (WCTU) controversially threw its support behind the? Prohibition Party.
Which of the following statements describes the Chinese immigrants to the US in the 19th century?Which of the following statements describes the Chinese immigrants to the United States in the nineteenth century? They faced more severe discrimination than European immigrants. Why did so few African American men hold factory jobs in the United States in 1890?
What did the Pullman strike and Homestead strike have in common?What did the Pullman Strike, Haymarket Affair, and Homestead Strike have in common? They were marked by violence.
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How did John D. Rockefellers Standard Oil Corporation come to control 95 percent of the nations oil refining capacity by the 1880s quizlet?
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