Her story, serialized by McClure's in 1902 and 1903, tells the history of John D. Rockefeller's company. "Standard Oil's approach is a typical example of how large companies try to gain advantages and monopolies by utilizing their financial power and … The government then sued the Standard Oil Company & Trust for violating the Sherman Antitrust Act of 1890. In 1974, Mobil introduced the first synthetic motor oil – Mobil 1™. This included oil processing, marketing, and transportation. The History of the Standard Oil Company; Volume 1 by Ida Minerva Tarbell. [5] One review from the Economic Journal fixated on the monumental nature of Tarbell's work, stating that "it is difficult to write about Miss Tarbell's remarkable achievement without using language approaching the edge of hyperbole. This is the full and complete digital version of both volumes, plus all appendices, illustrations, charts, tables, footnotes, index and fully hyperlinked. The state of Ohio sued Standard Oil on the basis of this law, and in 1892 the company was forced to separate its structure into regional companies, such as Standard Oil of New Jersey, Standard Oil of Ohio, and Standard Oil of California (the branch with which Daniel deals in the film, and which in real life was led by H.M. Tilford, as in the film). The History of the Standard Oil Company: An Infographic. [2][3] Journalists, politicians, and citizens alike celebrated the accomplishments of Tarbell - a woman "outside" the inner workings of business and without significant money or influence. We've created informative articles that you can come back to again and again when you have questions or want to learn more! In 1880, the Standard Oil Company controlled around 95 percent of all the refined oil in the United States. The refinery became a centerpiece of John D. Rockefeller’s Midwest oil empire in 1889, part of his larger Standard Oil Trust that came to dominate the oil industry through the early 1900s. The company had its reach all across the United States and was headed by none other than famed entrepreneur John D. Rockefeller. The History of the Standard Oil Company; Volume 2: Tarbell, Ida M. (Ida Minerva) 1857-1944: Amazon.com.au: Books Would the public have been better off if older and more costly methods of producing, processing and shipping oil had continued to be used, leading to prices far higher than necessary? This agreement, which sat upon layers of legal paperwork and loopholes, discouraged public investigation into the Trust’s proceedings and actions. The history of the Standard Oil Company is interesting to explore. Standard Oil played a crucial role in the growth of the U.S economy due to its strong rooting in areas such as the railroads, other industries, as well as the government and, although it is criticized for a multitude of questionable business activities, Standard Oil did indeed benefit the U.S Economy in a number of ways. Nowadays, the Standard Oil Company remains in pieces as it was broken apart into several different companies and subsidiaries. Amoco, which was renamed from Standard Oil of Indiana and later acquired by BP, along with what was once known as Standard Oil of Ohio, is another. In the year 1904, it controlled 91% of oil production and … The History of the Standard Oil Company is a 1904 book by journalist Ida Tarbell. Publication date 1904 Topics Standard Oil Company Publisher New York : McClure, Phillips Collection kellylibrary; toronto Digitizing sponsor MSN Contributor Kelly - University of Toronto Language English. Adding to your cart. Published in 1904, Ida Tarbell's The History of the Standard Oil Company exposed Rockefeller's monopolistic tactics to the public, eventually resulting in the company's dismantling in 1911. Nowadays, hardly any trace of the Standard Oil Company & Trust names exist. From 1870 to 1911, the Standard Oil Company and Trust held control of the United States’s entire oil production. Also, Standard Oil of New York, which merged with Vacuum Oil, and later became Mobil. History of Brands american history,  history,  oil,  oil company. ‎The History of the Standard Oil Company is a book written by journalist Ida Tarbell in 1904. She began by interviewing Henry H. Rogers, one of her father's fellow independents who became one of Rockefeller's colleagues, as well as others close to the inner workings of Standard Oil, that included one of the founders Frank Barstow as well. These include  Standard Oil of New Jersey, which merged with Humble Oil and later became Exxon. Before the interstate highway system was developed, Route 66 was the safest, fastest way to cross the western half of the country. Initially it consisted of a single facility outside Whiting, Indiana, which refined oil intro products that people and business needed: axle grease for industrial machinery, paraffin wax … It was the world’s largest industrial merger at the time. In 1878, Standard Oil Co. opened a three-person, second-story office in San Francisco. After a two year battle in the courtroom with over 400 witnesses, more than 1300 exhibits, and a full report of nearly 15,000 pages, the US Government won. "MISS TARBELL'S BOOK: A Glance at the Widely Advertised "History of the Standard Oil Company. These cookies do not store any personal information. Sign up to receive the latest and greatest articles from our site automatically each week (give or take)...right to your inbox. Another one was Standard Oil of Kentucky , Texaco, and Unocal. But opting out of some of these cookies may have an effect on your browsing experience. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. In 1911, the Trust was ordered to break apart. [2], After her education and to accumulate writing experience, Tarbell began working at McClure's Magazine, where she wrote several successful series on historical figures. 31 35 Addeddate 2007-05-17 16:41:24 The company moves to its current location on Bishop Avenue, Bridgeport. [2][3], Public outcry erupted at the conclusion of Tarbell's 19-part exposure of Standard Oil published in McClure's, eventually resulting in the expedited breakup of Standard Oil in 1911. In 1870, the company was renamed Standard Oil Company, after which Rockefeller decided to buy up all the … The first major industrial monopoly in the U.S., Standard Oil, in 1901, was the largest corporation in the country, and at its peak, controlled as much as eighty-five percent of oil refining in America. As a direct witness to the schemes and horizontal integration of John D. Rockefeller and his associates, Tarbell began building the foundations of The History of the Standard Oil Company early with growing senses of interest and discontent. The unscrupulous tactics used by Rockefeller to build Standard Oil were one of the key drivers of anti-trust law in the USA, including the Sherman Antitrust Act of 1890. Starting in Chicago and ending Santa Monica, the "Main Street of America" came right though St. Louis, but not in the mostly straight lines we're accustomed to now. This included oil processing, marketing, and transportation. 30-day returns. This website uses cookies to improve your experience while you navigate through the website. In 1933, Standard Oil secured the first contract to drill for oil in Saudia Arabia. Yet Tarbell's work is more than simply a monumental piece of reporting; it is a deft, engrossing portrait of business in America--both its virtues and excesses. However, the Trust continued to operate from its headquarters in New York City. We hope you enjoy this website. As such, The History of Standard Oil Company harbors great significance as a standard-bearer of modern investigative journalism. In 1870, Rockefeller abolished the partnership and incorporated Standard Oil in Ohio. In 1880, the Standard Oil Company controlled around 95 percent of. Standard Oil Co. was a monopoly founded by John D Rockefeller back in 1870. The history of the Standard Oil Company carries on today through various companies they previously owned. John D. Rockefeller (1839-1937), founder of the Standard Oil Company, became one of the worlds wealthiest men and a major philanthropist. 1857-06-18 Henry Clay Folger, American CEO of Standard Oil and founder of the Folger Shakespeare Library, born in New York City (d. 1930) 1857-11-05 Ida Tarbell, American muckraker (The History of the Standard Oil Company), born in Erie County, Pennsylvania (d. 1944) John D. Rockefeller Jr We'll assume you're ok with this, but you can opt-out if you wish. [6], Though Standard Oil Company accrued more cumulative value after it was broken up, the exposure of what Tarbell described as immoral and illegal business became a striking symbol of the power of the press. Critics accused Rockefeller … Standard Oil of Indiana officially became Amoco Corporation in 1985 and merged with British Petroleum (now BP) in 1998. A truly fascinating work. The company began to purchase or drive out of business oil refiners across the United States. Our site includes quite a bit of content, so if you're having an issue finding what you're looking for, go on ahead and use that search feature there! The Sherman Antitrust Act of 1890 was the first federal act that placed a ban on monopolistic business practices. The History of the Standard Oil Company, originally a serial that ran in McClure’s, is one of the most thorough accounts of the rise of a business monopoly and its use of unfair practices. Standard Oil founder John D. Rockefeller, irked by her stinging éxpose, dubbed her "Miss Tarbarrel." In 1870, Rockefeller founded Standard Oil Company, which eventually became a domineering monopoly in the oil industry. Sign in to check out Check out as a guest . You also have the option to opt-out of these cookies. In 1906, the United States Government became involved. It was during this time that the company went from a local Cleveland operation to a countrywide powerhouse. John D. Rockefeller bought his and Pratt's business in 1874, and Rogers rose rapidly in Standard Oil. The item you've selected wasn't added to your cart. "[9], "Miss Tarbell Has the Distinction (political cartoon)". Add to cart . After this initial success, her shift turned to John D. Rockefeller. Standard Oil Mast Yukon, OK on US 66. The Trust did so, becoming 34 separate and individual companies. In 1870, he established Standard Oil, which by the early 1880s controlled some 90 percent of U.S. refineries and pipelines. In 1870, Rockefeller united these companies together as the Standard Oil Company. Add to Watchlist Unwatch. Nowadays, the Standard Oil Company remains in pieces as it was broken apart into several different companies and subsidiaries. Today, Mobil 1 is the world’s leading synthetic motor oil brand; Detergent gasolines In 1968, Mobil was the first to develop detergent gasolines. It was during this time that the company went from a local Cleveland operation to a countrywide powerhouse. Immediately after the ruling in 1911, eight companies kept Standard Oil as a part of their name. The History of the Standard Oil Company is credited with hastening the breakup of Standard Oil, which came about in 1911, when the Supreme Court of the United States found the company to be violating the Sherman Antitrust Act. These cookies will be stored in your browser only with your consent. Standard Oil's growth in wealth and power drew the awe of other corporations and the criticism of social critics, most notably muckraker Ida Tarbell, who wrote the scathing "History of the Standard Oil Company" in McClure's magazine in 1902. The articles also helped to define a growing trend to investigation,… Copyright © Historyplex & Buzzle.com, Inc. The History of the Standard Oil Company is a 1904 book by journalist Ida Tarbell. Standard’s two largest refineries are located in Whiting and Texas City, Texas. Standard Oil's pre-history began in 1863, as an Ohio partnership formed by industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, silent partner Stephen V. Harkness, and Oliver Burr Jennings, who had married the sister of William Rockefeller's wife. John D. Rockefeller (July 8, 1839–May 23, 1937) was an astute businessman who became America’s first billionaire in 1916. Today, they are known as Chevron but all started under the Standard Oil of California company. The inspiration behind The History of Standard Oil Company was largely fueled by Ida Tarbell's childhood experiences. By 1880, Rockefeller had bought out Clark, invited Henry M. Flager to join him, and operated the largest oil refineries in Cleveland. From 1870 to 1911, the Standard Oil Company and Trust held control of the United States’s entire oil production. These reactions are immortalized in political cartoons utilizing imagery of Rockefeller's hidden agendas being demolished by investigative journalism and muckraking. The History of the Standard Oil Company was credited with hastening the breakup of Standard Oil, which came about in 1911. The Standard Oil Trust Agreement, signed by Rockefeller and nine other associates in 1882, states that companies involved in the agreement could be willfully created, dissolved, and divided. As the years went by Standard Oil’s grasp upon the oil market tightened. It is an exposé about the Standard Oil Company, run at the time by oil tycoon John D. Rockefeller, the richest figure in American history. By 1890, Standard Oil had control of about ninety percent of all the oil refineries within the United States. Established in 1870, it operated as a major company trust and was one of the world's first and largest multinational corporations until it was dissolved by the United States Supreme Court in 1911. Oil Prices. Standard Oil was a predominant integrated oil producing, transporting, refining, and marketing company. 1920's Standard becomes the leading supplier of high quality coal throughout Bridgeport and Stratford. The Standard Oil Company’s originated in 1863. It is an exposé about the Standard Oil Company, run at the time by oil tycoon John D. Rockefeller, the richest figure in American history. Standard Oil of Indiana, as the company was officially known for many years, took shape in 1899. Despite its modest trappings, Standard possessed marketing acumen, outstanding products, an aggressive advertising philosophy and financial backing from its New York parent. The company was created and built by John D. Rockefeller and his associates. The Standard Oil Company argued that they were merely better than their competitors. An abridged paperback edition was released later. Around this time the Sherman Anti-Trust act was passed and soon the slow decline of Standard Oil’s power began. [7] In his 2008 book Taking on the Trust: The Epic Battle of Ida Tarbell and John D. Rockefeller, Steve Weinberg described the exposure of Standard Oil as "arguably the greatest work of investigative journalism ever written". During the 1870s and 1880s, Rockefeller sought to expand Standard Oil's influence. 6789 Quail Hill Pkwy, Suite 211 Irvine CA 92603. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. By 1880, Rockefeller had bought out Clark, invited Henry M. Flager to join him, and operated the largest oil refineries in Cleveland. Audi History: The Story Behind the Luxury Car Brand, History of Physical Therapy: From Service to Profession, Birmingham Alabama History: The Boomtown of Civil Rights, Mulan History: From Ancient China to Disney. Finally, the Ohio Oil Company, which became Marathon Oil, which eventually also spun-off Marathon Petroleum. The Standard Oil Company’s originated in 1863. The history of the Standard Oil Company is interesting to explore. [8], In a 2010 column, economist Thomas Sowell criticized Tarbell for what he characterized as cherry picking which data to include in her book: "One of the crucial facts left out of Ida Tarbell's book was that Rockefeller's improvements in the oil industry brought down the price of oil to a fraction of what it had been before.[...] Actually, a few of these companies, including Exxon and Mobil have once again merged. It is mandatory to procure user consent prior to running these cookies on your website. The history of the Standard Oil Company by Tarbell, Ida M. (Ida Minerva), 1857-1944. https://www.nytimes.com/1999/03/01/business/media-journalism-s-greatest-hits-two-lists-of-a-century-s-top-stories.html, American Experience | The Rockefellers | Special Features | A Journalistic Masterpiece, https://en.wikipedia.org/w/index.php?title=The_History_of_the_Standard_Oil_Company&oldid=992567398, Creative Commons Attribution-ShareAlike License, This page was last edited on 5 December 2020, at 23:28. The company was formed by John D. Rockefeller, Maurice B. Clark, and Samuel Andrews in Cleveland, Ohio. This website uses cookies to improve your experience. It was an exposé of the Standard Oil Company, run at that time by oil tycoon John D. Rockefeller the richest figure in America's history. Eventually, Tarbell uncovered a crucial piece of evidence proving that Standard Oil was rigging railroad prices and preying on its competition. In 1892, the Ohio Supreme Court even tried to dissolve the Trust. Settlers used oil as an illuminant for medicine, and as grease for wagons and tools. He built up the company through 1868 to become the largest oil refinery firm in the world. The government felt that The Standard Oil Company’s economic power was beginning to be excessive. The value of Rockefeller's shares rose after the breakup as the new companies had a positive development on the stock exchange.[1]. At the turn of the 20th century, John D. Rockefeller’s Standard Oil was a force to be reckoned with. Necessary cookies are absolutely essential for the website to function properly. Motor oil In 1952, Jersey Standard introduced Uniflo motor oil, the first multigrade motor oil for both summer and winter use. The subsequent decision splintered the company into 34 "baby Standards." This category only includes cookies that ensures basic functionalities and security features of the website. The company was formed by John D. Rockefeller, Maurice B. Clark, and Samuel Andrews in Cleveland, Ohio. Originally serialized in nineteen parts in McClure's magazine, the book is a seminal example of muckraking, and inspired many other journalists to write about trusts, large businesses that (in the absence of strong antitrust laws in the 19th century) attempted to gain monopolies in various industries. [4], Several journal and newspaper reviewers addressed The History of Standard Oil Company by praising its calmness in the face of hatred, focus on facts, and genuine exposure of the effects that greed can have on businessmen seeking success. So careful is she in her facts, so sane in her judgements, that she seems to have reached the high-water mark of industrial history." Born into modest circumstances in upstate New York, he entered the then-fledgling oil business in 1863 by investing in a Cleveland, Ohio, refinery. Despite the dominance of Standard Oil over the American market from the 1880s through the 1900s, one important fact should not be ignored: Oil prices throughout this period remained at about $1 per barrel, lower than the prices before or after this period. This agreement, which sat upon layers of legal paperwork and loopholes, In 1906, the United States Government became involved. Many similar accounts followed Lloyd’s—the most definitive being Ida Tarbell’s 1904 History of the Standard Oil Company, ranked by a survey of leading journalists as one of the five greatest works of journalism in the 20th century.3 Lloyd’s, Tarbell’s, and other works differ widely in their depth and details, but all tell the same essential story—one that remains with us to this day. In 1955, the Standard Oil refinery at Whiting, Indiana was one of the largest oil processing centers in the world. The History of the Standard Oil Company is listed number five among the top 100 works of twentieth-century American journalism by the New York Times in 1999. Of the initial 10,000 shares, John D. Rockefeller received 2,667; Harkness received 1,334; William Rockefeller, Flagler, and Andrews received … Her father, Franklin Tarbell, worked for Standard Oil and lived through what Ida called "hate, suspicion, and fear that engulfed the community." Originally serialized in nineteen parts in McClure's magazine, the book is a seminal example of muckraking, and inspired many other journalists to write about trusts, large businesses that (in the absence of strong antitrust laws in the 19th century) attempted to gain monopolies in various industries. The original book was a two-volume hardcover set. The Standard Oil Trust Agreement, signed by Rockefeller and nine other associates in 1882, states that companies involved in the agreement could be willfully created, dissolved, and divided. We also use third-party cookies that help us analyze and understand how you use this website. A 1904 editorial review from The New York Times relayed the highlights of the volumes to the public, noting the diplomatic tendencies of Tarbell within her work - still widely respectful of the achievements of John D. Rockefeller but critical of Standard Oil's business strategies that were unfair and of questionable legality. The company was created and built by John D. Rockefeller and his associates. [3], In 1999 a jury under the aegis of the New York University's journalism department selected The History of the Standard Oil Company as the fifth best work of journalism in the United States in the 20th Century. Standard Coal and Charcoal Company is founded by Irving Friedman offering customers superior quality Jeddo-Highland coal that burns longer with less ash. Rockefeller bought out Clark in 1865, and Henry M. Flagler became a partner in the venture in 1867. The Standard Oil Trust was formed in 1863 by John D. Rockefeller. Jared Cummans Jan 30, 2015 In the early 1900s, Standard Oil was one of the largest names in the world. Rogers' success in the oil industry began with Charles Pratt in 1866, when he invented the process by which naphtha was separated from crude oil, making oil refining possible. Today, the largest of these companies form the essence of the U.S. oil industry. Originally serialized in 19 parts in McClure's magazine, the book was… Standard Oil Company was incorporated in Ohio in 1870, but the company’s origins date to 1863, when John D. Rockefeller joined Maurice B. Clark and Samuel Andrews in a Cleveland, Ohio, oil-refining business. The government then sued the Standard Oil Company & Trust for violating the. _____ The American Oil & Gas Historical Society preserves U.S. petroleum history. With Vacuum Oil, Oil, Oil Company carries on today through various companies they owned! 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First synthetic motor Oil – Mobil 1™ several different companies and subsidiaries understand how you use website... Of Kentucky, Texaco, and as grease for wagons and tools into the Trust continued to operate from headquarters.