Online Encyclopedia

Search over 40,000 articles from the original, classic Encyclopedia Britannica, 11th Edition.

ROCKEFELLER, JOHN DAVISON (i839— )

Online Encyclopedia
Originally appearing in Volume V23, Page 433 of the 1911 Encyclopedia Britannica.
Spread the word: del.icio.us del.icio.us it!

See also:

ROCKEFELLER, See also:JOHN See also:DAVISON (i839— ) , See also:American capitalist, was See also:born in Richford, Tioga See also:county, New See also:York, on the 8th of See also:July 1839. In 1853 his See also:family removed to See also:Ohio, living after 1857 in See also:Cleveland, where Rockefeller had begun to See also:work as a bookkeeper in 1855 and where in 1858 he went into the produce See also:commission business. His See also:firm, See also:Clark & Rockefeller, in 1862 invested in an oil refinery, planned by See also:Samuel See also:Andrews, and in 1865 Rockefeller sold out his See also:share to his partner Clark, bought for $72,500 a larger share in another refinery, and formed the See also:partnership of Rockefeller & Andrews. At about the same See also:time another refinery was started by Rockefeller's See also:brother See also:William (b. 1841), but in 1867 Rockefeller & Andrews absorbed this business, and See also:Henry M. Flagler was added to the partner-See also:ship. In 187o the two Rockefellers, Flagler, Andrews and a refiner named See also:Stephen V. See also:Harkness formed the See also:Standard Oil See also:Company, with a See also:capital of $1,000,000 (increased in 1872 to $2,500,000 and in 1874 to $3,500,000), of which John D. Rockefeller was See also:president. This See also:great See also:corporation gradually established itself in See also:practical See also:control of the oil See also:production in See also:America, by means of business methods and See also:financial operations which have been severely criticized, but which brought immense See also:wealth to those concerned. Its capital was further increased in 1882, when See also:separate companies were organized in each See also:state; and in later years, as the first great American " See also:trust," the Standard Oil Company was hotly attacked during the See also:anti-trust See also:movement (see INTER-STATE See also:COMMERCE). Into the merits of this question it is impossible to enter here.

Rockefeller himself retired from active business in 1895; he had for a time large See also:

iron interests (mines and ore-carrying vessels) on See also:Lake See also:Superior, which he sold to the See also:United States See also:Steel Corporation, and his See also:personal wealth was probably greater than that of any other See also:man in the See also:country. In private See also:life he was a devoted member of the Baptist See also:church, and his benefactions were numerous. To " the University of See also:Chicago founded by John D. Rockefeller " (in 1892) he had given, up to 1910, $24,809,666, while to the See also:General See also:Education See also:Board he had given $43,000,000; he founded (Igor) and supported the Rockefeller See also:Institute for Medical See also:Research in New York See also:City; he gave large sums to See also:Rush Medical See also:College in Chicago, to Johns See also:Hopkins See also:Hospital in See also:Baltimore, to See also:Barnard College in New York City and to the Baptist Missionary Society; and in 1909 he gave $1,000,000 to endow a medical commission to investigate the nature of the See also:hook-See also:worm and to suppress the hook-worm disease. See See also:Ida M. See also:Tarbell's See also:History of the Standard Oil Company (New York, 1903), a severe attack on the Trust; also his own See also:Random Reminiscences (1909).

End of Article: ROCKEFELLER, JOHN DAVISON (i839— )

Additional information and Comments

There are no comments yet for this article.
» Add information or comments to this article.
Please link directly to this article:
Highlight the code below, right click, and select "copy." Then paste it into your website, email, or other HTML.
Site content, images, and layout Copyright © 2006 - Net Industries, worldwide.
Do not copy, download, transfer, or otherwise replicate the site content in whole or in part.

Links to articles and home page are always encouraged.

[back]
ROCK, DANIEL (1799–187t)
[next]
ROCKET