WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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U.S. Standard Oil
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Carnegie Steel
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U.S. Steel
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Union Pacific Railroad
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Detailed explanation-1: -First as a partnership, then organized as a corporation in 1870, Rockefeller and associates’ Standard Oil Company proceeded to achieve what was later termed the conquest of Cleveland. Using tactics that one could define as either shrewd or unethical, Rockefeller succeeded in dominating the Cleveland refining business.
Detailed explanation-2: -John D. Rockefeller formed the Standard Oil Company on January 10, 1870 with his business partners and brother. The success of this business empire made Rockefeller one of the world’s first billionaires and a celebrated philanthropist. He garnered both admirers and critics during his lifetime and after his death.
Detailed explanation-3: -In 1870, Rockefeller formed the Standard Oil Company of Ohio, along with his younger brother William (1841-1922), Henry Flagler (1830-1913) and a group of other men. John Rockefeller was its president and largest shareholder.
Detailed explanation-4: -Well known companies included General Mills, Kellogg, Nestle, Bristol-Myers Squibb, Procter and Gamble, Roche and Hoechst (Sanofi-Aventis). The Rockefeller empire, in tandem with Chase Manhattan Bank (now JP Morgan Chase), owns over half of the pharmaceutical interests in the United States.