WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
ROBBER BARONS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
oil
|
|
|
steel
|
|
|
communication
|
|
|
railroad
|
Detailed explanation-1: -In June 1870, John D. Rockefeller amalgamated a number of his companies to create what would become one of the world’s most powerful and influential organizations in Standard Oil. Standard Oil was a petroleum producing, refining, and transporting corporation based out of Cleveland, OH.
Detailed explanation-2: -John D. Rockefeller founded the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Later in life he turned his attention to charity. He made possible the founding of the University of Chicago and endowed major philanthropic institutions.
Detailed explanation-3: -In 1882, Rockefeller ended competition in the oil industry by forming the Standard Oil Trust, where Rockefeller gained control of over 90% of the oil refining in the country!