USA HISTORY

Detailed explanation-1: -Overly zealous and confident, Rockefeller walked into the meeting demanding a substantially lower shipping rate. In exchange, he agreed to fill Vanderbilt’s trains with 60 barrels / day, a quantity more than double what he was able to produce on his own.

Detailed explanation-2: -Rockefeller threatens to take his oil elsewhere, but Scott’s railroad is the only one from Pittsburgh to New York. Because of this, Rockefeller shuts down the Pittsburgh refineries entirely. Scott has to lay off many of his workers and reduce wages, causing his workers to protest. Eventually, Scott loses his company.

Detailed explanation-3: -Rockefeller created America’s first monopoly. Vanderbilt realized that Rockefeller was too powerful and decided to “take him down.” How did Vanderbilt try to accomplish this ? He went to Mr. Tom Scott, his competitor, and decided together to pull all of Rockefeller’s deals.

Detailed explanation-4: -Creating a monopoly In addition to wielding his large cash reserves, Rockefeller struck a secret deal with the three major railroads serving Cleveland known as “the South Improvement Company.”