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How John D. Rockefeller dominated the Oil Industry for 50 years


9. Chronology
1870 The  Standart Oil Company is founded by   John D. Rockfeller in Cleveland, Ohio. The refining industry is at this time decentralised, and Rockefeller's share of the refined oil business is less than 4%, with more thatn 250 competitors in the US.
1870 John D. Rockefeller and  Flagler start the  South Improvement Company to pool oil transportation on railroads, letting those who take part in the scheme to get incredibly cheap rates.

1873 John D. Rockefeller already controls 80% of the refining capacity of Cleveland, which makes a third of the national's total.
1879 The Standart Oil Trust shuts down 31 of the 53 refineries owned by the Standard Oil and concentrate production in 3 giant refineries. 
1880 Standart Oil controls almost every refinery in the US and has more than   $40 mio in cash.
1882 The alliance of all the companies that made the  Standart Oil is transformed into the  Standart Oil Trust, the first big trust in the USA. The shareholders of the 14 companies and minority shareholders of a further 26 hand in their bonds and shares to 9 trustees and get in exchange $70 mio in trust certificates. The trustees   control the company and pay dividend to the holders of these certificates.
1882 An Ohio court dissolve the trust, but it is reincorporated in New Jersey, a state that accepts trusts. The trustees leave their initial horizontal integration concept and work for a total vertical integration.
1890 Congress votes the Sherman Antitrust Act and the Standart is again reincorporated, this time in New Jersey as a holding.
1900 The Standard Oil controls more than 90% of the refined oil in the  USA
1911 The Supreme Court decides the break up of the  Standard Oil in smaller, competing companies.

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