Standard Oil Company of California & Standard Gasoline 1:64th scale Greenlight Service Station
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Toy Talk with Logan Skeele
P.O. Box 508
Georgetown, KY 40324
The Standard Oil Company has a long and colorful history. It began in 1863, John D Rockefeller, at the age of 24, joined with the Clark brothers and a chemist, Samuel Andrews, and started an oil refinery in Cleveland, Ohio. Within two years Rockefeller bought ought his partners and named the refinery “Standard Works”.
By 1870 Rockefeller and his brother William, along with Andrews, Henry Flagler, Oliver Burr Jennings and Stephen Harkness formed a new company, the Standard Oil Company in Ohio.
In his introduction to the abridged Norton’s edition of Tarbell’s The History of the Standard Oil Company, historian David Chalmers wrote:
“John D. Rockefeller and his associates did not build the Standard Oil Company in the broad rooms of Wall Street Banks and investment houses, water their stock and rig the market. They fought their way to control by rebate and drawback, bribe and blackmail, espionage and price cutting, and perhaps even more important, by ruthless, never slothful efficiency of organization and production.”
During the 1870s–1890s, Standard Oil absorbed many oil companies and established regional companies across the USA. In 1882, Rockefeller consolidated his dominance by transforming Standard Oil into a trust. Nine trustees managed the corporation on behalf of all shareholders. In 1885 the trust moved to New Jersey and opened another office in New York to manage overseas activities.
The court ordered break up of Standard Oil Company really began in 1890 when Senator John Sherman of Ohio initiated an anti-trust law in Congress:
The Sherman Anti-Trust Act.
To dodge this act, the Standard Oil Trust changed its name to the Standard Oil Interests, and other adjustments. Standard retained the central power with a holding company.
Enter Ida Tarbell the “Lady Journalist” whose investigative journalism and book, led to the forced break up of one of the largest Companies in America.
The company history in 1904 was largely responsible for the disintegration of the company in 1911.
To sum up, there were three factors involved that caused the eventual break up of Standard Oil.
#1: The 1893 to 1897 depression, which hurt the middle and lower-income classes. Public sentiment turned against Trusts and monopolies. The public pushed the politicians to reign in Trusts and monopoly corporations.
#2: Ida Tarbell the “Lady Journalist” whose investigative journalism exposed the shady doings of Standard Oil.
#3: Standard Oil Company itself.
Theodore Roosevelt ran for the presidency in 1904 and won. A highlight of his agenda was to limit the reign of monopolies over the American economy.
His administration started an investigation into the activities of Standard Oil. In November 1906 U.S. Attorney General Charles Bonaparte filed an antitrust lawsuit against Standard Oil in a St. Louis federal court.
After three years of court proceedings, in 1909 a four-judge federal court panel ruled for the Attorney General’s suit and against Standard Oil.
The Sherman Anti-Trust Act was to be implemented.
Of course, Standard Oil appealed the case to the Supreme Court, which on May 15th 1911 upheld the federal court ruling. Chief Justice Edward White gave Standard Oil six months to dissolve itself as a single entity and be split into several companies with independent boards of management.
As I said in the beginning Standard oil has colorful history. I’ve only touched on a tiny segment of its history, there is much more.
I found the early history of Standard oil fascinating. I hope you did as well.
Toy Talk is hosted by Logan Skeele Founder of Advantage Diecast, LLC
⚠️ DISCLAIMER: This video is for educational and entertainment purposes. All specifications and historical information have been researched from multiple sources including company and/or manufacturer documentation, industry publications, and verified testimonials.
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