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Standard Oil (Refinery No. 1 in Cleveland, Ohio, pictured) was a major company broken up under United States antitrust laws.. The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history.
Over the course of the 1870s, the Standard Oil Company of Ohio acquired a monopoly on oil refining in the United States. [2] The Cleveland-based company was already among the largest refiners in the United States at the start of the decade, but it controlled only about four percent of the market. [2]
John D. Rockefeller c. 1872, shortly after founding Standard Oil. Standard Oil's prehistory began in 1863, as an Ohio partnership formed by industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, silent partner Stephen V. Harkness, and Oliver Burr Jennings, who had married the sister of William Rockefeller's wife.
11. Thurn and Taxis Mail. The private company operated postal service back in the 1800s and enjoyed a monopoly on postal services. The company's dominance came to an end after Prussian victory ...
The Ohio Company's purchase was enabled first by the passage on July 13, 1787, of the "Ordinance for the Government of the Territory of the United States Northwest of the River Ohio," commonly known as the Northwest Ordinance, and second, by the Act of October 23, 1787, which authorized Congress to make contracts of public lands for not less ...
There were legal efforts to curtail the oil monopoly in the Midwest and South. Tennessee, Illinois, Kentucky and Kansas took the lead in 1904–1905, followed by Arkansas, Iowa, Maryland, Minnesota, Mississippi, Nebraska, Ohio, Oklahoma, Texas, and West Virginia.
Congress reacted in 1914 by passing two new laws: the Clayton Act, which outlawed using mergers and acquisitions to achieve monopolies and created an antitrust law exemption for collective bargaining; and the Federal Trade Commission Act, which created the Federal Trade Commission (FTC) as an independent agency that has shared jurisdiction with ...
Springfield, Ohio (Reuters) -Rose Joseph and Banal Oreus followed different paths from Haiti to this struggling Midwestern industrial city that suddenly finds itself at the center of the U.S ...