Oil Industry Development
Citations (1)
- Titan: The Life of John D. Rockefeller, Sr. whole source · open book
In his testimony, Rockefeller supplied for the first time the Standard Oil trust agreement that had been drawn up in 1882; named the eight current trustees; revealed that the trust now had seven hundred shareholders; and, most startling of all, listed forty-one companies that belonged to the trust— many of which had never publicly disclosed this association before. To refute the notion that Standard Oil was a monopoly, Rockefeller submitted a list of 111 competing refineries and gave his own stirring account of spirited competition from Russian oil.
chapter: CHAPTER 16 - A Matter of Trust