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Industrial Revolution
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John D. Rockefeller After the reorganization, Standard Oil Company of New Jersey, which was founded as part of the trust in 1882, became the largest Standard Oil corporation. In 1892 it was renamed Standard Oil Company (New Jersey), often referred to as Jersey Standard. Jersey Standard became the sole holding company for all of Standard Oil in 1899. However, in 1911 the Supreme Court of the United States ruled that Standard Oil had continued to act as a monopoly. The Court’s antitrust ruling forced all of the Standard Oil companies to become independent businesses. That year Rockefeller, at age 72, retired as president of Standard Oil. At its peak, Rockefeller's personal fortune was estimated at almost $1 billion.
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Paper Information
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Title: Industrial Revolution
Words: 535
Rating: None
Pages: 2.1
submitted by: Erikamsu2006
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