Standard Oil Co. Inc. was an American oil producing, transporting, refining, and marketing company. Established in by John D. Rockefeller and Henry Flagler as a corporation in Ohio, it was the largest oil refinery in the world of its time. Its history as one of the world's first and largest multinational corporations ended in , when. Der Moody's Analytics Daily Credit Risk Score stuft das Kreditrisiko durch Aktien- und Kursrisiken einzelner Unternehmen ein. In diesem Score werden Punkte von 1 bis 10 vergeben. 1 bedeutet ein.
Genauer um die Marktkapitalisierung in US-Dollar. Während Apple bis auf 90 Mrd. US-Dollar diese Marke heranrücken konnte, hat Alphabet noch einiges zu tun.
Dort fehlt noch eine knappe viertel Billion bis zu dieser Marke. Es wäre so oder so das erste Mal, dass ein Unternehmen diese gewaltige Summe Wert ist.
Der Kursverlauf hat sich zumindest in diesem Jahr deutlich von diesem Optimismus angesteckt gezeigt. Aber Alphabet sollte man nicht abschreiben. Dies wiederum dürfte der Aktie einen weiteren Schub verleihen. Ungeachtet der Battle um die Billion sind aber beide Unternehmen ein Basisinvestment für jeden langfristig orientierten Anleger. Die Marktstellung ist jeweils ganz besonders und operativ sind beide wahre Perlen. In der Reihe Aktien schreiben wir über Aktien, die im vergangenen Jahr für Schlagzeilen gesorgt haben — positiv wie negativ.
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Barton Hepburn was directed by the New York State Legislature in to investigate the railroads' practice of giving rebates within the state. Merchants without ties to the oil industry had pressed for the hearings. Prior to the committee's investigation, few knew of the size of Standard Oil's control and influence on seemingly unaffiliated oil refineries and pipelines - Hawke cites that only a dozen or so within Standard Oil knew the extent of company operations.
The committee counsel, Simon Sterne , questioned representatives from the Erie Railroad and the New York Central Railroad and discovered that at least half of their long-haul traffic granted rebates, and that much of this traffic came from Standard Oil.
The committee then shifted focus to Standard Oil's operations. He then admitted to being a director of Standard Oil. The committee's final report scolded the railroads for their rebate policies and cited Standard Oil as an example. This scolding was largely moot to Standard Oil's interests since long-distance oil pipelines were now their preferred method of transportation. In response to state laws trying to limit the scale of companies, Rockefeller and his associates developed innovative ways of organizing, to effectively manage their fast growing enterprise.
On January 2, ,  they combined their disparate companies, spread across dozens of states, under a single group of trustees. By a secret agreement, the existing 37 stockholders conveyed their shares "in trust" to nine trustees: Archbold , William G. Warden , Jabez Bostwick , and Benjamin Brewster. The law forbade every contract, scheme, deal, or conspiracy to restrain trade, though the phrase "restraint of trade" remained subjective.
The Standard Oil group quickly attracted attention from antitrust authorities leading to a lawsuit filed by Ohio Attorney General David K. Vice-president John Dustin Archbold took a large part in the running of the firm.
In , the US Justice Department sued the group under the federal antitrust law and ordered its breakup into 34 companies. Standard Oil's market position was initially established through an emphasis on efficiency and responsibility. While most companies dumped gasoline in rivers this was before the automobile was popular , Standard used it to fuel its machines. While other companies' refineries piled mountains of heavy waste, Rockefeller found ways to sell it.
For example, Standard created the first synthetic competitor for beeswax and bought the company that invented and produced Vaseline , the Chesebrough Manufacturing Co. One of the original " Muckrakers " was Ida M. Tarbell , an American author and journalist.
Her father was an oil producer whose business had failed due to Rockefeller's business dealings. After extensive interviews with a sympathetic senior executive of Standard Oil, Henry H. Rogers , Tarbell's investigations of Standard Oil fueled growing public attacks on Standard Oil and on monopolies in general.
The Standard Oil Trust was controlled by a small group of families. Rockefeller stated in These families reinvested most of the dividends in other industries, especially railroads. They also invested heavily in the gas and the electric lighting business including the giant Consolidated Gas Co. However, the deal fell through and the firm was sold to Royal Dutch Shell.
Standard Oil's production increased so rapidly it soon exceeded U. In the s, Standard Oil began marketing kerosene to China's large population of close to million as lamp fuel. Response was positive, sales boomed and China became Standard Oil's largest market in Asia. Prior to Pearl Harbor, Stanvac was the largest single U. For inland distribution the company had motor tank trucks and railway tank cars, and for river navigation it had a fleet of low-draft steamers and other vessels.
Stanvac's North China Division, based in Shanghai, owned hundreds of river going vessels, including motor barges, steamers, launches, tugboats and tankers.
Mei Hsia , a tanker, was specially designed for river duty and was built by New Engineering and Shipbuilding Works of Shanghai, who also built the ton launch Mei Foo in Mei Hsia "Beautiful Gorges" was launched in and carried tons of bulk oil in three holds, plus a forward cargo hold, and space between decks for carrying general cargo or packed oil. Mei Ping "Beautiful Tranquility" , launched in , was designed offshore, but assembled and finished in Shanghai.
Its oil-fuel burners came from the U. It explored in Palestine before the World War broke out, but ran into conflict with the British government. By , Standard Oil controlled 88 percent of the refined oil flows in the United States. The state of Ohio successfully sued Standard, compelling the dissolution of the trust in But Standard simply separated Standard Oil of Ohio and kept control of it. Eventually, the state of New Jersey changed its incorporation laws to allow a company to hold shares in other companies in any state.
The Epic Quest for Oil, Money, and Power , this conglomerate was seen by the public as all-pervasive, controlled by a select group of directors, and completely unaccountable. In , Standard controlled 91 percent of production and 85 percent of final sales. Most of its output was kerosene , of which 55 percent was exported around the world.
After it did not try to force competitors out of business by underpricing them. In , the US Department of Justice sued Standard under federal anti-trust law, the Sherman Antitrust Act of , for sustaining a monopoly and restraining interstate commerce by:. Rebates, preferences, and other discriminatory practices in favor of the combination by railroad companies; restraint and monopolization by control of pipe lines, and unfair practices against competing pipe lines; contracts with competitors in restraint of trade; unfair methods of competition, such as local price cutting at the points where necessary to suppress competition; [and] espionage of the business of competitors, the operation of bogus independent companies, and payment of rebates on oil, with the like intent.
The lawsuit argued that Standard's monopolistic practices had taken place over the preceding four years:. The general result of the investigation has been to disclose the existence of numerous and flagrant discriminations by the railroads in behalf of the Standard Oil Co.
With comparatively few exceptions, mainly of other large concerns in California, the Standard has been the sole beneficiary of such discriminations. In almost every section of the country that company has been found to enjoy some unfair advantages over its competitors, and some of these discriminations affect enormous areas. The government identified four illegal patterns: Almost everywhere the rates from the shipping points used exclusively, or almost exclusively, by the Standard are relatively lower than the rates from the shipping points of its competitors.
Rates have been made low to let the Standard into markets, or they have been made high to keep its competitors out of markets. Trifling differences in distances are made an excuse for large differences in rates favorable to the Standard Oil Co. Sometimes connecting roads prorate on oil—that is, make through rates which are lower than the combination of local rates; sometimes they refuse to prorate; but in either case the result of their policy is to favor the Standard Oil Co.
Different methods are used in different places and under different conditions, but the net result is that from Maine to California the general arrangement of open rates on petroleum oil is such as to give the Standard an unreasonable advantage over its competitors. The government said that Standard raised prices to its monopolistic customers but lowered them to hurt competitors, often disguising its illegal actions by using bogus supposedly independent companies it controlled.
The evidence is, in fact, absolutely conclusive that the Standard Oil Co. It ordered Standard to break up into 34 independent companies with different boards of directors, the biggest two of the companies were Standard Oil of New Jersey which became Exxon and Standard Oil of New York which became Mobil. Standard's president, John D. Rockefeller, had long since retired from any management role. But, as he owned a quarter of the shares of the resultant companies, and those share values mostly doubled, he emerged from the dissolution as the richest man in the world.
Over the next few decades, both companies grew significantly. Jersey Standard, led by Walter C. Teagle , became the largest oil producer in the world.
Socony purchased a 45 percent interest in Magnolia Petroleum Co. In , Socony merged with Vacuum Oil Co. In the Asia-Pacific region, Jersey Standard had oil production and refineries in Indonesia but no marketing network.
Socony-Vacuum had Asian marketing outlets supplied remotely from California. In , Jersey Standard and Socony-Vacuum merged their interests in the region into a 50—50 joint venture. The original Standard Oil Company corporate entity continues in existence and was the operating entity for Sohio ; it is now a subsidiary of BP.
Supreme Court ruled in that antitrust law required Standard Oil to be broken into smaller, independent companies. Among the "baby Standards" that still exist are ExxonMobil and Chevron. Critics claimed that success in meeting consumer needs was driving other companies out of the market who were not as successful.
An example of this thinking was given in when Rep. William Mason, arguing in favor of the Sherman Antitrust Act, said: The Sherman Antitrust Act prohibits the restraint of trade. Defenders of Standard Oil insist that the company did not restrain trade; they were simply superior competitors. The federal courts ruled otherwise. Some economic historians have observed that Standard Oil was in the process of losing its monopoly at the time of its breakup in Although Standard had 90 percent of American refining capacity in , by that had shrunk to between 60 and 65 percent, due to the expansion in capacity by competitors.
In addition, demand for petroleum products was increasing more rapidly than the ability of Standard to expand. The result was that although in Standard still controlled most production in the older regions of the Appalachian Basin 78 percent share, down from 92 percent in , Lima-Indiana 90 percent, down from 95 percent in , and the Illinois Basin 83 percent, down from percent in , its share was much lower in the rapidly expanding new regions that would dominate U.
In Standard controlled only 44 percent of production in the Midcontinent, 29 percent in California, and 10 percent on the Gulf Coast. Some analysts argue that the breakup was beneficial to consumers in the long run, and no one has ever proposed that Standard Oil be reassembled in pre form.
Since the breakup of Standard Oil, several companies, such as General Motors and Microsoft , have come under antitrust investigation for being inherently too large for market competition; however, most of them remained together. The successor companies from Standard Oil's breakup form the core of today's US oil industry. Several of these companies were considered among the Seven Sisters who dominated the industry worldwide for much of the 20th century. Standard Oil of Colorado was not a successor company; the name was used to capitalize on the Standard Oil brand in the s.
Standard Oil of Connecticut is a fuel oil marketer not related to the Rockefeller companies. Of the 34 "Baby Standards", 11 were given rights to the Standard Oil name, based on the state they were in. Conoco and Atlantic elected to use their respective names instead of the Standard name, and their rights would be claimed by other companies.
By the s, most companies were using their individual brand names instead of the Standard name, with Amoco being the last one to have widespread use of the "Standard" name, as it gave Midwestern owners the option of using the Amoco name or Standard. Three supermajor companies now own the rights to the Standard name in the United States: ExxonMobil , Chevron Corp. Likewise, BP continues to sell marine fuel under the Sohio brand at various marinas throughout Ohio.
ExxonMobil keeps the Esso trademark alive at stations that sell diesel fuel by selling "Esso Diesel" displayed on the pumps. ExxonMobil has full international rights to the Standard name, and continues to use the Esso name overseas and in Canada. To protect its trademark Chevron has one station in each state it owns the rights to branded as Standard. Over time, Chevron has changed which station in a given state is the Standard station. BP station with "torch and oval" Standard sign in Durand, Michigan.
BP continues to sell marine fuel under the Sohio brand at various marinas on Ohio waterways and in Ohio state parks in order to protect its rights in the Sohio and Standard Oil names. From Wikipedia, the free encyclopedia. This article is about an oil company that was dissolved in For successor companies with similar names, see Standard Oil disambiguation. Harkness , initial investor Henry M. Flagler , Senior Executive John H. Swearingen , President John D.
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