Respuesta :
Answer:
Cleveland Massacre was a step towards oil monopoly and was initiated by John Rockefeller.
Explanation:
Introduction: John with his business partner started a shipping company. After sometime, they realized to expand their investment so they invested their money crude oil company. At that time, they were the owners of two oil companies.
Massacre end: to make an edge in this business, he started shipping at the discount prices that could not last long his business. So, the business collapsed itself. In 1872, he just ended up the Cleveland massacre.
Positive edge: soon the Cleveland massacre ended, John established its enough strong position in the market as he controls 25% of the shipping of oil to the standard oil companies at best bargained prices.
Monopoly: after this clear position in the market, he did not stop. He started a network of pipelines in 1874. John started buying shares of other companies to claim its ownership over them and soon the Standard oil company ownership was in his hands. And then by the ends of 1880, he created and oil monopoly.
Allegation: he created the first ever industrial monopoly. So according to the violation of charter named Ohio, he was banned for the shipping of its oil outside the state. Therefore in New York he started shipping oil under the name of “trust”.
Answer Detail:
Level: High School
Subject: History
Keywords:
• Monopoly
• Massacre
Learn more to evaluate:
Monopoly: https://brainly.com/question/8411284
The Cleveland massacre was a massacre step towards oil monopoly and was initiated by John Rockefeller.
Further Explanations:
The Cleveland Massacre was a three-month conflict between the Standard Oil Company and the oil refineries of Cleveland over the authority of the oil fields. The conflict took place in 1872 and within six months the Standard Oil was able to acquire 22 out of 26 oil refineries at a very lower rate.
The standards were the largest refiner of the United States with much of the cash reserve. The credit of the acquisition goes to John D Rockefeller who able to convince his competitors to sell their refineries within a week which was a result of a secret agreement was signed with the South Improvement Company. Though the South Improvement Company got dissolved before it came to existence and this created a panic among the refineries of the Cleveland.As a result of it, Cleveland refineries were sold at a very lower rate.
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Answer Details:
Grade: High school
Subject: US History
Chapter: Cleveland Massacre
Keywords: Cleveland Massacre, Standard Oil Company, oil refineries, refiner, United States, John D Rockefeller, South Improvement Company, standards, competitors, refineries
