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John D. Rockefeller's Oil Empire - College Term Paper

John D. Rockefeller's Oil Empire

John D. Rockefeller was born July 8, 1839, in Richford, New York. His mother first taught John to work, save, and give to charities. Thanks to this, by the age of 12, he had saved over $50 from working for neighbors and raising some turkeys for his mother. At the urging of his mother, he loaned a local farmer $50 at 7% interest payable in one year. When the farmer paid him back with interest the next year, Rockefeller was impressed. This was the beginning of his success.

From 1852 Rockefeller attended Owego Academy in Owego, New York, where the family had moved in 1851. Rockefeller excelled at mental arithmetic and was able to solve difficult arithmetic problems in his head, a talent ...

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and Rockefeller could easily visit every business in under a week's time. He returned to many businesses three times. Finally, on September 26, 1855, he got a job as an assistant bookkeeper with Hewitt & Tuttle, commission merchants and produce shippers.

Rockefeller soon impressed his employers with his seriousness and diligence. He was very exacting and scrupulously honest; for example, he would not write out a false bill of lading under any circumstances. He went to great lengths to collect overdue accounts. He was pleasant, persistent, and patient, and he got the company's money from the delinquents. For all this work, he was not well paid. But whatever he was paid, he always gave to his church and local charities.

On August 27, 1859, Edwin Drake struck oil near Titusville, Pennsylvania, setting off a frenzied oil boom in what soon became known as the "oil regions" of northwestern Pennsylvania. The technology for drilling wells was quite advanced by 1859. To that time, ...

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John D. Rockefeller's Oil Empire. (2014, May 20). Retrieved December 23, 2024, from http://www.essayworld.com/essays/John-D-Rockefellers-Oil-Empire/104120

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PAPER DETAILS

Added: 5/20/2014 05:10:39 AM
Submitted By: portablemiah
Category: American History
Type: Premium Paper
Words: 1045
Pages: 4

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