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 ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

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, ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.


Already a member? Login


CITE THIS PAGE:

John D. Rockefeller's Oil Empire. (2014, May 20). Retrieved January 20, 2018, from http://www.essayworld.com/essays/John-D-Rockefellers-Oil-Empire/104120
"John D. Rockefeller's Oil Empire." Essayworld.com. Essayworld.com, 20 May. 2014. Web. 20 Jan. 2018. <http://www.essayworld.com/essays/John-D-Rockefellers-Oil-Empire/104120>
"John D. Rockefeller's Oil Empire." Essayworld.com. May 20, 2014. Accessed January 20, 2018. http://www.essayworld.com/essays/John-D-Rockefellers-Oil-Empire/104120.
"John D. Rockefeller's Oil Empire." Essayworld.com. May 20, 2014. Accessed January 20, 2018. http://www.essayworld.com/essays/John-D-Rockefellers-Oil-Empire/104120.
JOIN NOW
Join today and get instant access to this and 50,000+ other essays


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

Save | Report

SHARE THIS PAPER

SAVED ESSAYS
Save and find your favorite essays easier

SIMILAR ESSAYS
John D. Rockefeller, Villain or...
John D. Rockefeller
John D. Rockefeller: Obsession ...
Accomplishments Of John D. Rock...
John D. Rockelfeller
What Is A Monopoly
Corporate Development During T
Corporate Development During Th...
Corporate Development During Th...
Teddy Bear
Copyright | Cancel | Contact Us

Copyright © 2018 Essayworld. All rights reserved