asked 117k views
4 votes
John D. Rockefeller monopolized the oil-refining business by __________.

asked
User Davit
by
7.8k points

1 Answer

7 votes

The correct answer is: creating trusts.

Rockefeller´s Standard Oil company bought up his competitors and created the US’s first monopoly. Combining many corporations into a trust meant that holders of stock from oil companies handed over their shares to Rockefeller and his associates as a board of trustees, getting in return ‘trust’ certificates which paid dividends without any power.

answered
User Tonttu
by
8.8k points
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