THIS DAY IN HISTORY:
US Supreme Court Declares Standard Oil an "Unreasonable" Monopoly (1911)
By 1880, through elimination of competitors, mergers, and railroad rebates, John D. Rockefeller's Standard Oil controlled the refining of up to 95 percent of all oil produced in the US. In 1892, the Ohio Supreme Court ordered the trust dissolved, but it continued to operate. Exposed in Ida Tarbell's History of the Standard Oil Company in 1904, it was broken up in 1911 after a lengthy antitrust suit by the US government.
