What did Standard Oil break up into? In 1911, following the Supreme Court ruling, Standard Oil was broken into seven successor companies; Standard Oil of New Jersey, Standard Oil of New York, Standard Oil of California, Standard Oil of Indiana, Standard Oil of Kentucky, The Standard Oil Company (Ohio), and The Ohio Oil Company.
What 34 companies did Standard Oil breakup into?
|Type||Cleveland, Ohio Corporation (1872) Business trust (1882–1892) New Jersey Holding Company (1899–1911)|
|Fate||After its dissolution in 1911, the original Standard Oil Co. split into Sohio (now part of BP); ESSO (now Exxon); and SOcal (now Chevron)|
|Successor||34 successor entities|
Why did Roosevelt break up Standard Oil? In November 1906, the Roosevelt administration subjected Standard Oil to a “good sweating” when it brought suit against the company under the Sherman Antitrust Act of 1890, for conspiring to restrain trade. The case: over two years. called 444 witnesses.
What did the Standard Oil Company do wrong? The Department of Justice filed a federal antitrust lawsuit against Standard in 1909, contending that the company restrained trade through its preferential deals with railroads, its control of pipelines and by engaging in unfair practices like price-cutting to drive smaller competitors out of business.