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Big Business in the early 20th century

Big Business in the early 20th century. Rockefeller, Vanderbilt, Carnegie and J.P Morgan. Cornelius Vanderbilt. Cornelius Vanderbilt. Cornelius Vanderbilt. Railroad baron - 1870’s. Bought up RR lines. Forced smaller RR owners to sell to him. Owned most lines between NY and Chicago.

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Big Business in the early 20th century

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  1. Big Businessin the early 20th century Rockefeller, Vanderbilt, Carnegie and J.P Morgan

  2. Cornelius Vanderbilt

  3. Cornelius Vanderbilt

  4. Cornelius Vanderbilt • Railroad baron - 1870’s • Bought up RR lines • Forced smaller RR owners to sell to him • Owned most lines between NY and Chicago

  5. Cornelius Vanderbilt • What advantages did he create for his business? • Was it legal? • What is is called when one company • owns, runs all of the parts of an • industry

  6. John D. Rockefeller

  7. John D. Rockefeller

  8. John D. Rockefeller

  9. John D. Rockefeller • oil baron - 1880’s & 90’s • Bought up oil refineries • Realized U.S. would become dependent on oil • Largest, most powerful oil company - Standard Oil

  10. John D. Rockefeller • What are some of the oil companies today? • What would happen if there were • only one company? • What do we call it when prices • increase,value of money decreases

  11. Andrew Carnegie

  12. Andrew Carnegie

  13. Andrew Carnegie • steel baron - 1890’s • Bought up iron mines, steel mills, RR and steamship lines, warehouses • Vertical integration - controlling all phases of an industry - from raw material to finished product

  14. Andrew Carnegie • What is the advantage of vertical integration?

  15. J. P. Morgan

  16. J. P. Morgan

  17. J. P. Morgan • banking baron - 1890’s • Controlled banks, corporations • Would buy up shares in struggling companies and then take over • By 1890’s owned most of the steel, rail companies

  18. PHILANTHROPY Have you ever heard of any present-day institutions which have the name • Vanderbilt? • Carnegie? • Rockefeller? • Morgan?

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