1. The Captains of Industry

2. Trusts
Trusts: A single business of share holders which controls an entire industry (a monopoly)

3. Standard Oil Co.
John D. Rockefeller
Henry M. Flagler

4. Horizontal Integration

5. Oil Refining

6. Control of the Market Standard Oil controlled 95% of the Oil Market.
Prices were cut to prevent competition.
Helped greatly by the creation of the automobile.

7. Standard Oil Stock

8. How BIG was standard Oil?

9. Standard oil Develops Florida

10. Carnegie Steel
1. Created by Andrew Carnegie, a Scottish Immigrant. 2. Based out of Pittsburgh, PA 3. Used the “Bessemer Process” to create the strongest steel in the world.

11. Vertical Integration
1. Carnegie believes in owning every step of production, to eliminate the “middle man”.
2. Reduced costs, lower the price of his steel.
3. Controlled 25% of the world’s steel market.

12. John Pierpont (JP) Morgan
1. Financier, who made his fortune investing in the Trusts. 2. Used “interlocking directories” of joint share holders on multiple Corporate Boards. 3. Spends $400 million to buy Carnegie Steel. 4. Becomes 1st Billionaire by creating 1st Billion $ Company, US Steel.