The Valley’s venture investors were typically Boston merchant princes, men such as Israel Thorndike, S. A. Eliot, Samuel Cabot, Francis Stanton, and Harrison Gray Otis. Edmund Dwight, a Morgan cousin on his mother’s side, wasn’t in the same financial stratum as a Cabot, but gained access through his work at the law firm of Fisher Ames, the old Mass

Thus not only does democracy make every man forget his ancestors, but it hides his descendants and separates his contemporaries from him; it throws him back forever upon himself alone and threatens in the end to confine him entirely to the solitude of his own heart.

A typical ploy was to open his books to the target: any sensible man would understand that competition was hopeless and make a deal. If a target was especially obdurate, rejecting all reasonable offers, a switch would finally turn and Rockefeller would suddenly unleash total, blazing warfare on every front—price, supplies, access to transportation,

But his misdeeds were not the reason he conquered his industry: he won because he was faster in apprehension and more deadly in execution than any of his contemporaries.

The Standard’s commitment to long-distance pipelines was the beginning of the end of the railroads’ dominant role in petroleum transport. Rockefeller began to negotiate what were effectively reverse-rebate arrangements, guaranteeing the roads minimum returns for maintaining their oil-shipping facilities whether or not he used them. The last step in

By the 1890s train speeds were at least as fast as they are now, and there were a host of “express” companies that handled the shipping from a merchant’s loading bay through the rail network to the customer’s front door, through networks of local contractors managed by telegraph. In most parts of the country, people could count on thirty-day or bet

Trustbusters thought they were slaying a dangerous monster when the Standard was broken up in 1911; instead, they were doing the shareholders, and especially John Rockefeller, a large favor. Once the stock of the individual companies were listed in their own names, and they could compete freely, their market values multiplied many times over, and R

I never had much respect for Tom Scott’s ability to accomplish any great undertaking. He can give everybody a Pass, and get them to say he is a “big Injun” and good fellow—but he is not the man to lay down a Hundred or Two Hundred Thousand Dollars Cash, to carry a scheme of his own. . . . [Gould is] the reverse of Scott; he is a one man power; cons

1880, when sales soared past the 500,000 mark and Singer suddenly found himself in replacement-parts hell. At his company’s rate of growth, the world couldn’t supply the craftsmen to keep up with his service and repair requirements. Other companies, like McCormick and the Ball Glass Co., faced up to their problems at about the same time as Singer,