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John D. Rockefeller monopolized the oil-refining business by __________.

User Davit
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1 Answer

7 votes

The correct answer is: creating trusts.

Rockefeller´s Standard Oil company bought up his competitors and created the US’s first monopoly. Combining many corporations into a trust meant that holders of stock from oil companies handed over their shares to Rockefeller and his associates as a board of trustees, getting in return ‘trust’ certificates which paid dividends without any power.

User Tonttu
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