Growth and Transformati20

Growth and Transformati20 - GrowthandTransformation

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Growth and Transformation After two great wars, the United States comes of age The Standard Oil Company, founded by John D. Rockefeller, was one of the earliest and  strongest corporations, and was followed rapidly by other combinations – in cottonseed  oil, lead, sugar, tobacco, and rubber. Soon aggressive individual businessmen began to  mark out industrial domains for themselves. Four great meat packers, chief among them  Philip Armour and Gustavus Swift, established a beef trust. Cyrus McCormick achieved  preeminence in the reaper business. A 1904 survey showed that more than 5,000  previously independent concerns had been consolidated into some 300 industrial trusts. The trend toward amalgamation extended to other fields, particularly transportation and  communications. Western Union, dominant in telegraphy, was followed by the Bell  Telephone System and eventually by the American Telephone and Telegraph Company. 
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