ROCKEFELLER 



5041 



ROCKEFELLER FOUNDATION 



Samuel Andrews, a prosperous oil refiner, in 

 1862, he organized the firm of Andrews, Clark & 

 Company, beginning then to formulate the 

 policy that was destined to earn him a huge 

 fortune. This 

 policy was the 

 wiping out of 

 competition in 

 the oil field. 



The firm's name 

 was changed to 

 William Rocke- 

 feller & Company 

 in 1865, when a 

 younger brother 

 was taken into 

 partnership, and JOHN D. ROCKEFELLER 

 a npw oil refinerv The world's only billion- 

 JS aire. Within recent years he 

 the Standard Oil testified in court that he did 

 Ttr,i, , K,,;u not know the amount of his 

 \\orks, was built. wea lth, for the reasons that 

 Subsequent con- It increased so rapidly and 

 that values of stocks were 

 sohdations, in- constantly changing. In 1915 



i ,1 his riches were carefully es- 



volvmg the anm- timate d at over $900,000,000 ; 

 hilation of com- in 1916, when unprecedented 

 ,, expansion in trade and rise 

 petition in the oil of stock values occurred, ow- 

 ;^,, e , i, ,,~k In ff to war demands for 

 industry through- Amerlcan goo ds, he became a 



out the country, billionaire, 

 resulted in the organization of the Standard 

 Oil Company, in 1882. Though this gigantic 

 corporation was technically dissolved in 1892, 

 its affairs continued to be managed from a cen- 

 tral New York office. Finally, in May, 1911, 

 the United States Supreme Court ordered its 

 complete dissolution on the ground that a com- 

 bination in restraint of trade existed. 



The chief organizer of this mammoth busi- 

 ness retired from active labors in 1911, and 

 thereafter devoted the greater part of his time 

 to philanthropic enterprises which he had been 

 developing for many years. In all, Rockefeller 

 has contributed nearly $90,000,000 of his for- 

 tune to the public welfare. He has given $43,- 

 000,000 to the General Education Board for the 

 purpose of aiding American schools and colleges 

 to maintain high standards ; the Southern Edu- 

 cation Board has received about $1,126,000, to 

 be used in the South. His gifts to the Uni- 

 versity of Chicago total over $23,000,000, and 

 Harvard and Yale have each received $1,000,- 

 000. To Vassar have been donated a $100,000 

 building. 3,000 volumes on Greek art and litera- 

 ture and various gifts in money, and to Barnard 

 College a fund of $1,375,000. The Rockefel- 

 ler Institute for Medical Research, in New 

 York, has been endowed with $1325,000, and 

 in HU.1 the state legislature of New York 

 316 



JOHN D. ROCKEFELLER, 



i bill for the incorporation of the 

 Rockefeller Foundation (which see), to con- 

 trol $100,000,000 to be used for the advance- 

 ment of civilization throughout the world. 

 Many other generous gifts have been made to 

 various colleges, churches and missions. See, 

 also, STANDARD OIL COMPANY. 



John Davison Rockefeller Jr. (1874- ), son 

 of the founder of the Standard Oil Company, 

 was born in Cleveland. After his graduation 

 from Brown University (1897), he became an 

 associate of his father in business, and became 

 director in vari- 

 ous large corpo- 

 rations. Philan- 

 thropy and reli- 

 gious work have 

 claimed much of 

 his time and in- 

 terest ; for several 

 years he has 

 taught a Sunday- 

 school class in 

 New York City 

 that has one of J R - 



the largest enrolments in the world. In 1913 

 he founded, near New York, an institution for 

 the rescue and assistance of unfortunate women. 



William Rockefeller (1841- ), brother of 

 John D., Sr., was born at Richford, N. Y. 

 After engaging in the produce commission busi- 

 ness he associated himself with his brother in 

 oil refining at Cleveland, and between 1865 

 and 1911 was in charge of the New York busi- 

 ness of the Standard Oil Company of New 

 Jersey. He also had a share in the manage- 

 ment of various banks and trust companies, 

 railroads, mining corporations and gas and elec- 

 tric companies. B.M.W. 



ROCKEFELLER FOUNDATION, the great- 

 est philanthropic trust in the history of the 

 world, incorporated in May, 1913, by the New 

 York legislature. The original endowment, con- 

 sisting of one hundred million dollars, the gift 

 of John D. Rockefeller, was made to provide 

 an income through which the well-being of 

 mankind" should be promoted throughout Ihe 

 world. In May, 1917, a new donation of $25,- 

 000,000 was announced. The numerous activi- 

 ties of the Foundation since its incorporation 

 meliidc the organisation of a successful fight 

 against the hookworm disease (see HOOK- 

 WORM . the establishment of a medical com- 

 mission in China to extend medical education 

 in tli.it country and to raise the health stand- 

 ards of the people; the creation of a commit- 



