Standard Oil Trust was forced to dissolve due to violations of the Sherman Antitrust Act due to being accused of being an illegal monopoly.
FAIRFAX, VA, UNITED STATES, March 1, 2021 /EINPresswire.com/ — Scripophily.com ®, the Internet’s largest buyer and seller of collectible stock and bond certificates, has seen considerable interest in the acquisition of Standard Oil Trust stock certificates signed by John D. Rockefeller and Henry Flagler.
The Standard Oil Trust stock certificates were issued in 1882 and were printed by the Franklin Bank Note Company. The certificate was hand signed by John. D. Rockefeller, Henry Flagler and Jabez Abel Bostwick and is over 139 years old.
"The Standard Oil Trust began in 1882 by merging all of John. D. Rockefeller's oil properties and had an initial capital of $70 million. There were originally forty-two certificate holders, or owners, in the trust. After ten years the trust was dissolved by a court decision in Ohio due to violation of the Sherman Antitrust Act which was an attempt to restrain the power of trusts with respect to restraint of trade or commerce." according to Bob Kerstein, CEO Scripophily.com.
Standard Oil Trust lost a Sherman-related lawsuit in Ohio in 1892, but it was later able to incorporate in New Jersey as a holding company when New Jersey had adopted a law that permitted a parent company to own the stock of other companies. It is estimated that Standard Oil owned three-fourths of the petroleum business in the U.S. in the 1890s.
Rockefeller held the title of president of Standard Oil until 1911, but he retired from active leadership of the company in 1896. In 1911 the U.S. Supreme Court found the Standard Oil trust to be in violation of the anti-trust laws and ordered the dissolution of the parent New Jersey corporation. The thirty-eight companies which it then controlled were separated into individual firms.
Some of these spin off companies included:
Standard Oil of New Jersey (SONJ) – or Esso (S.O.) – renamed Exxon, now part of ExxonMobil. Standard Trust companies Carter Oil, Imperial Oil (Canada), and Standard of Louisiana were kept as part of Standard Oil of New Jersey after the breakup.
Standard Oil of New York – or Socony, merged with Vacuum – renamed Mobil, now part of ExxonMobil.
Standard Oil of California – or Socal – renamed Chevron, became ChevronTexaco, but returned to Chevron.
Standard Oil of Indiana – or Stanolind, renamed Amoco (American Oil Co.) – now part of BP.
Standard's Atlantic and the independent company Richfield merged to form Atlantic Richfield or ARCO, recently part of BP but has since been sold to a Japanese company. Atlantic operations were spun off and bought by Sunoco.
Standard Oil of Kentucky – or Kyso was acquired by Standard Oil of California – currently Chevron.
Standard Oil of Ohio – or Sohio, acquired by BP in 1987.
The Ohio Oil Company – or The Ohio, and marketed gasoline under the Marathon name. The company is now known as Marathon Petroleum, and was often a rival with the in-state Standard spinoff, Sohio.
Other Standard Oil spin-offs:
Standard Oil of Iowa – pre-1911 – became Standard Oil of California.
Standard Oil of Minnesota – pre-1911 – bought by Standard Oil of Indiana.
Standard Oil of Illinois – pre-1911 – bought by Standard Oil of Indiana.
Standard Oil of Kansas – refining only, eventually bought by Indiana Standard.
Standard Oil of Missouri – pre-1911 – dissolved.
Standard Oil of Louisiana – always owned by Standard Oil of New Jersey (now ExxonMobil).
Standard Oil of Brazil – always owned by Standard Oil of New Jersey (now ExxonMobil).
Other companies divested in the 1911 breakup:
Anglo-American Oil Co. – acquired by Jersey Standard in 1930, now Esso UK.
Buckeye Pipe Line Co.
Borne-Scrymser Co. (chemicals)
Chesebrough Manufacturing (acquired by Unilever)
Crescent Pipeline Co.
Cumberland Pipe Line Co.
Eureka Pipe Line Co.
Galena-Signal Oil Co.
Indiana Pipe Line Co.
National Transit Co.
New York Transit Co.
Northern Pipe Line Co.
Prairie Oil & Gas.
Southern Pipe Line Co.
South Penn Oil Co. – eventually became Pennzoil, now part of Shell.
Southwest Pennsylvania Pipe Line Co.
Swan and Finch.
Union Tank Lines.
Washington Oil Co.
Stock certificates are collected and given as gifts because of their historical significance, beauty and artwork, autographs, notoriety, as well as many other factors. The supply of new certificates reaching the collector market has been substantially reduced due to changes in state laws and stock exchanges rules. Many companies are no longer required to issue physical stock and bond certificates, a process called “dematerialization.”
Scripophily (scrip-ah-fil-ly) is the name of the hobby of collecting old stock and bond certificates. Certificate values range from a few dollars to more than $500,000 for the most unique and rare items. Tens of thousands of Scripophily buyers worldwide include casual collectors, corporate archives, business executives, museums and serious collectors. Due to the computer age, more and more stock and bonds are issued electronically which means fewer paper certificates are being issued. As a result, demand for paper certificates is increasing while supply is decreasing.
Scripophily.com /Old Company Research Service, founding member of the Old Stock Exchange, is the successor company to all material published by the Marvyn Scudders Manuals, the Robert D. Fisher Manuals, R.M. Smythe Stock Research Service, and the Herzog & Co., Inc. obsolete research services.
Scripophily.com and Old Company Research Services was founded by Bob Kerstein (Bob.us). Bob is a CPA and CGMA, and has more than 44 years of senior management experience in the Cellular, Cable TV, Satellite, Internet, Professional Sports and Entertainment Industries. Bob is also the President of the Professional Scripophily Traders Association (PSTA) and co founder of the American Stock and Bond Collectors Association.
Vancouver Canucks TV Vault OrcaBay.com Website Launch featuring Bob Kerstein, Chief Information Officer
Source: EIN Presswire