AMH 2020 0001 page 1 February 3 2015 Pick your Ancestor Edwin Drake o Makes a fortune in Oil Industry o Is hired by a group of promoters to help them find oil Didn t know how to find oil Had conductor background for Railroad o Drilled first oil well in Titusville Pennsylvania Comes to control oil industry Until Rockefeller comes in and makes his fortune by taking control of the refineries John D Rockefeller o Owned refineries o Comes to control the modern oil industry o Rockefeller makes the fortune because he controls the price of oil o Exxon was a Red and White company o Price per barrel based on the old 42 gallon Rockefeller barrel o Government came in to break up his monopoly with the Sherman Anti Trust Act The Sherman Anti Trust Act is very vague Government can be strict or very lax It was used last 20 years ago against Microsoft Apple will never be half as big as Microsoft Bill Gates Alvah Roebuck AMH 2020 0001 page 2 o Sears Roebuck and company owner o Owned 50 o Hired to repair watches o Didn t invest every penny that he had to create a catalogue and as a result had his share of the company bought by Sears o Gets his job back later and gets employee stock worth 200 Alexander Graham Bell o Telephone Thomas Edison o Inventor of everything Isaac Singer o Sewing machines Gustaf Swift o Modern Meat industry Rise of Big Business AFL CIO Labor Unions American Federation of Skilled workers is first union that begins to take hold National Labor Union 1866 Knights of Labor o First union to call for equal pay for women But it s for heavy factory work So factories get rid of weak women and hire men that they know AMH 2020 0001 page 3 will get the job done o In 1869 they were disbanded Industrial Workers of the World In the 1950s some labor unions merge will come in and take the jobs of the strikers Clothing Industry If the economy is going good then workers will strike but if the economy is poor people During Civil War people were measured to fit into uniforms and as a result it was found that people came in sizes First department store is opened in New York by RH Macy Macy s o Department stores carry everything to the point where you could live in it o Carry electronics restaurants inside gardening TV etc o Called a department because each department is a different thing almost like a mall o Fixed pricing established with department stores o Cash register also invented around this time Inventor sells patent for 10k and buys a bar o Sears works for the Railroad as a telegraph operator COD Cash on Delivery Used to be the way that American business happened When package arrived you would pay cash to the person Purchases a shipment of watches for discount and sells them in the train AMH 2020 0001 page 4 Used his Railroad bond to give a money back guarantee Hires Alvah Roebuck to be his watch repairman He sells the company to some businessmen who keep Roebuck s name on To make the company look big and professional 1920 s is when the first department store is built until then it was a catalog station the company only HJ Hines bottled Horse Radish in mason jars in his basement 57 varieties is what he claimed to be distributing There really wasn t a use for crude oil until the 1850 s People would buy land and then find out that it was oil land People used to try to drink crude oil to cure cancer Find a way to refine it and light lights with it o Used Whale oil before oil was able to be refined
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