18 December 2003
[STANDARD OIL]. DODD, S.C.T. Combinations: Their Uses and Abuses; with a History of the Standard Oil Trust. An Argument Relative to Bills Pending Before the New York Legislature, Based Upon Testimony Given Before the Senate Committee on General Laws. New York: George F. Nesbit, 1888.
8o. Original green printed wrappers (spine partly perished). Provenance: H.G. Vaughan (signature on front wrapper).
Dodd, Solicitor of the Standard Oil Trust, and the man who devised the strategy of using a trust to organize the company's holdings, provides a history of the Standard Oil Combination and defends against charges of monopoly: "the combination has constantly cheapened manufacture and improved the manufactured products...it has increased demand, and diminished prices to an extent unparalleled in any other business..." (p.25). Two years after the publication of this book, Congress passed the Sherman Antitrust Act, the source of all American anti-monopoly laws. The Standard Oil Company was finally found in violation of the Sherman Antitrust Act in 1911 and ordered to dismantle 44 of its most important affiliates. Not in Giddens, The Beginnings of the Petroleum Industry.
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