John Rockefeller's Impact On Business Life

Before his twentieth birthday, John asked for a one thousand dollar loan from his father to start his own business. Of course, at the prevailing interest rate, and payable on demand. With this money, John Rockefeller, along with a neighbor Maurice Clark, started Clark & Rockefeller; commission merchants in grain, hay, meats, and miscellaneous goods. Business for the first year was good, bringing in a $450,000 gross with profits of $4,400. Continuing the commodity business, profits were $17,000 the very next year. It was said that success was brought by John's natural business abilities. John felt that it was a gift from God, a calling to make money.

The following year was when life and business changed forever. Oil, or "black gold", was struck. With the start of the civil war in 1861, the commodity business expanded at a rapid rate. John was a planner, not a gambler. He avoided speculation, calculating all costs. John was aggressive with his business ways, making no advances or loans. The price of grain went up, therefore profits went up as well. Wanting to venture into the oil business, he had a lot of research and decisions to make. Edwin Drake striking oil in Titusville, PA set off an oil drilling boom. Everyone began drilling for oil. John realized that drilling for oil was a chance, with so many people gathering in the region to
He believed that Cleveland's future was not agricultural commodities anymore, what he had been in for years. He believed that the future was in oil, refining, and transportation of the raw industrial materials. So in 1862, John began investing in oil refining. Andrews, Clark, & Rockefeller was formed in 1863. Cleveland at the time was a port city, but that year the Atlantic and Great Western railroads were brought through Cleveland. This railroad gave Cleveland a direct connection to New York, and opened up many more business