National Linseed Oil Trust
The National Linseed Oil Trust of
History
Viewed today as one of many imitators of the
After a period of failed speculation in flaxseed (the raw material used in the creation of linseed oil), and between August and September 1898, the capital of the company dropped from a high of $18,000,000 to $720,000. The company was rolled into a new trust, the American Linseed Oil Company.[8] The new company was incorporated in New Jersey with a capitalization of $33,500,000 and the acquisition of 60 linseed oil factories in the country.[9] American Linseed Oil was initially backed by a large purchase of stock from Standard Oil which increased its share of the company until Rockefeller interests controlled the trust.[10]
Lawsuit
The US Department of Justice brought suit against the Trust for violating the Sherman Antitrust Act. Several co-defendants were named, including the
References
- ^ Foner, P.S. (1964) History of the labor movement in the United States. International Publishers Company. p 13.
- ^ a b "Sues to dissolve Linseed Oil Trust" (PDF). The New York Times. 1 July 1920. Retrieved 24 January 2008.
- ^ "Clark Woodman Found Dead: Supposed Suicide of a Millionaire Citizen of Omaha" (PDF). The New York Times. 21 August 1891. Retrieved 23 January 2008.
- ^ Morris, C.R. (2005) The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, And J.P. Morgan invented the American supereconomy. Times Books. p 194.
- ^ "The Attorney-General of Illinois Seeks to Annul the Charter of the National Linseed Oil Company". Paint, Oil and Chemical Review. 21: 19. 15 Jan 1896.
- ^ "The Linseed Oil Trust. Assets Said to be $6,000,000 Over All Liabilities" (PDF). The New York Times. 22 September 1898. Retrieved 25 January 2024.
- ^ Whiting Baker, C. (1899) Monopolies and the People. Xinware Corporation. p 15.
- ^ "Linseed Goes on Tumbling". Chicago Tribune. Chicago Tribune. 8 June 1899. p. 5.
- ^ Goodsell, Charles M.; Wallace, Henry Edward, eds. (1900). The Manual of Statistics: Stock Exchange Hand-Book. Vol. 22. New York: Charles H. Nicoll.
- ^ "The Week's Record". The Commercial West. 1 (15): 10. 22 June 1901.