John D Rockefeller By 247steinere Nov 11, 1839 Virginia Military Institute is founded in Lexington Virginia Virginia Military Institute is founded in Lexington Virginia Jun 19, 1850 George H Bissell forms Penn. Rock Oil Company and buys land in Western Penn. where they find oil. Jul 1, 1859 Edwin L. Drake hired by Bissell to drill for oil in Titusville Penn. where 8-10 gallons a day turned into thousands a day. The "oil mania" began. Jan 15, 1863 First US newspaper was printed in Boston Feb 26, 1863 Lincoln signs national curency act Mar 3, 1863 1st war time military concription Bill enacted Jul 7, 1863 1st Military draft Oct 18, 1863 Cleveland becomes major oil refining center. Oct 19, 1873 Stock market crashes and sets off a six year economic downturn. Aug 22, 1880 Standard Oil sells inexpensive lamps and oil to fill them in China and around the world. Oct 4, 1880 Standard Oil trust created with 42 certificate or stockholders. Aug 19, 1889 Anti-Monopoly sentiment grows across the US Jul 2, 1890 Sherman Antitrust act passed, outlawing trusts and "combinations in restraint of trade". Nov 19, 1896 Electricity begins to replace kerosene Sep 14, 1901 President McKinley assassinated and Theodore Roosevelt, opposed to trusts, becomes president. May 19, 1907 Federal Government brings lawsuit to Sandard Oil company. May 15, 1911 Ohio Surpreme court dissolves Standard Oil Trust and seperates 38 different companies. Rockefeller also gives up title of Standard Oil President