Standard Oil an "unreasonable" monopoly under the Sherman Antitrust Act, Section II. It ordered Standard to break up into 34 independent companies with different boards of directors, the biggest two of the companies were Standard Oil of New Jersey (which became Exxon) and Standard Oil of New York (which became Mobil). Standard's president, John D. Rockefeller, had long since retired from any management role. But, as he owned a quarter of the shares of the resultant companies, and those share values mostly doubled, he emerged from the dissolution as the richest man in the world. The dissolution had actually propelled Rockefeller's personal
Sinclair Oil Corporation mascot, a brontosaurus. During September 1919, Harry F. Sinclair restructured Sinclair Oil and Refining Corporation, Sinclair Gulf Corporation, and 26 other related entities into Sinclair Consolidated Oil Corporation. In 1932, this new entity was renamed Consolidated Oil Corporation. In 1943, it was renamed Sinclair Oil Corporation. Near the beginning of the Great Depression, Sinclair sold the remaining interest in its pipeline subsidiary to Standard Oil Company (Indiana) for US$72.5 million (Standard Oil had purchased a 50% interest in the pipeline subsidiary in 1921). With these funds, including an additional US$33.5 million from an additional common stock issue, Sinclair retired a