<P> Standard's actions and secret transport deals helped its kerosene price to drop from 58 to 26 cents from 1865 to 1870 . Competitors disliked the company's business practices, but consumers liked the lower prices . Standard Oil, being formed well before the discovery of the Spindletop oil field (in Texas, far from Standard Oil's base in the Mid-West) and a demand for oil other than for heat and light, was well placed to control the growth of the oil business . The company was perceived to own and control all aspects of the trade . </P> <P> In 1872, Rockefeller joined the South Improvement Co. which would have allowed him to receive rebates for shipping and drawbacks on oil his competitors shipped . But when this deal became known, competitors convinced the Pennsylvania Legislature to revoke South Improvement's charter . No oil was ever shipped under this arrangement . Using highly effective tactics, later widely criticized, it absorbed or destroyed most of its competition in Cleveland in less than two months and later throughout the northeastern United States . </P> <P> In response to state laws trying to limit the scale of companies, Rockefeller and his associates developed innovative ways of organizing, to effectively manage their fast growing enterprise . On January 2, 1882, they combined their disparate companies, spread across dozens of states, under a single group of trustees . By a secret agreement, the existing 37 stockholders conveyed their shares "in trust" to nine trustees: John and William Rockefeller, Oliver H. Payne, Charles Pratt, Henry Flagler, John D. Archbold, William G. Warden, Jabez Bostwick, and Benjamin Brewster . This organization proved so successful that other giant enterprises adopted this "trust" form . </P> <P> In 1885, Standard Oil of Ohio moved its headquarters from Cleveland to its permanent headquarters at 26 Broadway in New York City . Concurrently, the trustees of Standard Oil of Ohio chartered the Standard Oil Co. of New Jersey (SOCNJ) to take advantages of New Jersey's more lenient corporate stock ownership laws . </P>

Who set up a trust in order to make standard oil a monopoly
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