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10 - PEOPLE/(N-S)/John D. Rockefeller Jr..md
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role: "8.5 million dollars for the East River site"
fn: 1
created: 2026-10-01
updated: 2026-10-01
updated: 2026-10-26
---
John Davison Rockefeller Jr. (January 29, 1874, in [[Cleveland]], to May 11, 1960, in [[Tucson]]) was the son of [[John D. Rockefeller Sr.]], founder of [[Standard Oil]], and [[Laura Spelman Rockefeller]]. He graduated from [[Brown University]] in 1897, married [[Abby Aldrich Rockefeller]] (daughter of Senator [[Nelson W. Aldrich]] of [[Rhode Island]]) on October 9, 1901, and, three years after her death in 1948, married [[Martha Baird Rockefeller|Martha Baird Allen]] on August 15, 1951.[^1] Estimates of his net worth were 995 million dollars in 1928, 379.6 million in 1938 and 336.5 million in 1950. His children were Abby, [[John D. Rockefeller III]], [[Nelson Rockefeller]], [[Laurance Rockefeller]], [[Winthrop Rockefeller]] and [[David Rockefeller]]; five sons established the [[Rockefeller Brothers Fund]] in 1940, and he gave it 58.9 million dollars.[^1] His first employment was in his father's office at 26 Broadway, where he worked with the Reverend [[Frederick T. Gates]].[^1]
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### Standard Oil of Indiana
Before the 1929 annual meeting of [[Standard Oil of Indiana]], Rockefeller, a minority stockholder, examined the testimony of its chairman [[Robert W. Stewart]] before the [[United States Senate Committee on Public Lands and Surveys|Senate Committee on Public Lands]] about the [[Continental Trading Company]] bonds, talked with him and asked him to resign. [[Time]] reported on January 28, 1929 that Stewart had testified "I never had anything to do with the distribution of any bonds" and later "I know about the disposition of $759,500 of these bonds," that the Senate had charged him with perjury and contempt and that juries acquitted him of both, and that Rockefeller, who according to his own account had received Stewart's promise to comply nine months earlier, "sailed for Egypt last fortnight, but left behind him a letter to stockholders, expressing loss of confidence."[^17] The company had 9,160,000 shares held by about 58,000 holders, and the vote was set for March 7 at [[Whiting, Indiana]]. Time listed the acting Alien Property Custodian, [[Howard Sutherland]] (proxies for 12,000 shares seized from Germans and Austrians in the World War), and [[A. P. Giannini]] (32,000 shares) among Rockefeller's supporters, reported that the house of [[J. P. Morgan and Company]] was "authoritatively said to be advising clients to support" him, and noted that the [[University of Chicago]], "object of many Rockefeller benefactions," was expected to vote its 30,000 shares with him; the company's president [[Edward G. Seubert]] and its board voted unanimously for Stewart, and Time reported that Standard Oil of Indiana profits for 1928 were estimated at 80 million dollars.[^17]
Before the 1929 annual meeting of [[Standard Oil of Indiana]], Rockefeller, a minority stockholder, examined the testimony of its chairman [[Robert W. Stewart]] before the [[United States Senate Committee on Public Lands and Surveys|Senate Committee on Public Lands]] about the [[Continental Trading Company]] bonds, talked with him and asked him to resign. [[Time]] reported on January 28, 1929 that Stewart had testified "I never had anything to do with the distribution of any bonds" and later "I know about the disposition of $759,500 of these bonds," that the Senate had charged him with perjury and contempt and that juries acquitted him of both, and that Rockefeller, who according to his own account had received Stewart's promise to comply nine months earlier, "sailed for Egypt last fortnight, but left behind him a letter to stockholders, expressing loss of confidence."[^17] The company had 9,160,000 shares held by about 58,000 holders, and the vote was set for March 7 at [[Whiting, Indiana]]. Time listed the acting Alien Property Custodian, [[Howard Sutherland]] (proxies for 12,000 shares seized from Germans and Austrians in the World War), and [[A. P. Giannini]] (32,000 shares) among Rockefeller's supporters, reported that the house of [[J. P. Morgan & Co.|J. P. Morgan and Company]] was "authoritatively said to be advising clients to support" him, and noted that the [[University of Chicago]], "object of many Rockefeller benefactions," was expected to vote its 30,000 shares with him; the company's president [[Edward G. Seubert]] and its board voted unanimously for Stewart, and Time reported that Standard Oil of Indiana profits for 1928 were estimated at 80 million dollars.[^17]
The Whiting-Robertsdale Historical Society states that Rockefeller retained [[Charles Evans Hughes]] to lead his lawyers and that Stewart retained [[Frank J. Hogan]], who had defended [[Edward L. Doheny]] in the [[Teapot Dome scandal|Teapot Dome]] case, and that Hughes's staff published a 69-page statement of Rockefeller's case. According to the society, Rockefeller did not attend the meeting and sent his brother-in-law Winthrop W. Aldrich with about 200 eastern stockholders; the Rockefeller side claimed 57 percent of the proxies; Stewart conceded, "I'm afraid, my friends, that the 'noes' have it, if the vote is taken by shares"; and the society quotes the [[Gary Times]] that Stewart "was plucked out of the chairmanship."[^18] The society's account names [[Harry F. Sinclair]] as one of the four oil company heads who created the Continental Trading Company in 1921.[^18]