A trust or business trust was a form of business entity used in the late 19th century with intent to create a monopoly. Some but not all were organized as trusts in the legal sense. They were often created when corporate leaders convinced (or coerced) the shareholders of all the companies in one industry to convey their shares to a board of trustees, in exchange for dividend-paying certificates. The board would then manage all the companies in "trust" for the shareholders (and minimize competition in the process). Eventually the term was used to refer to monopolies in general. In 1898, President William McKinley launched the 'trust-busting' era when he appointed the U.S. Industrial Commission. The report of the Commission was seized upon by Theodore Roosevelt, who based much of his presidency on "trust-busting". Alternative meaning: Nineteenth Century (periodical) (18th century — 19th century — 20th century — more centuries) As a means of recording the passage of time, the 19th century was that century which lasted from 1801-1900 in the sense of the Gregorian calendar. ... In economics, a monopoly (from the Latin word monopolium - Greek language monos, one + polein, to sell) is defined as a persistent market situation where there is only one provider of a product or service. ... 1898 (MDCCCXCVIII) was a common year starting on Saturday (see link for calendar) of the Gregorian calendar (or a common year starting on Monday of the 12-day-slower Julian calendar). ... William McKinley (January 29, 1843 – September 14, 1901) was the 25th President of the United States. ... The U.S. Industrial Commission (1898-1902) was appointed by President William McKinley to investigate railroad pricing policy, industrial concentration, and the impact of immigration on labor markets, and make recommendations to the President and Congress. ... Theodore Roosevelt, Jr. ... Trust-busting refers to government activities designed to break up trusts or monopolies. ...
Prominent trusts included Standard Oil, U.S. Steel and the International Mercantile Marine Company. Standard Oil (1870–1911) was a large, integrated, oil producing, transporting, refining, and marketing company. ... The United States Steel Corporation NYSE: X is an integrated steel producer with major production operations in the United States and Central Europe. ... The International Mercantile Marine Co. ...
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