Question: who bought stocks in standard oil as prices continued to fall

title: Standard Oil
text: In 1904 , Standard controlled 91 percent of production and 85 percent of final sales . Most of its output was kerosene , of which 55 percent was exported around the world . After 1900 it did not try to force competitors out of business by underpricing them . The federal Commissioner of Corporations studied Standard 's operations from the period of 1904 to 1906 and concluded that `` beyond question ... the dominant position of the Standard Oil Co. in the refining industry was due to unfair practices -- to abuse of the control of pipe - lines , to railroad discriminations , and to unfair methods of competition in the sale of the refined petroleum products '' . Due to competition from other firms , their market share had gradually eroded to 70 percent by 1906 which was the year when the antitrust case was filed against Standard , and down to 64 percent by 1911 when Standard was ordered broken up and at least 147 refining companies were competing with Standard including Gulf , Texaco , and Shell . It did not try to monopolize the exploration and pumping of oil ( its share in 1911 was 11 percent ) .