chpt25 - Chapter 25 - Industry Comes of Age Collis P....

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Chapter 25 - Industry Comes of Age Collis P. Huntington R.R Baron of the Central Pacific. One of the "Big Four"(four men that funded railroads around the late 1860's. He was an adept lobbyist. James Hill He was a successful railroad builder, and was considered as the best. In the 1890's he created the Great Northern, which ran from Deluth to Seattle. He knew that the success of the railroad would depend on the prosperity of those who used it. His enterprise was so financially secure, that when financial storms came his enterprise was not fazed. Cornelius Vanderbilt He founded Vanderbilt University in Tenn. He was a big man with little education but he established a shipping-land transit across Nicaragua after the gold rush. He built a railway that connected New York to Chicago in 1873. He offered superior service at low rates and was extremely successful. Edison, Thomas A deaf Edison invented the phonograph and by 1900 it was used in over 150,000 homes. His invention made going to the symphony obsolete. He also invented the light bulb. This invention changed the way of life for thousands of Americans. Andrew Carnegie steel king; integrated every phase of his steel-making operation. Ships, railroads, ect. pioneered "Vertical Integration" ; his goal was to improve efficiency by making supplies more reliable controlling the quality of the product at all stages of production and eliminating the middle man John D. Rockefeller Rockefeller was a man who started from meager beginnings and eventually created an oil empire. In Ohio in 1870 he organized the Standard Oil Company. By 1877 he controlled 95% of all of the refineries in the United States. It achieved important economies both home and abroad by it's large scale methods of production and distribution. He also organized the trust and started the Horizontal Merger. J. Pierpont Morgan
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chpt25 - Chapter 25 - Industry Comes of Age Collis P....

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