Growth and Transformati22

Growth and Transformati22 - Superior, a fleet of steamers...

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Growth and Transformation After two great wars, the United States comes of age CARNEGIE AND THE ERA OF STEEL Andrew Carnegie was largely responsible for the great advances in steel production.  Carnegie, who came to America from Scotland as a child of 12, progressed from bobbin  boy in a cotton factory to a job in a telegraph office, then to one on the Pennsylvania  Railroad. Before he was 30 years old he had made shrewd and farsighted investments,  which by 1865 were concentrated in iron. Within a few years, he had organized or had  stock in companies making iron bridges, rails, and locomotives. Ten years later, he built  the nation’s largest steel mill on the Monongahela River in Pennsylvania.  He acquired  control not only of new mills, but also of coke   and coal properties, iron ore from Lake 
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Unformatted text preview: Superior, a fleet of steamers on the Great Lakes, a port town on Lake Erie, and a connecting railroad. His business, allied with a dozen others, commanded favorable terms from railroads and shipping lines. Nothing comparable in industrial growth had ever been seen in America before. Though Carnegie long dominated the industry, he never achieved a complete monopoly over the natural resources, transportation, and industrial plants involved in the making of steel. In the 1890s, new companies challenged his preeminence. He would be persuaded to merge his holdings into a new corporation that would embrace most of the important iron and steel properties in the nation....
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This note was uploaded on 12/21/2011 for the course AMH AMH2010 taught by Professor Pietrzak during the Fall '10 term at Broward College.

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