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How did Andrew Carnegie get into the Steel business?
Andrew Carnegie worked for the Pennsylvania Railroad. He continually created products they needed to solve those problems and made the companies to produce them. Eventually he owned a number of different companies producing a variety of products. He took a trip back to his home in Scotland. In England he saw the Bessemer Converter producing steel. He realized that steel railroad tracks would be far superior to iron tracks. He returned to the United States and sold all his companies and built a steel mill using the Bessemer Converter. He sold railroad tracks. Other companies in the United States had built Bessemer Converters before he did. He was the first to use the steel for railroad tracks. Since iron tracks wore out in few years, there was tremendous demand for Carnegie railroad tracks. He not only build the factory but also saw where its products were needed.
How did Andrew carnegie his fortune?
He had many business interests, but mainly steel.
What was Andrew Carnegie's monopoly?
Andrew Carnegie's Monopoly is the extreme case in capitalism.
What industry did Andrew carnegie control as a monopoly?
He controlled the steel corporation called Carnegie Steel Corporation. He started by working as an assistant to one of the railroad's top officials and about 3 years later he was promoted to superintendent of the company.
How did Andrew Carnegie amass his fortune?
He had many business interests, but mainly steel.
What industry did carnegie go into after the railroad?
brewery
What business did Andrew Carnegie dominte?
The one business that Andrew Carnegie was known for dominating was the steel manufacturing business.
What does Andrew Carnegie mean when he says I would get out of it in a conversation with his friend Frank Doubleday?
Andrew Carnegie used a conversation with Frank Doubleday to show how ruthless and unstoppable Carnegie was in business. When Carnegie asked how much Doubleday made in his business and was told \"very little\" Carnegie responded that he would get out of that business.
Why was Andrew Carnegie so important to the steel industry?
steel needed for railroad
How did horizontal integration help business such as Carnegie company and tycoons like Andrew Carnegie?
Carnegie Controlled Almost the entire steel industry . by the time he sold his business in 1901 , Carnegie's companies produced by far the largest portion of steel.
This industrialist used his pay as an assistant to a railroad man to invest in industry?
Andrew carnegie.
In what business was Andrew Carnegie able to make his millions?
Andrew Carnegie gave 80% of his money away to education. Carnegie thought that education was very important.
Who was a railroad-car mogul who built a town to house his employee?
george M. pullman
When was Andrew Carnegie business made?
Andrew Carnegie came to America from Scotland, and after doing factory work, he went to work for the Pennsylvania Railroad, as a telegrapher (he sent out messages, using the telegraph, which was how business communication was transmitted in those days). He developed a good understanding of the railroad business, and worked his way up in the company, eventually becoming an executive. He also began making investments into other businesses, especially the steel industry. He founded his own steel company in the 1870s, and built it into a force in the business world. In fact, by 1889, the Carnegie Steel Corporation was the largest steel company in the world. He became a very wealthy man and made millions. Then, in 1901 he sold his business and decided to spend his remaining years focused on doing charitable work. He became a well-known philanthropist, donating to libraries and museums, and creating an institute for the study of peace. In 1904, he also established a university, today known as Carnegie-Mellon University.
What year did Andrew carnegie start his business?
1876
Who dominated the steel industry in the late 1800 and early 1900?
Andrew Carnegie. John D. Rockefeller had created a monopoly with his oil business, too.
How did Andrew Carnegie get into the Steel business?
Andrew Carnegie worked for the Pennsylvania Railroad. He continually created products they needed to solve those problems and made the companies to produce them. Eventually he owned a number of different companies producing a variety of products. He took a trip back to his home in Scotland. In England he saw the Bessemer Converter producing steel. He realized that steel railroad tracks would be far superior to iron tracks. He returned to the United States and sold all his companies and built a steel mill using the Bessemer Converter. He sold railroad tracks. Other companies in the United States had built Bessemer Converters before he did. He was the first to use the steel for railroad tracks. Since iron tracks wore out in few years, there was tremendous demand for Carnegie railroad tracks. He not only build the factory but also saw where its products were needed.
