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Financial Giants of America, Vol. 2 (Classic Reprint)

Financial Giants of America, Vol. 2 (Classic Reprint)

33247261
1712.5 руб.
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Описание
Excerpt from Financial Giants of America, Vol. 2

The most forceful personality which the steel industry of this country has produced was the late Andrew Carnegie. Carnegie's birthplace was Dunfermline, Scotland. He was an impelling force and a great leader in the iron trade of this country. Mr. Carnegie was without a peer in his lifetime in never-failing confidence in the steel industry and in the keenest comprehension of its needs.

Carnegie's father was a weaver, who, with his family, emigrated in 1848 to the United States. Beginning life without even the usual school education, young Carnegie worked in various humble positions in Pittsburgh, where he found employment in a telegraph office and obtained a footing in the railroad world. The basis of the immense fortune he was able to amass was due to his connection with the iron works which he established in Pittsburgh, and which subsequently developed into the vast industry of the Carnegie Steel Co.

The Carnegie company in February, 1901, was, with a number of other manufacturing concerns, incorporated as the United States Steel Corporation, having capitalization of over $1,000,000,000. Carnegie at a critical period in his life, was aided by making the acquaintance of a Mr. Woodruff, inventor of the railway sleeping car. He was also helped by the fact that he was one of a fortunate oil syndicate.

The story of Carnegie's career and the vast wealth he has amassed reads like a romance, and to his honor be it said he has generously used his princely fortune. He endowed and founded public libraries, notably $500,000 for a library in Pittsburgh and $250,000 for a library in Edinburgh, Scotland, and $5,200,000 to erect and equip 80 public libraries in New York City. He donated $10,000,000 for creating the Carnegie Foundation, a trust fund to provide for college professors in the United States, Canada and Newfoundland, who from old age or other physical disability retire from active service.

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