Steel Industry

Steel Industry

Karissa Troyer

 

   The mass production of steel was a major turning point in industrialization. Andrew Carnegie was an important person in the manufacturing steel. Carnegie was a supervisor for a railroad, he had also invested in many companies like; Iron mills, factories that made sleeping cars and locomotives. During his early 30’s he was earning $50,000 a year so he decided to quit his job and concentrate on his own business.

   Carnegie was on a trip to Europe when he met Sir Henry Bessemer who had invented a new way to produce steel. So he took the idea back to America and started a steel mill in Pittsburg. To make his company better he started smaller businesses. At that time he was paying other companies for the products that he needed. He decided that buying his own coal mines, limestone quarries, and iron ore fields to save money.

   In 1901 J.P. Morgan and Elbert H. Gary founded U.S. Steel by combining Carnegie's Carnegie Steel Company with Gary's Federal Steel Company and William Henry "Judge" Moore's National Steel Company. This cost them $492 million. At one point in time, U.S. Steel was the largest steel producer and largest corporation in the world.