titans of industry

MCKENZIE HITCHCOCK

Titans of Industry

Titans of Industry

Andrew Carnegie

John D. Rockefeller

Leland Stanford

JP Morgan

“Banker’s Banker” “Steel King” “Oil Baron”One of the“Big Four”

APRIL 17 , 1837- MARCH 31 , 1913

JP Morgan: The ‘Banker’s Banker’


He made his money by a very deal during the civil war

He bought five thousand riffles at $3.50 a piece and then sold them to a general in the field for $22 .

They were defective and would shoot off the thumbs of the soldiers using them

A judge noted this problem in an obscure report, but the deal was upheld as legal.

Shady

● JP Morgan was also one of the people who could afford to send in a substitute for the Civil War. He paid the full $300 without blinking an eye.

JP Morgan: The ‘Banker’s Banker”

Morgan began his actual career as an accountant in 1857. He worked for several other firms in New York. In 1871, he was

added as a partner in Drexel, Morgan and Company. However, in 1895, the company became known as JP Morgan and

Company

● He was described as “Coldly rational”●Created U.S Steel, the world’s first BILLION dollar corporation in 1901

http://3.bp.blogspot.com/-YMtYYjs0wIA/Th8SN_guC5I/AAAAAAAABcY/JWOOLzZeCJM/s1600/jp-morgan-1910.jpg


In 1893, JP Morgan was the primary financer of the U.S. railroads.

By the early 1900s, Morgan was the main force behind the Trusts, controlling virtually all the basic American industries; GE, AT&T, STEEL…

Now, JP Morgan and Co. is JP Morgan and Chase.

NOVEMBER 25 , 1835- AUGUST 11 , 1919

Andrew Carnegie: The ‘Steel King

Andrew Carnegie: The ‘Steel King’

Born in Scotland- Moved to United States.After working a series of railroad jobs, he

owned CARNEGIE STEEL CORPORATION in 1889.

He was an industrialist and a philanthropist. A philanthropist is someone who cares for the well-being of the

mankind. ● Carnegie was hired as a personal telegrapher and private secretary to Thomas A. Scott (all within the Pennsylvania Railroad)

●He worked his way up the ladder and eventually passed Scott, becoming superintendant.


After the Civil War, Carnegie saw the potential in the iron industry and resigned from the Pennsylvania Railroad.

He then moved to Keystone Bridge Company Which worked to replace old wooden bridges with

stronger, iron ones.

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By 1900, Carnegie Steel produced more steel than all of England.


In 1900, other titan of industry J.P. Morgan entered a battle with Carnegie. In short, Morgan ended up buying the Carnegie Steel company from Andrew Carnegie.

This deal made Carnegie the richest man in the world.

●Before he died, he donated a lot of his money. In all, he ended up giving away 350 million dollars.

John D. Rockefeller: The ‘Oil Baron’

January 29, 1874 – May 11, 1960

John D. Rockefeller: The ‘Oil Baron’

In 1870, Rockefeller started his first oil refinery near Cleveland and incorporated the STANDARD OIL COMPANY.

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