Industrialists Andrew Carnegie Improved steel making by studying the Bessemer process. Hired scientists and managers to improve factory efficiency. Purchased.

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Presentation transcript:

Industrialists

Andrew Carnegie Improved steel making by studying the Bessemer process. Hired scientists and managers to improve factory efficiency. Purchased iron mines, coal fields, and railroads to control every step in process. (?) Bought rival companies to form giant Carnegie Steel Company. “Adopt every improvement, have the best machinery, and know the most.”

Carnegie Home

Steel Factory

Steel Furnace

Company Picnic

J.P. Morgan Banker and financier Founded U.S. Steel, world’s first billion dollar corporation Took over troubled businesses to make them better. Known for his art and gem collection. “If you have to ask the price, you can’t afford it.”

J.P. Morgan Home

J.P. Morgan Office

John D. Rockefeller Bought first oil refinery at age 23. Controlled every step of process, including drilling, refining, and shipping. Drove rivals out of business until he controlled 95 % of all oil business. Formed Standard Oil Trust. “You can’t compete with the Standard…if you refuse to sell, it will end in your being crushed.”

Rockefeller Home

Standard Oil

Cornelius Vanderbilt Began shipping during the War of Founded a steamboat company in Acquired rail lines which led to him becoming the richest man in America. Not known for charity. “The public be damned.”

Vanderbilt Home

Leland Stanford Helped to build first transcontinental railroad. The American Government provided free land and money to build the rail. (welfare) Opened West to settlers, farmers, and forty-niners. Known as rail baron (tycoon) for vast fortune. “It is the ordinary people realizing that their condition of life is not what it ought to be… that great improvements may be accomplished.”

Union Pacific and Central Railroads