Andrew Carnegie, J.P. Morgan, and John D. Rockefeller
Produce similar products
After Carneige bought the suppliers he went to Horizontal Integration. This is where he bought out companies that did what?
90%
Andrew Carnegie donated what % of his wealth?
Pennsylvania Railroad
At the age of 18 Carnegie became the private secretary to the local superintendent of what railroad?
Steel
Business Carnegie entered in 1873
Great Britain
By 1899 Carnegie Steel Company manufactured more steel than all the factories in
12
Carnegie's age when he came to America
Bezzemer Process
Carnegie's steel business was very successful because he was the first to use what process?
Allowed them to buy stock
How did Carnegie try to attract some of the more talented and smarter workers?
Where the corporation does nothing but buy stocks of other companies
How did Morgans type of company work?
$10
How much Carnegie's first check was
3%
In 1870 Rockefeller's company produced what percentage of Americas oil?
Us Steel
In 1901 Morgan merged the Carnegie Steel Company and other companies to form what company that became the world's largest steel company?
$500 million
John D. Rockefeller gave away over how many million?
Holding companies
Morgan made his fortune by creating what kind of companies?
He built new machines and he created a better accounting system to keep track of the cost
Name 2 ways Carnegie built steel cheaply
To buy stock in the Pennsylvania Railroad Company
One day Carnegie relayed messages that unsnarled a tangle of freight and passenger trains. Because of this his boss gave him the opportunity to do what?
The Railroad
One of the main businesses that Rockefeller bought he only bought because they would not work wit him on the price he would have to pay to buy his oil
Cheaply
Part of Carnegie's success was due to finding ways to build steel more
Donation of money and/or property to the needy
Philanthropy
Trust
Rockefeller started his fortune by creating what?
Standard Oil Company
Rockefeller started his own oil company named
Coal, Iron, and Railroad
The first was Vertical Integration. By using this process Carnegie tried to buy out all of his suppliers. Name 3 of the suppliers he bought out
Banker
Type of job Morgan had
The railroads, Steel companies, and The farming industry
What 3 different types of industries did Morgan try and take over?
Phony cures for cancer
What did Rockefellers father sell to make a living?
118,000,000
When he died at the age of 75 in 1913, how much was he worth?
Scottland
Where Carnegie was born
90%
Within 10 years Standard Oil controlled what percentage of the refining business?
