-
The Keystone Bridge Company became an important American bridge-building firm, holding numerous patents. It is best known for building the Eads Bridge in St. Louis, completed in 1874.
-
Carnegie writes himself a letter which outlines his plans for the future. He determines to resign from business at age 35 and live on an income of $50,000 per year, devoting the remainder of his money to philanthropic causes, and most of his time to his education
-
Andrew Carnegie traveled to England so he could witness Henry Bessemer's expedited steel production process in action. He then returned to the United States and incorporated the Bessemer Process into his own factories.
-
Carnegie opens his first steel plant, the Edgar Thomson Works, in Braddock, Pennsylvania. The plant is named for the president of the Pennsylvania Railroad.
-
Carnegie demonstrated his mastery of the horizontal integration concept by buying out his competitors' companies, as exhibited with this event.
-
In Forum Magazine, Andrew Carnegie published an article which defended the workers' right to unionize and celebrates open capitalism and democracy.
-
Carnegie's book urged the fabulously wealthy to donate their many riches to philanthropic ventures as a way to "repay" society for their gains and successes.
-
Following an economic decline that lowered his employees' wages, a union at Carnegie's Homestead Mill struck. Henry Frick was trusted to dismantle the effort but his harsh tactics and cruelty in doing so corrupted Carnegie's name.
-
Banker JP Morgan purchased Andrew Carnegie's interests in Carnegie Steel for a whopping $480 million, almost 50% went directly into Carnegie's pocket for his philanthropic ventures.
-
Carnegie established his largest charitable organization and endowed it with $125 million for use to help educational facilities in New York.
