A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors


 Part 1 : Colonial and Mercantile America  Part 2 : America in the Gilded Age
 Part 3 : America in the Twentieth Century  Encyclopedia of American Wealth

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  Part II-Chapter 1 : Trusts > Steel Kings > Andrew Carnegie  :     Previous  1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 -
                                                                                                                                               
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   Andrew Carnegie - iron industrialist and steel king

Page entitled : Huge steel profits and ousting of William Coleman

Content of this page is about :
How under William P. Shinn and Captain Bill Jones the Edgar Thomson Steel works made huge profits and how Andrew Carnegie ousted William Coleman and bought his share

Extract :
... Holley had guaranteed a plant with a capacity of 75000 tons of steel ingots per year and forecasted that it would pay back within a year . Whereas the capacity was very soon surpassed, the decline of steel prices during the recession years lengthened the pay back period. But by 1879, when the output reached 107877 tons of ingots of which 76043 were rolled into rails, the original investment was paid back and in 1880 alone, the profits  ...

 

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