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 : Ejection of Andrew Kloman

Content of this page is about :
How Andrew Kloman suffered losses in outside investments and was forced to sell out to Henry Phipps and the Carnegies who incorporated the Edgar Thomson Steel Co Ltd


Extract :
... invested in the Cascade Iron Company and the Escanaba Furnace Company. Because of Andrew Carnegie’s profit retention policy, Kloman was forced to borrow money for these investments, using his shares in the Carnegie companies as collateral. When his outside investments failed and he was held liable for the debts  ...

 

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