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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 75’000 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 107’877 tons of ingots of which 76’043 were rolled into
rails, the original investment was paid back and in 1880 alone, the profits ...
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