His entrance of the realm of steel was much too long for Mr. Carnegie to discuss, although he was not unwilling to give information relating to the subject. It appears that he realized the immensity of the steel manufacturing business at once. The Union Iron Mills soon followed as one of the enterprises, and, later, the famous Edgar Thompson Steel Rail Mill. The last was the outcome of a visit to England, in 1868, when Carnegie noticed that English railways were discarding iron for steel rails. The Bessemer process had been then perfected, and was making its way in all the iron-producing countries. Carnegie, recognizing that it was destined to revolutionize the iron business, introduced it into his mills and made steel rails with which he was enabled to compete with English manufacturers.
HOMESTEAD STEEL WORKS
His next enterprise was the purchase of the Homestead Steel Works,—his great rival in Pittsburg. In 1888, he had built or acquired seven distinct iron and steel works, all of which are now included in the Carnegie Steel Company, Limited. All the plants of this great firm are within a radius of five miles of Pittsburg. Probably in no other part of the world can be found such an aggregation of splendidly equipped steel works as those controlled by this association. It now comprises the Homestead Steel Works, the Edgar Thompson Steel Works and Furnaces, the Duquesne Steel Works and Furnaces, all within two miles of one another; the Lucy Furnaces, the Keystone Bridge Works, the Upper Union Rolling Mills, and the Lower Union Rolling Mills.
In all branches, including the great coke works, mines, etc., there are employed twenty-five thousand men. The monthly pay roll exceeds one million, one hundred and twenty-five thousand dollars, or nearly fifty thousand dollars for each working day. Including the Frick Coke Company, the united capital of the Carnegie Steel Company exceeds sixty million dollars.
A STRENGTHENING POLICY
“You believe in taking active measures,” I said, “to make men successful.”
Partial view of the Homestead Steel Works.
“I believe in anything which will help men to help themselves. To induce them to save, every workman in our company is allowed to deposit part of his earnings, not exceeding two thousand dollars, with the firm, on which the high interest rate of six per cent. is allowed. The firm also lends to any of its workmen to buy a lot, or to build a house, taking its pay by installments.”
“Has this contributed to the success of your company?”