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143-623: March 12, 1874 was the first meeting of the Board of Trustees of the Stoughton Public Library, preceding the opening of the library on March 17 at its original location in Morton Square. Wales French was the first to hold the position of librarian. In 1881 the Board applied to businessman and philanthropist Andrew Carnegie for funding for a dedicated library building and was denied. The library moved three times and by 1900

286-485: A " self-made man " in both his economic development and his intellectual and cultural development. He was so grateful to Colonel Anderson for the use of his library that he "resolved, if ever wealth came to me, [to see to it] that other poor boys might receive opportunities similar to those for which we were indebted to the nobleman". His capacity, his willingness for hard work, his perseverance, and his alertness soon brought him opportunities. Starting in 1853, when Carnegie

429-548: A $ 600 mortgage on the family's $ 700 home, but the opportunity was available only because of Carnegie's close relationship with Scott. A few years later, he received a few shares in Theodore Tuttle Woodruff 's sleeping car company as a reward for holding shares that Woodruff had given to Scott and Thomson, as a payoff. Reinvesting his returns in such inside investments in railroad-related industries (iron, bridges, and rails ), Carnegie slowly accumulated capital,

572-709: A bond salesman, raising money for American enterprise in Europe. He built Pittsburgh's Carnegie Steel Company , which he sold to J. P. Morgan in 1901 for $ 303,450,000 (equal to $ 11,113,550,000 today); it formed the basis of the U.S. Steel Corporation . After selling Carnegie Steel, he surpassed John D. Rockefeller as the richest American of the time. Carnegie devoted the remainder of his life to large-scale philanthropy, with special emphasis on building local libraries , working for world peace, education, and scientific research. He funded Carnegie Hall in New York City,

715-608: A central figure in the city's business community. He bought a residence in 1884 on 54th Street near the mansions of other magnates such as William Henry Vanderbilt . Despite personal threats and constant pleas for charity, Rockefeller took the new elevated train to his downtown office daily. In 1887, Congress created the Interstate Commerce Commission which was tasked with enforcing equal rates for all railroad freight, but by then Standard depended more on pipeline transport. More threatening to Standard's power

858-459: A collision with steel magnate Andrew Carnegie , and their competition became a major subject of the newspapers and cartoonists. He went on a massive buying spree acquiring leases for crude oil production in Ohio, Indiana, and West Virginia, as the original Pennsylvania oil fields began to play out. Amid the frenetic expansion, Rockefeller began to think of retirement. The daily management of the trust

1001-515: A conservationist. Great-grandson John Davison "Jay" Rockefeller IV served from 1985 until 2015 as a Democratic Senator from West Virginia after serving as governor of West Virginia, and another Winthrop served as lieutenant governor of Arkansas for a decade. John D. Rockefeller was born in Richford, New York , then part of the Burned-over district , a New York state region that became

1144-402: A decent offer. If they refused his offer, he told them he would run them into bankruptcy and then cheaply buy up their assets at auction. However, he did not intend to eliminate competition entirely. In fact, his partner Pratt said of that accusation "Competitors we must have ... If we absorb them, it surely will bring up another." Instead of wanting to eliminate them, Rockefeller saw himself as

1287-409: A firestorm of protest from independent oil well owners, including boycotts and vandalism, which led to the discovery of Standard Oil's part in the deal. A major New York refiner, Charles Pratt and Company , headed by Charles Pratt and Henry H. Rogers , led the opposition to this plan, and railroads soon backed off. Pennsylvania revoked the cartel's charter, and non-preferential rates were restored for

1430-406: A huge backlash against the company, Tarbell stated she was surprised at its magnitude. "I never had an animus against their size and wealth, never objected to their corporate form. I was willing that they should combine and grow as big and wealthy as they could, but only by legitimate means. But they had never played fair, and that ruined their greatness for me." Tarbell's father had been driven out of

1573-400: A large business is merely a survival of the fittest." Rockefeller was the second of six children born in Richford, New York , to con artist William A. Rockefeller Sr. and Eliza Davison. Rockefeller had an elder sister named Lucy and four younger siblings: William Jr. , Mary, and fraternal twins Franklin (Frank) and Frances. His father was of English and German descent, while his mother

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1716-584: A million dollars in business) and $ 17,000 worth of profit, respectively, and their profits soared with the outbreak of the American Civil War when the Union Army called for massive amounts of food and supplies. During the second year of the American Civil War , Gardner withdrew from the business, and the firm became Clark & Rockefeller. When the Civil War was nearing a close and with

1859-463: A month. His final year provided him $ 58 a month. As a youth, Rockefeller reportedly said that his two great ambitions were to make $ 100,000 (equivalent to $ 3.27 million in 2023 dollars) and to live 100 years. In 1859, Rockefeller went into the produce commission business with two partners, Maurice B. Clark and George W. Gardner , under Clark, Gardner & Company, and they raised $ 4,000 ($ 135,644 in 2023 dollars) in capital. Clark initiated

2002-459: A partner, and the firm of Rockefeller, Andrews & Flagler was established. By 1868, with Rockefeller continuing practices of borrowing and reinvesting profits, controlling costs, and using refineries' waste, the company owned two Cleveland refineries and a marketing subsidiary in New York ; it was the largest oil refinery in the world. Rockefeller, Andrews & Flagler was the predecessor of

2145-492: A philanthropist. From 1901 forward, public attention was turned from the shrewd business acumen which had enabled Carnegie to accumulate such a fortune, to the public-spirited way in which he devoted himself to using it on philanthropic projects. He had written about his views on social subjects and the responsibilities of great wealth in Triumphant Democracy (1886) and Gospel of Wealth (1889). Carnegie devoted

2288-480: A point of naming it after Thomson. As well as having good business sense, Carnegie possessed charm and literary knowledge. He was invited to many important social functions, which Carnegie exploited to his advantage. Carnegie, through Keystone, supplied the steel for and owned shares in the landmark Eads Bridge project across the Mississippi River at St. Louis , Missouri (completed 1874). This project

2431-759: A possible career. In September 1855, when Rockefeller was sixteen, he got his first job as an assistant bookkeeper working for a small produce commission firm in Cleveland called Hewitt & Tuttle. He worked long hours and delighted, as he later recalled, in "all the methods and systems of the office." He was particularly adept at calculating transportation costs, which served him well later in his career. Much of Rockefeller's duties involved negotiating with barge canal owners, ship captains, and freight agents. In these negotiations, he learned that posted transportation rates that were believed to be fixed could be altered depending on conditions and timing of freight and through

2574-535: A principal stockholder of the Denver and Rio Grande, for a loan. Gould, via Frederick Taylor Gates , Rockefeller's financial adviser, brought John D. Rockefeller in to help finance the loan. Analysis of the company's operations by John D. Rockefeller Jr. showed a need for substantially more funds which were provided in exchange for acquisition of CF&I's subsidiaries such as the Colorado and Wyoming Railway Company,

2717-522: A public library; in 1886, he gave $ 250,000 to Allegheny City, Pennsylvania , for a music hall and library; and he gave $ 250,000 to Edinburgh for a free library. In total, Carnegie funded some 3,000 libraries, located in 47 U.S. states, and also in Canada, Britain, Ireland, Belgium, Serbia, France, Australia, New Zealand, South Africa, the West Indies , and Fiji . He also donated £50,000 to help set up

2860-702: A regular contributor to numerous magazines, most notably The Nineteenth Century , under the editorship of James Knowles , and the influential North American Review , led by the editor Lloyd Bryce . In 1889, Carnegie published "Wealth" in the June issue of the North American Review . After reading it, Gladstone requested its publication in Britain, where it appeared as "The Gospel of Wealth" in The Pall Mall Gazette . Carnegie argued that

3003-539: A result, Rockefeller and his associates owned dozens of separate corporations, each of which operated in just one state; the management of the whole enterprise was rather unwieldy. In 1882, Rockefeller's lawyers created an innovative form of corporation to centralize their holdings, giving birth to the Standard Oil Trust. The " trust " was a corporation of corporations, and the entity's size and wealth drew much attention. Nine trustees, including Rockefeller, ran

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3146-513: A son together. He was a faithful congregant of the Erie Street Baptist Mission Church, taught Sunday school, and served as a trustee, clerk, and occasional janitor. Religion was a guiding force throughout his life, and he believed it to be the source of his success. Rockefeller was also considered a supporter of capitalism based on a perspective of social Darwinism , and he was quoted often as saying, "The growth of

3289-600: A special vault was built to house the physical bulk of nearly $ 230 million worth of bonds. Carnegie continued his business career; some of his literary intentions were fulfilled. He befriended the English poet Matthew Arnold , the English philosopher Herbert Spencer , and the American humorist Mark Twain , as well as being in correspondence and acquaintance with most of the U.S. Presidents , statesmen, and notable writers. Carnegie constructed commodious swimming-baths for

3432-610: A steel rolling mill , and steel production and control of industry became the source of his fortune. Carnegie had some investments in the iron industry before the war. After the war, Carnegie left the railroads to devote his energies to the ironworks trade. Carnegie worked to develop several ironworks, eventually forming the Keystone Bridge Works and the Union Ironworks, in Pittsburgh. Although he had left

3575-554: A substantial breadwinner. But Carnegie attracted the attention of John Hay, a Scottish manufacturer of bobbins, who offered him a job for $ 2.00 per week ($ 70 by 2023 inflation). In his autobiography, Carnegie writes about the hardships he had to endure with this new job: Soon after this Mr. John Hay, a fellow Scotch manufacturer of bobbins in Allegheny City, needed a boy, and asked whether I would not go into his service. I went, and received two dollars per week; but at first

3718-537: A success and a source of profit for Woodruff and Carnegie. The young Carnegie continued to work for Pennsylvania's Tom Scott and introduced several improvements in the service. In the spring of 1861, Carnegie was appointed by Scott, who was now Assistant Secretary of War in charge of military transportation, as Superintendent of the Military Railways and the Union Government's telegraph lines in

3861-413: A ten-week business course at Folsom's Commercial College , where he studied bookkeeping. Rockefeller was a well-behaved, serious, and studious boy despite his father's absences and frequent family moves. His contemporaries described him as reserved, earnest, religious, methodical, and discreet. He was an excellent debater and expressed himself precisely. He also had a deep love of music and dreamed of it as

4004-464: A thorough education, making the acquaintance of literary men. I figure that this will take three years' active work. I shall pay especial attention to speaking in public. We can settle in London and I can purchase a controlling interest in some newspaper or live review and give the general management of it attention, taking part in public matters, especially those connected with education and improvement of

4147-506: A trip to the United Kingdom. They toured Scotland by coach and enjoyed several receptions en route. The highlight was a return to Dunfermline, where Carnegie's mother laid the foundation stone of a Carnegie Library which he funded. Carnegie's criticism of British society did not mean dislike; on the contrary, one of Carnegie's ambitions was to act as a catalyst for a close association between English-speaking peoples. To this end, in

4290-493: A typical weaver's cottage with only one main room. It consisted of half the ground floor, which was shared with the neighboring weaver's family. The main room served as a living room, dining room and bedroom. He was named after his paternal grandfather. William Carnegie had a successful weaving business and owned multiple looms. In 1836, the family moved to a larger house in Edgar Street (opposite Reid's Park), following

4433-536: Is what we now, many years later, call ' vertical integration ' I do not know whether Mr. Rockefeller ever used the word 'integration'. I only know he conceived the idea. In 1877, Standard clashed with Thomas A. Scott , the president of the Pennsylvania Railroad , Standard's chief hauler. Rockefeller envisioned pipelines as an alternative transport system for oil and began a campaign to build and acquire them. The railroad, seeing Standard's incursion into

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4576-626: The Carnegie Institution at Washington, D.C., to encourage research and discovery. He later contributed more to these and other schools. CIT is now known as Carnegie Mellon University after it merged with the Mellon Institute of Industrial Research . Carnegie also served on the Boards of Cornell University and Stevens Institute of Technology . In 1911, Carnegie became a sympathetic benefactor to George Ellery Hale , who

4719-606: The L’Ecole des Beaux Arts in Paris and had been raised on the lot adjacent to the land purchased from his family to be used for the library. The library, a brick Georgian Revival , was dedicated on June 30, 1904. The building housed the library as well as the Stoughton Historical Society at 6 Park Street. In 1969 a modern library was built to meet the needs of the town at nearby 84 Park Street. The old building

4862-808: The Peace Palace in The Hague , founded the Carnegie Corporation of New York , Carnegie Endowment for International Peace , Carnegie Institution for Science , Carnegie Trust for the Universities of Scotland , Carnegie Hero Fund , Carnegie Mellon University , and the Carnegie Museums of Pittsburgh , among others. Andrew Carnegie was born to Margaret (Morrison) Carnegie and William Carnegie in Dunfermline , Scotland, in

5005-744: The Philippines . Carnegie strongly opposed the idea of American colonies. He opposed the annexation of the Philippines almost to the point of supporting William Jennings Bryan against McKinley in 1900. In 1898, Carnegie tried to arrange independence for the Philippines. As the conclusion of the Spanish–American War neared, the United States purchased the Philippines from Spain for $ 20 million. To counter what he perceived as American imperialism , Carnegie personally offered $ 20 million to

5148-497: The South Improvement Company offering special deals to bulk customers like Standard Oil, outside the main oil centers. The cartel offered preferential treatment as a high-volume shipper, which included not just steep discounts/rebates of up to 50% for their product but rebates for the shipment of competing products. Part of this scheme was the announcement of sharply increased freight charges. This touched off

5291-506: The Southern United States . Rockefeller's wealth soared as kerosene and gasoline grew in importance, and he became the richest person in the country, controlling 90% of all oil in the United States at his peak in 1900. Oil was used in lamps, and as a fuel for ships and automobiles. Standard Oil was the greatest business trust in the United States. Through use of the company's monopoly power , Rockefeller revolutionized

5434-1079: The Supreme Court of the United States found Standard Oil Company of New Jersey in violation of the Sherman Antitrust Act . By then the trust still had a 70% market share of the refined oil market but only 14% of the U.S. crude oil supply. The court ruled that the trust originated in illegal monopoly practices and ordered it to be broken up into 34 new companies. These included, among many others, Continental Oil, which became Conoco , now part of ConocoPhillips ; Standard of Indiana, which became Amoco , now part of BP ; Standard of California, which became Chevron ; Standard of New Jersey, which became Esso (and later, Exxon ), now part of ExxonMobil ; Standard of New York, which became Mobil , now part of ExxonMobil; and Standard of Ohio, which became Sohio , now part of BP. Pennzoil and Chevron have remained separate companies. Rockefeller, who had rarely sold shares, held over 25% of Standard's stock at

5577-758: The United States Steel Corporation . It was the first corporation in the world with a market capitalization of over $ 1 billion. The buyout, secretly negotiated by Charles M. Schwab (no relation to Charles R. Schwab ), was the largest such industrial takeover in United States history to date. The holdings were incorporated in the United States Steel Corporation, a trust organized by Morgan, and Carnegie retired from business. His steel enterprises were bought out for $ 303,450,000. Carnegie's share of this amounted to $ 225.64 million (in 2023, $ 8.26 billion), which

5720-479: The University of Birmingham in 1899. As Van Slyck (1991) showed, during the last years of the 19th century, there was the increasing adoption of the idea that free libraries should be available to the American public. But the design of such libraries was the subject of prolonged and heated debate. On one hand, the library profession called for designs that supported efficiency in administration and operation; on

5863-502: The district of Neuwied . In 1864, Rockefeller married Laura Celestia "Cettie" Spelman (1839–1915), daughter of Harvey Buell Spelman and Lucy Henry. They had four daughters and one son together. He said later, "Her judgment was always better than mine. Without her keen advice, I would be a poor man." The Rockefeller wealth, distributed as it was through a system of foundations and trusts, continued to fund family philanthropic, commercial, and, eventually, political aspirations throughout

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6006-455: The 1880s Standard Oil had passed its peak of power over the world oil market. Rockefeller finally gave up his dream of controlling all the world's oil refining; he admitted later, "We realized that public sentiment would be against us if we actually refined all the oil." Over time, foreign competition and new finds abroad eroded his dominance. In the early 1880s, Rockefeller created one of his most important innovations. Rather than try to influence

6149-550: The 20th century. John Jr.'s youngest son David Rockefeller was a leading New York banker, serving for over 20 years as CEO of Chase Manhattan (now part of JPMorgan Chase ). Second son Nelson Aldrich Rockefeller was Republican governor of New York and the 41st Vice President of the United States . Fourth son Winthrop Aldrich Rockefeller served as Republican Governor of Arkansas . Grandchildren Abigail Aldrich "Abby" Rockefeller and John Davison Rockefeller III became philanthropists. Grandson Laurance Spelman Rockefeller became

6292-417: The 41 companies in the trust. The public and the press were immediately suspicious of this new legal entity, and other businesses seized upon the idea and emulated it, further inflaming public sentiment. Standard Oil had gained an aura of invincibility, always prevailing against competitors, critics, and political enemies. It had become the richest, biggest, most feared business in the world, seemingly immune to

6435-419: The Civil War, military consumption of oil drove the price up from $ .35 a barrel in 1862 to as high as $ 13.75. This created an oil-drilling glut, with thousands of speculators attempting to make their fortunes. Most failed, but those who struck oil did not even need to be efficient. They would blow holes in the ground and gather up the oil as they could, often leading to creeks and rivers flowing with wasted oil in

6578-541: The Columbia Oil Company in Venango County, Pennsylvania . In one year, the firm yielded over $ 1 million in cash dividends, and petroleum from oil wells on the property sold profitably. The demand for iron products, such as armor for gunboats, cannons, and shells, as well as a hundred other industrial products, made Pittsburgh a center of wartime production. Carnegie worked with others in establishing

6721-553: The Commonwealth of Pennsylvania indicted Rockefeller in 1879 on charges of monopolizing the oil trade, starting an avalanche of similar court proceedings in other states and making a national issue of Standard Oil's business practices. Rockefeller was under great strain during the 1870s and 1880s when he was carrying out his plan of consolidation and integration and being attacked by the press. He complained that he could not stay asleep most nights. Rockefeller later commented: All

6864-676: The Crystal River Railroad Company, and possibly the Rocky Mountain Coal and Iron Company. Control was passed from the Iowa Group to Gould and Rockefeller interests in 1903 with Gould in control and Rockefeller and Gates representing a minority interests. Osgood left the company in 1904 and devoted his efforts to operating competing coal and coke operations. The strike, called in September 1913 by

7007-526: The East. Carnegie helped open the rail lines into Washington D.C. that the rebels had cut; he rode the locomotive pulling the first brigade of Union troops to reach Washington D.C. Following the defeat of Union forces at Bull Run , he personally supervised the transportation of the defeated forces. Under his organization, the telegraph service rendered efficient service to the Union cause and significantly assisted in

7150-583: The Euclid Avenue Baptist Church)—an independent Baptist church that eventually associated with the Northern Baptist Convention (1907–1950; now part of the modern American Baptist Churches USA ). His mother was deeply religious and disciplined, and had a major influence on him in religious matters. During church service, his mother would urge him to contribute his few pennies to the congregation. Rockefeller associated

7293-594: The German origin of Rockefeller and traced them to the early 17th century. Johann Peter Rockenfeller (baptized September 27, 1682, in the Protestant church of Rengsdorf ) immigrated in 1723 from Altwied (today a district of Neuwied , Rhineland-Palatinate ) with three children to North America. He settled in Germantown, Pennsylvania . The name Rockenfeller refers to the now-abandoned village of Rockenfeld in

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7436-846: The Hartman Steel Works, the Frick Coke Company, and the Scotia ore mines. Carnegie combined his assets and those of his associates in 1892 with the launching of the Carnegie Steel Company . Carnegie's success was also due to his relationship with the railroad industries, which not only relied on steel for track, but were also making money from steel transport. The steel and railroad barons worked closely to negotiate prices instead of allowing free-market competition. Besides Carnegie's market manipulation, United States trade tariffs were also working in favor of

7579-549: The Pennsylvania Railroad Company, he remained connected to its management, namely Thomas A. Scott and J. Edgar Thomson. He used his connection to the two men to acquire contracts for his Keystone Bridge Company and the rails produced by his ironworks . He also gave stock in his businesses to Scott and Thomson, and the Pennsylvania was his best customer. When he built his first steel plant, he made

7722-534: The Pennsylvania Railroad would be vital to his later success. The railroads were the first big businesses in America, and the Pennsylvania was one of the largest. Carnegie learned much about management and cost control during these years, and from Scott in particular. Scott also helped him with his first investments. Many of these were part of the corruption indulged in by Scott and the president of

7865-481: The Pennsylvania Railroad, John Edgar Thomson , which consisted of inside trading in companies with which the railroad did business, or payoffs made by contracting parties "as part of a quid pro quo ". In 1855, Scott made it possible for Carnegie to invest $ 500 in the Adams Express Company , which contracted with the Pennsylvania to carry its messengers. The money was secured by his mother's placing of

8008-730: The Philippines so that the Filipino people could purchase their independence from the United States. However, nothing came of the offer. In 1898 Carnegie joined the American Anti-Imperialist League , in opposition to the U.S. annexation of the Philippines. Its membership included former presidents of the United States Grover Cleveland and Benjamin Harrison and literary figures such as Mark Twain . Carnegie spent his last years as

8151-473: The Rockefellers and the coal industry. The United States Commission on Industrial Relations conducted extensive hearings, singling out John D. Rockefeller Jr. and the Rockefellers' relationship with Bowers for special attention. Bowers was relieved of duty and Wellborn restored to control in 1915, then industrial relations improved. Rockefeller denied any responsibility and minimized the seriousness of

8294-525: The Standard Oil Company. By the end of the American Civil War , Cleveland was one of the five main refining centers in the U.S. (besides Pittsburgh, Pennsylvania , New York , and the region in northwestern Pennsylvania where most of the oil originated). By 1869 there was triple the kerosene refining capacity than needed to supply the market, and the capacity remained in excess for many years. On January 10, 1870, Rockefeller abolished

8437-876: The U.S. output of steel exceeded that of the UK, and Carnegie owned a large part of it. Carnegie's empire grew to include the J. Edgar Thomson Steel Works in Braddock (named for John Edgar Thomson , Carnegie's former boss and president of the Pennsylvania Railroad), the Pittsburgh Bessemer Steel Works, the Lucy Furnaces , the Union Iron Mills, the Union Mill (Wilson, Walker & County), the Keystone Bridge Works,

8580-530: The US gross domestic product (GDP) of $ 39.1 billion that year. Rockefeller spent much of the last 40 years of his life in retirement at Kykuit , his estate in Westchester County, New York, defining the structure of modern philanthropy, along with other key industrialists such as Andrew Carnegie . His fortune was used chiefly to create the modern systematic approach of targeted philanthropy through

8723-473: The United Mine Workers over the issue of union representation , was against coal mine operators in Huerfano and Las Animas counties of southern Colorado, where the majority of CF&I's coal and coke production was located. The strike was fought vigorously by the coal mine operators association and its steering committee, which included Welborn, president of CF&I, a spokesman for the coal operators. Rockefeller's operative, Lamont Montgomery Bowers, remained in

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8866-441: The United States in 1848 for the prospect of a better life. They headed to Allegheny, Pennsylvania , where they heard there was a demand for workers. Carnegie's emigration to America was his second journey outside Dunfermline. The first was a family outing to Edinburgh to see Queen Victoria . In September 1848, Carnegie and his family arrived in Allegheny. Carnegie's father struggled to sell his product on his own. Eventually,

9009-409: The United States. When Carnegie was 12, his father had fallen on tough times as a handloom weaver. Making matters worse, the country was in starvation. His mother helped support the family by assisting her brother and by selling potted meats at her "sweetie shop", becoming the primary breadwinner. Struggling to make ends meet, the Carnegies decided to borrow money from George Lauder, Sr. and move to

9152-436: The United States. One of his two great innovations was in the cheap and efficient mass production of steel by adopting and adapting the Bessemer process , which allowed the high carbon content of pig iron to be burnt away in a controlled and rapid way during steel production . Steel prices dropped as a result, and Bessemer steel was rapidly adopted for rails; however, it was not suitable for buildings and bridges. The second

9295-452: The Western Division of the Pennsylvania Railroad. On December 1, 1859, Carnegie officially became superintendent of the Western Division. He hired his sixteen-year-old brother Tom to be his personal secretary and telegraph operator. Carnegie also hired his cousin, Maria Hogan, who became the first female telegraph operator in the country. As superintendent, Carnegie made a salary of $ 1500 a year ($ 51,000 by 2023 inflation). His employment by

9438-436: The background. Few miners belonged to the union or participated in the strike call, but the majority honored it. Strikebreakers (called "scabs") were threatened and sometimes attacked. Both sides purchased substantial arms and ammunition. Striking miners were forced to abandon their homes in company towns and lived in tent cities erected by the union, such as the tent city at Ludlow, a railway stop north of Trinidad . Under

9581-525: The basis for his later success. Throughout his later career, he made use of his close connections to Thomson and Scott, as he established businesses that supplied rails and bridges to the railroad, offering the two men stakes in his enterprises. Before the American Civil War , Carnegie arranged a merger between Woodruff's company and that of George Pullman , the inventor of the sleeping car for first-class travel , which facilitated business travel at distances over 500 miles (800 km). The investment proved

9724-494: The basis for the US medical system of the 20th century. Rockefeller was the founder of the University of Chicago and Rockefeller University , and funded the establishment of Central Philippine University in the Philippines. He was a devout Northern Baptist and supported many church-based institutions. He adhered to total abstinence from alcohol and tobacco throughout his life. For advice, he relied closely on his wife, Laura Spelman Rockefeller : they had four daughters and

9867-404: The beginning, I was trained to work, to save, and to give." When he was a boy, his family moved to Moravia, New York , and to Owego, New York , in 1851, where he attended Owego Academy. In 1853, his family moved to Strongsville, Ohio , and he attended Cleveland's Central High School , the first high school in Cleveland and the first free public high school west of the Alleghenies. Then he took

10010-428: The boom and bust of the business cycle, consistently making profits year after year. The company's vast American empire included 20,000 domestic wells, 4,000 miles of pipeline, 5,000 tank cars, and over 100,000 employees. Its share of world oil refining topped out above 90% but slowly dropped to about 80% for the rest of the century. Despite the formation of the trust and its perceived immunity from all competition, by

10153-471: The company's board of directors. In full retirement at age 63, Rockefeller earned over $ 58 million (~$ 1.65 billion in 2023) in investments in 1902. One of the most effective attacks on Rockefeller and his firm was the 1904 publication of The History of the Standard Oil Company , by Ida Tarbell , a leading muckraker . She documented the company's espionage, price wars, heavy-handed marketing tactics, and courtroom evasions. Although her work prompted

10296-519: The creation of foundations that supported medicine, education, and scientific research. His foundations pioneered developments in medical research and were instrumental in the near-eradication of hookworm in the American South, and yellow fever in the United States. He and Carnegie gave form and impetus through their charities to the work of Abraham Flexner , who in his essay "Medical Education in America" emphatically endowed empiricism as

10439-715: The demand for more heavy damask , from which his father benefited. Carnegie was educated at the Free School in Dunfermline, a gift to the town from philanthropist Adam Rolland of Gask. Carnegie's maternal uncle, Scottish political leader George Lauder Sr. , deeply influenced him as a boy by introducing him to Robert Burns ' writings and historical Scottish heroes such as Robert the Bruce , William Wallace , and Rob Roy . Lauder's son, also named George Lauder , grew up with Carnegie and later became his business partner in

10582-412: The different sounds the incoming telegraph signals produced. He developed the ability to translate signals by ear, without using the paper slip. Within a year he was promoted to an operator. Carnegie's education and passion for reading were given a boost by Colonel James Anderson , who opened his personal library of 400 volumes to working boys each Saturday night. Carnegie was a consistent borrower and

10725-521: The early 1880s in partnership with Samuel Storey , he purchased numerous newspapers in Britain, all of which were to advocate the abolition of the monarchy and the establishment of "the British Republic". Carnegie's charm, aided by his wealth, afforded him many British friends, including Prime Minister William Ewart Gladstone . In 1886, Carnegie's younger brother Thomas died at age 43. While owning steel works, Carnegie had purchased at low cost

10868-447: The end of the 1870s, Standard was refining over 90% of the oil in the U.S. Rockefeller had already become a millionaire ($ 1 million is equivalent to $ 32 million in 2023 dollars). He instinctively realized that orderliness would only proceed from centralized control of large aggregations of plant and capital, with the one aim of an orderly flow of products from the producer to the consumer. That orderly, economic, efficient flow

11011-439: The established laws of high-class dealing" seemed to be at odds with his true business methods. Rockefeller and his son continued to consolidate their oil interests as best they could until New Jersey, in 1909, changed its incorporation laws to effectively allow a re-creation of the trust in the form of a single holding company . Rockefeller retained his nominal title as president until 1911 and he kept his stock. At last in 1911,

11154-467: The establishment of public libraries throughout the United States, Britain, Canada, New Zealand, and mostly other English-speaking countries was especially prominent. In this special driving interest of his, Carnegie was inspired by meetings with philanthropist Enoch Pratt (1808–1896). The Enoch Pratt Free Library (1886) of Baltimore, Maryland , impressed Carnegie deeply; he said, "Pratt was my guide and inspiration." Carnegie turned over management of

11297-624: The event. When testifying on the Ludlow Massacre , and asked what action he would have taken as Director, John D. Rockefeller Jr. stated, "I would have taken no action. I would have deplored the necessity which compelled the officers of the company to resort to such measures to supplement the State forces to maintain law and order." He admitted that he had made no attempt to bring the militiamen to justice. Against long-circulating speculations that his family has French roots, genealogists proved

11440-471: The eventual victory. Carnegie later joked that he was "the first casualty of the war" when he gained a scar on his cheek from freeing a trapped telegraph wire. The defeat of the Confederacy required vast supplies of munitions , railroads and telegraph lines to deliver the goods. The war demonstrated how integral the industries were to Union success. In 1864, Carnegie was one of the early investors in

11583-419: The father and son both received job offers at Anchor Cotton Mills, a Scottish-owned facility. Carnegie's first job in 1848 was as a bobbin boy , changing spools of thread in a cotton mill 12 hours a day, 6 days a week in a Pittsburgh cotton factory. His starting wage was $ 1.20 per week ($ 42 by 2023 inflation). His father soon quit his position at the cotton mill, returning to his loom, and was again removed as

11726-476: The fortune that I have made has not served to compensate me for the anxiety of that period. Although it always had hundreds of competitors, Standard Oil gradually gained dominance of oil refining and sales as market share in the United States through horizontal integration , ending up with about 90% of the US market. In the kerosene industry, the company replaced the old distribution system with its own vertical system. It supplied kerosene by tank cars that brought

11869-559: The fray providing financing. Additional fields were discovered in Burma and Java. Even more critical, the invention of the light bulb gradually began to erode the dominance of kerosene for illumination. Standard Oil adapted by developing a European presence, expanding into natural gas production in the U.S., and then producing gasoline for automobiles, which until then had been considered a waste product. Standard Oil moved its headquarters to New York City at 26 Broadway, and Rockefeller became

12012-531: The fuel to local markets, and tank wagons then delivered to retail customers, thus bypassing the existing network of wholesale jobbers. Despite improving the quality and availability of kerosene products while greatly reducing their cost to the public (the price of kerosene dropped by nearly 80% over the life of the company), Standard Oil's business practices created intense controversy. Standard's most potent weapons against competitors were underselling, differential pricing, and secret transportation rebates. The firm

12155-564: The futility of continuing to compete against Standard Oil; in 1874, they made a secret agreement with Rockefeller to be acquired. Pratt and Rogers became Rockefeller's partners. Rogers, in particular, became one of Rockefeller's key men in the formation of the Standard Oil Trust . Pratt's son, Charles Millard Pratt , became secretary of Standard Oil. For many of his competitors, Rockefeller had merely to show them his books so they could see what they were up against and then make them

12298-405: The great expansion westward fostered by the growth of railroads and an oil -fueled economy. He borrowed heavily, reinvested profits, adapted rapidly to changing markets, and fielded observers to track the quickly expanding industry. In 1866, William Rockefeller Jr., John's brother, built another refinery in Cleveland and brought John into the partnership. In 1867, Henry Morrison Flagler became

12441-403: The idea of the partnership and offered $ 2,000 towards the goal. Rockefeller had only $ 800 saved up at the time and so borrowed $ 1,000 from his father, "Big Bill" Rockefeller, at 10 percent interest. Rockefeller went steadily ahead in business from there, making money each year of his career. In their first and second years of business, Clark, Gardner & Rockefeller netted $ 4,400 (on nearly half

12584-530: The industry's savior, "an angel of mercy" absorbing the weak and making the industry as a whole stronger, more efficient, and more competitive. Standard was growing horizontally and vertically . It added its own pipelines, tank cars, and home delivery network. It kept oil prices low to stave off competitors, made its products affordable to the average household, and, to increase market penetration, sometimes sold below cost. It developed over 300 oil-based products from tar to paint to petroleum jelly to chewing gum. By

12727-461: The least efficient competing refiners, improving the efficiency of his operations, pressing for discounts on oil shipments, undercutting his competition, making secret deals, raising investment pools, and buying rivals out. In less than four months in 1872, in what was later known as "The Cleveland Conquest" or "The Cleveland Massacre", Standard Oil absorbed 22 of its 26 Cleveland competitors. Eventually, even his former antagonists, Pratt and Rogers, saw

12870-422: The library project by 1908 to his staff, led by James Bertram (1874–1934). The first Carnegie Library opened in 1883 in Dunfermline. His method was to provide funds to build and equip the library, but only on the condition that the local authority matched that by providing the land and a budget for operation and maintenance. To secure local interest, in 1885, he gave $ 500,000 to Pittsburgh, Pennsylvania , for

13013-527: The life of a wealthy industrialist should comprise two parts. The first part was the gathering and the accumulation of wealth. The second part was for the subsequent distribution of this wealth to benevolent causes. Philanthropy was key to making life worthwhile. Carnegie was a well-regarded writer. He published three books on travel. In the aftermath of the Spanish–American War , the United States seemed poised to annex Cuba , Guam , Puerto Rico and

13156-404: The most valuable of the iron ore fields around Lake Superior . Following his tour of the UK, he wrote about his experiences in a book entitled An American Four-in-hand in Britain . In 1886, Carnegie wrote his most radical work to date, entitled Triumphant Democracy . Liberal in its use of statistics to make its arguments, the book argued his view that the American republican system of government

13299-770: The oil business during the " South Improvement Company " affair. Rockefeller called her "Miss Tarbarrel" in private but held back in public saying only, "not a word about that misguided woman." He began a publicity campaign to put his company and himself in a better light. Though he had long maintained a policy of active silence with the press, he decided to make himself more accessible and responded with conciliatory comments such as "capital and labor are both wild forces which require intelligent legislation to hold them in restriction." He wrote and published his memoirs beginning in 1908. Critics found his writing to be sanitized and disingenuous and thought that statements such as "the underlying, essential element of success in business are to follow

13442-405: The old land some part of the debt we owe them by revealing more clearly than ever to them the new heavens." The telescope saw first light on November 2, 1917, with Carnegie still alive. John D. Rockefeller John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) was an American business magnate and philanthropist. He was one of the wealthiest Americans of all time and one of

13585-429: The other 40% in rivers and massive sludge piles, Rockefeller used the gasoline to fuel the refinery, and sold the rest as lubricating oil, petroleum jelly and paraffin wax, and other by-products. Tar was used for paving, naphtha shipped to gas plants. Likewise, Rockefeller's refineries hired their own plumbers, cutting the cost of pipe-laying in half. Barrels that cost $ 2.50 each ended up only $ 0.96 when Rockefeller bought

13728-472: The other, wealthy philanthropists favored buildings that reinforced the paternalistic metaphor and enhanced civic pride. Between 1886 and 1917, Carnegie reformed both library philanthropy and library design, encouraging a closer correspondence between the two. In 1900, Carnegie gave $ 2 million to start the Carnegie Institute of Technology (CIT) at Pittsburgh and the same amount in 1902 to create

13871-425: The partnership of Rockefeller, Andrews & Flagler, co-founding Standard Oil of Ohio. Continuing to apply his work ethic and efficiency, Rockefeller quickly expanded the company to be the most profitable refiner in Ohio. Likewise, it became one of the largest shippers of oil and kerosene in the country. The railroads competed fiercely for traffic and, in an attempt to create a cartel to control freight rates, formed

14014-558: The people of his hometown in Dunfermline in 1879. In the following year, Carnegie gave £8,000 for the establishment of a Dunfermline Carnegie Library in Scotland. In 1884, he gave $ 50,000 to Bellevue Hospital Medical College (now part of New York University Medical Center ) to create a histological laboratory, now called the Carnegie Laboratory. In 1881, Carnegie took his family, including his 70-year-old mother, on

14157-417: The petroleum industry and, through corporate and technological innovations, was instrumental in both widely disseminating and drastically reducing the production cost of oil. Rockefeller's company and business practices came under criticism, particularly in the writings of author Ida Tarbell . The Supreme Court ruled in 1911 that Standard Oil must be dismantled for violation of federal antitrust laws . It

14300-427: The place of water. A market existed for the refined oil in the form of kerosene. Coal had previously been used to extract kerosene, but its tedious extraction process and high price prevented broad use. Even with the high costs of freight transportation and a government levy during the Civil War (the government levied a tax of twenty cents a gallon on refined oil), profits on the refined product were large. The price of

14443-406: The poorer classes. Man must have no idol and the amassing of wealth is one of the worst species of idolatry ! No idol is more debasing than the worship of money! Whatever I engage in I must push inordinately; therefore should I be careful to choose that life which will be the most elevating in its character. To continue much longer overwhelmed by business cares and with most of my thoughts wholly upon

14586-517: The price of crude oil directly, Standard Oil had been exercising indirect control by altering oil storage charges to suit market conditions. Rockefeller then ordered the issuance of certificates against oil stored in its pipelines. These certificates became traded by speculators, thus creating the first oil-futures market which effectively set spot market prices from then on. The National Petroleum Exchange opened in Manhattan in late 1882 to facilitate

14729-418: The prospect of those war-time profits ending, Clark & Rockefeller looked toward the refining of crude oil. While his brother Frank fought in the Civil War, Rockefeller tended his business and hired substitute soldiers . He gave money to the Union cause, as did many rich Northerners who avoided combat. "I wanted to go in the army and do my part," Rockefeller said. "But it was simply out of the question. There

14872-464: The protection of the National Guard, some miners returned to work and some strikebreakers, imported from the eastern coalfields, joined them as Guard troops protected their movements. In February 1914, a substantial portion of the troops were withdrawn, but a large contingent remained at Ludlow. On April 20, 1914, a general fire-fight occurred between strikers and troops, which was antagonized by

15015-427: The refined oil in 1863 was around $ 13 a barrel, with a profit margin of around $ 5 to $ 8 a barrel. The capital expenditures for a refinery at that time were small – around $ 1,000 to $ 1,500 and requiring only a few men to operate. In this environment of a wasteful boom, the partners switched from foodstuffs to oil, building an oil refinery in 1863 in " The Flats ", then Cleveland's burgeoning industrial area. The refinery

15158-582: The regular household chores and earned extra money raising turkeys, selling potatoes and candy, and eventually lending small sums of money to neighbors. He followed his father's advice to "trade dishes for platters" and always get the better part of any deal. Bill once bragged, "I cheat my boys every chance I get. I want to make 'em sharp." However, his mother was more influential in John's upbringing and beyond, while he distanced himself further and further from his father as his life progressed. He later stated, "From

15301-611: The rest of his life to providing capital for purposes of public interest and social and educational advancement. He saved letters of appreciation from those he helped in a desk drawer labeled "Gratitude and Sweet Words." He provided $ 25,000 a year to the movement for spelling reform . His organization, the Simplified Spelling Board , created the Handbook of Simplified Spelling , which was written wholly in reformed spelling. Among his many philanthropic efforts,

15444-492: The rich to use their wealth to improve society, expressed support for progressive taxation and an estate tax , and stimulated a wave of philanthropy. Carnegie was born in Dunfermline, Scotland . He immigrated to what is now Pittsburgh , Pennsylvania , United States with his parents in 1848 at the age of 12. Carnegie started work as a telegrapher . By the 1860s he had investments in railroads, railroad sleeping cars, bridges, and oil derricks . He accumulated further wealth as

15587-786: The richest people in modern history. Rockefeller was born into a large family in Upstate New York who moved several times before eventually settling in Cleveland , Ohio. He became an assistant bookkeeper at age 16 and went into several business partnerships beginning at age 20, concentrating his business on oil refining . Rockefeller founded the Standard Oil Company in 1870. He ran it until 1897 and remained its largest shareholder . In his retirement, he focused his energy and wealth on philanthropy, especially regarding education, medicine, higher education, and modernizing

15730-615: The site of an evangelical revival known as the Second Great Awakening . It drew masses to various Protestant churches—especially Baptist ones—and urged believers to follow such ideals as hard work, prayer, and good deeds to build "the Kingdom of God on Earth." Early in his life, he regularly went with his siblings and mother Eliza to the local Baptist church—the Erie Street Baptist Church (later

15873-579: The size of the library to 31,058 square feet and will include improvements to make it accessible to patrons with disabilities as well as adding a cafe on the second floor. Boston-based architecture firm Finegold Alexander Architects designed the renovated space. 42°07′22″N 71°05′56″W  /  42.1228°N 71.0989°W  / 42.1228; -71.0989 Andrew Carnegie Andrew Carnegie ( English: / k ɑːr ˈ n ɛ ɡ i / kar- NEG -ee , Scots: [kɑrˈnɛːɡi] ; November 25, 1835 – August 11, 1919)

16016-565: The steel industry. Carnegie spent energy and resources lobbying Congress for a continuation of favorable tariffs from which he earned millions of dollars a year. Carnegie tried to keep this information concealed, but legal documents released in 1900, during proceedings with the ex-chairman of Carnegie Steel, Henry Clay Frick , revealed how favorable the tariffs had been. In 1901, Carnegie was 65 years of age and considering retirement. He reformed his enterprises into conventional joint stock corporations as preparation for this. John Pierpont Morgan

16159-456: The time being. While competitors may have been unhappy, Rockefeller's efforts did bring American consumers cheaper kerosene and other oil by-products. Before 1870, oil light was only for the wealthy, provided by expensive whale oil. During the next decade, kerosene became commonly available to the working and middle classes. Undeterred, though vilified for the first time by the press, Rockefeller continued with his self-reinforcing cycle of buying

16302-485: The time of the breakup. He and all of the other stockholders received proportionate shares in each of the 34 companies. In the aftermath, Rockefeller's control over the oil industry was somewhat reduced, but over the next 10 years the breakup proved immensely profitable for him. The companies' combined net worth rose fivefold and Rockefeller's personal wealth jumped to $ 900 million. In 1902, facing cash flow problems, John Cleveland Osgood turned to George Jay Gould ,

16445-462: The trading of oil futures. Although 85% of world crude production was still coming from Pennsylvania in the 1880s, oil from wells drilled in Russia and Asia began to reach the world market. Robert Nobel had established his own refining enterprise in the abundant and cheaper Russian oil fields, including the region's first pipeline and the world's first oil tanker. The Paris Rothschilds jumped into

16588-405: The transportation and pipeline fields, struck back and formed a subsidiary to buy and build oil refineries and pipelines. Standard countered, held back its shipments, and, with the help of other railroads, started a price war that dramatically reduced freight payments and caused labor unrest. Rockefeller prevailed and the railroad sold its oil interests to Standard. In the aftermath of that battle,

16731-420: The troops and mine guards. The camp was burned, resulting in 15 women and children, who hid in tents at the camp, being burned to death. Costs to both mine operators and the union were high. This incident brought unwanted national attention to Colorado. Due to reduced demand for coal, resulting from an economic downturn, many of CF&I's coal mines never reopened and many men were thrown out of work. The union

16874-403: The use of rebates to preferred shippers. Rockefeller was also given the duties of collecting debts when Hewitt instructed him to do so. Instead of using his father's method of presence to collect debts, Rockefeller relied on a persistent pestering approach. Rockefeller received $ 16 a month for his three-month apprenticeship. During his first year, he received $ 31 a month, which was increased to $ 50

17017-409: The way to make more money in the shortest time, must degrade me beyond hope of permanent recovery. I will resign business at thirty-five, but during these ensuing two years I wish to spend the afternoons in receiving instruction and in reading systematically! Carnegie made his fortune in the steel industry, controlling the most extensive integrated iron and steel operations ever owned by an individual in

17160-504: The wood and had them built for himself. In February 1865, in what was later described by oil industry historian Daniel Yergin as a "critical" action, Rockefeller bought out the Clark brothers for $ 72,500 (equivalent to $ 1 million in 2023 dollars) at auction and established the firm of Rockefeller & Andrews. Rockefeller said, "It was the day that determined my career." He was well-positioned to take advantage of postwar prosperity and

17303-399: The work was even more irksome than the factory. I had to run a small steam-engine and to fire the boiler in the cellar of the bobbin factory. It was too much for me. I found myself night after night, sitting up in bed trying the steam gauges, fearing at one time that the steam was too low and that the workers above would complain that they had not power enough, and at another time that the steam

17446-668: Was a Scottish-American industrialist and philanthropist . Carnegie led the expansion of the American steel industry in the late 19th century and became one of the richest Americans in history. He became a leading philanthropist in the United States, Great Britain, and the British Empire . During the last 18 years of his life, he gave away around $ 350 million ($ 10.9 billion in 2023 dollars ), almost 90 percent of his fortune, to charities, foundations and universities. His 1889 article proclaiming " The Gospel of Wealth " called on

17589-484: Was a banker and America's most important financial deal maker. He had observed how efficiently Carnegie produced profits. He envisioned an integrated steel industry that would cut costs, lower prices to consumers, produce in greater quantities and raise wages to workers. To this end, he needed to buy out Carnegie and several other major producers and integrate them into one company, thereby eliminating duplication and waste. He concluded negotiations on March 2, 1901, and formed

17732-459: Was a homemaker and a devout Baptist who struggled to maintain a semblance of stability at home, as Bill was frequently gone for extended periods. She also put up with his philandering and his double life, which included bigamy. He permanently abandoned his family around 1855 and lived with second wife, Margaret L. Allen. Eliza was thrifty by nature and by necessity, and she taught her son that "willful waste makes woeful want". John did his share of

17875-559: Was an important proof-of-concept for steel technology, which marked the opening of a new steel market. Carnegie believed in using his fortune for others and doing more than making money. In 1868, at age 33, he wrote: I propose to take an income no greater than $ 50,000 per annum! Beyond this I need ever earn, make no effort to increase my fortune, but spend the surplus each year for benevolent purposes! Let us cast aside business forever, except for others. Let us settle in Oxford and I shall get

18018-409: Was around 18 years old, Thomas A. Scott of the Pennsylvania Railroad employed him as a secretary/telegraph operator at a salary of $ 4.00 per week ($ 146 by 2023 inflation). Carnegie accepted the job with the railroad as he saw more prospects for career growth and experience there than with the telegraph company. When Carnegie was 24 years old, Scott asked him if he could handle being superintendent of

18161-496: Was attacked by journalists and politicians throughout its existence, in part for these monopolistic methods, giving momentum to the antitrust movement. In 1879, the New York State Legislature 's Hepburn Committee investigations into "alleged abuses" committed by the railroads uncovered the fact that Standard Oil was receiving substantial freight rebates on all of the oil it was transporting by railroad—and

18304-408: Was broken up into 34 separate entities, which included companies that became ExxonMobil , Chevron Corporation , and others—some of which remain among the largest companies by revenue worldwide . Consequently, Rockefeller became the country's first billionaire, with a fortune worth nearly 2% of the national economy. His personal wealth was estimated in 1913 at $ 900 million, which was almost 3% of

18447-567: Was crushing Standard's competitors thereby. By 1880, according to the New York World , Standard Oil was "the most cruel, impudent, pitiless, and grasping monopoly that ever fastened upon a country". To critics, Rockefeller replied, "In a business so large as ours ... some things are likely to be done which we cannot approve. We correct them as soon as they come to our knowledge." At that time, many legislatures had made it difficult to incorporate in one state and operate in another. As

18590-466: Was described by locals as "Big Bill" and "Devil Bill." Unshackled by conventional morality, he led a vagabond existence and returned to his family infrequently. Throughout his life, Bill was notorious for conducting schemes. In between the births of Lucy and John, Bill and his mistress and housekeeper Nancy Brown had a daughter named Clorinda, who died young. Between John and William Jr.'s births, Bill and Nancy had another daughter, named Cornelia. Eliza

18733-412: Was directly owned by Andrews, Clark & Company, which was composed of Clark & Rockefeller, chemist Samuel Andrews , and M. B. Clark's two brothers. The commercial oil business was then in its infancy. Whale oil had become too expensive for the masses, and a cheaper, general-purpose lighting fuel was needed. While other refineries would keep the 60% of oil product that became kerosene, but dump

18876-638: Was forced to discontinue strike benefits in February 1915. There was destitution in the coalfields. With the help of funds from the Rockefeller Foundation , relief programs were organized by the Colorado Committee on Unemployment and Relief. A state agency created by Governor Carlson, offered work to unemployed miners building roads and doing other useful projects. The casualties suffered at Ludlow mobilized public opinion against

19019-475: Was in his vertical integration of all suppliers of raw materials. In 1883, Carnegie bought the rival Homestead Steel Works , which included an extensive plant served by tributary coal and iron fields, a 425-mile-long (684 km) railway, and a line of lake steamships . In the late 1880s, Carnegie Steel was the largest manufacturer of pig iron, steel rails, and coke in the world, with a capacity to produce approximately 2,000 tons of pig iron per day. By 1889,

19162-480: Was located inside Stoughton Town Hall. In 1902 the Board of Trustees requested private donations to build a library. Lucius B. Clapp, a local farmer, selectman, and library trustee, anonymously donated $ 25,000 to cover the cost of the building. A donation from Henry L. Pierce was used to purchase books. The architect, Walter Atherton , was trained at the Massachusetts Institute of Technology and at

19305-480: Was no one to take my place. We were in a new business, and if I had not stayed it must have stopped—and with so many dependent on it." Rockefeller was an abolitionist who voted for President Abraham Lincoln and supported the then-new Republican Party . As he said, "God gave me money", and he did not apologize for it. He felt at ease and righteous following Methodist preacher John Wesley 's dictum, "gain all you can, save all you can, and give all you can." During

19448-499: Was of Ulster Scot descent. One source says that some ancestors were Huguenots , the Roquefeuille family, who fled to Germany from France during the reign of Louis XIV and a period of religious persecution. By the time their descendants immigrated to North America, their name had taken German form. William Sr. worked first as a lumberman and then a traveling salesman. He claimed to be a "botanic physician" who sold elixirs, and

19591-583: Was paid to him in the form of 5%, 50-year gold bonds. The letter agreeing to sell his share was signed on February 26, 1901. On March 2, the circular formally filed the organization and capitalization (at $ 1.4 billion—4% of the U.S. gross domestic product at the time) of the United States Steel Corporation actually completed the contract. The bonds were to be delivered within two weeks to the Hudson Trust Company of Hoboken, New Jersey , in trust to Robert A. Franks, Carnegie's business secretary. There,

19734-701: Was renamed the Lucius Clapp Memorial and continued to house the Stoughton Historical Society. The new 22,000 square foot building with a 96,000 book capacity acquired the name Stoughton Public Library. In May 2011 Stoughton residents approved a $ 14 million renovation to the library. The funding includes $ 7 million in a matching grant from the Massachusetts Public Library Construction Program . The renovated space will increase

19877-534: Was superior to the British monarchical system. It gave a highly favorable and idealized view of American progress and criticized the British royal family. The cover depicted an upended royal crown and a broken scepter. The book created considerable controversy in the UK. The book made many Americans appreciate their country's economic progress and sold over 40,000 copies, mostly in the U.S. Although actively involved in running his many businesses, Carnegie had become

20020-489: Was the Sherman Antitrust Act of 1890, originally used to control unions, but later central to the breakup of the Standard Oil trust. Ohio was especially vigorous in applying its state antitrust laws, and finally forced a separation of Standard Oil of Ohio from the rest of the company in 1892, the first step in the dissolution of the trust. In the 1890s, Rockefeller expanded into iron ore and ore transportation, forcing

20163-615: Was too high and that the boiler might burst. In 1849, Carnegie became a telegraph messenger boy in the Pittsburgh Office of the Ohio Telegraph Company, at $ 2.50 per week ($ 92 by 2023 inflation) following the recommendation of his uncle. He was a hard worker and would memorize all of the locations of Pittsburgh's businesses and the faces of important men. He made many connections this way. He also paid close attention to his work and quickly learned to distinguish

20306-435: Was trying to build the 100-inch (2.5 m) Hooker Telescope at Mount Wilson , and donated an additional ten million dollars to the Carnegie Institution with the following suggestion to expedite the construction of the telescope: "I hope the work at Mount Wilson will be vigorously pushed, because I am so anxious to hear the expected results from it. I should like to be satisfied before I depart, that we are going to repay to

20449-791: Was turned over to John Dustin Archbold and Rockefeller bought a new estate, Pocantico Hills , north of New York City, turning more time to leisure activities including the new sports of bicycling and golf. Upon his ascent to the presidency, Theodore Roosevelt initiated dozens of suits under the Sherman Antitrust Act and coaxed reforms out of Congress. In 1901, U.S. Steel , then controlled by J. Pierpont Morgan , having bought Andrew Carnegie's steel assets, offered to buy Standard's iron interests as well. A deal brokered by Henry Clay Frick exchanged Standard's iron interests for U.S. Steel stock and gave Rockefeller and his son membership on

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