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U.S. Steel Corporation

Max Steininger World History Period 4
by

Max Steininger

on 8 May 2012

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Transcript of U.S. Steel Corporation

Monsignor John Ryan
By Max Steininger and Kevin Ross Murphy Period 7 John Ryan Thesis J.P. Morgan used his business skill to form the U.S. Steel Corporation which became one of the most powerful companies of the 20th century. -Born in 1869 in Vermillion Minnesota Attended a Christian Brothers school
-decided to become a priest
- influenced by Pope Leo XIII's Rerum Novarum Rise of An Empire J.P. Morgan was always on the lookout for new buisness Federal Steel Carnegie Steel's Other resources Iron Coal http://arthistorian.files.wordpress.com/2007/11/jpmorgan.jpg Federal Steel merges with Carnegie Steel A Trust is a group of businesses that combine together to eliminate competition and combine resources for more money. http://www.eswp.com/Images/uss_box.gif Schwab was named president

Gary became Chairman of the Board Eventually Schwab left to seek other opportunities U.S. Steel Corporation, Powerhouse of the Industry 10 different steel companies $1,000,000,000 dollars. It was capitalized around $1,400,000,000 213 mills
over 1000 miles of railraod
41 mines 66% of the Steel Industry No other expenses http://occawlonline.pearsoned.com/bookbind/pubbooks/martin_awl/medialib/download/MARTFIG173.gif http://www.consumerwarningnetwork.com/wp-content/uploads/2008/12/money-hording-executive3.jpg Critiscm Presidents had been more lenient about trusts, but not Roosevelt Investigations in many
US Steel factories Workers usually had 12 hour days USS was never fully unionnized until the 1930's critics said that US Steel was trying to become a monopoly Gary defended this by saying
“Our goal was not to create a monopoly but to sustain trade and foster competition by competing on a basis of efficiency and price.” Elbert Gary, Chairman of the Board http://www.library.northwestern.edu/archives/exhibits/alumni/gary.jpg The U.S. Steel Corporation was a dominant steel power in the early 20th century because of J.P. Morgan’s great business skill and knowledge. Citations “United States Steel Corporation”
References for Buisness
Encyclopedia of Buisness, 2nd Edition
http://www.referenceforbusiness.com/businesses/M-Z/United-States-Steel-Corporation.html

“United States Steel Corporation”
Funding Universe
http://www.fundinguniverse.com/company-histories/United-States-Steel-Corporation-Company-History.html

“John Pierpont Morgan”
Investing for Beginners
http://beginnersinvest.about.com/od/jpmorgan/John_Pierpont_Morgan.html

Chapter 22
Holt World History: The Human Journey
Full transcript