Carnegie Steel Essay

Submitted By hinklesn
Words: 436
Pages: 2

Two titans of the steel industry, and one journey that went became sour all revolving around one large steel company and the battles it took to reach millions. That is what I say when I think of Andre Carnegie and Henry Clay Frick. In the 1870’s a strong and extraordinary team was in the making between these two men that was unknown at this time. Carnegie set out to be extremely successful in the steel industry. Carnegie began building despite the depression that was in the future. Over time there were positive happenings. What comes along with positive aspects also comes the negative aspects as well. Frick became partner to Carnegie in 1889, and the positive adventures began. Frick worked hard to work on the mass production programs to keep prices down. He was a true philanthropist. He had great managerial skills that were used in the industry. Carnegie was a very generous person, which helped complete the industrial revolution. He gave to schools, and libraries which was a blessing for the economy. Steel open hearth furnaces were put out and increasing efficiency through vertical integration. The depression came in 1893-1896 which caused unemployment, shutdowns, and failing markets. The Carnegie Company would then push prices down and retain workers. The Homestead plant was acquired in 1883 which $4 million was put forth to equipment. This increased production 60 percent however, cut down the amount of skilled workers needed. This is what set forth a Union which caused the Carnegie Company and workers to go back and forth on wage agreements. There was a sliding scale contract for wages put in place until July 1, 1892. The Union wanted to renegotiate however, Frick had a stipulation. That was lowering minimum…