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carnegie steel company wikipedia jump to content main menu main menu move to sidebar hide navigation main page contents current events random article about wikipedia contact us contribute help learn to edit community portal recent changes upload file special pages search search appearance donate create account log in personal tools donate create account log in contents move to sidebar hide top 1 creation 2 operations 3 sale 4 see also 5 references 6 further reading 7 external links toggle the table of contents carnegie steel company 8 languages deutsch español bahasa indonesia italiano bahasa melayu português svenska اردو edit links article talk english read edit view history tools tools move to sidebar hide actions read edit view history general what links here related changes upload file permanent link page information cite this page get shortened url switch to legacy parser print export download as pdf printable version in other projects wikimedia commons wikidata item appearance move to sidebar hide from wikipedia the free encyclopedia 19th century steel production company in pennsylvania us carnegie steel company type partnership industry steel coke railroad founded july 1 1892 134 years ago 1892 07 01 founders andrew carnegie henry clay frick george lauder henry phipps jr defunct march 2 1901 125 years ago 1901 03 02 successor u s steel headquarters pittsburgh pennsylvania products steel coal coke flat rolled and tubular steel products railroad rails services manufacturing blast furnaces and iron ore at the carnegie illinois steel corporation mills in 1941 the carnegie steel company was a steel producing company primarily created by andrew carnegie and several close associates to manage businesses at steel mills in the pittsburgh pennsylvania area in the late 19th century the company was formed in 1892 and was subsequently sold in 1901 in one of the largest business transactions of the early 20th century to become a major component of u s steel the sale made carnegie one of the richest americans in history creation edit carnegie began the construction of his first steel mill the edgar thomson steel works in 1872 at braddock pennsylvania 1 the thomson steel works began producing rails in 1874 2 by a combination of low wages efficient technology infrastructure investment and an efficient organization the mill produced cheap steel which sold for a large profit in the growing markets of industrial development carnegie alone estimated that 40 was returned on the investment i e a profit of 40 000 from a 100 000 investment in the mill 3 the profits made by the edgar thomson steel works were substantial enough to let carnegie and his partners including henry clay frick his cousin george lauder and henry phipps jr buy other nearby steel mills these included the homestead steel works which carnegie acquired in 1883 4 the presence of the allegheny monongahela and ohio rivers provided transport for the heavy materials used in steel production each plant was near to or alongside a river carnegie agreed to frick s subsequent proposal that the various plants and assets including h c frick company be consolidated into a single company this consolidation occurred on july 1 1892 with the formation of the carnegie steel company 5 operations edit the company headquarters were located in the carnegie building an early skyscraper in downtown pittsburgh 6 built to show its use of steel in its construction the building was fifteen stories high and was left uncovered for a full year the carnegie building was demolished in 1952 7 carnegie steel made major technological innovations in the 1880s especially the installation of the open hearth furnace system at homestead in 1886 it now became possible to make steel suitable for structural beams and with the advanced work of george lauder in arms and armament for armor plate for the us navy and the militaries of other governments which paid far higher prices for the premium product in addition the plant moved increasingly toward the continuous system of production carnegie installed vastly improved systems of material handling like overhead cranes hoists charging machines and buggies all of this greatly sped the process of steelmaking and allowed the production of far vaster quantities of steel as the mills expanded the labor force grew rapidly especially less skilled workers the more skilled union members reacted with the unsuccessful 1892 homestead strike along with demands for reduced working hours and against pay cuts after the unsuccessful strike the company continued to expand and profits grew year on year with the company having earned net profits of 21 million in 1899 8 j l steel was the most important competitor to the carnegie steel company and later to u s steel in the vicinity of pittsburgh carnegie operations 9 name location rail service type of facility carnegie carrie furnaces rankin union rr steel mill 5 blast furnace stacks clark works pittsburgh allegheny valley hoops bands light rails donora works donora pgh virginia charleston steel mill 2 blast furnace stacks duquesne works cochran union rr steel mill 4 blast furnace stacks edgar thomson works braddock union rr steel mill 11 blast furnace stacks homestead works munhall union rr steel mill howard axle works howard union rr forge isabella furnaces etna west penn steel mill 3 blast furnace stacks lower union mills pittsburgh allegheny valley iron mill lucy furnaces pittsburgh allegheny valley steel mill 2 blast furnace stacks monessen works monessen pittsburgh and lake erie rolling mill and steel works mccutcheon works allegheny pittsburgh and western hoops bands light rails painter works south side pittsburgh and lake erie processing upper union mills pittsburgh allegheny valley iron mill galvanizing plant south side pittsburgh and lake erie processing sale edit the carnegie steel company was sold in 1901 to u s steel a newly formed organization set up by j p morgan 10 it sold at roughly 492 million 11 19 billion today of which 226 million 8 7 billion today went to carnegie himself 12 u s steel was a conglomerate with subsidiary companies this subsidiary company continued to use the same name the carnegie steel company for the next 35 years after the 1901 amalgamation in 1936 it was changed to the carnegie illinois steel company incorporating the name of the former illinois steel company see also edit history of the steel industry 1850 1970 illinois steel company references edit nasaw d 2006 p 144 nasaw d 2006 p 161 nasaw d 2006 p 170 rivers of steel homestead works archived from the original on march 9 2016 retrieved july 25 2016 nasaw d 2006 p 396 mellon square archived from the original on march 6 2008 retrieved january 22 2008 pittsburgh s feuding architectural landscape and a bell tower doors open pittsburgh archived from the original on january 13 2023 retrieved april 24 2023 nasaw d 2006 p 578 map of the pittsburgh district showing railroad terminals and location of iron and steel works having track connections circa 1906 library of congress nasaw d 2006 pp 580 588 history of united states steel corporation fundinguniverse www fundinguniverse com retrieved may 14 2019 nasaw d 2006 p 687 further reading edit krass peter 2002 carnegie p 612 archived from the original on june 4 2011 retrieved august 25 2017 a standard scholarly biography along with nasaw and wall krause paul 1992 the battle for homestead 1880 1892 politics culture and steel university of pittsburgh press pp 548 nasaw david 2006 andrew carnegie penguin press isbn 978 1 59420 104 2 major biography along with krass and wall misa thomas j 1995 a nation of steel the making of modern america 1865 1925 retrieved january 8 2020 cite book cs1 maint deprecated archival service link sabadasz joel 1992 the development of modern blast furnace practice the monongahela valley furnaces of the carnegie steel company 1872 1913 ia the journal of the society for industrial archeology 18 1 2 94 105 jstor 40968252 wall joseph 1970 andrew carnegie oxford university press p 1137 a standard biography along with nasaw and krass external links edit historic american engineering record haer no oh 33 carnegie steel ohio works steam engines 912 salt springs road youngstown mahoning county oh 22 photos 2 photo caption pages carnegie steel company records detre library archives heinz history center v t e city of pittsburgh government airport convention center city council city hall courthouse district attorney education events fire intergov libraries mayor parks police port regional sheriff transit water economy allegheny conference duquesne club chamber of commerce corporations economic club hyp club stock exchange other topics colleges and universities culture cookie table theatre green man pittsburgh parking chair picklesburgh pittsburgh steak dialect jagoff yinzer flag fictional settings filming films television history name timeline jewish history 2018 synagogue shooting pittsburgh toilet hospitals media museums neighborhoods nicknames notable pittsburghers region combined statistical area skyscrapers sports transportation category authority control databases international isni viaf gnd national united states israel other yale lux retrieved from https en wikipedia org w index php title carnegie_steel_company oldid 1372518275 categories andrew carnegie steel companies of the united states metals monopolies lauder greenway family defunct manufacturing companies based in pittsburgh manufacturing companies established in 1892 manufacturing companies disestablished in 1901 1892 establishments in pennsylvania 1901 disestablishments in pennsylvania u s steel 1901 mergers and acquisitions hidden categories articles with short description short description is different from wikidata use american english from august 2026 all wikipedia articles written in american english use mdy dates from august 2016 pages using infobox company with a logo from wikidata cs1 unfit url cs1 maint deprecated archival service this page was last edited on 1 september 2026 at 02 22 utc page was rendered with parsoid text is available under the creative commons attribution sharealike 4 0 license additional terms may apply by using this site you agree to the terms of use and privacy policy wikipedia is a registered trademark of the wikimedia foundation inc a non profit organization privacy policy about wikipedia disclaimers contact wikipedia legal safety contacts code of conduct developers statistics cookie statement mobile view search search toggle the table of contents carnegie steel company 8 languages add topic