Ace Steel Metal Supplier Andrew Carnegie - Steel Tycoon Part II

Andrew Carnegie – Steel Tycoon Part II

Andrew Carnegie was fortunate to have met and worked for Thomas Alexander Scott. Scott was a business magnate and railroad executive. He was president of the Pennsylvania Railroad from 1874 to 1880.

At the time,  the Pennsylvania Railroad was the largest publicly traded corporation in the world.

In 1861, Scott was appointed to U.S. Assistant Secretary of War by President Lincoln. Thomas leveraged his influence to use the railroads in the war effort.

Thomas Scott helped Carnegie with his first investments. One of those investments was $500 in the Adams Express, in 1855. A few years later, Carnegie received a couple shares in T.T. Woodruff & Company, a sleeping car company.

Andrew Carnegie wisely reinvested his returns into railroad related industries, such as bridges, iron and rails. Over time, he accumulated the capital used for his later success.

One particular investment became a great success for Carnegie. Before the Civil War, he arranged a merger between Central Transportation Company and Pullmans Palace Car Company.

Carnegie continued to work for the Pennsylvania Railroad and Thomas Scott. In 1861, Scott appointed Carnegie to Superintendent of the Military Railways. Where he re-connected rail lines into Washington D.C. cut by rebels.

He personally supervised transportation of Union soldiers after their loss at Bull Run. In addition, he managed the telegraph system for the Union cause.

Carnegie was on the front lines of the American railroad and telegraph system, which supplied the Union and eventually contributed to winning the Civil War.

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