Andrew Carnegie: The Richest Man in the World | Timeline
1835: Carnegie born 1847: Steam-powered looms used in Scotland 1848: Carnegies emigrate to US 1849: Andrew works as messenger 1853: Andrew takes job at Pennsylvania Railroad 1855: Will Carnegie dies at age 51 1856: Carnegie puts down a strike Carnegie invests in sleeping cars 1859: Carnegie promoted to superintendent 1861: Carnegie works for Union Army After Confederate mobs in Maryland destroy railroad lines, Carnegie assists Thomas Scott in supervising repairs. While working on the railroad, Carnegie notices that telegraph lines have also been cut and stops to repair them. When Carnegie arrives in Washington, he joins Scott in organizing the railroad and telegraph lines to Virginia. Carnegie invests in oil Using money from his investment in the Woodruff Sleeping Car Company, Carnegie invests $11,000 in an oil company in Titusville, Pennsylvania. He receives a return of $17,868 after only one year. 1862: Carnegie travels to Dunfermline 1863: Carnegie's income is $42,000 1864: Carnegie is drafted 1865: Carnegie retires from the railroad Carnegie founds the Keystone Bridge Company Carnegie and several associates reorganize the Piper and Schiffler Company into the Keystone Bridge Company. They envision building bridges with iron, rather than wood, to make the bridges more durable. Tom Scott loans Carnegie half of the $80,000 he needs for his investment. 1867: Carnegie founds Keystone Telegraph Company 1868: Carnegie pledges to resign from business 1870: Carnegie meets Louise Whitfield 1872: Carnegie sees Bessemer's steel plants 1873: Carnegie donates a pool to Dunfermline Henry Clay Frick invests in coke 1875: Edgar Thomson Works opens 1880: Carnegie begins his courtship of Louise Whitfield 1881: Carnegie acquires interest in Frick's company Carnegie returns to Dunfermline with his mother 1883: Carnegie buys the Homestead Works, a rival mill 1886: Carnegie defends unions Carnegie's mother and brother die 1887: Carnegie marries Louise Whitfield Carnegie and Frick disagree over a striking union Henry Clay Frick organizes a coalition of coke companies to resist striking labor, but Carnegie has a large enough share in Frick's company to force him to settle with the workers. The tension between the two men is resolved for the time being, but Carnegie and Frick will disagree on labor issues in the future. 1889: "Gospel of Wealth" published 1892: The Homestead Strike occurs 1897: Margaret Carnegie is born. 1898: Carnegie tries to gain independence for the Philippines Carnegie decides to produce finished products 1899: Carnegie organizes several of his steel companies into Carnegie Steel Tensions rise between Carnegie and Frick. Carnegie asks Frick to resign as chairman of the board. Questions remain about how much the Frick Company will charge Carnegie for coke. 1900: Frick and Carnegie disagree over the price of coke Carnegie Steel's annual profit is $40 million Carnegie Institute of Technology established 1901: Carnegie sells out to Morgan 1902: Carnegie Institution established 1905: Carnegie Teachers' Pension Fund is established 1901: Carnegie donates money to advance the cause of peace 1911: Carnegie Corporation is founded 1913: The Palace of Peace is dedicated 1914: World War I begins 1916: Carnegie buys Shadowbrook, an estate in Massachusetts 1919: Carnegie dies at Shadowbrook Andrew Carnegie Born in Dunfermline, Scotland, 25 November 1835. Died in Lenox, Massachusetts, 11 August 1919. |