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.

Carnegie establishes the Keystone Telegraph Company with several associates from the railroad. The company receives permission from the Pennsylvania Railroad to string telegraph wire across the railroad's poles, which stretch across the entire state. This is such a valuable asset that Keystone is able to merge almost immediately with the Pacific and Atlantic Telegraph Company, allowing Keystone's investors to triple their return.

1868

Carnegie pledges to resign from business.

Carnegie writes himself a letter which outlines his plans for the future. He determines to resign from business at age 35 and live on an income of $50,000 per year, devoting the remainder of his money to philanthropic causes, and most of his time to his education.

1870

Carnegie meets Louise Whitfield.

A mutual friend introduces Carnegie to 21-year old Louise Whitfield, the daughter of a wealthy merchant. Carnegie continues to call on her family from time to time.

1872

Carnegie sees Bessemer's steel plants.

On a visit to England, Carnegie visits Henry Bessemer's steel plants. The Freedom Iron Company, which Carnegie formed in 1861, had been using Bessemer's process of making steel for several years. While in England, Carnegie realizes the commercial potential of steel and returns to America with plans to expand his steel business.

1873

Carnegie donates a pool to Dunfermline.

Henry Clay Frick invests in coke.

In 1871, Frick organizes the Frick Coke Company with money borrowed from family and neighbors. By 1873, a financial panic hits the US and Frick borrows more money to buy out his partners and most of his competition. Four years later the price of coke had quadrupled and Frick had earned his first million.

1875

Edgar Thomson Works opens.

Carnegie opens his first steel plant, the Edgar Thomson Works, in Braddock, Pennsylvania. The plant is named for the president of the Pennsylvania Railroad. Not surprisingly, Carnegie's first order is for 2000 steel rails for the Pennsylvania Railroad.

1880

Carnegie begins his courtship of Louise Whitfield.

Although Carnegie is seeing several young women, he is most fond of Louise, and calls her his favorite riding partner. They become increasingly closer.

1881

Carnegie acquires interest in Frick's company.

Carnegie, who has been one of Frick's largest coke customers, proposes a merger with Frick. At first Carnegie's interest totaled only about 11% of the stock, but he soon increases his share to over 50% of the company.

Carnegie returns to Dunfermline with his mother.BR> Carnegie invites Louise Whitfield to accompany him on his trip to Scotland, but his jealous mother intercedes, and Louise remains at home. Alone with her Andrew, Margaret travels to Dunfermline and parades in a coach in front of the townspeople. Andrew donates a library to the town, his first outside of the United States.

1883

Carnegie buys the Homestead Works, a rival mill.

1886

Carnegie defends unions.

In Forum Magazine, Carnegie publishes an essay defending workers' right to organize into a union. He also publishes Triumphant Democracy, which sells over 70,000 copies and celebrates the American belief in democracy and capitalism.

Carnegie's mother and brother die.

At his home in Cresson, Pennsylvania, Andrew catches typhoid. He suffers a relapse when he learns of his brother's death. A month later, while Carnegie is still ill, his mother dies of pneumonia. In order to keep Margaret Carnegie's death a secret from her son, her coffin is lowered out of her bedroom window.

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.

Carnegie publishes "The Gospel of Wealth," arguing that the wealthy have a moral obligation to serve as stewards for society. By the next year, Carnegie's annual take-home pay is $25 million.

1892

The Homestead Strike occurs.

A union contract at Homestead expires; on vacation in Europe, Carnegie directs Frick to handle the situation. The workers have been organizing a strike, and when they are locked out, the strike proceeds. Frick has prepared for a stand-off by hiring Pinkerton agents. The New York Times writes, "It is evident there is no `bluffing' at Homestead. The fight there is to be to the death." The Pinkertons arrive and shoot it out with workers for about twelve hours. Although the Pinkertons surrender, they are forced to pass through a crowd of hundreds of workers, who beat them mercilessly, severely injuring twenty of them. The state militia is sent in to reclaim the mill and strikebreakers are hired to re-open it. This incident marks the end of Carnegie's image as a friend of the worker.

Back Next