The US Steel Industry in 2004: Still in Need of Protection? |
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Early History
Andrew Carnegie,2 and John Pierpont (J.P.) Morgan3 played a dominant role in the formation of these companies. However, the consolidation failed to provide stability to the industry.
In fact, soon after its formation, US Steel acquired properties like coking coal and iron ore mines (essential raw materials for steel) that would give it a dominant position in the industry... The US Steel Industry in 2004: Still in Need of Protection? - Next Page>> 2] In 1899, Andrew Carnegie founded
the Carnegie Steel Company. In 1901, it was sold to J.P.Morgan. |
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