The Birth of American Steel
The first big need for steel was within the railroad system. Steel was extremely important and influential during the U. S. industrialization period based in the second part of the 19th century. The Bessemer process was instrumental in the development of the steel industry. Andrew Carnegie and his hand picked team were the driving force behind Bessemer steel.
Early steel tycoons
John Warne Gates built up the American Steel and Wire Company, effectively grouping the largest portion of the country?¢‚Ç¨‚Ñ¢s wire mills underneath one corporate umbrella. This is where the Rockefellers became very prominent, as J. D. Rockefeller and the Moores made multiple attempts to take over Carnegie Steel. This was during the 1890s. Charles Schwab became a household name during this time and continues to this day, though for different reasons. Charles Schwab was made president of U. S. Steel but resigned within three years in order to take over Bethlehem Steel, which he built into a major contender.
The steel industry expands
The growth of American cities put a huge demand on the steel industries. Public utilities began to come into being, which demanded even more steel for such things as more railways. This period of time was cutthroat for the steel industry. This industry made many people extremely rich and made other individuals extremely dead. There were mergers and forced takeovers and high powered individuals vied for more power and control.
World War I and beyond
World War I had a strong impact on the steel industry as metal instruments of war, both large and small were manufactured at increasing numbers. The steel industry is still to this day, a lucrative field that possesses wealth and power far above many other industries.