Rockefeller and Carnegie Philanthropy
Citations (1)
- Titan: The Life of John D. Rockefeller, Sr. whole source · open book
Morgan decided to create a steel trust in late 1900, he knew he would have to tangle with two men who were confirmed cynics about Wall Street: Carnegie, master of the steel mills, and Rockefeller, king of the iron ore. Morgan was worried that Carnegie would diversify into finished steel products and threaten his recently launched Federal Steel Company, while Carnegie feared a reverse maneuver by Morgan.
chapter: CHAPTER 20 - The Standard Oil Crowd