152 CHARLES M. SCHWAB 



The iron and steel manufacturing plants of the company 

 include 19 blast furnaces, 3 steel works with 8 Bessemer con- 

 verters and 56 open hearth furnaces, 5 rolling plants with 

 34 mills, an armor plate works, and a forge for the manufac- 

 ture of locomotive and car axles. These are all Cyclops 

 worthy of the Homeric archetype. The works enumerated, 

 with the improvements under way and completed, will have 

 an aggregate capacity of 3,430,000 tons of steel per annum, 

 equal to 32.56 per cent of the production of the United States, 

 12.65 per cent of the output of the world, and nearly 71 per 

 cent of the production of Great Britain. 



In recent years extensive mines of rich iron ore were 

 added to the company's possessions in the Lake Superior 

 region, and it now mines about 25 per cent of the output 

 of the district. From the docks at the lake shipping ports 

 the ore is carried in vessels owned or chartered by the com- 

 pany to Conneaut harbor. Lake Erie, where it is transshipped 

 by rail 153 miles to the furnaces via the Pittsburg, Bessemer 

 & Lake Erie railroad. 



The magnitude of the steel manufacturing operations of 

 the present day maybe appreciated from the fact that in a year 

 the receipts of raw material and shipments of finished product 

 of the three largest Carnegie works aggregate 16,000,000 

 tons, which, according to Mr. J. T. Odell, equalled the com- 

 bined tonnage handled in one year by the Missouri Pacific, 

 Southern Pacific, and Northern Pacific railways, operating 

 13,000 miles of track, 1,500 locomotives, and 50,000 cars. In 

 the mining, transportation, and manufacturing operations 

 the company provides employment for about 50,000 persons, 

 and disburses yearly about $50,000,000 to its operative and 

 administrative forces. The business transacted is exceeded by 

 few, if any, commercial organizations in America or Europe. 



When the reason for the remarkable success of Mr. Car- 

 negie and the business bearing his name is sought, it is easily 

 perceived. Americans, and particularly those within the 

 Pennsylvania coking coal area and the iron ore fields of Minne- 

 sota and Michigan, need only look around them for the prin- 

 cipal cause. Mr. Carnegie simply availed himself of the nat- 

 i-ral riches indigenous to those favored regions, without 



