154 CHARLES M. SCHWAB 



bourg 23.20 per cent, Great Britain 18.44 per cent, and the 

 Carnegie works 10 per cent of the steel output of the whole 

 world, the Carnegie production being equal to more than one 

 half of the aggregate output of all the works of Great Britain. 



For many years the traveller on the Pennsylvania railroad 

 passing Braddock may have observed a broom of immense 

 size towering far above one of the Edgar Thomson furnaces. 

 This broom, as new methods of furnace working were intro- 

 duced from time to time, was shifted from one stack to another, 

 but it remained always with the Edgar Thomson group, 

 signifying that the furnace over which it was raised had made 

 a clean sweep of the furnace record of the world. The broom 

 finally came down for good, but it was another, or rather 

 several other Carnegie stacks which brought it down when 

 the Duquesne furnaces were put in operation. The breaking 

 of records since has been of such common occurrence that 

 the broom was dispensed with, as the necessity for shifting 

 became too frequent and troublesome. 



The capacity of the blast furnace since the first Lucy stack 

 was built in 1872 has been increased from less than 100 to 

 more than 600 tons per day. The development of the blast 

 furnace is fairly indicative of the progressive march in every 

 branch of iron and steel making as carried on by the Carnegie 

 company, from the mining of the ore and coal through the 

 entire scale of operations to the final handling of the finished 

 steel. During the 36 years Mr. Carnegie was identified with 

 the industry, the works under his control fabricated over 

 50,000,000 tons of iron and steel for the multifarious uses 

 of civilization, making possible the construction of many 

 miles of railroad that could not have been built had he not 

 been the actuating force in revolutionizing manufacturing 

 and competitive conditions. 



Mr. Carnegie has been not only the architect of his own 

 fortune, but has opened the door to opportunity and wealth 

 for many men, sharing his success at all times with his, em- 

 ployees and business associates with unexampled liberality. 

 He has made many young employees partners in the business 

 for meritorious service, assigning to them, virtually without 

 the payment of a penny, valuable stock interests, requiring 



