Modern Americans: A Biographical School Reader for the Upper GradesSanford, Chester Milton
General
Modern Americans: A Biographical School Reader for the Upper Grades
Sanford, Chester Milton
Biography -- Juvenile literature; United States -- Biography
Fortunately, the man in charge of the office, a Scotchman by the name
of James Reid, took a liking to the Scotch lad and began to help him
by teaching him telegraphy. Accordingly, during the leisure moments
when Andie had no messages to deliver he studied so diligently that in
a remarkably short time he became a skillful telegraph operator.
At this time his father died, leaving the support of the family to
Andie. To support them he must earn more money, and so he left his job
as messenger boy to become a telegraph operator on the Pennsylvania
railroad. While thus engaged as an operator he invented a system of
train dispatching that, each year, saved the company thousands of
dollars. This invention attracted the attention of the railroad
officials to young Carnegie, and he was made private secretary to
Colonel Scott, vice-president of the road, and a little later was made
superintendent of the Western division of the Pennsylvania railroad,
all before he was thirty years of age.
It was while he was superintendent of the railroad that Mr. Woodruff,
the inventor of the sleeping car, came to him with the invention. Mr.
Carnegie listened to a description of the proposed cars. He saw that
the idea was good and adopted it at once. Thus it was that on Mr.
Carnegie's division of the Pennsylvania railroad the first sleeping
cars in the United States were run.
Prior to this time all the railroad bridges had been made of wood; but
it occurred to Carnegie that bridges should be made of steel, rather
than wood. Accordingly, he organized the Keystone Bridge Company that
built the first steel bridge across the Ohio River. As the bridge
business grew, Mr. Carnegie decided that he could make more money by
making his own steel for the bridges. To do this he organized a
company and built the Union Iron Mills. So profitable were these mills
that in a short time he purchased the Edgar Thompson Steel Rail Mill
and the Homestead Steel Works. Gradually his business grew until in
1901, when he retired, his payroll exceeded eighteen million dollars a
year, and he received two hundred and fifty millions for his share of
the business.
But, I hear you ask, "How could he earn so much money? How did he get
the money to start these great enterprises?" From the first he was
economical and saved every penny possible; and fortunately for him his
investments were always profitable, as the following examples will
show.
When he was a telegraph operator, his friend, Mr. Scott, urged him to
buy ten shares in the Adams Express Company for six hundred dollars.
As Mr. Carnegie was able to get together but five hundred dollars, Mr.
Scott lent him the extra hundred, and the investment was made. Soon
these shares were yielding large dividends, which Mr. Carnegie
carefully saved.
Public-domain text, read in full here on John Shaqi.
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