His next enterprise was the purchase of the Homestead Steel Works,—his
great rival of Pittsburg. By 1888, he had built or acquired seven
distinct iron and steel works. All the plants of this great firm are
within a radius of five miles of Pittsburg. In no other part of the
world can be found such an aggregation of splendidly equipped steel
works as those controlled by Carnegie and his associates. It now
comprises the Homestead Steel Works, the Edgar Thompson Steel Works and
Furnaces, the Duquesne Steel Works and Furnaces, all within two miles
of one another; the Lucy Furnaces, the Keystone Bridge Works, the Upper
Union Rolling Mills, and the Lower Union Rolling Mills.
[Illustration: INFANCY]
In all branches, including the great coke works, mines, etc., there are
employed twenty-five thousand men. The monthly pay roll exceeds one
million, one hundred and twenty-five thousand dollars, or nearly
fifty thousand dollars for each working day.
“You believe in taking active measures,” I said, “to make men
successful.”
“Yes, I believe in anything which will help men to help themselves.
To induce them to save, every workman, in our company, is allowed to
deposit part of his earnings, not exceeding two thousand dollars, with
the firm, on which the high interest rate of six per cent. is allowed.
The firm also lends to any of its workmen to buy a lot, or to build a
house, taking its pay by installments.”
“Has this contributed any to the success of your company?”