WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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J.P. Morgan
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Cornelius Vanderbilt
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John D. Rockefeller
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Andrew Carnegie
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Detailed explanation-1: -He made a fortune in railroads. In 1898, Morgan formed the Federal Steel Company. Again he merged with other steel companies, forming the huge United States Steel Corporation. He made another fortune in steel.
Detailed explanation-2: -J.P. Morgan was known for reorganizing businesses to make them more profitable and stable and gaining control of them. He reorganized several major railroads and became a powerful railroad magnate. He also financed industrial consolidations that formed General Electric, U.S. Steel, and International Harvester.
Detailed explanation-3: -J. Pierpont Morgan partners with Philadelphia banker Anthony Drexel to form Drexel, Morgan & Co., a private merchant banking house in New York City. Pierpont builds his reputation as a leader in railroad investments, the largest and most dynamic American industry in the years after the Civil War.