USA HISTORY

Detailed explanation-1: -By age 30, Carnegie had amassed business interests in iron works, steamers on the Great Lakes, railroads, and oil wells. He was subsequently involved in steel production, and built the Carnegie Steel Corporation into the largest steel manufacturing company in the world.

Detailed explanation-2: -Carnegie adopted a new process invented by Sir Henry Bessemer that allowed steel to be made from iron more efficiently and quickly. This lowered the cost for steel, expanding the market. While this Bessemer steel didn’t work for bridges or buildings, it worked well for railways.

Detailed explanation-3: -Frick later was named chairman of the Carnegie Steel Company Limited, in 1892. This manifestation of the company combined the Upper and Lower Union Mills, the Lucy Furnaces, the Edgar Thomson Steel Works, the Homestead Works, Duquesne Works, and Keystone Bridge Works.

Detailed explanation-4: -Carnegie Steel Company was a steel-producing company primarily created by Andrew Carnegie and several close associates to manage businesses at steel mills in the Pittsburgh, Pennsylvania area in the late 19th century.

Detailed explanation-5: -Answer and Explanation: Andrew Carnegie (b. 1835-1919) gained control of the U.S. steel industry by producing quality steel at low prices and by taking over every stage of production, eventually gaining a monopoly.