WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
SECOND INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Name the Business Tycoon:General Electric
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Cornelius Vanderbilt
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John D. Rockefeller
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Andrew Carnegie
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J.P. Morgan
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Explanation:
Detailed explanation-1: -One of the most powerful bankers of his era, J.P. (John Pierpont) Morgan (1837-1913) financed railroads and helped organize U.S. Steel, General Electric and other major corporations.
Detailed explanation-2: -In 1892, Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric, leading to the creation of General Electric. In 1901, he led the consolidation of Carnegie Steel Company with several other similar concerns, creating history’s first billion-dollar corporation in U.S. Steel.
Detailed explanation-3: -Pierpont Morgan partners with Drexel to open Drexel, Morgan & Co. in New York, later renamed J.P. Morgan & Co.
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