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Andrew Carnegie and the Rise of Big Business - The Apprentice Financier Summary & Analysis

Harold C. Livesay
This Study Guide consists of approximately 52 pages of chapter summaries, quotes, character analysis, themes, and more - everything you need to sharpen your knowledge of Andrew Carnegie and the Rise of Big Business.
This section contains 587 words
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Purchase our Andrew Carnegie and the Rise of Big Business Study Guide

The Apprentice Financier Summary and Analysis

Carnegie rises from bobbin boy at $1.20 per week in 1850 to railroad superintendent at $2,400 per year in 1865. In 1856 Scott advises him to buy Adams Express Company as his first stock investment. Carnegie's first dividend check for $10 opens a whole new world of receiving cash from capital. In 1863, his investments pay $45,460 and by 1868, he receives $56,110 per year for an investment of $817 that he borrows to make. By the age of twenty-eight Carnegie manages a complex, multi-unit industrial enterprise and capitalizes on knowing the value of money based on what it can earn.

Carnegie is cautious in his investments by limiting them to firms he knows about that are related to the Pennsylvania Railroad. He forms an informal investing triumvirate with Thomson and Scott. For example, Scott and Thomson like the Woodruff Sleeping Car Company that owns patents in 1858 but lacks the courage and...

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This section contains 587 words
(approx. 2 pages at 300 words per page)
Purchase our Andrew Carnegie and the Rise of Big Business Study Guide
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Andrew Carnegie and the Rise of Big Business from BookRags and Gale's For Students Series. ©2005-2006 Thomson Gale, a part of the Thomson Corporation. All rights reserved.
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