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Share of the United States Steel Corporation, issued December 30, 1924. J. P. Morgan formed U.S. Steel on March 2, 1901 (incorporated on February 25, 1901), [14] [15] by financing the merger of Andrew Carnegie's Carnegie Steel Company with Elbert H. Gary's Federal Steel Company and William Henry "Judge" Moore's National Steel Company [16] [17] for $492 million ($18 billion today).
The Edgar Thomson Steel Works was designed and built because of the Bessemer process, the first inexpensive industrial process for the mass production of steel. In the process, air blowing through the molten iron removed impurities via oxidation. This took place in the Bessemer converter, a large ovoid steel container lined with clay or dolomite.
By 1939, Crucible was the largest producer of tool steel in the United States, making over 400 products (more than any other steel company). It had nine mills in four states, two coal mines, a water company and a half-interest in a Mesabi ore mine.
800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. ... Between her pension of $713 monthly and Social Security ...
In 1889, the facility merged with three other steel mills to form a new company called Illinois Steel, which later became part of Federal Steel. [1] By 1901, the company was under the control of US Steel. [1] By 1951, the South Works boasted 11 blast furnaces, 8 electric furnaces, and 12 rolling mills, and employed some 15,000 employees. [2]
Continental Group was dismantled in 1991. In early 1991, Continental Can Company was ordered to pay $415 million to some 3,700 former employees and members of the United Steel Workers of America, when the courts found that the company had attempted to defraud the employees of pensions during the late 1970s. [5]
1884: Baltimore and Ohio Railroad establishes the first pension plan by a major employer, allowing workers at age 65 who had worked for the railroad for at least 10 years to retire and receive benefits ranging from 20 to 35% of wages. [4] 1889: The American Express Company creates the first pension plan in the United States. [5]
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