The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
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The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
A true corner is the slaughter of the bears. A bear who shorts by borrowing and selling a security needs to buy it, or borrow it again, when the borrowing term is up.
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
Like people in any age, as their money incomes went down, they forgot about their new curtains, and tools, and kerosene lamps; as far as they knew, they were getting poorer, and they were mad as hell about it.
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
The creation of the Dow Jones Industrial Index in 1895 and John Moody’s Industrial Manual in 1900 were signposts of their growing importance.
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
The 1862 Pacific Railway Act made yet another lavish grant of public lands to finance a railway line from the Missouri River to the Pacific Ocean, a dream of the prodevelopment party for more than twenty years. The undertaking was still at the very limits of current technology; the act needed several revisions to get the financing right; and the wh
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
1880, when sales soared past the 500,000 mark and Singer suddenly found himself in replacement-parts hell. At his company’s rate of growth, the world couldn’t supply the craftsmen to keep up with his service and repair requirements. Other companies, like McCormick and the Ball Glass Co., faced up to their problems at about the same time as Singer,
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
[T]here is not a working boy of average ability in the New England states, at least, who has not an idea of some mechanical invention or improvement in manufactures, by which, in good time, he hopes to better his position, or rise to fortune and social distinction.
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
As early as 1883, Captain Jones reported that he had reduced the labor cost of rails by a quarter, from 20 percent to 15 percent. New machinery in 1885 eliminated fifty-seven of sixty-nine men on the heating furnaces and fifty-one of sixty-three hands in the rail mill. In the 1892 Homestead negotiation, the company hoped to eliminate 325 of about 8
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
The muckraker Ida Tarbell once dismissed Rockefeller as a man with the “soul of a bookkeeper,” an image that has stuck to him ever since. It was true that he loved the completeness and concreteness of good ledgers, and insisted that every entry, every tally, every invoice had to be right; but the “bookkeeper” label does not begin to capture the rea
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
Middleclass parents kept their kids in school instead of sending them off to the factory, and were discovering that the demographic between child and adult was a previously undreamed-of species.