Do Now1. businesses that sell portions of ownership called stock shares

2. profits

3. total ownership of a product or service

4. ownership of businesses involved in each step of a manufacturing process

5. owning all businesses in a certain field

6. a legal arrangement grouping together a number of companies under a single board of directors

Horizontal Integration Monopoly Trust Dividends Corporation Vertical Integration

Corporation – businesses that sell portions of ownership called stock shares

Dividends - profits

Monopoly – total ownership of a product or service

Vertical integration – ownership of businesses involved in each step of a manufacturing process

Horizontal integration - owning all businesses in a certain field

Trust – a legal arrangement grouping together a number of companies under a single board of directors

Andrew CarnegieWhen Andrew was 12, his family left scotland to immigrate to

the united states. He first worked in a cotton factory for $1.20.

While working for thomas scott, years later, he learned about industrial leaders and investing. By the 1890’s he was one of the world’s richest men. By the age of 64 his steel company

was worth $480 million.

Cornelius VanderbiltHe was an American shipping and railroad

tycoon that helped create an 1800’s global transport network. He was called “commodore” because he made his fortune in shipping.

In the late 1840’s, Vanderbilt established the Accessory Transit Co. to move passengers and freight from New York to the California gold fields by way of central America. In the 1860’s, Vanderbilt added railroads to his transportation network by buying the controlling stock in the New York and Harlem railroad.

Soon Vanderbilt had taken over and consolidated the Hudson River and New York Central railroads.

After he became very wealthy, Carnegie donated 2,509 libraries to towns and cities throughout the world at a cost of more than $56 million.

His intention was that his libraries be “free to the people forever,” words that are often inscribed on the buildings. Many of these libraries are still in use today.

J.P MorganHe provided loans to the US government to help save the gold standard. This fixes the unit of currency equal to a set amount of

gold. He was also a huge supporter of the arts. Morgan was one of the early supporters of

the metropolitan museum of art.

John D. rockefellerLike carnegie, he valued vertical integration. He bought

railroad tanker cars to carry his oil and forced a 10 percent rebate from the railroads. He also got kickbacks on his

competitor’s oil shipments. When pipelines began to carry oil, rockefeller set up a pipeline network. By 1890, he was worth

$800 million.Standard oil companies still exist as independent companies

such as – exxonmobil, chevron and amoco

“Growth of business is merely a survival of the fittest.”

How might this cartoon relate to the tycoons?