The inside history of the Carnegie Steel Company, a romance of millions . was the bookkeeper of the concern, andMatthews was manager. The Cyclops Iron Company was thename given to the new organization ; and the mill was designedto be the best in Pittsburg. None of the men, however, exceptMatthews, had had any practical experience; and Matthewswas handicapped by the ambitious plans of his associates, who,he used to complain, wanted him to build a $400,000 mill ona S 100,000 capital. The principal construction was 230 feetlong and 80 feet wide. The building and equipment of theworks occupied all
The inside history of the Carnegie Steel Company, a romance of millions . was the bookkeeper of the concern, andMatthews was manager. The Cyclops Iron Company was thename given to the new organization ; and the mill was designedto be the best in Pittsburg. None of the men, however, exceptMatthews, had had any practical experience; and Matthewswas handicapped by the ambitious plans of his associates, who,he used to complain, wanted him to build a $400,000 mill ona S 100,000 capital. The principal construction was 230 feetlong and 80 feet wide. The building and equipment of theworks occupied all winter; and when, in the spring, the ma-chinery was started, the structure was found too weak for itssafe operation. Tom Carnegie had watched with grave concern his brothersconnection with this enterprise; and when his forebodings ofdisaster seemed about to be realized he urged Andrew to seek aunion with the Kloman firm, so as to have the benefit of theGermans mechanical experience and skill in remodelling theCyclops Mill. Andrew, as was his wont when facing I CAR NEC IE REPROACHES HIS LUCK 23 laughed at his brothers anxiety, but decided to follow his ad-vice. Overcoming Millers objection to an alliance with hisrecent opponents, Carnegie authorized his brother to open nego-tiations with Kloman and Phipps for a consolidation of interests. In the meantime the Twenty-ninth Street mill had beensuccessful beyond all expectation ; and at the beginning of 1865its capital was raised, to keep pace with its earning power,from $60,000 to $150,000. The proposal for union with thediscredited Cyclops concern was naturally received by Klomanand Phipps with coldness; but Tom Carnegie had a persuasivemanner, and he made liberal offers. Finally it was agreed thatAndrew Carnegie and his group should turn over the CyclopsMill and a lump sum of $50,000, to be divided among theKloman partners, in return for a little less than half of theshares of a new company, of ^yhich Andrew Kloman was
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