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==Investments in 1860s==

==Investments in 1860s==

Carnegie remained with the Pennsylvania Railroad for twelve years (1853-1865), but long before this, his interests had expanded far beyond the railway office from which he drew his modest salary. In 1864, Carnegie invested $40,000 in Storey Farm on Oil Creek in Venango County, Pennsylvania. In one year, the farm yielded over $1,000,000 in cash dividends, and petroleum from oil wells on the property sold profitably. Carnegie was subsequently associated with others in establishing a steel rolling mill. Carnegie had some investments in the iron industry before the war and, after the war, he left the railroads to devote all his energies to the ironworks trade. He formed the Keystone Bridge Works and the Union Ironworks, in Pittsburgh.  The Keystone Bridge Company made iron train bridges; as company superintendent, Carnegie had noticed the weakness of the traditional wooden structures. These were replaced in large numbers with iron bridges made in his works.  Carnegie bought into the Woodruff Sleeping Car Co. and introduced the first successful sleeping car on American railroads. In 1865 he became a partner in a small iron forging company in Pittsburgh, the Kloman Co., and gave up his job with the Pennsylvania Railroad.   

Carnegie remained with the Pennsylvania Railroad for twelve years (1853-1865), but long before this, his interests had expanded far beyond the railway office from which he drew his modest salary. In 1864, Carnegie invested $40,000 in Storey Farm on Oil Creek in Venango County, Pennsylvania. In one year, the farm yielded over $1,000,000 in cash dividends, and petroleum from oil wells on the property sold profitably. Carnegie was subsequently associated with others in establishing an iron rolling mill. Carnegie had some investments in the iron industry before the war and, after the war, he left the railroads to devote all his energies to the ironworks trade. He formed the Keystone Bridge Works and the Union Ironworks, in Pittsburgh.  The Keystone Bridge Company made iron train bridges; as company superintendent, Carnegie had noticed the weakness of the traditional wooden structures. These were replaced in large numbers with iron bridges made in his works.  Carnegie bought into the Woodruff Sleeping Car Co. and introduced the first successful sleeping car on American railroads. In 1865 he became a partner in a small iron forging company in Pittsburgh, the Kloman Co., and gave up his job with the Pennsylvania Railroad.   

As well as having good business sense, Carnegie possessed charm and literary knowledge. However, because of his humble and foreign birth he was never fully accepted by Pittsburgh society.<ref> John N. Ingham, "Robber Barons and the Old Elites: a Case Study in Social Stratification." ''Mid-America'' 1970 52(3): 190-204. Issn: 0026-2927 </ref>  By 1868 when he moved permanently to New York City, his multiple investments were all nearly all profitable; he owned assets of $400,000 and an annual income of over $56,000, at a time when a factory foreman earned $1000. He seriously considered retiring at the age of thirty-five.

As well as having good business sense, Carnegie possessed charm and literary knowledge. However, because of his humble and foreign birth he was never fully accepted by Pittsburgh society.<ref> John N. Ingham, "Robber Barons and the Old Elites: a Case Study in Social Stratification." ''Mid-America'' 1970 52(3): 190-204. Issn: 0026-2927 </ref>  By 1868 when he moved permanently to New York City, his multiple investments were all nearly all profitable; he owned assets of $400,000 and an annual income of over $56,000, at a time when a factory foreman earned $1000. He seriously considered retiring at the age of thirty-five.