Month sixth days (Boxer), February 5, 1900, Morgan set up steel company assets of $ 1,000,000,000.

1900, Pierpont - Morgan bought the John-D-Rockefeller several iron ore and Andrew - Andrew Carnegie's steel business, to become only the steel giant. The deal was the most expensive business combination in the United States, Morgan spent $ 1 billion to buy the the in Ming Kunsu Florida Mesabi iron ore and the steel mills of Pittsburgh. The (history today www.lssdjt.com)
Morgan asked his American Iron and Steel Co., Ltd., to adopt the approach he used in the development of the railway as a basis to eliminate the competition. According to the principle of his interest interlinked ", the large consortia giants privately cooperation in inter-company competition. Morgan had said: "The United States is no better place for me. "The William - Jennings - Brian replied:" When he does not like the United States, he can put it drained away. "(This is a humorous, meaning Morgan so money almost occupies the entire United States, so if he does not like it, he can put it drained away).