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Schwab, the brokerage house founder), was the largest such industrial takeover in the United States at the time. The holdings were incorporated in the United States Steel Corporation, a trust organized by J.P. Morgan, and Carnegie himself retired from business. He was bought out at a figure equivalent to a capital of approximately $480 billion, which is the largest personal commercial transaction to date. Besides steel, Carnegie's companies were involved in other areas of the railroad industry. His company Pittsburgh Locomotive and Car Works was noted for its building of large steam locomotives at the turn of the 20th century...
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