Panis+of+1893-John+D.+Rockafeller


 * Panic of 1893-** in many opinions the worst financial crisis that hit the Untied States. It occurred fter several events. First off, too many people were attempting to redeem notes for gold. Also, the Neation Cordage Company went from most actively traded stock, to receivership. There were a number of bank failures. 15,000 companies and 500 banks failed.


 * Andrew Carnegie-** one of the first industrial moguls to make his own furtune.


 * Vertical Integration-** a process in which he bought out his suppliers-coal fields and irons mines, ore fighters, and railroa lines- in order to control the raw materials and transportation system.


 * Horizontal Integration-** companies producing similar products merge.


 * John D. Rockafeller-** took a different approach to mergers: they joined with competing companies in trust agreements.