Today, 124 years ago, on February 5, 1901 (December 17, 1900), Morgan bought and acquired Steel Company to become a steel giant. The American steel giant Andrew Carnegie, like on February 5, 1901, Pilpot Morgan bought Rockefeller's several iron mines and Andrew Carnegie's entire steel business, becoming the largest steel company in the United States, with 65% of steel production being controlled by him. This business cost $1 billion. Morgan asked his American Steel Co., Ltd, to use the method he used when developing railways to eliminate competition. According to his "common interest" principle, the giants of the large consortium could cooperate privately in the competition between companies. The American steel giant, Morgan.