Charles M Schwab

Steel magnate Charles M Schwab began his career as an engineer in Andrew Carnegie's Steelworks.  He was promoted often, including to the positions of General Superintendent of The Homestead Works in 1887 and General Superintendent of The Edgar Thomson Steel Works in 1890.

Born February 18, 1862 in Williamsburg, Schwab, at the age of 35, became president of The Carnegie Steel Company.  In 1901, he helped negotiate the secret sale of Carnegie Steel to a group of New York based financiers led by JP Morgan.  After the buyout, he became the first presdient of The US Steel Corporation.

Schwab left US Steel in 1903 to run The Bethlehem Shipbuilding and Steel Company in Bethlehem, PA .  Under his leadershiop ( and that of Eugene Grace), it became the largest indeopendent steel producer in the world.

 

A major part of Bethlehem Steel's success was the development of the H beam, a precursor of today's I beam.  In 1908, the company began making the beam, which revolutionized building construction and contributed to the age of the skyscraper.

 

In 1910, Schwab broke The Bethlehem Steel strike by calling out the newly formed Pennsylvania State Police.  He successsfully kept labor unions out of Bethlehem Steel throughout his tenure.

 

In 1911, Bethlehem Steel formed a company soccer team known as Behtlehem Steel FC.  In 1914, he took the team professional.  Schwab raided all of the great soccer teams in the country and signed many of the stars to play for his team.  One year, the team bested 88 teams for The National Challenge Cup and 36 teams for The American Challenge Cup.  Until it's 1930 demise, the team won eight league championships, six American Cups and five National Chellenge Cups.  It was considered among the greatest soccer teams in US history.

For the complete article, please check out the upcoming book release They Came From PA due out by the end of the year.

 

**Information for this article was obtained through reaarch gathered from the following sources**

1.  Wikipedia article for Charles M Schwab

2. Collier's New Encyclopdia (1921) entry for Schwab, Charles M

3. SCHWAB PLACED IN FULL CONTROL OF SHIPBUILDING- The New York Times April 17, 1918 p1

4. Fab 40: Noteworthy Connections-  Johnstown Tribune Democrat p. 38

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