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Carnegie began to see that steel was eventually going to replace iron for the manufacture of rails, structural shapes, pipe, and wire. In 1873 he organized a steel rail company. The first steel furnace at Braddock, Pennsylvania, began to roll rails in 1874.
Carnegie Corporation of New York was established by Andrew Carnegie in 1911 to promote the advancement and diffusion of knowledge and understanding.evertheless, ten years after the sale of the Carnegie Steel Company, he still had more than $150 million and, at the age of 76, was tiring of the burden of philanthropic decision making.