essemer process were not yet fully understood in America.
The profits promised by both Harris and Ingram to capitalists were great,
and this possibly made capital suspicious. Finally enough ready money was
obtained to make a successful experiment, which so convinced a few rich
men that more money was immediately advanced, and the steel plant was
soon furnishing most satisfactory steel rails at greatly reduced cost for
both the manufacturer and consumer.
Harris's ability to manage kept pace with the rapid growth of the new
enterprise, while Ingram's knowledge and inventive talents proved that as
superintendent of the steel plant he was the right man in the right
place.
At first Harris found great difficulty in convincing railway managers
that the steel rail would render enough more service to compensate for
the additional cost. The most anybody could say in favor of the steel
rail was largely theoretical. The Bessemer steel rail had had only a few
months of actual service, long enough, however, to demonstrate that at
the joints it would not batter and splinter like the iron rail. This was,
indeed, a desideratum and many orders came in. Not only was the steel
mill kept running day and night, but orders accumulated so rapidly that
large additions were made to the mills.
Money for all these improvements and the capital necessary to carry on
the increasing business were matters of vital importance to the success
of the company. To manage a business with greatest advantage quite as
much ready cash is needed as is invested in the plant, otherwise the
banker's discount becomes a heavy lien on the profits, and the
stockholders grumble at small dividends.
Possibly Reuben Harris overestimated the value of his service in
financiering the business; at least he came to believe that he earned,
and ought to have a larger interest than James Ingram. Ingram, became
so cramped by assessments and money obligations that he was obliged to
sell to Harris most of his interest in the steel plant. Harris's
interests increased, till practically he was the owner of the Harrisville
Iron & Steel Works, and much property besides. He was quoted as a
millionaire, while James Ingram was superintendent of only a department
of the steel works, and his income was nominal. Often he felt that great
injustice had been done him. Several times he had talked the matter over
with Colonel Harris, but with little satisfaction.
The great wrong done to Ja
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