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American steel magnate (1862–1939) whose Bethlehem Steel became the second largest steel maker in the United States, and one of the most important heavy manufacturers in the world. Thomas Edison once famously called him the 'master hustler.' Vintage matte-finish 10.75 x 13.5 Hartsook Studio portrait of Charles M. Schwab, signed and inscribed below in fountain pen, "To Louis S. Williams – with kindly remembrances of our association in the Emergency Fleet Cor., C. M. Schwab, Mar. 16th, 1920.” In fine condition. On April 16, 1918, Schwab became director general of Emergency Fleet Corporation, a board granted by Congress with master authority over all shipbuilding in the United States. President Woodrow Wilson had specifically asked Schwab to assume this responsibility. Schwab's biggest change to the shipbuilding effort was to abandon the cost-plus profit contracting system that had been in place up to that time and begin issuing fixed-price contracts. After America's entry into the war, he was accused of profiteering but was later acquitted.
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