Change

Revised Bessemer Converter
            In 1860 Henry Bessemer finally patented the steel process, and formed the Bessemer Steel Company, not without measurable competitors. Located in North Carolina, William Kelly had designed a similar, un-efficient process.  He did hold a patent and was working on a better model but went bankrupt. Bessemer quickly bought his patent. This was a step for Bessemer in becoming a major monopoly in the steel industry.  At first Henry Bessemer sold his process for royalties. The process didn’t work well and people were skeptical, almost putting it down as a failure.  He then came out with a better version and sold multiple royalties making around 1.65 million dollars by 1870.

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“It is true I had been successful on a small scale in overcoming one of the main difficulties in the new process, but there was still much to invent, and much that at that period I necessarily knew nothing about.”
 Sir Henry Bessemer