[2] A major business figure of his era, Farrell expanded US Steel by a factor of five during his presidency, turning it into America's first billion-dollar company.

John Guy Farrell was a ship owner and captain who was lost at sea when James was less than 16 years old, forcing the boy to find a job to help support the family.

[3] Perhaps because he was the son of a ship captain, Farrell never lost his interest in maritime affairs and in 1910 established the Isthmian Steamship Company, a subsidiary of US Steel.

Cognizant of his obvious talents, the board of US Steel appointed Farrell President of the company in 1911, a position he held for 22 years until his retirement at the age of 70 in 1932.

In a 1932 speech, Farrell said: West of you lies the Orient with the teeming millions of hard-working thrifty people, the great majority of whom, unfortunately are still existing on a standard of life materially below that of some of their neighbors.

[4]Farrell was the inaugural chairman of the National Foreign Trade Council, an institution he helped to set up and which he would continue to chair for many years.