Omaha daily bee., 1892-07-11
SOME OF FRICK's HISTORY.
How the Foundation of His Immense For
tune Was Laid.

HOW the Foundation OF HIS 1mmen Sc FOR
tune Was Laid.
PITTsBURG, Pa, July 1O.-henry Clay
Frick, the chairman of tho Carnegie Steel
company, limited who has been identified
with the present trouble at Homestead, Is a
man of indomitable courage and will power.
He is native of Penusy sylvania, born at West
Cverton, Westmoreland county, December
10, 1919. His father, a farmer of means, gave
him good education and a chance to kn ow
the world, so that at 90 years of age he was
fairly well equipped for life. He began it
with small display as clerk in dry goods
store at Mount Pleasant, and in 1869 I'm
proved his business knowledge as bookkeeper
at his grandfather's flour mill and distlllcry
at Broadford, in Favette county. While
there he discovered the possibilities in the
coke business, aud with a fullness and
clearness which contit med his faith in it..
With such capital rs he could command he
bought an interest in coal tract near
Broadford. and with some other young men
built fifty coke ovens. Encouraged by his
experience with these, more coke land was
bought. .g5-3 r~..
tf. .. When the Panic Came.
In 1878 the panic came. Thai was the
source as we'll as tho ruin of fortunes. IL
was the tide which overwhelmed the weak
but carried the strong on to renewed
strength. Mr.. Frlck's partners, embarrassed
by endorsements, had to sell their interests,
whi ch he induced certain men to buy. AS
the financial distress increased other coke
men were forced TO sell, and Mr.. Frlck was
on hand to buy, and ovens which he could
not Duv he leased. Meantime, his enter
prise was called rashness, and there were
predictions that the tide would overwbelm
him next. but he kept heart and struck out
all the more vigorously. In answer to the
predictions, when the revival of business oc-
Cured, he pointed to the annual profits of
the leased ovens as greater than the value Of
the ovens themselves.
He carried on the business in his own
name until 1878 when he sold a share in it to
Il. Nj. Ferguson of New York, when 1t was
known as that of II. g. Frick ~ Go. In 1882
The Carneges bought large share in 1t and
the name was changed TO the ii, e. t'rick
Coke company. 1t was then the largest coke
company IN the world controlling ROOD
acres of coal land and more than 4 200 ovens,
giving employment to more than 1000 hands
Made it the Best in the World.
While enlarging the output every means
was used to make it the best in the world.
To OBTAIN pure water, works vera erected
costing d quarter of n million. AS a result the
coke was demanded For steadily increasing
variety of uses and its reputation firmly
fixed.
1t is said that no other man ever saw 80
fur into the future of the great Connellsville
industry as he did" and certain it is that II o
man ever venIured pom it with more con-
fdence, pursued it with moro energy or
reuped from it a greater reward.
A few years later he bought an interest in
the firm OF Carnegie, Phipps " Co., and
when W. L. Abbott retired three months
ago he succeeded him as chairman. On July
| of this year all the Carnegie interests were
consolidated with capital stock OF S!5OJO,-
00O and MIR. Frick was given absolute con-
troll OF the gigantic concern. HIS wealth is
varously estimated at from 100000 900 to
SS,0O0,0tO.
Ten years ago he was married to Miss Ada
ChldS daughter of the late Asa u. Childs, a
prominent citizen OF Pittsburg and for many
years at the head of the Pennsylvania cotton
mills. The union WAS blessed with three
children. He resides in one of the handsom-
est residences OF the east end.
The Homestead plant comprises 600 acres,
with thirty seven acres under root. When
in operation the entire plant requires 3, 500
men to operate it. The plant Is valued at
5000 900.