St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-07-11
FRICK WORTH ss, 900,
But Refuses to Listen to His
WOrkmen Appeals.

But refuses to Listen to His
Workmen's Appeals.
PITTsBURG, July 1O.-Henry Clay
Frick, the chairman OF the Carnegie
Steel company, limited, and the men,
berof the firm most prominently identi-
fed with the present trouble at Home
stead, is man of indomitabie courage
and Will power. He is native of
Pennsylvania, born at West Overton,
WestmOreland county, Dec. 10. 1S49.
His father, a farmer of means. gave him
good education and chance to know
the world. SO that at twenty years of
age he was fairly we'll equipped for
life. He began it With small display as
clerk in a dry goods store at Mount
Pleasant, and III 1869 improved his busI-
ness knowledge as bookkeeper at his
grandfather's flour mill and distillery al
Broadford, in Fayette county. While
there he discovered the possibilities OF
the coke business, and with fullness
and clearness which confirmed his faith
in it. With such capital as lie could
command he bought an interest in a
coal tract near Broadford, and with
some other young men built fifty coke
ovens. Encouraged by his experience
with these, the number of them was
doubled, then more coal land was
bought and the number of ovens again
doubled.
In 1873 the panic came. That was the
source as we'll as the ruin of fortunes.
1t was the tide which overwhelmed the
weak. but carried the strong on to re-
newed strength. Mr.. Frick's partners,
embarrassed by Endorsements. had to
sell their interests, which he induced
certain friends TO buy. AS the financial
distress increased. others in the coke
business were compelled to sell, and
Mr.. Frick was at hand to buy, and
ovens which he could not buy he leased.
Meantime his enterprise was called
that the tide would Overwhelm him
next. but he kept heart and struck out
the more vigorously. In answer to the
predictions, when the revival of busi-
ness occurred, he pointed to the annual
profits of the leased ovens as greater
than tide value of the ovens themselves.
He carried on the business in his
own name until 1878, when he sold
share in it to E. NJ. Ferguson, of New
York. when it was known as that of II.
G. Frick u Co. In 1882 the CarnegIeS
bought large share in it, and the name
was changed to the II. e. Frick Coke
company. 1t was the largest coke COM
pany in the world, controlling $4,000
acres of coal land and more than 1000
ovens, giving employment to more than
5000 hands. While enlarging the out
put. every means was used to make it
the best in the world. To obtain pure
water, works were erected costing quar-
ter of a million. As result the coke
was demanded for a steadily increasing
variety of uses, and its reputation firmly
fixed. 1t is said that no other man ever
saw $50 far into the future of the great
COnnellSville industry as he did, and
certain it is that no man ever yentured
upon it with more confidence. pursued
it with more energy. or reaped from ita
greater reward.
A few years later he bought an inter-
est in the firm OF Carnegie, Phipps &
Co., and when w. L. Abbott retired
three months ago he succeeded him as
chairman. July l of this year all the
Carnegie interests were consolidated,
with capital stock of S25.OOO, 600, and
Mr.. Frick was given absolute control of
the gigantic concern. His wealth is
variously estimated at from s5,0OO,OO0 to
SS,0O0,00O.