Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-07
ANDREW CARNEGIE RETIREs.
VIII Devote Himself i'm Future En-.
tircly to His PhiInnrbropies.
tNcW YORK Press-tthl \

PROSECUTION OF his works of phlan-
thropy viii henccforth occupy all the
Time and attention Of Andrew Carnegie,
and he Will retire from the activities OF
the several gigantic industries which he
mas founded. absorbed. and extended
Henry c. Frick, who is Mr. Carnegie's
closest business associate, is the authori-
~ Tor the statement. He made It last
night, supplemental to a denial that the
carnegie Steel Company. Limited. and
the III. G. Frick coke companies had in
view combination with other steel in
ierests. These rumors, ne said, were alb
solutely without foundation.
INTERESTS CONFINED.
What was in contemplation" said Mr..
frick, 'and what Is now practically con-
summated. is the amalgamation under
one corporate organization Of all of the
properties and interests Of the Carnegie
STEELE Company, Limited, and the II. c.
Flick Coke Company, and their subsi-
diary and allied organization.
practically the only change in the
situation Will be the retirement OF Mr..
Andrew Carnegie from the organization.
he having sold to his partners his
entire interest. Mr.. Carnegie's intention
being TO give his entire time in the future
to the prosecution of his great philan-
thrOpic works.
with reference to the charters which
nave been obtained in PENNSYLVANIA and
New Jersey, there is nothing 10 sav ~
present. but IL should be well understood
that there viii be no change in the man
agement of the various companies"
ENTERS a NEW FIELD.
ness-for il is practically that-marks an
epoch in one of the most important in
uustrial interests in America. And 4
does more than that. II marks the an
tering OF new field by man of ire
mendous energy, who. If ne gives harf
the attention TO the sole pursuit of phi
lanthrOpc work that he has given TO
the prosecution OF his business enter
prises, will excel the record of Stephen
Girard or George Peabody, both of whom
gratifed similar ambition after excep-
tionally successful business careers.
Andrew Carnegie is a strong well-pre-
served man Of 81. According to the
stories circulated yesterday in Wall street,
the interests he disposed of netted him
something like $l5O,OO0OOO. so that this
pot boiler, added to the wealth he already
possesses, will enable him to exercise his
phlianthropic intentions 70 the top OF
his bent.
Wall street daily expects the official an
nouncement of the 50O,0OO,OO0 steel trust.
Prick PRESIDENT, MAY BE.
The fact that the plans are so compre-
hensive and involve such a vast sum Of
money makes the efforts of the promoters
public property, and it Is known that a
successful issue is at hand. Well in
4
the president of the new concern, and
that its title will be the Carnegie Com
pany. The amount of capital still is in
the balances, as the managers of several
companies are hesitating, or, rather,
clubbing, about prices.
The option Of the Carnegie plant was
given 10 Mr.. Frick, with the condition
that Mr.. Carnegie's name be used. That
stipulation has become a hobby. other
wise Mr.. Carnegie does not appear as a
factor in the big steel combination.
The list OF companies TO be included in
the new combination was given Wednes-
day morning. As yet there has been no
change. but it is believed that the Fede-
raj Steel Company will meet the promo
tiers of the new enterprise on some sort
of terms. So, too. will the American Steel
and Wire Company, as to which there has
In any event, there will be a grand
consolidation of steel plants, and the cap
ita will be in the neighborhood of half
u billion Of dollars.
SOME OF HIS GIFTS.
With all this or any part of it, Mr.. Car
negie will have no concern. Steel and
iron and coke will have no further at
traction for him. Endowments for edu-
cational institution and the seeking out
of individual cases of merit will take
the place of business.
Mr. Carnegies last great gift was in
March of this year The sum Of 81, 7J0, GOO
was given TO the Carnegie Institute, in
Pittsburg. This was the most generous
of his many benefactions one OF his
earliest philanthrOpies was tho building
of elaborate swimming baths in Dunferm-
line. Scotland, in which town he was born.
In 1880 he gave his fellow-townsmen a
free library
In 1884 he handed over $4,000 to Bellevue
Hospital, in this city, for The erection of
a laboratory. and in 1885 Pittsburg re-
ceived the gift of 81 100000 for public
library. music hall, and art gallery, and
a second million TO endow the art gallery
and museum.
BUILDS FREE LIBRARIES.
In 1886 Allegheny City received from him
$4,000 for a music hall and library, and
in the same year he sont 100000 to Edin-
burgh for free library. Western Penn
sylvania benefited largely from his gene
rosty I'm 1887 and 1883. He established free
Libraries at Braddock, Ayr, and Johns
town.
Chicago University received from him
the sum OF 81. 900 900, and the Washington
Free Library $4,000. The Duquesne In
stitute received 10000 and for American
art he devoted $1,000 900. The Pennsyl
vania State College got 100000, and for
the organ of the Church of the Divine
Paternity he contributed $210o0.
The total Of his gifts up to March of
the present year amounted to within
$500 OF twelve millions-the exact figures
are 81 $4,000 and this is exclusive of
the Carnegie Music Han, in this city.
HIS WEALTH A TRUST.
Mr.. Carnegie regards his great wealth
in the light OF a trust. Fifteen years ago
he said:
money is left by milionaires to public
Institutions when they must relax their
grasp upon il. There is no grace, and
there can be no blessing, in giving what
cannot be withheld 1t is no gift be-
cause only given at the stern summons of
death Peter Cooper, Pratt of Baltimore.
and Pratt of Brooklyns and others. are
the type of men TO take for model.
They distributed their surplus during
life
81 am a rich man. I have got enough.
A man cannot carry his wealth with him
when he leaves this world. l have one
intention. 1t is that at my death I'll
not be worth one dollar.
MAN does not live by bread alone, ard