The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-04-15

Fifty years ago the development Of an
american millionaire was a matter to at
tract much more than ordinary attention
and the lucky possessor of so much
wealth was regarded as an individual far
above the common run of mortals, says
the New York Telegraph At that period
OF the country's growth the mere title Of
millionaire was sufficient distinction in
Itself to satisfy the most ambitious To-
day millionaireS are so plentiful that the
ownership of vast wealth has in itself lost
most of its great distinctive feature, and
the rise of the fortunate does not attract
more than passing notice.
This truth has probably found no high
er eXemplihcation than In the reorgani-
cation Of the Carnegie Steel company
during the last few weeks. BY the new
capitalization of that concern and the re-
distribution of stock no less than a dozen
and probably more than that number of
money kings were added to the long roll
of millionaire, while the fortunes of 9TH
ers. already beyond the goal, were en-
HANGED by millions upon millions. Con-
spicuouS in the latter list are Henry
Phlpps, II. c. Prick and c. NJ. Schwab.
L
ly' If not more than $4,000 900, for, In
addition to his holdings in the Carnegie
company he has many valuable invest
ments on the outside which are constant
~ adding to his belonging. Outside of
Mr.. Carnegie he is the Oldest member Of
the company, but the fact remains that
much of his wealth has been accumulated
during the last ten or fifteen years
FORTUNES MORE THAN DOUBLED.
BY the reorganization Mr.. Tricks for
tune jumps from something like Sc. 900 900
TO over $l5,O00000. while the same is true
OF Mr.. Schwab. The former gentleman
mas made most of his money during the
last dozen years. and under the present
measure of prosperity Of Carnegie inter
ests 1t bids fair to increase by leaps and
bounds In the years to come, the same
being true of all investments within the
corporate domains of this company.
The rise of c. M. Schwab, at present
president of the company has been moth
ing short Of meteoric. He is yet a young
man, being far on the bright side of
forty. and at the same rate of progress
he has made in the last decade it will
be but a few years until his fortune as
Sumes colossal proportions
OF the newly made millionaires in the
concern. 4. NJ. Moreland and F. T. f.
Lovejoy are probably the most notable
ones, the others being minor officials of
the company, who fairly turned the mil
lion mark when the new deal was con-
summated two or three weeks ago. At
that time $26O,0OO,O0O in stock and be-
longings were apportioned among the
stockholders. and the new company start
ed in on its most prosperous era, with
certain prospects of large future profits
But while these announcements show
enormous prosperity on the part of in
dividuals, so common have such expert
ences become in the United States that
they hardly create a ripple of surprise
among the people. In fact, the announce
ment of a new millionaire is a matter of
constant recurrence, a few of the more
suspicious ones being given below.
MONEY MADE IN COPPER.
Ten years ago J. Augustus Heinze was
working for the Boston Copper Smelling
company, at Butte, Mont, at a salary of
$125 a month. Last week he refused an
offer of $l5,0OO.O0O for his copper holdings,
made by representatives of the Standard
OIL magnates, who are now said to con-
troll the largest part of the Montana cop
per mines and smelters.
Mr.. Heinze is just thirty years old. He
was born in Brooklyn, and received a
thorough technical education Some time
after he went West to work as a survey