The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-02-14
said association of the plaintiffs inter

said association of the plaintiffs inter-
est in the firm
Fourth-A decree ordering the defend
ants to cancel and erase all entries upon
the books Of the firm of the Carnegie
Steel company, : limited, of unfair and
improper valuations of its assets, and of
the plaintiffs interest therein, and cause
the said books so to be kept as to fairly
and fully show the real value Of the
Carnegie Steel company, limited, and the
plaintiffs interest therein.
Fifth-In case the defendants shall re-
fuse the offers made by the plaintiff, and
shall refuse to continue the said business
and to allow him to participate In the
management and control thereof, and of
the properties of the Carnegie Steel COM
pany, limited, in conjunction with them
selves, and shall insist upon the exclu-
siye management by themselves of said
business and assets, and shall continue
to exclude the plaintiff from his. interest
in the business and assets Of the said
firm, that the court will thereupon allow
the Carnegie Steel company, limited, dis
solved, and appoint receiver to take
charge of all the business and assets
of the said firm, permitting said re-
ceiver to fulfill unperformed contracts,
and to do whatever shall be necessary in
and about the proper liquidation Of its
affairs, and that after the conversion of
the entire assets Of the company into
money and the payment Of the debts of
the said company, the court will then
distribute the balance thereof among the
poIlHSIS III pTOpOTllOU 10 lIclT luIoT6SIS.
Sixth-That an account be taken be-
tween Carnegie and the plaintiff whereby
Carnegie shall be charged with all the
losses, expense and damage he has caus-
ed by his Illegal and fraudulent conduct;
and that. If Carnegie persist in his said
fraudulent scheme and refuses the Of
fers hereinbefore mentioned, and thus
causes the actual dissolution of the firm,
reason Of the said dissolution and forced
winding up of the firm shall be charged
against him, and that he shall be de-
plaintiff the difference between what his
interest was fairly worth on or about
Feb /. 1900, and the amount he shall re-
ceive through the decree of this court IN
final liquidation and settlement of the
said firm.
BILL SUMMARIZED.
The bill In equity is quite lengthy, and,
as summarized by Willis McCook, Esq,
counsel for Mr.. Frick, Is as follows: In
1892 there were two limited partnerships
a. called Carnegie Bros & Co., limited,
with a capital Of IS, ,000,0 900, which made
steel rails and owned only the Edgar
Thompson steel rail mill in Braddock
township; and (2) called Carnegie, Phipps
& Co., limited, with capital of $780,
OOO which made all kind Of steel plates,
structural material, iron forgings, made
the material for and built bridges, made
armor plates and made material for the
same.
This latter firm owned the upper and
lower mills in Pittsburg, the extensive
Homestead mills at Homestead, the Key
stone Bridge works in Pittsburg, the
armor plate mill near Homestead, the
Hartman Steel works in Beaver county
and other properties.
Carnegie owned over 80 per cent Of
each Of the old firms, and ne, with Frick,
Phipps and others, owning interests in
each, formed In 1882 what constituted a.
new partnership called the Carnegie
Steel company, limited. In this Carne-
gle retained over 30 per cent and now
has 5sA per cent. while Frick has .
per cent Both old firms were merged
into the new, which had capital Of