The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-03-13

business of the association being conduct
ed under the direction, supervision and
management of the president who held
general executive power
Mr.. Carnegie and his co-defendants saw
that Mr.. Frick did attend the meetings
regularly. and kept himself informed as
to the business of the company but his
time, they allege, was largely employed
in attention to his duties in connection
with other enterprises, and various specu-
lative schemes for placing the property
of the association in the hands of pro-
moters to be f1oated In marketable Sc
curities on the public. However the de-
PENDANTS do not question his ability, and
say they would be glad to have him con-
tinue in the business Of the association,
had not he himself forced the trouble
and rendered such impossible.
MR.. TRICKS TEMPER.
1t is charged that Mr., Frick is a man
of imperious temper and attempted 10
make personal matter of business dit.
ferences, giving away to violent out.
bursts Of passion. The defendants state
that he demanded absolute power and
without 1t was not satisfied. After Jan
II, 1885, the answer recites, when he
ceased to be chairman of the association,
and was merely chairman of it's board OF
managers, with no power except to pre-
side at board meetings, the plaintiff was
and continued to be dissatisfied He
sought and was refused an enlargement
of his powers, for the reason that such
action, it was thought, would indicate a
lack of confidence in the president of the
association The plaintiff, 1t Is alleged,
chafed under the limitations of his pow.
ers, and the discordant situation which
developed was largely due to Mr.. Frick' s
dissatisfaction with the transfer of the
11,g g
to the president.
1t is denied that Carnegie was actuated
by malevolent motives in demanding the
resignation of Mr. Frick as chairman,
and it is stated the resignation was de,
manded in order to preserve harmony in
the interest of the association.
PROFITS OF COMPANY.
Touching upon the profits of the COM
pany and the attempt to organize stock
company, the answer states that Mr.,
Carnegie, while al luncheon with the
plaintiff, and others connected with the
company, by way Of jest undertook to
make estimates of the profits of the
company for the year 1900, and that the
defendant, Andrew Carnegie, under the
conditions then existing, did make an
estimate substantially as averred in the
ninth paragraph of plaintiffs bill, such
estimate being a mere guess at results
to be ascertained fourteen months in the
future, which were then and are still In
volved in great uncertainty.
1t is admitted that the profits of the
company for the year 1899 were substan-
TALLY as averred by plaintiff The
amounts also stated. however, refer only
to the difference between the amount of
sales and the actual expenses of manu-
facture and do by no means indicate the
amount available for distribution as divi
dends.
1t is denied that the association has
assets which it could transfer, worth
$3.50, 900, 200, and it is asserted than on Dec
IL, 1899, the books showed that the net
value Of the assets of the association
was S75, ,10406
The defendants ask that the bill be dis.
missed with costs placed upon the plain
tiff