The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-03-04
Carmegje>S Partners.
MenWho Rose From CIerkshps to Be MtIIionaires.

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The suit recently begun by H. G. Frick
against Andrew Carnegie has attracted
much attention to the personnel Of the
Carnegie concern. With few exceptions
the forty partners in the firm are young,
self-made men. All rose from obscure po-
sitions, and some amassed fortunes in a
few years.
III. c. Frick who Is hfty-one years old,
started life in the Connellsville coke
region as clerk in a country store. He
took advantage of the depression fol-
lowing the panic of 1873 and bought coal
and coke properties cheap. He became
rich and then made an alliance with Car
negie. This was profitable to Frick, as
Carnegie was large buyer of coke. Car
negie saw the advantage of solidifying
this alliance and bought an interest in
the coke company. Then Frick bought
stock In the Carnegie company. Frick
thinks his per cent of the 1923, 0O0, 900 stock
of the steel firm is worth ST, 900. Car
negie has offered him 100000 for it.
Henry Phipps owns II per cent of the
stock. He is the son of a poor shoe
maker in Allegheny City, where he was
born and raised His first employment
was as clerk for a transfer firm. His
acquaintance with Andrew Carnegie be-
gan at meeting of a young peoples
debating society, of which Carnegie was
the leading spirit.
Phipps formed partnership with Thorn
as N. Miher in the iron business. They
disagreed and Phipps appealed to Carne-
gle for aid. Carnegie bought an interest
in the business To a friend he wrote at
the time that he had gone into the iron
business against his will to save a friend.
Phipps continued in the firm, and has
been Carnegie's steadfast friend for thir-
ty-seven years. By 1.-THE irony of fate
Phipps, whom Carnegie saved and made
millionaire many times over, has now
turned against Carnegie and taken sides
with Prick. Phipps' friends claim, how
ever, that it was Phipps who made Car
negie, as Carnegie only went into the iron
business at Phipps's earnest solicitation.
Phipps never signed the "iron-clad'
agreement, as the. other partners did,
and it cannot be used against him.
There used to be a saying in Pittsburg
that there were three persons In the
world that Andrew Carnegie loved-his
wife, Henry Phipps and George Lauder
LADDERS LEAP.
Lauder is one Of the consulting part
ners in the firm and owns 4 per cent of
the stock. This, at Tricks valuation,
would be worth about 100000. Lauder
Is Scotchman, who came to this coun-
try about the same time as Andrew Car
negie He began as a clerk and was adj
United as a partner In the Carnegie con-
Germs when the firm of 1Megie e. Bro.
was formed in 1871 When the Frick-Car-
negie war broke out Lauder sailed for
Europe TO be away from the strife, and
is still there.
G. M. Schwab, president of the Car
negie company, was born in the village
of Williamsburg, Pa, Feb. is, 1862. His
parents moved to Loretto where his IA
Their owned a stage line. Young Schwab
was educated in st. Francis college at
Loretto, and when nineteen got job as
clerk in q large store at Braddock, near
the Carnegie mills. Soon afterward he
entered the mills, also as a clerk. He
had q talent for mechanical drawing that
attracted the attention Of w. r. Jones,
the manager of the mills, who sent the
youngster to a Pittsburg night school.
Schwab's first position Of prominence
was assistant engineer at Braddock He
planned the immense blast furnace plant
of the Carnegie company at Braddock
and the new rail mill which became
famous all over the world. If Frick wins
his suit Schwab's interest will be worth
100000. He gets salary Of $4,000
year as president.
Henry M. Curry, who Is expected to die