The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1900-03-22
CARNEGIE 5 FEW MILLIONS.
ENORMOUS PROFITS MADE AT
THE WORKS.
Last Year Cleared $21, OOO, 900, This Year
Will Clear $4O,OOO,OOO and Still Not
Wants More.

The interesting revelation made by
H. c. Prick, erstwhile manager of the
Carnegie Steel Company to the effect
that the company's net profits for the
last year were $21,000,000 and that the
profits for this year will probably be
twice as much, has drawn several ex-
CARNATIONS from the press. According
to Mr.. Prick, Mr.. Carnegie is trying to
make him surrender his shares to the
company for about $6,OO0,OO0 shares
which Mr.. Prick values at over SIG,
O0O-and Mr. Frick has brought suit in
the court of common pleas at Pitts
burg for an equitdJle accounting. In
his bill of equity, Mr.. Frick says:
The business from 1892 to 1900 was
enormously profitable, growing by leaps
and jumps from year to year until, in
1899, the firm actually made on low
priced contracts in net profits, after
paying expenses of all kinds, $21, 900, 900
In November, 1899, Carnegie estimated
the net profits for 1900 at $40 000. 900, and
Prick then estimated them at $42, 500, 900.
Carnegie valued the entire property
at over $25O,000000, and avowed his abil-
ity in ordinarily prosperous times to
sell the property on the London market
for 100000, or $500, 100000.
In May, 1899, Carnegie actually re-
ceived in cash and still keeps 81, 40, 900,
given him as a mere bonus for his nine
ty days option to sell his 5S.5 per cent
interest in this steel company for $751;
$4,000. Tricks per cent on that basis
would be worth $1623S, 0O0."
Some of the press are interested in
the spectacle of Mr.. Carnegie in court
as defendant in a case where he is
charged with illegal and fraudulent
conduct" and where one of his bust
ness transactions is referred to as a
fraudulent scheme" The indications
are, remarks the Minneapolis Times,
that Mr. Frick will be able to drag the
price of three or four Libraries from the
unwilling pockets of the canny Scot"
The Chicago Tribune says:
The Carnegie Company made ST.,
00000 last year and yet Mr.. Carnegie
is not satisfied. He wishes to get pos
session of Mr.. Tricks interest for less
than it's value.
"The Standard Oil Company has lust
declared a quarterly dividend of $50
100000, or at the rate of $SO,OO0,OO0 for
the year, and yet it's directors are not
satisfied. They wish Congress to pay
subsidies to the ocean-going vessels IN
whose earnings they have a share.
IF there are any other American cor
porations who's profits were $20,000,000
last year, or promise to be $50, 900, 900
this year, it may be taken for granted
that the men at the head of them are
no more satisfied that the Carnegies
and the Rockefellers, and are no more
scrupulous as to the methods of adding
to their possessions.
There seem to be no limit TO the ra-
pacity of corporations which have been
built up at the expense of the public
by excessive tariff protection, by illegal
railroad determinations, or official
faVoritism. The men who rule those
corporations may not want the EARTH
but they certainly want the United
States and the abundance thereof.
"They and their allies on land and sea
are working at the entire subjugation
of the Government, so that they may
add more millions to their present an
nual revenues of $20,000,000 in the case
of the Carnegie Company, and $50, 000,
900 in the case of the Standard Oil.
They try to put their creatures in all
official places which touch their inter-
ests at any point.
"They demand subsidies for their
ships,
"They insist that the money of the
Government be deposited in banks in
which they are heavily interested so
they may be able to control the stock
markets and lend to the taxpayers the
money which the latter have contrib
uted to defray governmental expenses.
Their demands are generally complied
with.
There are three things that are never
satisfied; yea; four things say not 1T
is enough"
That may have been the case in the
old Hebrew days.
To-day there are the Standard Oil
Company the sugar trust, the Interna-
tional Navigation Company the Ma
tional City Bank, and other colossal
| corporations Which overshadow the
Government itself and are never sat
! isfied.
when will they have enough?"
According to Mr. Tricks estimate it
will be seen that Mr. Carnegie's income
this year from this source would be
about 1000 a day mo wonder An
drew Carnegie can toss off a library
whenever he feels like it," says the Chi
cago Record. According to The Library
Journal New York;, Mr.. Carnegie
gifts to Libraries last year aggregated
! 81 503 300