The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-17
Mr.. CARNEGIE'S FORTUNE
HIS PERSONAL EXPENSES SAID TO DE
HALF A MILLION YEARLY.
Pittsburyers Surprised Tint He Esti-
mates His Wealth at "Only" $780,
100000 tricks Interest.
Pittsburg Letter in Philadelphia Press.

Pittsburg Letter in Philadelphia Press.
Andrew Carnegie's statement made a
few days ago in London, that he could
clean up 500. 100000 by disposing of all his
interests, chiefly those of the Carnegie
Company, has revived discussion in Pitts
burg concerning Mr.. Carnegie's enormous
single fortune. 1t is interesting TO note
what difference IL would have made in the
Carnegie pile had III. c. Prick and his as
sociates accepted the settlement which Mr..
Carnegie wanted to make when Mr.. Frick
withdrew from active business.
According to the figures which were
given by Mr.. Frick, his weather. part
ne- would to-day be richer by the sum
of about si5,OO0, 900. Mr.. Carnegie would
now be worth quarter of a billion OF
dollars. had Mr.. Frick acquesced in the
proposed settlement. But Mr.. Frick did
not acquiesce and in consequence that gen.
tleman received about s1S,OoOOOO in addi-
ton to what Mr.. Carnegie wanted to give.
1t is also known that the basis of set
Element was very satisfactory to those
partners who did not join Mr.. Frick in
his fight. They became large beneficiaries
by the terms of the final settlement and
the total addition to their holdings by the
reorganization of the company amounts to
sum in the neighborhood of $4,000 900.
This amount would have gone into the
already well-filled wallet of the laird of
Skibo Castle. had Mr.. Frick not brought
his famous suit or had Mr.. Carnegie fought
and won It, instead of dropping out be-
fore the draw.
The statement of Mr.. Carnegie in Lon
don estimating his fortune at s20O, 900, 900,
caused some surprise in Pittsburg, where
it has been supposed that Mr.. Carnegie
had a larger private fortune than this
would indicate. A gentleman conversant
with Mr.. Carnegie's affairs states that
he received in the final settlement of the
Frick suits, bonds of the new Carnegie
company to the amount of about S., 900,
600 and stock to the amount of about
$50, 100000 This makes the entire Carnegie
interest in the company $40, OOO. OOO In adj
dition to this Mr.. Carnegie is credited
with holding investment securities of vari-
Gus sorts and cash to the amount of about
$3O,000,000. the latter constituting a sort of
private fortune.
Mr.. Carnegie's statement is taken 70
mean, among those who know him, that he
now admits the validity of III. c.. Tricks
claim as to the value of the Carnegie in.
terests.
One prominent Pittsburger, upon reading
the statement attributed to Mr.. Carnegie
said: II don't think that a man with all
that wealth should covet Naboth's vine
yard, especially after Naboth had helped
him to get it." This was in reference to
II. c. Prick, whose management of the
Carnegie property for many years is con-
sidered by Pittsburg manufacturers as the
great factor In placing that concern on it:
present footing
CARNEGIEs FIRST WEALTH.
Owing to his association with the Penn
sylvania Railroad Mr.. Carnegie made his
| first money out of the American sleeping
| car invented by Josiah Woodruff He was
one Of those who took up Woodruff's idea
which was later developed by George Pull
| man. This was the first cash made by An.
drew Carnegie in a commercial enterprise
of any consequence. 1t gave him an oppor.
tunty to go into oil when the first big wells
| came in throughout Venango county In
the days of Oil Creek and Pithole He was
| a stakeholder in the Columbia Oil Com.
pany, a concern which earned s1,00O,O00 In
| its first year. Out of that deal Mr.. Car.
negie made about $780, 900, giving him a for.
| tune of 100000. which meant something il
those days. Soon after this Carnegie went
| into iron. He started the keystone bridge
l..
| Mr.. Schiller. who were employed on the
western division of the Pennsylvania Rail
road during Mr.. Carnegie's connection with
/ the road.
The Edgar Thomson rail mills were built
| by Mr.. Carnegie to turn out 10000 tons o.
rails annually. When the late Capt W. K
| Jones produced 10000 tons one year 1t wa:
| hailed as remarkable feat Just before
| Mr.. Frick left the concern the same work.
had producing capacity of $4,000 tons o.
| steel rails annually.
A good story is told about Carnegie anc
| Jones. On one OF his visits to Braddoci
! Mr.. Carnegie said TO Mr.. Jones: do yor
| know, Mr.. Jones, 1T is one of the greatest
| pleasures of my life TO feel, when / am or
| the ocean going away, that / have such
| competent men in charge, and that L an
| leaving n man like yourself behind 10 rur
the MILL"
"I feel that way, too" said Captain Jone.
without cracking a smile.
Mr.. Carnegie's annual expense accoun,
/ Is in itself a fortune. Up to five years ago
when he married, IL is estimated that he
| spent about one hundred thousand dollars
| per year to live. Suites of apartments ir
| kept in readiness fer him. Since his mar.
| riage it is estimated that Mr.. Carnegie
annual living expenses amount to about
| half million dollars. The maintenance oil
| Skibo Castle in Scotland alone costs g
princely income. Among his remaining
| annual expenditures is a private pension
| list which contains the names of pool
L 0elDeC
young ANDY Carnegie without dreamins
| that he would one day be able to hell
| them.
| On this list for many years was the name
| of an old man who had been kind to youne
| ANDY" when he was telegraph messen.
| ger. The old man was very poor wher
| discovered by the steel manufacturer, and
| the latter settled the sum of 81, 500 per yea
| on him and upon his death il was paid &c
| the widow.
HIS NUMEROUS FADS.
| Mr.. Carnegie has had numerous fads ir
| addition to libraries and pipe organs. One
| Of them was the owning of newspapers
| Ten years ago he bought up eighteen Sec
| ond-rate English newspapers. with the idea
| of running them on a common basis. He
| sold out at small loss when he found tina,
| he was making personal enemies on &C.
| count of the diverse views his newspapers
were forced to express in order to suit the
| tone of their respective localities In one
| town Mr.. Carnegie was a Radical in an.
| other Liberal and in still another a Con
servitiVe. Mr. Carnegie has a host OF
| cousins and nieces and nephews, but few
c.oSe relatives. living. The nearest one is
| George Lauder, jr., of Dunfermline Scot.
| land. the birthplace of the steel baron HI
| IS an uncle to Mr.. Carnegie and is the
| father of George Lauder, one of the Car.