New-York tribune., 1900-03-22
HISTORY OF THE FAMOUS CASE.

for the hard times and slack business Of former
years
MR. TRICKS ALLEGATIONS.
Among other allegations in the bill OF equity
fled by 0Ir. Frick's lawyers were these
In Novembe-. lsse Nr. Carnegis estimated the net
tire Dropsr7,- ~ yr ~, ~ ayS ana 4I.ayed ~
ability II ordinarily prosperous times 70 sell the
property on the London market for El00Na.GS or
In May 1889, Carnegie actually received in cash.
and stiu keeps II700e0. given MIN mere bonus
interest in this steel company tor si5 s5otsO Frcks
per cent THAI basis would be worth slS.2SS0o
Frick now alleges. right at the height OF this
enormously successful business. where5y-at least
in part-he made for Carnegie these enormous
profits and values. that Carnegie suddenly and with
naievolent intent toward him. December 4 1893.
arbitrarily demanded Of him his resignation as
chairman. and this without any reason except 10
crafty Caruegie's malice.
Frick. in the interest OF harmony gave his re-.r
nation, and subsequently. and on January Il 1900
after Carnegie had thus deprived him OF his office
he (Carnegie) demanded OF Frfck chat ne (Frick(
should sell % the firm his interest in il az a agrs
whlcn would amount 20 iess than oue-haIf OF what
mat price but offered 70 sell and allow three
his demand.
Frick now alleges that after his resignation ard
az the time OF this last interview, Carnegie was
fraudulen-ly and secretly. without Frick's knowI-
edge or consent, attempting carry out a scheme
which If successful would enable Carregie as
interest
the Arrl al probably not much more than g per
cent 6 OF us real value-Jhat is 70 say. NOT over
100000 for what on the basis OF Carnegiss option
was worth SIS 23S OG0
ABLE TO CONTROL HIS PARTNERS
Continuing Mr Frfck's attorney alleged at the
time ne fled the bill IN equity;
That Carnegte was enabled 20 control his part
ners because most of them still owed the Arm
money Tor their interests and Carnegie dorninal-
ing the firm by a majority interest, they we're
willing or unable TO withstand his demands. That
carnegie induced some OF his copartners TO sign
Jle so-cGlied agreement OF 1892. and then without
warning sprung upon Frick a notice January Is.
100 which he has also caused his copartners
secretly TO sign, and which based upon the
ment.
Carnegie followed this notice by compelling on
February /. 1890 SCnwab. the president ~ rrs
company. 10 transfer the books OF the COMPANY
al Flick interests in rhe Carnegie Steel COMPANY
Limited. TO the said company. and he now pre-
tends that he tCarnegiel practically dictate 20
FLICK the value ~ which ne will take these IN
anything for the goodwill OF the company is nor
entitled 70 have his interests valued as Of going
concern, but that he lCernegie) can use old and
obsolete figures. which have stood on the books
Tor years in many respects unchanged SO as 70
reduce the value OF Frick's interests 20 the neigh
bOrho0d. he hopes. OF about s.. .0o0.09O
As Carnegie owns 5Sie per cent OF the Caruex-,
Steel Company. Limited, he VIII the-eTore oITn
more than oDe-hasf OF the per cent which Erfcs<
sells, ana = he can thus acquire per cent ot
trlckS holdings for what would amount 70 abottr
SS,ttHtcO. ne VIII make net profit OFF thar trans
acton alone. based on his selling price A
above stated. in the neighborhood OF S000.0o0.