The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-02-14

| Syan1f1ta NTR HIiN mol urntaFO u
tbs c,,rrsnt business although he was
oons,,I,s,l =, "a important matters.
IS
enormous &EonS
The business, from lsss 70 1900 was
enormously profitable growing pY leaps
and jumps from year to year until IN
1889, the firm actually made on low
priced contracts in net profits, after
paying all expenses OF all Kinds VII
100000.
In November, 1883 Carnegie estl-
mated the ret profits for 1859 at ttV'eeV,-
900, and FTick then estimated them at
S42,5OO.OOO and avowed his ability. In or
dinarlly prosperous times. to sell the
property on the London market for
1Oo,000, 900 pounds sterling, or $50. .OV0'VOV'
In May, 1893. Carnegie actually re-
ceiyed in cash, and sun keeps Si,1IO'OOo,
given him as mere bonus for his nine
ty days option to sell his bsA per cent
Interest in this steel company for SlS1'-
$4,000.
Frlck's 6 per cent. on that basis
would be worth sls'23s.0O0.
Frlek now aleSss' r,sat q. '1e ,,,,, nvasn'
,, 81 t,,.s e"o,' y. ,sa.. t., mt he mods ~.
,.as.s-,1 "as.s., - t,,".n S,,,rr,,,,s nrns+r and
,.',,,,o. ,hat corns9Is suddsnlv and
,.,,s % ,.,,,a,,oi,,,t 49,, ,,,,s,,t ,o,yarIIs him ON
T,.o.ra,,as r.,,' ,,i., 1900 arbitrsr,lv demanded
y NJ. ~, -..,,s,,.,,.a 49,, 80 .t,,,,,rar, ana
ss, ,'i ,,a,,, -.'S 70, a,,csnt n gratI-
-. ~ r., ,,,sa'.,s,. -s,,Sn , T,.i,oo
,r.Ia,. 4, ~" ,,,taras, =, b,rmorv
-. IT, .s.,s.a.,,r ar5 s,,tsso,,antIv
81 - ~ 4,t,, a., =, I.rrar,, taOo
,,a s,a,. % Gsa,.r. ..s ~, sSd .,,ms SonrIy.I him
- NJ. aa,Os ~ fr.rns,,sl ,,smanded
~ ~ MI, ,5 % .sa, ~ Srr,cl,1 sbo,,G soil IN
~ ~. an az. tt s''a ,,,,a,a.t ~ ~ q nt Ggurp
~ 80 - - ..,,, .,is a,,,a,,St 60 ,a.s ,hon one
W." W." "CUts IT. ] .sia ,n,o.as, is fa,rlv
a'. Ia. - 80. 80 .ns,..5 ~ ,or a, tbat
49, - s,,t ~, a,,aras n ..n md allow
ts,,-o -. -, ~ ,,a,,. ,ha I,teres, snld
-, 80 Us, .oS,,.. - t,,Is .,d ,o,, Erick
.,,.a.s,,,,o s,n, ,or not ,,,s,dInr m bIs
~, sa,.o's ,sas.,s M
ue
I A Scheme Carried Out
FrIck now alleges that after his rsslg-
nation and at the time of this last in;
terview, Carnegie was fraudulently and
secretly, without Frick's knowledge or
consent, attempting TO carry out u
scheme, which, II successful. would en-
able Carnegie. as Carnegie hoped, to
conascate Fricks interest in the firm,
at probably not much over 20 per cent
Of its real value; that, say not over
S6.000. 900 for what on the basis Of Car
neSie'5 -5fiti6ns was worth '$1s, 2ss. .OOO.
This scheme. Frick says, he can prove
was to revive and relnstate and make
operative an unexecuted and abandon
I'd so-callel ironclad agreement Of 1887,
which related solely to Carnegie Bros.
& Company, limited. and never did iu-
clude the Carnegie Steel Company, linn
tied; and also TO attempt to make bind
ing on Fricls another so-cslled ronclad
agreemen: of 1882, which Carnegie
never before had executed, which Henry
PhIpps had always refused to execute,
and which many other partners had
never signed This agreement contem-
plated, In 1892, Carnegie knew, as Frick
now alleges, was absolutely void in
1889, and yet Carnegie appears at a
meeting Of the board of managers of
the Carnegie Steel Company, limited.
he.a 5anuary ? ,as i'Vv M d ,,slsadDg Inis re.
o,utIons whereby he attempted to make
oneratlyr and relnstate the so-called
Ironelad agreement Of 1881, and, also,
directed his co-partnrrs to sign the So
called agreement OF 1882, which neither
he nor any OF them had theretofore ex-
seuted. An this, II IS alleged, Carnegie
did secretly and purposeIy concealed
the knowledge thereof from Friek.
Carnegie was enabled to control his
partners because most of them stlll
owed the firm money for their interests,
and carnegle, dominating the firm by
majority interest, they were unwilling
or unable to Withstand his demands
Carnegie induced some of his cO-part-
ners to sign the so-called agreement Of
1892, and then, without warning, sprung
| upon Frlck a notice, on January Is,
! 1900, which he has also caused his CO.
partners secretly to sign, ana which
WAS based upon the pretended existence
OF the so-called ironclad agreement.
ND, =, 1,..r..+ ord.r.d
~
Carnegie followed this notice by COM