The age-herald., 1900-03-13

Pttsburg, Pa., March 12.-Late this even- ing the answer of the Carnegie Steel com pany limited, defendant in the equity suit of H. O. Prick to determine the value of his holdings in that company, was filed in the common pleas court
 The document is voluminous, and meets every averment of the plaintiff in fullest detail.
 An abstract of the bill follows:
 1t is denied that Andrew Carnegie and others named in the plaintiffs bill during April, May and June, 1892, executed articles of association for the Carnegie Steel com pany. limited but they did subscribe to an amendment of the original certificate under which Carnegie Bros. & Co.,, limited, had been organized as a limited partnership as- sociation. Said amendment was not for the purpose of creating new partnership, but for modifying the terms of the original certificate.
 It is true the name of the association was changed, and for the convenience of the business the principal offices were re- moved from Bessemer to Pittsourg. The business was enlarged subsequent to the change of name. The capital of the asso- citation was increased from $5.000,00O to $25, UUuuUU, ana II IS dchuOWl6uSSu that liO piO- vision was made for the payment into the treasury of the association of the original capital which had been subscribed in 1881. However, regardless of plaintiffs legal ad- vice, recent or remote, or his belief as to the legal status of the association his own actions in connection with it and it's busi- ness have been such as to estop him in ques tfoning the validity of its organization as partnership.
 sets Forth History
 The answer sS'ts forth the history of MT. Tricks membership in the association To begin wiNh, his interests were acquired in the same manner aus other young part ne-s. He was not required to pay for the sa me. provision being made for payment out oi the future profits. Mir Tricks inter- est was acquired about January IA, 1887, under the terms of what is known as the iros1-clad as.esment, and amoun.ed to .oe0 of ahe capital stock. In May 1889, an opt.on was given to Mir. Prick to ac- quire on January l, 1894, an additional in- deresit of 3 per ceIls. This Sption was aD- r9g sted in November, 1880, with MT. Tricks cor ent, but as compensation he was cred ited in his account w3sh the association with the sum of $13S, ,1466S representing the increase in the book value of the interest accrued on the oDsion from the time it was given until abroga ted. Subsequently he acquired an adidtonal l per cent, then s per cent, for wlLGl he made no cash except as hereafter stated. In February, 1895, MT. Fr.ck was the owner of F per cent. of the cap3tai, on which he owed Andrew Carnegie $1, ,S091 191 balance FAf rario bon under 'n.s agreement with MT. Carnegie personally liable, the interest acquired be- ing the only security which Mr. Carnegie he'd. It being at tEat time a period of business depression, MT. Prick went to Mir Carnegie and expressed a desire to re- duce his holdings in I1he asscc.att1n, re- questing MT Carnegie to purchase s,t Jae book value per cent. of the II per ceaJt held by him.
 Paid Him Back V..iuc
 Mir. Carnegie paid him the then book value, which was greatly in excess of the price paid for it by Mr. Frick. After this transfer, MT. Prick held only 6 per cent of tlae whole and the balance due on that percentage from Mir. Prick for the purchase prce was finally adjusted and pad to Car nege, the payment consstng of $129,000 in bonds of the II. c. Flick Coke company at par and $191 .S3 in cash. This is all Mr. Prick has paid for his interests in the Carnegie Steel company while the credits from his stock earnings, the amount paid was only $30e, COX. ail told fer interest worth $5,000,- GOO. He accepted without question the book value for per cent. of his holdings at a time when he feared the stock would depre- ciate, but now refuses to accept book valua- tions for the balance of his holdings. As to the value of MT Tricks services, which he claims largely added to the success of the association. MT Carnegie says Shat since January, 1895, MT. Tricks functions have been merely advisory. MT. Prick did at tend the meetings with regularity and kept himself informed as to the business of the company, but his time was largely em- ploysd in attention to his duties in connec- tion with other enterprises and various speculative schemes for placing the prop