The age-herald., 1900-02-14
HISTORY OF THE FAMOUS CASE Carnegie Forced Prick to Re-
 sign His Position TO CONFISCATE HIS INTERESTS Under the Agreement Forced on the Small Shareholders Carnegie
 Will Make a Net Profit of
 $5,ooo,ooo
TO cONFISCATE HIS INTERESTS

Pittsburg, Pa, February 13.-Henry Clay Prick filed bill in equity today in the court of common pleas, No. 1, of Allegheny county, against Andrew Carnegie and the Carnegie Steel company, limited, praying;
 l. For a decree that the pretended trans fer of his interests in the company was and is null and void, and that he is still the owner of all such interests. and is enti- tied in every lawful way to represent and act for the same.
 g. For an injunction restraining the de- fendants from any interference with his interest in the said company, and from ex- cluding him from participation in the care and management of the assets and busi- ness.
 8. A decree ordering the defendants to cancel upon the books of the firm any as- sfgnments or transfers heretofore made or pretended to be made to said association of the plaintiffs interested in the firm.
 f. A decree ordering the defendants to cancel and erase all entries upon the books of the firm of the Carnegie Steel company, limited, of unfair and improper valuations of it's assets and of the plaintiffs interest therein, and to cause the said books to be kept so as ito fairly and fully show the real Ndlue Ol iHe OdTHSSlt Otcci CompdhyB ited, and the plaintiffs interest therein.
 To Declare Company Dissolved
 G. In case the defendants shall refuse the offers made by the plaintiff and shall re- fuse to continue the said business and al- low him to participate in the management and control thereof, and of the properties of '.he Carnegie Steel company, limited. in conjunction with themselves, and shall in- sist upon the exclusive management by themselves of said business and assets, and shall continue to exclude the plaintiff from his interest in the business and assets of the said firm, that the court will thereupon allow the plaintiff to declare the said firm of the Carnegie Steel co' 1any, limited, dissolved, and appoint receiver to take charge of all business and assets of the said firm permitting said receiver to fulfill unperformed contracts, and to do wha tever shall be necessary in and about the proper liquidation of it's affairs; and that after the conversion of the entire assets of the company into money and the payment of the debts of the said company the court will then distribute the balance thereof among the partners in proportion to their interests.
  negie and the plaintiff whereby Carnegie shall be charged with all the losses, ex- penses and damage he has caused by his Illegal and fraudulent conduct; and that if Carnegie persists in his said fraudulent scheme and refuses offers hereinbefore made, and thus cause the actual dissolution of the firm, all losses incurred by the plain tiff by reason of said dissolution and forced winding up of the firms shall be charged against him, and that he shall be decreed to make good and pay to the plaintiff the diff ference between what his interest was fair ly worth on about February l. 1900, and the amount he shall receive through the decree of this court in final liquidation and settlement of the said firm. The bill In equity Is quite lengthy and is summarized by Willis Cook, Esq, counsel for Mr.. Prick as follows:
 Summary Of the c ise
 "In 1892 there were two limited partner ships:
 .'Flrst-Called Carnegie Bros. & Co.,. limit ed, with a capital of $5,O00,000, which made steel rails and owned only the Edgar Thompson Steel Rail company in Braddock township; and
 "Second-Called Carnegie Phipps, limit ed, with capital of s5.oo0.OOo. which made all kinds of steel plates, structural mater ial iron forgings, made the material for and built bridges, made armor plates and made material for the same"
 This latter firm owned the upper and low CT mills in Pittsburg; the expensive Home stead mills at Homestead; the Keystone bridge works in Pittsburg; the armor plate mills near Homestead; the Hartman steel works in Beaver county and other prop critics.
 Carnegie owned over 50 per cent. of each of the old firms and he, with Prick. Phipps and others, owning interests in each, form- ed, in 1892. what constituted a new partner ship called the Carnegie Steel company, limited. In this Carnegie retained over 50 per cent, and now has 5S12 per cent, while Trick has per cent. Both old firms were merged into the new which had a capital of S25 O00, 900 and operated all the old works. This new firm was under the immediate care and supervision of Prick, as chairman from 1892 to December g. 1899. It greatly enlarged the capacity of it's different works. enlarged their outputs and purchased other plants ore mines. etc.
 Carnegie lived in New York, but passed much of his time abroad, remaining at one time for eighteen consecutive months He did not pretend to manage the current busl- ness. although he was consulted as to im- portant matters. The business from 1892 to