The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-14
CARNEGIES ROYAL GIFTS.
4 Pension Fund of 100000 for
His EMPLOYEES.

! thing except libraries and church organc
| In his latest benefaction he donates
100000 to an unusual purpose-a pension
| fund for employees of the Carnegie Com
pany.
Mr.. Carnegie has been criticised by
/ some persons in Pittsburg for building
| only libraries and not establishing a hos
| pital for the employees hurt at the Car
negie works, although the company has
! always paid for the care of it's wounded
az other hospitals. No criticism of this,
his latest gift, is expected
Mr.. Carnegie sailed on the steamship
St Louis today. and tonight his repre-
sentative here gave out two letters one
to the Carnegie Company, the other to
the people of Pittsburg The first reads
as follows:
New York, March - 1901
ITO the President and Managers the
Carnegie Company:
'"Gentlemen-Mr. Franks. my cashier.
will hand over to you, upon your accept
ance of the trust. s5,0O000O of the Car
negie Company bonds, In trust. for the
following purposes:
THE income of s1.oO0C00 to be spent in
maintaining the libraries built by me in
Braddock Homestead. and Duquesne. I
have been giving the interest of $3.50, 900
to each of these libraries hitherto and
this will give revenue of $50. 900 hereafter
for the three. Braddock library is doing
a great deal of work for the neighborhOod,
and requires more than Homestead.
Homestead, on the other hand. will prob
ably require more for a time than Du-
quesue. but leave 1t to you to distribute
the funds from time to time according to
the work done or needed.
"Duquesne's portion can be held until
the library Is opened and then applied
to meet extra costs, If any.
The income of the other 100000 is to
be applied:
'First-To provide for employees of the
Carnegie Company in all its works. mines.
railways, shops. etc, injured in its service
and for those dependent upon such en-
ployes as are killed.
"Second-To provide small pensions or
aids to such employees as, after long and
creditable service, through exceptional cir
cumstances. need such help in their old age
and who make a good use of 1t. Should
these uses not require all the revenue
and a surplus of s200,OoO be left after ten
years operation, then. for all over this,
workingmen in mills other than the Car
negie Company in Allegheny County shall
become eligible for participation in the
fund, the mills nearest the works of the
Carnegie Steel Company being first en-
braCed.
This fund is not Intended to be used
as substitute for what the company has
been in the habit of doing in such cases
1t is intended to go still further and give
to the injured. or their families, or to
families who are needy in old age,
. q, ar,If -
vision against want. as long as needed, or
until young children can become self-sup-
porting.
Your president and myself have been
comforting for some time past as to the
possibility of introducing a pension and
beneficial system to which employees con-
tribute, resembling that so admirably es-
tablshed by the Pennsylvania and Balti-
more and Ohio railroads. We find it a
difficult problem to adjust to manufac-
turing concern, but should it be solved
hereafter, the trustees have authority to
make this fund the foundation of such
a system.
Each superintendent will report such
cases in his department as he thinks
worthy Of aid from the fund. and the
president will report to the directors, with
his recommendation for action.
"A report, to be made at the end of each
year. giving account of the fund and of
its distribution, shall be published in two
papers in Pittsburg, and copies posted !
freely at the several works. that every |
employee may know what is being done |
Publicity in this manner, will, l aus sure, |
have a beneficial effect.
Il make this first use of surplus wealth |
upon retiring from business as an ac-
acknowledgement of the deep debt which | |
owe to the workmen who have contrib I
uted so greatly to my success | hope |
he rptg ict hat.
employers and employed throughout all !
the Carnegie Company works may never |
be disturbed; both employers and en-
ployed remembering what | said in my |
last speech to the men at Homestead: |
Labor. capital. and business ability are /
the legs of a three-legged stool; neither /
is first, neither is second. neither third; /
there is no precedence. all being equally |
necessary. He who would sow discord |
among the three is an enemy of ALL.
Il know that | have done my duty in I
tunity presented itself. and yet. and yet,
when | write. my heart is full. | have
enjoyed SO much my connection with
foremen, clerks. superlntend-
ants, partners, and all other classes that
{ is great wrench, indeed, to say fare
we'll. Happily. there is no real farewell
n one sense because, although no longer !
IN employer, / am still and always must |
De a friend. deeply interested in the hap
,iness of all whom it has been my good
ortune to know and work in sympathy
With for so many happy years: Always
ruly yours, ANDREW CARNEGIE
Within the last two years Mr. Carnegie
las pledged himself to give from $780,
% to 5000 600 outright for the extension
# the Carnegie Institute. of Pittsburg.
Mr.. Carnegie's second letter reads:
New York. March Il. 1901
TO the Good People of Pittsburg:
An opportunity to retire from bust
css came to me unsought, which / con-
idered il my duty to accept. My resolve
vas made in youth to retire before old
ge. From what / have seen around me, | /
annOt doubt the wisdom of this course
Though the change is great, even Sc
iCus. and seldom brings the happiness
expected. But this is because so many
aving abundance to retire upon, have
o little to retire to.
The fathers in olden days taught that
man should have time before the end
I his career for the making of his soul !
have always felt that old age should | !
e spent. not, as the Scotch say. in max
IG micllle mair. but in making good
Sc of what has been acquired. and |
ope my friends of Pittsburg will approve
( my action in retiring while still in full ,
ealth and vigor, and l can reasonably
elds which have other than personal +
inns.
The pain of change and separation !
ON business associations and employees
indeed keen; associates who are at once l
lie best of partners and the best of | S
lends: employees who are not only the 9
EST of workmen. but the most self-re-
,ecting body of men which the world has Y
show. OF this | am well assured and r
Fry proud. But the separation. even il
ON a business point of view. is not abso- q
te, since my capital remains in Pitts II
irg as before and indeed. | am now in s.
rested in more mills there than ever, p
ID depend upon Pittsburg as hitherto for
y revenue. ID
II shall have more time now to devote $,
the Institute and to the Technical e
hool which are in the higher domain of V
ttsburgs life, and these | have long CO
en- to be my chief work. the field in
hich | can do tn. greatest, because the / Il