The Butler weekly times. (Butler, Mo.) 1881-1918, 1901-03-21
MR.. CARNEGIE'S
GREATEST GIFT.
A S4,OOO,OO0 Pension fund
is Established for His ST.
peranuated EMPLOYEES.
100000 FOR LIBRARIES.
The Two Funds are Secured by BONDS
in the Carnegie Company.
HIS TWO FAREWELL LETTERS

made arrangements for II S4,DOo,-
900 fund for superanuated ana
disabled employees OF the Carnegie
comnanv He also gave 81 600, 900
for established libraries MAINTAIN
-anca This was officially announced
by the making public Of two letters
from Mr.. Carnegie. The pension
fund il entirely independent OF the
savings fund esta blished by the com
panv / > years ago which now con
tains $4,000, 900 of the employees
money on deposit and draws SIX per
cent from tie company.
The first OF Mr. Carnegie's letters
is addressed ITO the Good People OF
Pittsburg 1t tells of an unsought
chance for the retirement from busl-
ness having come to him and having
been accepted. He regrets the sever
ing of the business ties and tells OF
his future intentions of doing good
with his wealth.
"Pittsburg entered the core OF my
heart when | was boy and cannot
be torn out. | can never be one
hairs breadth less loyal to her, or
less anxious to help her in any way,
than | have been since | could help
anything.
MY treasure is still with you; my
heart is still with you and how best
to serve Pittsburg is the question
which recurs to me almost every day
of my lifs."
GIFT WITHOUT PARALLEL.
In his second letter the steel king
turns over $5,OOO,OOO in Carnegie
company bonds and provides for the
uses of what is probably the greatest
gift in the worlds history. The letter
follows:
''To the President and Managers the
Carnegie Company.
conference.-the. Franks, my cash
Ter, will hand over oyou, upon your
acceptance of the trust, $4,000, 900
of the Carnegie company bonds, in
trust, for the following purposes:
The income of $1,O0O,OO0 to be
spent in maintaining the libraries
built by me in Braddock, Homestead
and Duquense. | have been giving
the interest of $25O,OOO to each Of
these libraries hitherto, and this will
give a revenue of $4,000 hereafter
for the three. The income of the
81 10000 is to be applied:
First-To provide for employees of
the Carnegie company in all OF it's
works, mines, railways, shops, etc,
injured in it's service and for those
upon such employees as
are killed.
Second-To provide small pensions
or aids to such employees as, after
long and creditable service, through |
exceptional circumstances need such |
help in their old age, and who will
make a good use OF it. Should these
uses not require all of the revenue,
and a surplus of 100000 be left
after ten years operation, then, for
oil over this, workmen in mills other
than the Carnegie Company in Allie
gheny county shall become eligible
for participation in the fund, the
mills nearest the Carnegie steel COM
pany being the first embraced.
This fund is not to be used as a
for what the company has
been in the habit of doing in such
cases-far from it. 1t is intended to
go still further and give to the iniur-
ed or their families or to employees
who are needy in old age, through no
fault of their own, some provision
against want as long as needed, or
until young children can become self
supporting.
RAILROADS. PLAN COPIED.
Your president and myself have
been comforting for some time past
as to the possibility of introducing
pension and benfcialsystem to which
employees contribute, resembling that
SO admirably established by the
Pennsylvania and Baltimore & Ohio
railroads. We find it a difficult prob
lem to adjust TO a manufacturing
concern, but should it be solved here
after the trustees have authority to
make this fund the foundation of
such q system.
Each superintendent will report To
The nresident such cases in his a..