Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-11-09
MILLION FOR N|)RkEH
Carnegie Rewards Faithful EN-
ployes With Gifts In Com.
pany's Bonds.
they Bear Five Per Cent Annual
Interest and Bring Good
Income.
Sums Amount to From $l.500 to
$4,000 Yearly-.Equals Sal
aries Earned.

Pittsburg, Pa. Nov. 9.--Twenty-
have received within the past week ST.
OCo,o0o in bonds of the Carnegie COM
pany. bearing 5 per cent interest. AS
the latest beneficiaries of Andrew Car
ne2ie's old plan for rewarding faithful
workers of his company receive from
81 500 to $4,000 a year in salaries, and
the bonuses they have received are in
tended to net them at 5 per cent an adj
litional amount equal to their wages, it
can be seen that the gifts range in value
nom $4,000 to $4,000
More than 80 per cent OF Andrew Car
Iegie's partners in the Carnegie COM
pany obtained tneir present large hold
irgs in the company thru gifts of stock,
which became theirs as soon as the
earnings of the stock had paid for it.
The latest donations. however, are in
bonds that instantly begin to bring to
their holders b per cent annual interest,
which they Will pocket.
When the Carnegie Steel company,
limited. was organized under the laws OF
New Jersey into the Carnegie company.
per cent of every partners holdings
" ere set aside as fund from which
stock donations were to be given to de-
serving employees. Original stockholders
Ike Henry Phipps and II C. Frick
joined with the minor stockholders who
lad benefited by this very plan and OBJ
jected TO the setting aside Of any of
their stock for this purpose, but the
amount withdrawn was made up by
Carnegie and other partners.
When the Carnegie company went into
the United States Steel corporation this
fund was exchanged for per cent Car
negie company bonds, guaranteed by the
United States Steel corporation, and it
is out of these bonds that the recent
bonuses were paid.
In addition to the names of the TWEEN
ty-one men given below, Camille Mer-
cader, chief draughtsman of the COM
pany, said to be Hungarian count, got
$4,000 worth of the bonds. He has been
with the Carnegie company sixteen
years and received his gift three months
ago.
The following are names of the TWEEN
ty-one beneficiaries: Thomas Congrove,
superintendent of transportation and
general labor of the Edgar Thomson
steel works and blast furnaces: Thomas
James, chief master mechanic and as
sistant to the superintendent of the Ed
gar Thomson steel works; Edward
White, chief inspector; Thomas Alden
book, superintendent OF obstruction;
Kilien, assistant superintendent
of the Edgar Thomson steel works: He'd
rea Stritchfield. boss heater; John Noey.
of boiler houses; David
Miller, superintendent of the rail and
bloom mills: Charles L. Dinky, assistant
superintendent; John Lewis, assistant
master mechanic of furnaces; George
Niemann. chief patternmaker; Andrew
boss carpenter; George
Drassert, superintendent of furnaces;
oskin, paymaster; G.. T.. T. |
Gray, chief clerk: A. j. Boyle, night
superintendent of the night rail mill; |
George Harris, superintendent of the
mill; Frank Brides, purchasing
agent of machinery; Harry Benn, super
of the converting mill; Censor
McClures, superintendent of the roll |
turning shops: Russell Ross, superin- |
tendent of the Misunderstanding yards I
The bonuses which these men received |
are to equal the amount of their salaries.
which, at per cent. would show that
their gifts range from $4,000 to 100000
In value