The times., 1901-03-14
CARNEGIES ROYAL GIFTS.
4 Pension Fund of S4.OOO.ooO for
His Employees

thing except libraries and church organs.
In his latest benefac:ion he donates
s. 100000 to an unusual purposes 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 hos
pital for the employees hurt at the Car
negit works. although the company has
always paid for the care of it's wounded
at 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 u. 1901.
ITO the President and Managers the
Carnegie Company;
."GentIemen-Mr. Franks, my cashier.
will hand over TO you, upon your accept
ance of the trust. $4,000 900 of the Car
negie Company bonds, in trust, for the
following purposes:
The income of S1.000.C coo to be spent in
maintaining the libraries built by me in
Braddock. Homestead and Duquesne, l
have been giving the interest Of S250VO
to each of these libraries hitherto, and
this will give a revenue of $4,000 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 time than Du-
quesne. but leave It to you to distribute
the funds from time to time according to
the work done or needed.
ne
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 it's 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
creditabIe 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 S200,000 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 a 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,
through no fault of their own. some pro-
vision against want. as long needed, or
until young children can become self-sup-
porting.
Your president and myself have been
conferring for some time past as TO the
possibility of introducing pension and
beneficial system to which employees con-
tribute. resembling that so admirably es-
| tablished by the Pennsylvania and Balti-
more and Ohio railroads. We find it
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
| it's distribution. shall be published in two
| papers in Pfttsburg, and copies posted
! freely at the several works, that every
/ emplOye may know what is being done.
Publicity in this manner Will, / am 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
| uted so greatly to my success. l hope
| the cordial relations which exist between
| 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 d 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
| retiring from business when an oppor-
| tunity presented itself, and yet, and yet,
| when | write. my heart is fun, l have
| enjoyed so much my connection with
| working foremen, clerks. superintend-
] entS partners, and all other classes that
! it is a great wrench, indeed, to say fare
well. Happily. there is no real farewell
in one sense, because, although no longer
an employer, l am still and always must
be friend. deeply interested in the hap
piness of all whom it has been my good
fortune to know and work in sympathy
with for so many happy years: Always
truly yours, ANDREW CARNEGIE
Within the last two years Mr. Carnegie
| has pledged himself to give from 5000
| 600 to s.. 600. 600 outright for the extension
| of the Carnegie Institute, of PittSburg-
Mr. Carnegie's second letter reads:
New York. March Z. 1901
TO the Good People of Pittsburg:
An opportunity to retire from busi-
ness came to me unsOught, which / con
sidered it my duty to accept. My resolve
was made in youth to retire before old
age. From what / have seen around me,
cannot doubt the wisdom of this course.
although the change is great. even Sc
riCus. and seldom brings the happiness
expected. But this is because so many,
having abundance To retire upon, have
so little TO retire to.
The fathers in oiden days taught that
a man should have time before the end
of his career for the making of his soul
| have always felt that old age should
he spent not, as the Scotch say, IN max
ing mickle mair' but in making good
use of what has been acquired. and l
hope my friends Of Pittsburg Will approve
I Of my action in retiring while still IN full
health and VigOr, and l can reasonably
expect many years for usefulness IN
fields which have other than personal
aims
from business associations and employees
is indeed keen, associates who are at once
the best of partners and the best or
friends; employees who are not only the
best of workmen, but the most SelI-re-
specting body of men which the world has
to show. of this | am well assured, ana
very proud. But the separation, even
from a business point of view. Is not absO-
lutte since my capital remains in Pitts
btlr.. as before and indeed, ] am now in
tereSted in more mills there than ever,
and depend upon Pittsburg as hitherto Tor
my revenue.
Il shall have more time now To devote
to the Institute and to the IechnlcaI
School which are in the higher domain or
pittsburg'S life. and these ! have long
s.,.,, "a ne my chief work. the field In