The Minneapolis journal., 1901-05-27
Minneapolis Journals Current Topic Series.
National Reputation

does not believe in luck or chance. 'The
man you hear say he never had chance
lacks something" said Mr.. Schwab recently.
He lacks that indehable something that
stands for success and If you look far enough
you'll find that something is capacity and
disposition for hard work. The only luck I
ever had was to be born with good mental
powers and good physical constitution that
thrived on the hardest kind of work. l had
enough hardships and trials. / would not
give up the experience of a boyhood barren
of luxuries and paved with obstacles for any
amount of money. There are just as good
chances for boys now as there ever were.
In fact there are more chances We are
frequently unable to get one 1t isn't the
man who watches the clock that gets along
nor is it the man who always seems to be
busy yet never does anything.
Has u FOndness for Brass Bands.
Mr. Schwab is a good musician, and in his
younger days was a member of country
band. When he became prominent at Home-
stead and rBaddock he had bands organized,
paying for uniforms, instruments and
instructors. He thinks there is nothing SO
beneficial to a mill town as to have good
brass band. Several years ago band
was organized at Loretto and Mr.. Sehwab
was elected a member. He accepted the
membership and sent a check for dues that
bought new uniforms and the best instru-
ments.
When the Carnegie business was reor-
ganized year ago and the Carnegie COM
pany was formed with capital stock OF
$16O, O,00O,O 900 Mr.. Schwab's name was second
on the list of subscribers to the stock. The
charter showed that he owned 1929 shares.
The par value of share Of stock IS 81, 900
was worth at par. SIS, ,929, 900. AS each share
of stock carries with it a bond for $1,000, Mr..
Schwab's holdings were worth at par $37,-
1858 OOO This stock is now being exchanged
for stock in the United States Steel cor
portation on basis of $500 for each 81, 900
share.
Some Acts of Philanthropy.
Mr. Schwab is liberal and unostentatious
giver He is building a Catholic church in
the village of Loretto, which for its size will
be one of the finest in this country. It is to
be memorial to his mother. Instead of
spending on it $4,000, which is the sum that
the Rev. Ferdinand Kittel, the priest,
thought it would cost, Mr.. Schwab will spend
for it's construction about $25O,OO0. The
church will be consecrated this summer. He
is also making improvements to st. Thomas
church in Braddock that will cost $25, 900.
There were moist eyes among the men Of
Braddock the day that Mr.. Schwab made
the rounds of the mills to say farewell He
He had just resigned the office of president OF
the Carnegie company. To one old man, who
was i'll with a dangerous malady, he gave
$500 in gold, telling him to go for treatment
to a specialist in New York and assuring
him that his pay would continue as long as
he was away. Another of the men, who had
5-trr zfa1ya NOS
also remembered. He had been Ill and had
| many troubles. He was given $1,000 ''tn
memory Of the old days
Mr. schwab and his wife lived at Brad
| dock until a year or so ago, when they pur-
| chased the old Candergrift mansion in Pitts
| burg for SITS, 900. His Pittsburg home is filed
| with rare art treasures. In the summer Mr..
and Mrs. Schwab go to their summer home,
| Immergrun, at Loretto