El Paso daily herald. (El Paso, Tex.) 1881-1901, 1901-03-26

the ONLY nan under it's roof who knows
everything that is going on there.
1t was after some weeks of appar-
emily aimless wandering about his Of
fees HI Mr.. Morgan called his part
ners together and told them that he
had bought the New York and North
| ern railroad, and had sold it to the
New York Central n Hudson River
railroad company at a profit that would
seem to almost any firm in Wall street
satisfactory pay for a years labor. Up
to that moment not n Of his partners
| had known of the transaction. But
nearly every one of them had done
something. at Mr.. Morgan's direction,
toward bringing the matter to a sue
| cessfu1 conclusion. They had known
! that some business of Importance had
absorbed him even more than usual.
One perhaps had bought a block of
stock; another perhaps had executed a
masking movement on the floor Of the
stock exchange. and another had pre-
pared an. opinion on some point in
railroad law: but all these things had
been done as in the regular progress
OF the firms business. The shaping
of these tasks into the consummation
OF the particular business in hand had
been the work Of Mr.. Morgan himself.
Such a method does not imply dis
trust of his s~ubordinates and col
leagues; nothing could be further from
the truth. To a man who knows ex-
actly what he wants to do. and exactly
how he wants 1t done. nothing can be
more satisfactory than the knowledge
that his orders are being carried out
literally by men whose responsibility
is limited to their own part of the
work. who are not affected in THAT
they do by any ~misgivings or hopes
about the eliminating achievement; he
wants no suggestions and he wants no
criticisms: he knows.
From the days in 1869. when he
drove the buccaneers, Gould and Fisk,
from the disabled Albany and Sus-
~quehanna railroad and made it again
a self~-sustaining property, Mr.. Morgan
has been a rebuilder and never a
wrecker. When his hand has been laid
upon a railroad useless expenses have
dropped from the accounts, better train
service for shippers of freight and for
passengers has been arranged. the dan
ger of accidents has been leSsened. and
useless competition with other rail-
roads has been eliminated. OF late it
has been as a peacemaker between
quarrelsome neighbors that he has
been prominently working. 1t has al
ways been n of his methods of re-
storing and promoting prosperity
whether in railroad or in other inter-
ests.
When Mr.. Morgan walks down the
steps of his bank building in the after
noon, he usually leaves his Office be-
hind him. He is said to be as impa-
tient with those who try to carry BUSH
ness affairs to him at other times as
he is with those who bring other af-
fairs than business into his Office. His
friends know him as a man of the
most generous impulses and of tactful
thoughtfulness in carrying them out.
The magazine devotes a brief space
to Charles Schwab. the man who, at
thirty nine. is drawing a salary of ST.
OO0. 900 a year from the steel combine.
simply because he earns it. Again We
condense and reprint.
At eighteen he had finished his
course, and must earn a living. He
could find no task exactly to his lik-
ing. His people were poor, and he took
the first thing at hand,-a clerkship in
& country grocery at Braddock. A few
months had passed. when n day Mr..
Jones. of the Edgar Thomson . Steel
Works. happened into the store. and
the boy behind the counter surprised
him by asking for a place.
In six months he was chief of the
Cd gineering corps with which he had
begun work. Then it was hat he ceas-
cd being Charlie" and became Mr..
Schwab. From that time his story is
an exceedinly simple one.-as all great
things are simple
There were blast furnaces to be on
cfrrrcfod and ha unorinfanda tho
work. The railmill department must
be enlarged: he enlarged it until it had
the largest output in the world. Com
petition was close. there must be econ
omy in production. and he made i'm
provements which sent the Pittsburg
product all over the world. and. with
the late Captain w. r. Jones. develop
ed the famous metal mixer" which
reduced costs to a minimum. In 1887
the Homestead Steel works needed a
new superintendent. and Mr.. Schwab
took h place. Reconstruction was
needed. and he made the plant the
largest of it's sort in the world. The
United States wanted armor plate. and
after long experiment and over many
obstacles, he gave it to them. Captain
Jones died in 1889. and Mr.. Schwab
went back to the Edgar Thomson
works as superintendent. only to take
control of both the Homestead and
Thomson works in 1892. Mr.. Carnegie.
finding. as he said "a young genius
soon made him a partner. The young
man had worked and learned and bided
him time. In 1896 he became its pres
ident, being preferred by Mr.. Carnegie
to an older official. when it became a
matter of choice; and now hat Mr..
Carnegie has stepped out and h great
er steel company has been cosummated.
Mr.. Schwab is its president and active
head. And so the boy became the man