Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1901-02-20
CARNEG BINTv0lIsCE.
Viii Give q Million a Month for Libraries
and 0rlans.
[St, Louis Republic.l

tSt. Louis Republic.l
81 calculate II million u month for
libraries ana organs"
This IL what Andrew Carnegie il
telling his friends. 1t Is his way of
expressing his intention to devote to
public beneiactions the major part
OF the great Income upon which he Is
to retire. lie will be in n position TO
give away $4,000 ,O00 ayear-en0ugh
to provide for the living expenses OF
n fair-siZei city-Ind Hlill have
enough to keep the wolf Il consider
able distance AWAY from The front
door oi No. > West Fiity-first street.
From authoritative sources it VAS
a%sccrtained today the cXnct nature
of the compensation which the j. l..
Morgan interests are To give MIR.
Carnegie for the control Of the Cur
ncgie company and the amount of
the yearly income upon which he
reckous from this and other invest
meuts. Ii was also asccrtained that
the present expectation II the pro-
iccted giant steel trust Is 10 establish
not simply Il harmonious working
agreement, bat II huge corporation.
The bogy OF popular hostility to
trusts having been tossed aside as
iusivuilrant, thr practical problem
OF IN mriag AIR dead is proving capu-
BIZ ui solution.
sir. Carnegie expects 10 struggle
along for the rest Of his days on Si5,-
0U9, 900 II year. lie Is 90 br paid for
his stock in the Carnegie company
entirely In bDals-probHbly II col.
lateral trust bond secured upon the
assets Of Il new aud formidable cor
poratiOn, whose president will be in
thu hands Of n representative cXecu-
tive committee. He il known to
possess not only Carnegie company
bonds aud Carnegie company stock,
but other pieces of paper which are
worth n great deal To the holder.
The $l5,OOO, 900 will represent the re-
turns from all these Investments.
For instance, Mr.. Carnegie, his
friends say, invested : . 1900, 900 Of idle
cash In one of the British war loans
which proved 80 acceptable to Amer
leans. What his income from these
outside sources amounts to IL, of
course, II matter OF conjecture. Wall
street heard a story the other day
that Mr.. Carnegie walked into IA
banking house, asked for a list of
hlgh-grade investments, figured a bit
on the margin OF the paper on which
that list was printed and then
bought the whole list.
Mr.. Carnegie will retain his Car
negie company bonds, which approx
innate 800, 900. 900 in value. At ) per
cent they pay him pretty close to
$4,000. 900 per year. His stock will be
paid for, according to present plans,
from n new issue Of > per cent bonds.
The amount OF these bonds, as
nearly ns IL could he learned today,
will be about $50, 0OO, 900, 50 that Mr..
Carnegie must expect to get about
S2,5O0, 900 from sources outside of tho
steel trade TO realize his expected in.
come OF SlJ. 900, 600.
Tint Mr., Carnegie will devote four
liiihs OF his income tn such public
gifts rs the founding Of libraries ana
presenting organs to communities %
musical disposition IL only To b,
demonstrated, of course, by future
events, but the fact il that he hn,
expressed himself recently as expect
ing tu spend about million montl
for public bcneiactiOn.
- ~ NrafNs- " III