Evening star., 1902-08-18
{. N. SCHWAB RET|RES
President of Steel Trust in
III Health.
DECLINES INTERVIEWS
REPORT THAT HE WILL GO TO
EUROPE.
Will Locate in Some Quiet, Obscure
Spot and Seek to Regain
Health.
DECLINES INTERVIEWS

PITTSBURG, Pa, August 1S.-A Loretto
Pa. special to the Pittsburg Dispatch says:
President Charles NJ. Schwab of the
United States Steel Corporation has ac
cepted the advice of physicians and decided
to retire Indefinitely from an active busi-
ness life. He will leave America to seek
some quiet nook in foreign cline, where
not echo Of the strenuous life he has
led can reach him. This information is
authentic
Dr. Golden never leaves the schwab home.
and the exact nature of his patients illness
cannot be learned through him
Mr.. Schwab is not confined to his I'D,
but spends much of his time on the wide
veranda, which affords fresh air and
sweeping view of the mountain slope. He
is always with his wife his parents.
The strange part of Mr.. Schwab's illness
is that he is always within view of those
who call at his house yet he will not allow
any person to approach him. Heretofore
the visitor to the Schwab home
greeted with a hearty welcome and Wig
orous handshake. Now the visitor is met
at the entrance and told that Mr.. Schwab
cannot be seen. Intimates of the family
receive the same message and none has
been able to converse with President
Schwab since he came back to his home
May Stay Abroad Year.
The correspondent then says: THE peo-
pie of this town, who still call him Charlie
because of their early and intimate ac-
quaintance with him, are discussing his
prospective departure. They know he is a
sick man and are relieved that he will spend
possibly a year in an effort to regain his
health.
..The presence of sisters belonging to the
Order of Mercy in his home day and night
since Thursday was another indication of
illness. The nuns were not visitors, but 1t
is generally known that they nursing
the man who has many times befriended
them and their institutions.
The knowledge of the people of Loretto
is that Mr.. Schwab is going away some
where. His destination will be kept Sc
cret and he will do nothing but seek health
until his nerves have been restored to their
normal condition, and his mind fully re-
lieved of the great strain resulting from
many business cares.
1T was after learning that his health was
very bad and that he intended to devote a
years time to recuperating that / passed
into the grounds leading to the palatial
home on the mountain top.
Mrs Schwab's Statement.
Mrs. Schwab said that her husband
would not any person and had not been
receiving visitors for several days.
Mr.. Schwab sat on a couch within hear
ing of voices. A paper was before his
eyes. He exhibited no interest and made
Business associates, it is said, have net
with a similar reception during the past
two days. Mr.. Schwab has been directed
by his doctors to rid his mind of all bus-
ness cares and he is obeying the orders re-
ligiously.
Inquiry among the people of the town
who have conversed with the SchwabS fully
corroborated the stories that he intends to
retire from active business life. His friends,
however. deny that if he leaves the United
States Steel Corporation it will be at the
dictation of any person other than him
self"
The News in New York.
NEW YORK, August 1S.-The retirement
of Charles M. Schwab from the presidency
of the United States Steel Corporation is
now commonly accepted determined
upon, Notwithstanding recent official de-
malls and present reluctance in official quar-
ters to confirm the report. President
Schwab's impaired health is the reason for
this action. In well-informed quarters it
is believed that his retirement will be fol-
lowed by extensive changes in the member
ship of the organization. The succession
t the presidency is a matter of surmise
only, and if it has been decided no infor-
nation can be had on the subject But there
are many positions of Importance in the
United States Steel Corporation now held
by persons who are there on account of
personal ties with Mr. Schwab and who re-
mained with the corporation from a devo-
tion to his interests, growing from former
association in the Carnegie company.
1t has been reported that the presidency
would pass to James Gayley, the first vice
president of the corporation. Other rumors