The Providence news. (Providence [R.I.]) 1891-1906, 1902-08-18
SCHWAB
MUST
Retire
Condition Such That President Of
US. Steel Co. Is Compelled to
Give Up Active Business.

Pittsburg. Aug. ia Loretto. Pa, spe-
cial says:
President Charles NJ 6chwab, of the Y.
8. Steel Corporation has accepted the ad-
vice OF physicians and decided to retire
indefinitely from an active business life.
He will leave America to seek some quiet
nook In a foreign CLINE. where not an
echo of the strenuous life he has led can
reach him.
This information IL authentic. DIR. Co
den never leaves the 6chwab home and
the exact nature of his patients illness
cannot be learned through him.
Mr.. schwab is not confined TO his bed
but spends much of his time on the wide
veranda which affords fresh air and a
sweeping view Of the mountain slope He
is always with his wife or his parents.
The strange part OF Mr.. Schwab's ILL
ness 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 was greeted with a hearty welcome
and q vigorous handshake. Now the Wis
itor 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 Pres
ident schwab since he came back to his
home.
The correspondent then says: 1.-THE
people OF this town who stil call him
Charlie because OF their early and In
innate acquaintance with him. are dis
cussing his prospective departure They
know he Is a sick man and are relieved
that he will spend possibly year In an
effort to regain his health.
The presence Of sisters belonging 10
the order OF mercy In his home day and
plight since Thursday was another indica-
ton OF illness. The nuns were not vlsi-
tors, but II Is generally known that they
are nursing the man who has SO many
times befriended them and their inst'ta-
tions.
The knowledge of the people Of Lorst
to Is that Mr. Schwab is going away
somewhere His destination will De Kept
a secret and ne viii do nothing but seek
health until his nerves have been restored
TO their normal condition and his mind
fully relieved Of the great strain result
Ing from so many business cares.
TT was after learning that his heaitn
was very bad and that he intended 70
l passed Into the grounds leading to the
pastIs aS%s ssSssS Oh i ssd 8Sat her
would not see any persons and had not
been receiving visitors for severpi days,, dys,,,
Mr.. Schwab sat on q couch wtniE nn
fore his eyes. He exhibited no interest
and made no attempt 70 move. a ,.v.
Business associates. Is snr,ng Sa,a; htse tse
last two days. Mr.. Schwab has been Oh
rected by his doctors 70 rd MS mlno OF
ell business cares. and he Is ooeying the
order religiously. .,
nn nnSyy Naive a%oRs sSs P%R the he
fully oorroborated the stories that ne IN
tends to retire from active business me
Es Snds sSs aiea States eeP sese
person other than himself
COMMONLY ACCEPTED.
New York. Aug. B;-The retirement OF
OF the United States steel corporation Is
now commonly accepted es dssermined
upon. Notwithstanding recent official de,
nnar,ess n,als nnd to prsssr poonfarm @ the report.
President Schwabs impaired health Is
the reason for this action; In well In
foymed quarters IL is believed tnat ms
changes In the membership OF the olrgani-
satio1 The succession 70 the presidency
Is a matter Of surmise only. and II u mas
been decided no Information can be mac
sitions OF Importance in the Unlted states
Steel corporation now held by persons
who are there on account OF personal ties
the the" CORPORATION or. from a devotion to bis
interests, growing from former assoeia-
tion In the Carnegie company. IL has
been reported that the presidency would
pres sident OF the corporation: Other ru-
mors have pointed 20 II. G. Frick.