The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-08-19
SCAWAB TO RESUME.
After a Years Rest Will Return
to Steel Combine.

New York, Aug. 19.-Charles NJ.
Schwab. ex-president of the United
States Steel Corporation. and now rest
ing at Atlantic City on the order of his
physicians, now declares that his re-
tirement from the billion-dollar combine
was only temporary, and that he fully
expected to take up the reins at the ex-
piration of a year.
He said, also, that he had been vast
ly benefited by the change from the
city to the seashore, and could already
feel the beginning of Transformation
in his general physical condition.
He expectr, to remain in Atlantic City
a month Ion Ser. at which time he will
either return to this city for a brief
period or will make a tour OF the United
States, probably going as far south as
the City of Mexico in the late autumn
or early winter
tending to the little business that can
not be transacted by his assistants is
his daily regime for u hours, the re-
manning u hours being spent in sleep.
Yes" laughed the steel magnate, L
am told that l do not resemble an in
valid much. But appearances are some-
times deceptive. The only excuse L can
offer for many nisconstructions put
upon my retirement from the United
States Steel Corporation is my outward
" healthy appearance. / have stated be-
fore that the seat of my temporary all
ment is in the nerves. Nervous disor-
4tISs my DHySlCldlS say SGlQOHl al
feet the general appearance of one"
Mr.. Schwab. there have been state
ments made in financial quarters that
the recent depression in Wall street
sounded the knell of industrial combina-
lions of the Steel Corporation caliber,
as an instance"
I have noticed one or two such state
ments." said Mr.. Schwab, but they
are almost too absurd to refute. In
dustrial combinations have come by a
natural process of evolution. They were
inevitable. Further, in my opinion, af-
ter considering the question from sew
eral standpoints. besides that OF an in
terested party, they have come to stay,
all statements to the contrary notwith-
standing.
so long as the people at large are
receiving tangible benefits from combi-
nations of capital and of labor, and so
long as persons financially interested in
them as investors are satisfied with the
returns there Will be no kneu or indus
trial combinations sounded
when, by merging six or eight or
dozen smaller companies into one large
company, it's promoters and conduct
ors are able to benefit by interchange
such as transferring orders from one
overpressed concern to another whose
men are idIe-additional labor is given
and additional wages paid, besides the
customer having his order filled on
time, is there any reason that COM
merce should retrOgrade instead of
masses of the people study industrial
combinations the more they will realize
that they are receiving direct benefits.
Il speak from the standpoint of one
who has been in the ranks and knows
just what the laboring classes have to
contend with.
But the American workman has no
equal in the world so far as intelli-
gence and fundamental fair mindedness
go, ard If given time he will work this
problem out for himself"
And Wall street,"
Cannot make or break such a move
ment. The recent financial furry had,
in my mind. absolutely no direct bear
ing one way or the other on the case.
1t was a temporary depression, and
may have been occasioned by adroit
financiering The general public did