Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-08-08
.BAR[S STEEL SECRETS.
Wall Street Much Interested In
a Book Giving History Oh
Carnegie Company
1T CAUSES GREAT SENSATION
Story of Big Profits Made by Methods
Not in Accordance With the Golden
RuIe-Frick Given Much Credit for
Work in Building Up the Great In
dustry.

New York. Aug. S.-"No great bust
ness has yet been built upon the beat
itudes, and it is not all cynicism which
condenses the negative decalogue into
the positive exhortation to be success
ful-somehow.'"
The above is from the introduction
prepared for the History of the Car
negie Steel Company" by its author,
James Howard Bridge. The work is in
the most elaborate style, and has just
been brought out for private circula-
ton. II it is labor of love, it is made
certain that Andrew Carnegie Is not the
sole object Of Mr. Bridges affections.
Turnout the 370 octave pages the
theme runs along without vnriation-
BE successful somehow'-and in its
application to Mr.. Carnegie some ex-
ctGdingly pleasant material is pre-
sented. The action of the iron master
towards his associates, particularly II.
C. Frick. thru whom, as the work says.
closes some curious ideas of business
morality.
Wall street experienced O veritable
sensation upon the appearance OF Mr..
Bridges book, copies OF which appeared
on the tables in the banks and bankers
offices from quarters unknown. 1t Is
book which must have cost thousands
Of dollars to prepare. 1t Is full levant,
morocco bound, made on beautiful Jap
anese paper, and copiously Illustrated
with photogravure plates, all in the
highest style of the printers art. The
first edition is said to have been lin
tied to fifty copies at 500 each, and
the second edition de luxe to 400 copies
at s25 each.
To find such rare and beautiful books,
in some cases donations, surprised even
the Wall street bankers. Tie surprise
It's pages the readers found tlll sorts OF
sensations staring them in the face The
innermost secrets of the Carnegie steer
Company stand revealed to the light Oh
day. Every detail of the bitter quarrel
between Carnegie On the one hand and
Henry Phipps and II. c. Frick on the
other, is spread out for public view
backed by documentary evidence, cop
les of confidential documents on trade
secrets, the cost of production and the
like.
Enormous Profits.
In 'sThe History of the Carnegie Steel
Company one may read Sehwap %
statement that steel rails could be pro"
duced for sly a ton az q time thes.
were costing the consumer SIS. Here,
indeed, 1t would appear mas been forget
u weapon which may have deadly ed'.
feet when placed in tbs hands OF the
opponents of the tariff protected
trusts" One may read of the division
Cf profits running as high as IS per
cent to the members of the Carnegie
association.
Bridge, the author Of the book. once
was private secretary to MI. Carnegit.
That he writes with strong bias an
pears evident even in the introduction
when in telling of his search for mate
rial he says: II found Andrew Carnc-
gie's own narrative the least trust
worthy of ALL
He follows this UP with the dedica-
ton: ITO recall their forgotten sern-
ices, this history of great business is
dedicated to the memory Of the men
who founded it. saved 1t from early dis
aster. and won its first successes" An
drew Carnegie's name is rot included
in the list.
History Traced.
Bridges history Of the Carnegie conl-
pany dates back to 1858, when Andrew
KIoman started small for1se at Girty's
run, in Millvale, Duquesne borough
Allegheny. and traces the company sttr
by step down to the time when II
passed into the United States Steel
Corporation. Altho the early portion
of the history is OF absorbing interest
the later day developments attracted
the attention of the men fortunate
enough to possess a copy OF the edition
de luxe. AS to the growth of the COM
pany's earnings in later years and un-
til that preceding its absorption, the
following is given:
met profits of Carnegie associations
Carnegie Bros. & Co., Limited (to 1880
Carnegie, Phipps & Co.. Limited ttc
1899, and the Carnegie Steel Company
United (frorn July 1922: