Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-25

ter care of the property than he would
otherwise be likely to do.
The investment has been a profitable one.
The stockholders have received per cent
dividends since the first year. and there y
a surplus of S33.371 in the treasury which
will be used in buying more lots and erect-
ing more houses of the same sort
Mr. Phfpps has taken great personal
interest in the scheme of his society in
New York. and If it proves successful he
is likely to increase the fund and induce
others to join with him In the Improvement
of the housing of the working people or
this city The S1,O00,OO0 he has given in
trust will continue to grow. At per cent
money doubles at compound interest every
eighteen years. If all goes well the Phipps
house fund will amount to $b4,oOOtoOO at the
end of the century.
Career of Henry Phipps.
Mr.. Phipps is also deeply interested IN
the researches for remedies for tubercu-
losis. He is maintaining an institute at
Philadelphia for that purpose, with a hos
pital In the mountains of Pennsylvania
near Mauch Chunk. He was born in Phila-
deiphia but made his money In Pittsburg
and has done great deal in both those
cities for the class of working people from
which he sprang. His father was snoe-
maker; his mother was a frugal, nigh
istics he inherits. The family removed to
Pittsburg when Mr.. Phipps was twelve
years old and he soon after secured po-
stion errand boy at wages of 80 dollars
a month. This offered no prospects, so ne
advertised for a situation and received a
reply from Dilworth & Bidwell, iron work.
ers, which he accepted, although 1t was
necessary for him to walk three miles 10
the forge in the morning and the same dis
lance back at night But he learned the
business, and soon had an opportunity to
set up for himself with a blacksmith nam
ed Kleman for partner. Later Thomas
NJ No. ,o-r;o 4P A,,Ir aTxy
Carnegie, went in with them. Andrew, in
the meantime, was working at his tele-
graph key and saving his money, and two
years after he bought an interest in the
a stock company that was organized. The
remaining 60 per cent was divided between
Phipps Kleman and Tom Carnegie.
That was the beginning of the company
which has turned out so many millionares.
The share of Mr.. Phipps in the business
was handling the money; he acted as cash
Ter and looked after the finances; Andrew
Carnegie hustled around for contracts, as
sisted by his brother Tom; and Kleman
acted as foreman, looking after the me-
chanical part of the business. 1t was a
strong combination and developed rapidly.
For forty years Mr.. Phipps was actively
engaged in the financial management of the
concern, but when the trust was formed he
withdrew and has since been enjoying we'll
earned leisure. He spent two years in
Washington, where he rented house, but
decided to make his permanent nome IN
New York and is now building a beautiful
mansion of white marble at the corner of
9TH avenue and SIth street which will cost
about a million dollars. The house will not
be finished for a year more. In the
meantime the family are living al No. q
S7th street and spend their summers at
Beaufort Castle, Scotland
Mr.. John S. Phipps, his son. looks after
his fathers business. The eldest daughter
is the wife of Mr. Bradley Martin, jr, and
phjnnS tn
Frederick Guest, a cousin of the Duke Of
Marlborough, at Beaufort Castle in June.