The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1906-04-13
CARNEGIE-A STUDY.

CARNEGIE-A STUDY.
The trustees of the university in ac-
cepting the gift of thirty thousand
dollars from Andrew Carnegie for the
purpose of erecting library building
are laying the foundation of monu-
ment that to the young men of the
future generations should be as much
of an inspiration to energy and right
ambition as that which stands in the
capitol city in memory of him who
laid the foundations of nation. is to
public purity and lofty patriotism.
In this age of the sensationalist who
cries out against the motives and
character of every man who by the
nse of brains and energy has sur
passed him in the race of life, it is
met to pause for moment and study
the character of the man whose mil
lions have been SO freely used for
ph1lanthroplc purposes.
AS a rule men who have started
from financial zero and in the course
of lifetime. accumulated a fortune
which runs into millions is branded as
public. plunderer. There are cases
where the accusation is just, but those
who would thus stigmatize them sell
dom pause to, analyze the conditions,
nor to take the proper measure of the
man.
Because of these things, even Mr..
Carnegie's gifts have been considered
as somewhat tainted. though this has
found Judgment only in the minds of
those who would rather believe a lie
than the truth.
The splendid library buildings which
dot the country like stars in a mid
summer Sky, are monuments to a man
whose character is worthy the emula-
ton of any young man.
Mr.. Carnegie acquired his vast
wealth which at the time of the FORM
alton of the Carnegie Steel company
in 1901. was fixed at five hundred mil
lion dollars. has been the result of a
business foresight that is SO accurate
that it seems phenomenal.
His first investment, which by the
way was borrowed money, was in the
Woodruff Sleeping Car company, which
he later succeeded in having adopted
on the Pennsylvania Central, While
he held an official position in the COM
pany at the time, the wisdom of the
adoption was proved by the large
dividends which the road secured from
the use of the cars. In fact, Mr.. Car
negie's financial interest was at stake
as much as was that of his enl-
ployer.
The dividends from this source were
invested in oil lands around Pittsburg,
and here was actually laid the founda-
ton of the Carnegie millions.
Investment in oil lands was guess
as to the possibilities, with the chances
OF failure several hundred to one. If
the land proved oil producing money
figuratively flowed from the ground.
II purchance the wells sunk on it
proved clusters" the investor might as
well have lost his money in the river.
Fortune favored Carnegie, and his
Investments proved among the most
productive of the great oil region.
Thousands of dollars were realized
from these investments. but the owner.
never Spectator. realized how un-
certain were the results. and instead
oe again plunging into the uncertain
ties Of oil, and probably losing all. as
thousands of others did. he began
looking about for investments in
which push and energy were the ele-
ments of success rather than the I'M
certain guess of the oil expert
Mr.. Carnegie had been a railroad
man working up from telegraph mes
senger to division superintendent. In
1862 the Pennsylvania railroad with
which he was connected made the ex-
pertinent of changing from wooden to
iron bridges. The experiment was a
Success. and to the alert mind Of the
division superintendent it suggested
the avenue to a colossal fortune.
Thousands of. iron bridges would
supplant the wooden ones already in
use. while the rapid building Of new
roads that was now assured would
make an enormous market in the
/ futare for iron Of that character.
Opportunity had knocked at his door
And he almost. 9wrenched the latch
from It's holdings to let him In.
sIs Organized the Keystone Bridge
eompany and at once embarked on