Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-26
MAY 60 TO NEW YORK
CARNEGIE TRUST CO. CONSIDER.
ING sHAw's CONDITIONS.

At q meeting of the new Carnegie Trust
Company Of New York in that city today
will be determined the question whether
Secretary Shaw will become the head OF
the institution at large salary. Secretary
Shaw has been offered the position, but he
Is understood to have imposed some rather
sffn conditions as to salary that may or
may not be accepted. Secretary Shaw will
not know until this afternoon what the
trust company will do with his propositions
Personally, he is said to be inclined to the
belief that his conditions will be prohibitive
and that he will not go with the company.
Secretary Shaw will go out Of Office next
Monday, and II he Is elected president Of
the Carnegie Trust Company he will enter
upon the duties of that Office on the morn
ing of March 5, losing no time. George
3. Cortelyou will take the oath of Office as
Secretary Of the Treasury March 4.
Many Offers Received.
There has for some time been doubt as to
the business future Of Secretary Shaw. He
has had number Of offers from New York
as well as from the west. He has never
liked the idea of living In the big metrop-
oils, however. preferring the freedom and
independence Of the west. The New York
oners have all been Of very tempting
nature, the last one especially SO. If this
return to his Iowa home and resume his
banking and law practice there. There is
possibility that he will identity himself
with large banking concern in Omaha,
as that city is not far from his home town
OF Denison, Iowa, and he might be able to
arrange matters SO that he could attend
to the affairs of banking institutions in both
places.
Secretary Shaw came to Washington
from the gubernatorial chair Of Iowa. He
was elected governor of that state in 1897
and again in 1893, peremptorily declining
third term to return to business in his home
town. 1t was just as he was closing his
second term that PRESIDENT Roosevelt Of
Tered him the treasury portfolio, to take the
place Of Lyman J. Gage, who was going
out of office. Mr.. Shaw entered upon the
duties February 1. 1902, and when he re-
tires next Monday he Will have served
over five years.
Secretary Shaw is still regarded as a re-
ceptive candidate for the nomination of his
party for the presidency next year. If he
should go to New York, as is now possible,
he would lose touch, more or less, with
political affairs in the -7est, upon which he
depends to a large extent for his presden-
tial strength.
shaw's Acceptance Reported.
A special dispatch to The Star from New
York says:
Secretary of the Treasury Shaw has
accepted the offer of the Carnegie Trust
SohPdHy VI ILLS CITY 10 become It's neaQ,
and will assume the presidency of the in
stitution Immediately after his withdrawal
from the cabinet on March T. He will be
formally elected at the meeting of the
board Of directors on Thursday Of this
week. At the same meeting the capitaliza-
ton of the company will be materially in
creased.
President Charles C. Dickinson of the
company said this morning that Mr.. Shaw
had been asked to take the presidency some
months ago, but that his acceptance was
received only yesterday. Mr.. Dickinson
said that he and his associates had consid-
cred many times the advisability of having
at the head of their institution a man of
national reputation or, it might be said,
International reputation in the case Of the
Secretary.
He added that he himself would be re-
tained on the board as honorary vice presi-
dent, and that in all respects the policy OF
the company and the makeup Of the board
of directors would be unchanged. AS to
any further details he could not make any
statement till later today.
1.-The Carnegie Trust Company is COM
paratively new institution. organized last
fall with a capital of 81, 000, 900 and a paid
in surplus of $500. 900. 1t has the moral
backing Of Andrew Carnegie, after whom 1t
was named, and on it's board of directors
are included many well-known financiers."