New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-08-11
1pcides TO Lessen Activities. and
Friends Say He May Quit
Business Entirely.
TO DEVOTE TIME TO ART
Thought That He Will Follow Ex-
ample of J. D. Rockefeller and
Turn Vast Interests Over to
Personal Representatives.

~
leu. one of the most influential men in
.h. country. has decided 70 lessen his
o..i,.,ties. and as a step in that direction
- already resigned as a director and
member OF the executive committee Of
tho Union Pacific Railroad Company and
90 a director of the Oregon Washington
Railroad and Navigation Company and
.be oregon Short Line Railroad. II is
understood that ne cOntemplates resign
ing from the directOrates Of several other
large companies. including the United
states steel Corporation. and although
This could not be officially confirmed one
Of his business associates said that it
was quite possible
M Frick retired from the Union Pa
ciac and the other two railroad boards
Two months ago. but the fact did not be
come public until yesterday. A rumor
that his resignation was due 10 friction
between him and ex-Judge Robert :.
Iovett. head of the Hartman lines. was
denied both by Judge Lovett and prom
inent directors Of the Union Pacific.
one Of the reasons that led Mr.. Frick
20 resign from the Union Pacific one Of
these directors said. was that his in
-eresrs were larger in the Atchison and
that he felt embarrassed at times by
beiDg on both boards. as the two com
panies were TO a certain extent compeu-
tive. The principal cause for Mr.. Fricks s.
retirement. however. he added. was that
ne desired 10 lessen his business activi-
ties in order that he might devote more
time 70 pleasure and art. Mr.. Frick and
the ether memb bers OF the board this
director said had parted the best Of
friends
No successor 20 Mr.. Frick on the board
OF the Union Pacific will be elected until
the annual meeting in October. but
Frank A. Vanderlip. president Of the Ma
tional City Bank. who is already a
director Of the Union Pacific, was elected
70 succeed him on the boards Of the two
subsidiary companies.
May Retire Altogether.
IT. tightening his business connections
Mr Frick is following the recent ex-
ample Of Thomas F Ryan. who within
the last year or two has retired from ac-
tive participation in the affairs Of most
Of the companies in which he used 10 be
prominent Mr.. Frick. IT is thought in
Wall Street. may be contemplating going
even further than Mr.. Ryan-that is. re-
tiring from business altogether as his
former partner Andrew Carnegie and
John y. Rockefeller have done. His as
sociates say that recently he has at
tended very few directors meetings. and
has spent most Of the summer at his
home AZ Pride's Crossing. He has
gathered together one Of the finest pri-
vate art collections in the country, and
is said % be desirous Of having more
time % devote 70 his pictures.
Should Mr. Frick decide 10 withdraw
altogether from active business it is
thought probable that he will follow the
example of John =. Rockefeller and turn
the management Of his vast interests
over t1 a group Of personal representa-
uves He already has one personal rep
resentative in Wall Street. 5. L. Schoon-
maker. OF No. II Broadway. J. Horace
Harding. Of the Stock Exchange firm Of
G. p Barney & Co. also. IT is under
stood. represents Mr.. Frick on the
boards Of several companies.
Mr Shoemaker represents him on
the boards Of the Chicago Junction Stock
Yards & Railroad Company Of which
Mr. Frick is probably the largest owner;
the American Telephone and Telegraph,
General Electric Manhattan Trust and
Railway steel Spring companies. while
Mr Harding is said 20 represent him on
the dlrect0rates Of the Brooklyn Rapid
Transit Company. Public Service Cor
poraton Of New Jersey. American Ex-
press Company Amalgamated Copper
.Company and Metropolitan Trust Com
pany
According IN the list Of holdings of
railroad stocks published by The Inter
state Commerce Commission in 1903, Mr..
.Frick was az that time one Of the largest
individual holders Of that class of securi-
ties In this country. II not IN the world.
and 70 IS believed he has added 10 rather
Than decreased his holdings since. al
though he is understood 70 have lightened
his load of Union Pacific stock consider
ably since the tin-s when he. the late
2. Y Hartman. Jacob n. Schiff. Will
IAN Rockefeller and James Stllman
controlled the road through stock owner
snip Mr. Frick was made one Of the
Defendants in the recent government suit
against the Union Pacific.
Largest Owner in Two Railroads.
Ia the Interstate Commerce COmmis-
yons list referred % Mr. Frick was
given as the largest individual owner of
Pennsylvania Railroad stock. S4.32OVD;
the largest of Chicago & Northwestern.
N.SoDO0N; the second largest Of Norfolk
Western. 5000 900. and the third
largest Of Atchison. $3.53O.OOO He was
and still is one Of the largest owners OF
Reading. although IL is impossible 10
give the figures. as they have never been
published. and he is also said 10 be
large owner Of Baltimore & ohio. his
holdings I'm that road being estimated
several years ago at fifty thousand
shares
AS one Of the chief men engaged III
building up the steel business OF the
country and as one Of the leading spirits
IN the Steel Corporations affairs his