Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-08-11
From the Directorate Of
The Union Pacific.
lnIImaieS Thai He viii Leave
His Other Corporations.
Not Due 10 Friction, But He Means
To Have q Rest.

New York. Aug 10-The retirement
Of Henry Clay Frick from TIN direc-
| torate Of the Union Pacific Railroad
Go. vas announced this afternoon Nh
Frick rendered his resignation some
weeks ago. but for some reason moth
ing WAS said about his retirement UNI
til today. II is understood that he VIII
retire from other large corporations
with winch he has been prominently
identiticd for many years. Including
the United states steel Corporation.
Friends Of the capitalist and former
ironilaster say that his primary pun
pose in retiring from active financial
lie is dGe 10 his dc sire 10 take great
er east ard devote himself - other
pursuits 4 vas also iHtimatea TINT
his chief idea IN getting out ~ the
| Union Pacific WAS that his activities
| IN that read often conf1etea #ta hts
| dHtie2 tttari The Atchisan. 3eaefi d
| Santa re. - which lie has vera large
| holdings. and in the PENNSYLVANIA
| Railroad. Mr.. Frick's FRIENDS also de
| cllred that he believed such e1nue,z
| tons to be uuwfsp at this TIM. wheE
| the federal government is exercising
such Clcse supervision over Lars. rail
road aEd Industrial corporations whose
affairs ere 50 closely intcr-reIaled.
Union Pacific and Atchis"u are So
called competing roads at maut points,
and 3lr. Frick.s interest and activity
ia the United states siteel Corpora
tion which has frcaueHtle sold barge
supplies L those roads had 1t times
resulted in adverse criticism.
Mr. TTte4.s resignation from the
Union Pacific. if latest reports 4te ae-
curate MAS not due t. ans friction
with the management, Of which thcrc|
have been furters recently It has
been reported that he favored q ''se
.gregation" of Union Paeidc's assets.
with reduction of the prevailing divi=
dend. and 70 have declared that much
of the hostility to which the Hartman
roads particularly Union Pacific. has
been subjected. was the result Of heir
large dividend Disbursements. which
attracted public attention TO their in
crs asipg values All this is denied 10y
Mr. Tricks fellow directors in Union
Pacific, Who say that ne takes leave
of them With genuine regret and the
kndliest feelings.
Mr.. Tricks retirement from Tniou
5,a,..., ~ a. laa,rss,3z -,
60. ~ 60. 60
- .zs,''sz'tz. -,
,o,.,tio,, i, 1000 !, - a., III 10
Tho Port,of.iior.. az.,,,,a., tr..tr ut.
in United states Steel Inconsistent
with their holdings and ;nteraqts n,
other large =rornsrations.
Henry clay Fricl's career ard ma
t, rial success is closely interviewer
with The history of thu steel and ireo|
industry OF this country. Tie W. 1naI
of Andrew Carnegies lieuteuants aud
at once time deep in the confidence d.
that iron master Thcz had a serious
Disagreement. however. when Mr. can
negie took over the 81 oo000a forfeit
money which Friek deposited as
binder" Go buy the Carnegie proper
tics, but which PROJECT failed Less
than two Years later Carnegie sold his
interests 70 the United States steel
Corporation for al least three times as
ntueh as the pfIe@ he named to Prick
ana associates