The Lee County journal. (Leesburg, Ga.) 1904-19??, 1912-12-12

In continuing the story q Ainerl-
cas- I9 richest men, chapters of a
notable three are presented this
week. While theacquisitioa Of such
almost unbelievable fortunes-for-
tunes that range from s200,00o,O 900
to ST. 900, 900, 000-would seem to
be filed with thrills, there was
much, in fact, in the making Of
them that wrs Inc very opposite Of
the romantic, much that was prosaic
aud much that was discouraging,
SAYS the Chicago Tribune.
The story Of the life Of Charles NJ.
schwab is one IF few, and recon
mends him to a place among the
richest men Of the universe. he has
succeeded Carnegie az steel king,
with an estimated salary Of $500 900
annually, which is the smallest part
Of an enormous income.
The combination, known as the
Carnegie Steel Company. Of which
Schwab is president, has a capital
Of over 81 900, 900 900 and controls
8 Of the largest steel undertakings
in the country, altogether no less
than 247 establishments, The pro-
fits Of the company alone for 1900
are said to have been $4,000, 900,
while the aggregate profit OF all the
concerns under the one head IS
placed at sS7 400, 900.
Mr.. Schwab was born in Will
iamsburg, Pa, Feb. 18, 1862. His
father was employed in wooden
factory there At 10 Schwab went
to Loretto, on the crest Of the Ale
ghany mountains. He has set his
mind on being an engineer, and 50
studied and went through scienti-
fc course, graduating from college
in 1880,
About this time Schwab's father
obtained the contract for carrying
the mail between Cresson and Lor-
etto. The son drove the stage. Dur
lug his spare time he worked on
farms. From Loretto Schwab went
to Braddock, near Pittsburg, where
he found work in a grocery store.
It was in 1881 that Capt. Jones, one
Of Carnegie IS superintendent, came
into the store. Schwab knew him
and determined to ask him for work,
which, as the resul Of the impression
the young man made, was soon for
Incoming.
Schwab went to work at the iron
works at 81 day, driving stakes.
In 6 months, he was promoted, not
one or 2 places, but far up the lad
der, taking Capt. Jones' place as
nupt. Of the plant at Braddock, att
salary Of 5000 a year.
In this position he attracted the
attention Of Carnegie, andfrom that
time his progress was easy. He was
made the superintendent Of the Ed
gar Thomson works of the Carnegie
Company at Braddock, later being
1nade chief engineer and general
manager. He filled those positions
until 1887, when he was made sup
erintendent OF the homestead works.
There he did great reconstruction
work, introducing many improve
ments. II was mainly under Sch
wab's initiative that the Carnegie
Co. undertook the manufacture of
armor plate. The company officials
had been frequently approached by
officers of the navy, but handling
such heavy articles entailed such
danger and necessitated such costly
additions to the plant that Schwab's
predecessors had necessitated to in
cur the outlay. But under his re-
gime this part of the business was
made possible, and with unlimited
success.
Following the death Of Capt Jones
in 1889 Schwab returned to the Ed
gar Thomson works, where the
general superintendent Of all the
works could be carried on. In 1897
he succeeded John A. Leishman as
president Of the Carnegie Steel co.
Mr.. Schwab is by no means de-
pendent on his weekly, or monthly,
or yearly pay envelope for his main-
tenance, because he has a little nest
egg laid away that amounts to APP
proximately $500, 100000.