The Birmingham age-herald., 1913-08-01

ones Delng OF properties within the juris-
dietion of New York state, he perfected
trust so that his properties in the event
of his death would not be disturbed.
Mr. Brady was a man of such caution
and was SO constantly looking into the fu-
ture so that he might detect possible
emergencies that it Is regarded as certain
that he arranged for the management and
control of the properties with which he
was identified by trustees in whom he had
confidence.
The Carnegie Trust
Some of those who are in intimate rela-
ton with Andrew Carnegie report that
Mr. Carnegie has been now for some years
greatly occupied in perfeeting a trust
which will have control over his estate
and will be authorized to make such dis
tributions from it In the way of benefac-
tions as he desires to have made. The
Carnegie trustees. will have control prob
ably of a larger property than any trus-
tees created under the terms of will,
excepting those who will administer and
maintain the estate OF John ID. Rocke-
feller. But there is a great difference
between a trust created by Andrew Car
negie and those created by other men of
great wealth. Mr. Carnegie's property
is for the most part invested in securities
of the United States Steel corporation. He
has no administrative authority with
that corporation. AS long as the interest
upon his bonds is promptly paid Mr.. Car
negie or any trust he may create cannot
interfere with the operation of the Steel
corporation.
There are many indications pointing to
a gradual and ultimate distribution of the
entire Carnegie property excepting such
portions of his estate as he may deem
proper to set apart for his wife and
daughter. Mr.. Carnegie has told his
friends that he never dreamed of accum-
ulating any such fortune as came to him
when the Carnegie Steel company was sold
to the United States Steel corporation. He
has also said that he has been far more
embarrassed in making during his life
time such distribution of his property as
he deems expedient than he was in ac-
clfmulating it.
That is the reported experience of some
of Mr. Carnegies associates Mr.. Phipps
is reported by his friends in this city to
have said that he awoke one morning to
find himself rich, not famous, but he also
discovered that the sudden acquisition of
undreamed of wealth did serve to give
him, IL not fame, certain kind of noto-
riety. He, too. has been somewhat en-
barrassed by the exigencies of properly
caring for his large income and by the
means of working out plans for a dstribu-
tion of 1t to the public
The trust which the late Anthony N.
Brady has presumably established by
will will have the care of the properties
with which Mr.. Brady's name is identified
and from which he gained the greater
portion of his wealth, whatever the aggre-
gate may be.
Grasping Opportunities
Mr.. Brady in his career illustrated we'll
the view of some of the men who have
achieved greatly, which is that the larger
triumphs in industry or finance have been
due to realization of the offering of OPP
portunity and the ability to grasp it.
That is the view, for instance, of Theo-
dore N. Vail. He often says to his
friends when men who have gained great
fortune or who have achieved largely are
mentioned: These men did not develop
the United States. The United States
made them"
In other words, 1t was the resources of
the country and the opportunity created
by the needs of the rapidly growing pop
ulation which made possible the accumu-
lation of gerat wealth.
Mr.. Brady was a man of strong imagi-
nation. He sometimes spoke with enthu-
siasm of the stupendous resources of the
United States and how eagerly these re-