New-York tribune., 1919-12-03

was effected not by himself, but by an
other; for the gigantic United State :
Steel Corporation was formed in 1901
with Charles NJ. Schwab as president.
Yet for this disappointment he had
consolation IN the practical doubling of
his fortune; for he received. in return
for his Carnegie Company 100000
bonds and stock of the new concern
worth about SCI 100000.
The organization Of the Steel Corro-
ration was not to his liking, for its
head, Mr.. Schwab, was regarded as
"Carncgics man" SO when in 1903
Steel stock fell very low he secured
enough OF it to enable him to force
Mr.. Schwab out. But tho new head.
W. +. Corey. was also "Carnegic's $
man." and Mr.. FricN waced war against
hlm in turn until he dcposed him also,
and at last got his own friend, Mr..
Farrell, at The head Of the great trust.
wo other achievements of Mr..
Frlck's in high finance" have b,como
historic One was his leadership in
the house cleaning investigation of the
Equitable Life Assurance Society Of
New York. He was the chairman Of
the committee If directors which pre-
pared the so-callcd "Frick report" q
report which was suppressed by the
other directors and was followed by
the retirement of Mr. Frick and tho
rest OF the committee from the board,
but which led directly to the elimina-
ton of James W. Alexander and James
llazcn Hyde from the management -
the society and to the most sweep
ing reforms ever made in the whole
system OF life insurance in this state
and nation.
The other achievement was both
fnancia and political. and was nation
WIDE and lasting in its effects. 1t WAS
in 1907 that Jr. Fr;ck, in company
with Judge Gary. visited President
Roosevelt at the White House and
urged upon him what he himself lc-
scribcd as an latitude Of tact ac-
Qulcsccncc' toward the acquisition Of
the Tennessee Coal and Iron Company
BY Judge Gary's steel Trust, and thus,
as has been confidently claim ,d
checked the serious panic Of that year
and prevented national disaster.
Though he did not scatter bcncfac-
tloNS as freely as some of his contem-
porarlea. Nlr. Erick was generally ready
to contribute Of his wealth to tho pub
llc welfare. though. as in the ease Of
the LenoN Library, his intentions were
not always realized. Thus he offered to
the City Of Pittsburgh land worth
100000 for a park, but withdrew the
o1cr because the city was unable to
make the needed improvements upon it,
He gave 100000 to the American
Academy in Rome; was in 1915 the
largest contributor to the fund for the
widows of policemen killed in the per
formance OF duty, which Commissioner
Woods raised in this city, and was the
largest contributor to Nine Wander
ve'dc's fund for Belgian relief in 1914
H. gave in 1917 a fine marble and
bronze memorial of Joseph H. Choate
to tho lattor's native city, Salem, Mass
The children Of Pittsburgh have
cause TO remember the dead iinancicr
as their friend. He gave largely Of
his wealth for them, most Of his Gifts
never receiving any public recognition
whatever.
a few wears ago when tic Pitts
hurgh Bank for Savings fgilsl the
Christmas money deposited W. Ia it
b. 10000 children under ~ ar
riod out by the public sell vas
lost. MIR. Frick immcdia;e cred
TO make good every loss u, sthor