The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1919-08-14

and that he had invented sleeping
car. Mr.. Carnegie was interested
and after seeing a model he became
convinced of its advantages. He ar
ranged an interview between Wood
ruff and Scott, and they formed a
small company which resulted in the
use on the Pennsylvania OF the first
sleeping cars ever used in the world
They gave Carnegie an interest, but
when his assessment, $21750. came
due. he had not the money; be Dor
rowed it, however. from a banker in
Altoona and repaid the loan at the
rate of SIS, month. His other ass
essments we're paid from his share OF
the earnings OF the car, and he made
a profit on this venture OF about 5000
00'.
Mr. Carnegie's first attempt to in
vest the fortune he was beginning to
make came when he put $4,000 in a
company formed for the development
o. an untried piece of oil land, But
oil was not found, he grew disconr
aged and he finally succeeded in sell
ing out one-third of his holdings for
$4,000. Then he went to Europe, and
while he was away the company
struck oil, and the share remaining to
him was worth quarter of million
Two OF his fellow workmen, named
Piper and Schiller, had attracted his
attention by their work on bridges
He proposed to them 10 organize a
company for building bridges, and the
keystone Bridge company was form
ed about 1869. His brother Thomas
had become interested in iron works
and Andrew, after consulting with
him, organized the Cyclops mill fol
The production Of structural iron, C
be used in railway bridges.
Colonel Scott joined with them, but
the project was not successful, and
Andrew Carnegie had TO turn tC
Thomas to help him get out of it. He
proposed that his brother and Henry
Phipps. Thomas partner should form
Il combination that would relieve him
Of his rolling mill and union OF
interests was brought about in 1865
The result was the Union Iron Mills
1t was just at the right time The
civil war had Just ended and the
great expansion was beginning. The
new concern made great profits and
Carnegie proposed further ventures
1t was the era of the building of rail
roads and the development of the
West Steel rails had become worth
$50 to 500 a ton.
By this time Andrew Carnegie was
recognized as the leader OF this Ma,
poleonic combination which, with
every new success, reached out fur.
Their On visit to England in 1865
he discovered the success being OBJ
tanned there with the Bessemer pro
cess, and brought the idea home with
him and adopted it in his mills. AT
ter he introduced the Bessemer steel
process in this country he became
principal owner of the Homestead
and Edgar Thomson Steel Works end
other large plants as head of the
firms of Carnegie Phipps & Co., and
Carnegie Brothers & Co.
In 1899 the interests were CONSOLE
dated in the Carnegie Steel Company
which in 1901 was merged in the
United States Steel Corporation. when
Mr. Carnegie retired from business
The only great clash with labor
which occurred while Mr.. Carnegie
was in business was the Homestead
strike of 1892 He was in Europe
at the time. and came in for much
criticism for not returning and for
letting the trouble go to finish with
out any action by him. He however
made an explanation long af,erward
~ was coaching through the Scot
fish Highland Oh my holiday" Mr.
Carnegie told the Industrial Relations
Commission in 1915, "and did not
hear OF the lamentable riot at Home
stead until days after it occurred |
wired at once that ] would take the
first steamer home but was requested
not to come"
He said that after his return he
told the Homestead rollers that his
partners had offered liberal terms
and he could not have offered more.
and that one of the men said: "0h.
Mr. Carnegie. it wasn't a question of
dollars! The boys would have let
you kick them, and they wouldn't let
another man stroke their hair And
he also told the commission a story
of his treatment of Burgess Nc