Evening star., 1940-02-25

"When riches are gained" he used to
quote to his friends. follow the heart,
for riches are Of no avail If one be
weary"
That was neither Quaker nor Episco-
palian. 1t was ancient Egyptian. But
Mr.. Taylor followed it Snnouncing
that he was through with business for
good Che had already retired once, only
10 be drafted back and that he wanted
to spend the rest Of his active life trying
to help solve the worlds problems.
Up to that time, people had thought
Of him only as big businessman. But
he had said some strange things for
big businessman He had said "the need
of making profits is the tragedy of busi-
ness" He had said you can do all
kinds Of things for the public. for the
Government, for the consumers, the
workers. the stockholders, but If the
business keeps in the red-well, 1t is bad
business. You can't get away from that"
Admirer of Roosevelt.
He had known President Roosevelt for
a long time. He'had admired the way the
President took hold Of things in the dark
days Of 1888. He had been a frequent
guest at the White House He had at
least two deep interests genealogy and
sailing-in common with the President
And he was free, and willing to use his
own time and his own money to tackle
social problems at the very moment when
history seemed to be crying for an out
standing man to tackle the problem of
political refugees.
From the standpoint of Franklin D.
Roosevelt, the founder of the New Deal,
Mr.. Taylor belonged in the class which
the President called economic royalist" !"
His income from United States Steel
in 1886 was $l66.862. His parents had
been well-to-do. He could afford three
homes-one in "Millionaires' Row" in
East Seventieth street in New York, one
on Long Island, and one in Florence,
Italy.
On the other hand, he had been active
in charities, and he had reversed the
anti-union tradition of big Steel" by
recognizing John Lewis and the c. I. O.
The Lewis episode was unquestionably
the outstanding point in Mr.. Taylors
long industrial career. It dramatized
him in the minds of public which knew
him not at all while he was building his
fortune and heard of him only hazily as
the big baron who ruled Big Steel
later on.
There was human touch, too, In the
way the agreement came about.
It was in January. 1887, and Mr.. and
Mrs. Taylor were dining in Washington
hotel. At nearby table sat John Lewis
and Pennsylvania United States Sena-
tor Joseph Guffey.
Shook Lewis Hand.
Mr.. Taylor had met Mr.. Lewis during
steel's negotiations with coal mine unions
in 1884, 50 he walked across the room to
shake the union leaders hand.
When he returned to his own table,
Mrs. Taylor said:
will you ask Mr.. Lewis to come over
here? I'd like to meet him"
The meeting followed, the three sat
and talked together and not long after
ward the steel company signed con-
tract with Mr.. Lewis on the basis Of an
open shop.
Now it happens that Mr.. Taylor
worked out the solution of the union
question the summer before that meet
ing in Washington. He did 1t quietly.
unknown even to his steel associates, In
his villa at Florence. That villa, which
once was palace Of the Mediois, will b
his home during his stay as the Presi-
dents peace ambassador to the Vatican.
In textiles, his first field Of operations,
he was virtual Gear" before he retired
at SO with fortune estimated at 120,-
000O0o ITO enjoy some Of my hobbies"
Few knew him. To Wall Street he was