Rensselaer Semi-Weekly Republican, Volume 21, Number 53, Rensselaer, Jasper County, 30 March 1900 — CARNEGIE SUIT IS OFF. [ARTICLE]

CARNEGIE SUIT IS OFF.

Head of Steel Company Make* Terms _ 1 with Frick. The groat contest between Andrew Carnegie and his partner, H. C. Frick, has closed. The lawsuits are ordered stopped and an amicable arrangement has been made between the two great .iron magnates by which not only are the Warring elements set at rest onee and for all, but also a great steel, and iron corporation has been formed' that is farreaching in its influence and has a capital of over $200,000,000. The agreement covers not only all the points at issue between the two leaders, but also the taking into the combination of all the allied companies in which they were individually interested. How far-reaching these agreements are may be inferred from the fact that they cover not only the Carnegie Steel Company, with its $50,000,000 of paid-in capital, but also the coal mines, the fleet of boats on the great lakes, the iron mines, the railroads, the tTanspdrtation lines, the immense coal fields and the coke interests, and in addition to these hundreds of other interests in subsidiary companies. All these are merged into one cdlossal corporation.Mr. Frick was originally a clerk in the employ of Mr. Carnegie. By reason of his executive ability he advanced steadily in his employer’s favor, acquired stock and won a fortune. With the filing of a suit on .Feb. 13 last knowledge of the details of a dispute between the wealthy iron master and his lieutenant became public. Mr. Friek, suing the Carnegie company, insisted that he had made the enormous profits' for the organization; that Mr. Carnegie paid no attention to the business, and that if he did a great financial loss would result; that Mr. Frick was the Victim of Mr. Carnegie’s malice; that Mr. Friek considered his stock worth $1(5,238,000 and not $0,000,000, by the payment of which Mr. Carnegie was attempting to force him out of the company. Mr. Frick also accused Mr. Carnegie of trying ,to malic operative a so-called ironclad agreement made in 1880, whereby any member of the company might l>e forced out.