The inside history of the Carnegie Steel Company, a romance of millions . ttering fabric of their friendship with a crash that wrought the final trans-formation of the Carnegie SteelCompany, alienated lifelong friends,gave the public the secret confi-dences of the corporation, and Pitts-burg a new batch of seemed a little thing to producesuch momentous changes; but then,it was only Mrs. OLearys cow that set the citySet the city of ^f chicago On fire. Chicago on nre. ° At the meeting of the Board of Managerson December iith, 1899, Mr. Schwab made reference to the con-templated p
The inside history of the Carnegie Steel Company, a romance of millions . ttering fabric of their friendship with a crash that wrought the final trans-formation of the Carnegie SteelCompany, alienated lifelong friends,gave the public the secret confi-dences of the corporation, and Pitts-burg a new batch of seemed a little thing to producesuch momentous changes; but then,it was only Mrs. OLearys cow that set the citySet the city of ^f chicago On fire. Chicago on nre. ° At the meeting of the Board of Managerson December iith, 1899, Mr. Schwab made reference to the con-templated purchase by the Carnegie Company of a tract of landsituated on the Monongahela River belonging to Mr. Frick; andhe mentioned a hitch in the negotiations. This tract hadbeen acquired by Mr. Frick in partial exchange of other land; andMr. Lawrence Phipps, who was familiar with land values in thatneighborhood, had valued it at ^4,000 an acre. The land waswanted by the company; and Frick offered it to the firm at$3, 500. As Mr. Schwab remarked at the meeting, there is. .AJV lySIXUATIOX MET 323 no doubt about our needing this land before long-; and had shown his habitual foresight in securing it. Forsome reason, however, Mr. Carnegie disapproved of the pur-chase after he had sanctioned it; and insinuated that Mr. I^rickwas making a profit on the transaction. This coming to ears, he withdrew his offer. This was the hitch towhich Mr. Schwab referred. Later fresh troubles arose; andMr. Frick sold the land to other parties for half a million dol-lars more than he had asked the Carnegie Steel Company. The insinuation, with its implications, was indignantly re-sented by Mr. Frick. He did not meet the covert attack by areturn innuendo, but by an open minute spread upon the rec-ords of the Carnegie Steel Company. This, dated November20th, was as follows : In submitting Mr. Morelands report, I would like to callattention especially to low prices we are to receive for
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