. Review of reviews and world's work. n during the spring oflast year, and was the outcome of a plan to placetlie stock in the market and make of the com-pany the greatest establishment of its kind knownto modern times. As Mr. Frick tells in his suit,Andrew Carnegie was given a check for $1,-170,000 as a bonus for a ninety days option tosell his entire interests. Tlie sum to be paid himfinally was $157,000,000. Ex-Judge W. , H. C. Frick, Henry Phipps, and AndrewW. Mellon, the Pittsburg banker, were the pro-moters of this enterprise, which in its stupen-dous dimensions of capital stagger
. Review of reviews and world's work. n during the spring oflast year, and was the outcome of a plan to placetlie stock in the market and make of the com-pany the greatest establishment of its kind knownto modern times. As Mr. Frick tells in his suit,Andrew Carnegie was given a check for $1,-170,000 as a bonus for a ninety days option tosell his entire interests. Tlie sum to be paid himfinally was $157,000,000. Ex-Judge W. , H. C. Frick, Henry Phipps, and AndrewW. Mellon, the Pittsburg banker, were the pro-moters of this enterprise, which in its stupen-dous dimensions of capital staggered even thoseaccustomed to deal with large sums. Tlie ideawas to take in, if possible, the American Steel THE IKON-CLADMENT. AGREE- WhenMr. Carnegie, then,came to the conclusion thatthe presence of H. was detrimental tohis own interests, he putinto operation the much-dis-cussed iion-clad agree-ment, which was first madeknown to the public throughthe legal efforts of the plain-tiffs attorneys. The iron-clad agreement was a pa-. THE EDGAIl THOMSON STEEL WOUKS (OWNED BY THE CARNEGIE STEEL COMPANY). THE GREAT STEEL MAKERS OF PITTSBURG. 435 and Wire Company, the Na-tional Steel (,ornpany, andthe Federal Steel Company,the stock of which three com-panies alone is valued atalmost $250,000,000. Thecapital represented by thepromoters after carrying outtlieir plans would have beenlittle short of |1,000,000,-000, and it was proposedthat the Carnegie Steel Com-pany sliould be in control ofthe new organization. But the ninety dayspassed and the capital withwhich to buy out Carnegiehad not been secured. Cap-italists did not see theirway clear to encourage combination of enterprises. A few weeks be-fore the option expired a hurried journey wasundertaken to Skibo Castle, Scotland, where thepromoters endeavored to have tlie time was then that Mr. Carnegie sprang the surprise which resulted in tlie rupture between thepartners. Instead of granting the extension asked for,lie in
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