Show CHARLES M IL SCHWAB How Row a Country Boy Hose Bose Ros to Immense J Wealth Cincinnati Enquirer From salesman In a 0 country store at t 5 a e week to the presidency of ot the greatest steel manufacturing concern In the world with a salary of a year and about in stocks and bonds This is the record of Charles il M Schwab who wilt will be the head of the new n w billion dollar steel trust being formed forI by J Pierpont Mor Morgan Morgan gan gnu and others other And all this came carne within wi thin less than tha l twenty ty years y ars Fairy tales of wealth pale into insignificance insignificance Insignificance wh n compared with the facts in the recital of the wonderful career of Born eight years ago in a mountain hamlet wits nothing but 1 energy he forced his way to the city where he has found fame and fortune Andrew life Ute history is inter interesting interesting interesting esting but that of Schwab is 15 fascinating I ing One would have much difficulty in i finding Williamsburg on the map of Pennsylvania P but it is in Blair county and at that place Mr Mr Schwab was born Feb IS 18 1862 1863 Ten years later the Schwab family moved to Loretto on I Ithe the crest of the Alleghany mountains where young Schwab l was sent to I school to the Franciscan monks who have a college there He fancied en engineering engineering engineering and took a scientific course At the age of ot 18 IS he left the institution to make his living and came cam to Brad Braddock Braddock Braddock dock where some friends from Loret Loretto LOrett to t had located He obtained employ employment ment meat in s general store which was not far tar from the Carnegie steel steelWorks steelworks Works Past the store on his way to cad and d from the mill came Captain William R E Jones at the time general genera manager of the works He Re stopped in the store to buy tobacco and noticed young Schwab The latter seized the opportunity opportunity of acquaintance with Captain Jones and the latter offered him a position position position tion first work for the Car Carnegie Carnegie Carnegie negie company was drIving stakes for foran foran an engineering corps cor Six months later he was the chief of the department I Captain Jones found his ge was wasa a bundle of activity and sent the th young man to a business college in Pittsburg I at night When other young men were l amusing themselves Schwab was study ing He learned learn d all he be could about en engineering engineerIng engineering The first work that attract attracted ed the attention of Andrew Carnegie was an L railroad system in the Brad Braddock Braddock Braddock dock mill yards Carnegie Carn gie wanted more blast furnaces and Schwab was Avas given charge of their erection In 1881 Schwab was made chief en engineer engineer engineer and assistant manager of the Braddock furnaces and steel works and held the place until 1887 when he was sent over to Homestead as superintend superintendent ent He was there when the first Home Homestead Homestead Homestead stead strike occurred in 1889 After the sheriff of Alleghany county and a posse chased out of Homestead and matters looked threatening Mr Schwab persuaded the men to go back to work He was over o r at Braddock again when the big Homestead strike of 1892 oc occurred occurred occurred having taken the place of Cap Captain tain Jones deceased who met death by byan byan byan an accident at one of the blast fur furnaces furnaces furnaces naces After the strike his jurisdiction as general superintendent at Braddock was extended to include the Homestead plant He had from to men under him at this time When John A G Leishman at pres present present present ent minister to Turkey resigned r as president pr of the Carnegie company in 1891 Mr Schwab who had been elected a member of the board of of the company the preceding year was chosen president t At that tha t time H C Frick Prick was chairman n of the board of directors and the active head of the company When Prick Frick left Mr Schwab was given the duties He filled tilled them so successfully that when the business was reorganized last spring Schwab was elected president of the Carnegie company the capital stock of which had been increased to Mr Schwab became a stockholder of the Carnegie company compa y when Carnegie Bros Co limited was formed with witha a capital of Mr lr Schwab had of 1 per cent of this Dec De DecSO 30 SO 1899 after the Carnegie gie Steel com corn company company pany had been formed with a capitali capitalization capitalization capitalization of Mr Schwab had increased his shares td to 3 per cent It was long before this thi that he found he was unable to spend his money and the matter of investing it became troublesome He has given largely but unostentatiously to charity One of Mr most notable gifts was as the presentation of a church costing to the Catholics of Lo Loretto Loretto Loretto He also erected in the town an immense statue of Prince Demetrius Gallitzin the first Catholic priest of that section and whose bones rest un under under Under der the new church Mr Schwab found founded ed and maintains an industrial school and technical educational institution for mechanics at Homestead In his boyhood bo hood days he was a member of the Loretto Loretta or Williamsburg sliver silver cornet band and has a warm side brass musical organizations He has outfitted a a number of bands and provided in instructors instructors Instructors I for them Mr Schwab is happily married and lives at the old Vandergrift t mansion above Fifth avenue east end He H recently bought the place for cash IBs wife was Miss Emma mma Dinkey daughter of R H E Dinkey of Carbon county Pa They have no children Both are enthusiastic music lovers and attend all the Pitts PIUS Pittsburg I Iburg Iburg burg symphony concerts They have hae a summer home near Lo Loretto Loretto Loretto where they spend the hot months The best information obtainable in Pittsburg is that Mr Schwab will be bethe bethe bethe the active head of the i reorganization organization r no matter what shape it takes His ability Is unquestioned and aside from this his interest in the present Carne Came Carnegie Carnegie gie gb business makes him the most im important important important factor next to Mr Carnegie Of the worth of stock he holds shares having a par value of He owns the same amount In bonds If Andrew Carnegie sells his stock for 50 per cent more than the thep par p r value alue Mr stock is there therefore therefore therefore fore worth This with his bonds make him the possessor of al almost almost most This is at the rate of 2 for every year he has been in m inthe inthe the Carnegie service |