Show FP1CK SUES CARNEGIE Files a Bill in Equity in Court at Pittsburg WHAT HE PRAYS COURT TO DO Bill Shows that the Business of the Great Company was Enormously Profitable In 1899 with Low Priced Contracts the Net Profits of the rirm were 821000000 Car neglo Valued the Entire Property at Over 8250000000 Frick Asks an Injunction and Receiver Pillsburg Pn Feb 13 Henry Clay Frick tiled a bill In equity today In the Court of Common Pleas No l of Allegheny Alle-gheny county against Andrew Carnegie Carne-gie and the Carnegie Steel company limited praying First For a decree that the pretended pretend-ed transfer of his interests In the company com-pany was and IR null and void and that he Is still the owner of all such interests Inter-ests and is entitled In every lawful way to represent and act for the same Second For an injunction restraining restrain-ing the defendants from any interference Interfer-ence with his Interest In the said company com-pany and from excluding him from participation par-ticipation in the care and management of the assets and business Third A decree ordering the defendants defend-ants to cancel upon the books of the firm any assignment or transfer heretofore here-tofore made or pretended to bo jnade to said absociatlon of the plaintiffs interest in-terest In the flim Pom ih A dtcne ordering the de fendants to caned and rusall entries upon the books of the firm oC the Carnegie Car-negie Steel company limited of unfair and Improper valuations of Its assets and of the plaintiffs Interests therein and to cause the said books so to be kept as to fairly and fully show the real value of the Carnegie Steel company com-pany limited and the plaintiffs interest inter-est therein Fifth In case the defendants shall refuse the offers made by the nlalntliT and shall refuse to continue the said business and allow him to participate In the management and contiol hereof here-of and of the properties of the Carnegie Car-negie Steel company limited In conjunction con-junction with themselves and shall Insist In-sist upon the exclusive management by themselves of said business and assets and shall continue to exclude the pialn life from his Interest in the business and assets of the said firm that thc cottrt will allow the plaintiff to declare the said firm of the Carnegie Steel company com-pany limited dissolved and appoint a receiver to take charge of all the business busi-ness and assets of the said firm permitting per-mitting said receiver to fulfill the unperformed un-performed contracts and to do whatever what-ever shall be necessary In and about the proper liquidation of hIs affairs and that after the conversion of the entire assets of the company Into money and the payment of the debts of the said IS company the court will then distribute S the balance thereof among the partners in proportion lo their Interests Sixth That an account be taken between be-tween Carnegie and the plaintiff whereby Carnegie shall be charged with all the losses expenses and damage dam-age he has caused by his Illegal and fraudulent conduct and that If Carnegie Car-negie persists In his said fraudulent scheme and refuses the offers hereinbefore herein-before made rnd thus causes the actual ac-tual dissolution of the llrm all losses Incurred by i the plaintiff by reason of the said dissolution and forced winding wind-ing up of the firm shall be charged against him and that he shall be de crepd lo make good and pay to the plaintiff the difference between what his Interest war fairiy worth on or about February 1 1UOO and the amount he shall receive through the decree of this court In final liquidation and settlement set-tlement of the said firm The bill in equity shows that Came gle lived In New York and passed much of his time abroad remaining atone at-one time for eighteen consecutive months lie did not pretend lo manage man-age the current business although he wan consulted as to Important mat teis The business from 1S02 to 1900 was enormously profitable growing by leaps and jumps from year to year until In 1S1D the llrm actually made cm lowpriced contracts in net profits after paying all expenses of all kinds S2l000000 In November 1S99 Carnegie estimated esti-mated the not profits for 1000 at 10 000000 and Frick then estimated them at 12000000 Carnegie valued the entire property at over S2SO000onO and avowed his ability In ordinarily nrospr > rous times to soil the property on the London market mar-ket for one hundred million pounds sterling en1 500000000 In May 1S9I Carnegie actuollv received In eash and still keeps 1170000 given him as a mere bonus for his ninety days option to sell his 581 per eont Interest In this steel company for i79nOOOO Pricks C per cent on that basis would be wortn 1C23SOOO Frick now alleges that right at the head of this enormously successful business bus-iness whereby nt least t In part he made for Carnegie these enormous profits and values I that I Carnegie suldenly and with malevolent Intent toward him on December 1 1S09 arbitrarily demanded of him resignation as chairman and his I without anv reason except to gratify grat-ify Carnegie malice Frick In the interest in-terest of harmony gave his resignation subsequently on the llth day of January Jan-uary 1900 After Carnegie had thus deprived him of his office he demanded of Frick thai he Frick should sell to the firm his interest In It at a figure which would amount to less than one half of what this Interest la fairly worth Frick refused to sell at that price but offered to sell and allow three men to value the interest sold Carnegie refused this and left Frick theratonlng him for not yielding to his demand |