The herald and news. (Newberry S.C.) 1903-1937, August 19, 1919, Page TWO, Image 2
STORY OF CARNEGIE,
WHO GAVE MILLIONS
Washington, Aug. 11.?Andrew
Carnegie had given $350,695,653 up
to June 1, 1918, a campilation of his
benefactions prepared by the Carnegie
Endowment for International
Peace shows.
Andrew Carnegie began a race
against time when, in 1901. at the
age of 65, he resolved to give away
his enormous fortune. He held it
"disgraceful" for a man to keep on
gathering idle millions. In the comparatively
few years which the actuary
could allow him, he would disembarrass
himself of practically all
he had. No man had ever launched
a philanthropic campaign of such dimensions.
His was then a fortune of just
about a quarter billion dollars, the
lareest ever acquired by a foreign
born American, second only to the
John D. Rockefeller wealth as the
largest individual accumulation in
the United States, and, built, as it
was, of 5 per cent steel bonds, it
would, without so much as turning
over one's hand, have approached
half a billion by the time Carnegie
could call himself an octogenarian
on November 15, 1915.
To give this stupendous sum away
in about half the time he had taken
to eather it. was a purpose Carnegie
had fairly well fulfilled when death
overtook him today. He had distributed
about $300,000,000. It giving
money away at the rate of over
$20,000,000 a year, or more than
$50,000 a day.
How Give Away $300,000,000
He declared, when he gave up
gathering wealth and announced an
era of distribution, that he expected
to find it more difficult to give his
millions away than it had been to
acqurie them. "How would you give
$300,000,000 away?" became such a
popular equery that an English advertiser
who employed it, received
no less than 45,000 suggestions as to
how Carnegie could rid himself of
Tfra?1fVi TnrnlxTQ "f Vi nn conrl ner.
XIlO VY cailll* X ?? Vi* V vuvuwuiiu Jk/Vi
sons solved the problem in part by
askings for some of the money for
themselves.
The answers which Carnegie himself
gave and backed up with his
millions have made him the most
original if not the greatest of philanthropists.
Before he sailed for Scotland in
1901 he left letters announcing gifts
of $9,000,000. His first big gift was
the setting aside of $4,000,000 to
sdddIv Densions and relief for the
injured and aged employees of his
steel plants?"ap acknowlegment of
the deep debt which I owe to the
workmen who have contributed so
greatly to my success." He added
an extra million for the support of
libraries for his workmen, and took
up his library hobby in a wholesale
way by giving $5,200,000 to New
York city for the erection of sixtyfive
branch libraries in the metropolis.
Another million he gave for a
library in St. Louis.
"I have just begun to give money
away," he said in announcement of
these gifts. He kept it up as fast as
he could with discrimination. On
libraries alone ne spent upwards 01
$53,000,000. He gave them to some
two thousand English-speaking communities
throughout the world. One
, of his libraries is in the Fiji islands.
He remembered Pittsburg, the
scene of his steel-making triumphs,
by establishing there a great institute,
including the largest of his libraries,
a museum, a magnificent
concert hall, and the Carnegie
. Technological schools, with a total
endowment of $16,000,000.
He built a great national institution
in Washington, which should be
the foundation head of advanced
work in "investigation, research and
discovery," and placed in the hands
of its trustees a total endowment of
$20,000,000.
To his native Scotland his largest
single gift was a fund of $10,000,000
to aid education in Scottish universities.
The Hero Commission.
He carried out his pet idea of a
hero commission, endowed in 1905
with $5,000,000, by which hundreds
of men, women and children have
been rewarded with Carnegie medals
or pensions for acts of heroism
in the rescue of imperiled persons.
He later extended similar benefactions
to several foreign countries.
He established the Carnegie Foun
* - a j _ a
elation lor me Advancement ux
Teaching, with a total fund of $15,00t),000.
which has taken up efficiency
surveys of educational work,
alided many institutions and provided
pensions for college professors. In
"Why I Put Up With Rats for Years"
.. : Writes N. Windsor, Farmer.
"Years ago I bought some rat poison,
which nearly killed our fine
Watch dog. It so scared us that we
suffered a long time with rats until
my neighbor told me about RA7.SNAP.
That's the sure rat kil.'er
ar.d a sufe one.'" Turee sizes, 25c,
50c, 551.00. Soid and j^uarantet'd i>v
v 1 r*. j ? *:i
iL/Cf i y suU'.wsir w.. vao.vj
w ?\ >o.
{1911 he capitalized his educational
j benevolence, so that his gifts to li|
braries, colleges and other institutions
should live after him, by esI
tablishing the Cornegie corporation
[with a fund of $25,000,000.
i One of his latest and greatest
I ideals was the abolition of war, a
hope that he cherished in the face
of international conflicts. He gave
$10,000,000 towards an international
peace fund, and built the peace
palace at The Hague, which was dedicated
in 1913. He gave $750,000
[for the bureau of American repub11:?
-i
lies ai> vi aomiigiisju.
His love for music moved him to
equip hundreds of churches and institutions
with pipe organs* He
never gave directly any large sum
to religious purposes. Of his organ
gifts he said he would hold himself
responsible for what the organ pealed
forth on the Sabbath, but not for
what might be said in the pulpit.
One of his very earliest gifts, as far
back as 1891, was the Carnegie
music hall in New York, at a cost of
$2,000,000, and as president of the
New York Philharmonic society he
spent his money liberally in furtherinop
i+a idofllc TTa alsn lihfvrallv
backed the Pittsburg orchestra.
To the Allied Engineers' societies
he gave $2,000,000. His small gifts
to colleges amounted to some $20,000,000.
No man left at his death
such an unique and such a scattered
series of monuments to perpetuate
his memory.
In the background of these fifteen
years of philanthropy there is
the familiar story of Scotch thrift, a
little luck and steel, which made
such generosity possible.
Carnegie Told His Own Story.
Carnegie was fond of telling the
story himself. Rapidly covered, it
was this: His first penny he earned
unexpectedly as a child when he astonished
his schoolmaster in Dunfermline
by reciting Burns' long
poem, "Man Was Made to Mourn,"
without a break. There is an anecdote
of how, when asked in Sunday
school to recite a proverb from
| scripture, the young Scot unwitting:
ly forecast his own fortune by giving
the homely advice?"Look after
the pence, and the pounds will take
care of themselves."
Andrew was 12 when his father,
a master weaver, was brought almost
to destitution. The steam loom
' ? ' ?a f i m r
drove mm OUl 01 ousmess. xne imuily
numbered four, including "Andy"
and his younger brother William.
The parents decided to emigrate to
America, whence some relatives had
preceded them with success. They
settled at Allegheny City, Pa., across
the river from Pittsburg, in 1848.
The father and Andrew found work
in a cotton factory, the son as bobbin
boy. It, was his first work. The
salary was $1.20 a week. He was
J soon promoted, at a slight advance,
to engineer's assistant. He stoked
the boilers and ran the engine in the
factory cellar.
In those dingy quarters, where he
worked twelve hours a day, came
the inspiration that later led to his
library benefactions, he said. A
Colonel Anderson, possessed of some
400 books, announced he would
open his library every week-end and
allow boys to borrow any books
they pleased. Carnegie was one of
the most eager readers.
"Only he who has longed as I did
for Saturday to come," he has said,
"can understand what Colonel Anderson
did for me and other boys of
Allegheny. Is it any wonder that I
resolved, if ever surplus wealth
came to me, 1 would use in imitating
my benefactor?"
At 14 Carnegie emerged from the
I engine cellar and became a tele
graph messenger. J. Douglas Reid,
ja Dunfermline man, who had come
to America early, was head of the
office, and he made Andrew his
protege. Telegraphy was then alI
most a new thing. Nobody ventured
| to read the dots and dashes by
j sounds. They were all impressed on
I tape. Carnegie is said to have been
j the third operator in the Uinted
States to accomplish the feat of
j reading messages by sound alone.
He practiced mornings before the
regular operators came around.
Death Message Signal.
"One day a death message signal
came," he has related, "before the
operators arrived. In those davs
death messages were the most important
messages we handled, I ventured
to take this one."
He did it correctly and delivered
the telegram before the regular
force was on duty at all. It won
him promotion to the key and
sounder. When the Pennsylvania
j railroad put up a telegraph wire of
! its own he became clerk under Di!
visional Superintendent Thomas A.
j Scot.. H 's salary jumped to $35 a
j month. "Mr. Scott." he observed,
j "was then receeiving $125 a month,
and I usee to wonder what on earth
he could do with so much 'money.'"
1 Andrew was: 10 v/hen his father
!
. dis'l, arid he btcaine at ouce the
brj^,5 wi-r-ier for the fnir.Iiy and a
! ^
tlU't CI ?' ?)iZ ii- i- vXi:ll lo 'J
i by his trusted employer that ten
| shares of Adams express stock
' could be had for $500, and it was a
j good investment. At a family council
that night Carnegie's mother decided
she would mortgage her little
home for $500. The stock was
bought, and it brought monthly dividends
of 1 per cent.
"I can see that first check of $10
dividend money now," he said when
he became a retired ironmaster with
millions. "It was something new to
all of us, for none of us had ever
received anything but from toil."
The next step toward independence
and fortune came when T. T.
Woodruff, the inventor of the sleeping
car, approached him with a
model of the invention. "He had
not spoken to me a minute," Carnegie
has since recalled, "before,
like a flash, the whole range of its
value burst upon me. 'Yes,' I said,
'that is something which this continent
must havA.' "
He consulted Scott, and the three
invested for the manufacture of the
cars. Carnegie, then earning $50
monthly, had to borrow $200 as his
first installment of capital, but later
when he sold out his interest to
the Pullman company he had realized
$10,000 for the venture.
Carnegie was 26 when the civil
war broke out, and he saw his old
employer and friend Scott elevated
to the post of assistant secretary of
war. Carnegie in turn won an oppointment
as director of government
railways and telegraphs. To
the carnage he saw at several battles
may be traced his lifelong belief
in the folly of warfare?"a blot
upon civilization."
Unwittingly following the lead of
a man who was later to eclipse him
j in fortune building, Carnegie, at
| 30 years of age, invested in oil. As
| one of a syndicate he bought up a
' iinft n-f /-iil lanrl Tn n vphv tn
Ivaou tiavv vx vn ^ 7 ?v
, the surprise of all the investors, it
| paid the astonishing returns of $1,i
000,000 in cash dividends upon a
capital of $40,000.
Iron Attracted Carnegie.
But iron was the magnet then at,
tracting Carnegie. Carnegie forej
saw the demand for a factory that
could turn out the iron parts, and
he formed the Keystone Bridge
works. They built, as their first
great piece, a brige over the Ohio
river, with a span of 300 feet. Demand
for similar structures became
general and the Keystone works
got big orders and profits.
Carnegie then began to see that
- -1 a i-~ ?: ?
iron rans must oe given up xvx s^cci.
On a visit to England in 1868 he discovered
the success being obtained
there with the Bessemer process.
Carnegie quietly brought it home,
and before the English markets
were aware of the fact, he had
adopted it in his mills.
The romance of his success y?as
such that the immigrant boy of 1848
became some 40 years later the
world's leading producer of steel, a
multi-millionaire himself, and fast
bringing a score of other men into
cQmo TVfanv soiiare
ViiX, UU'tlW VW.Wj,..,,. ^ - "I
miles of his mills surrounding Pittsburg.
He reached into upper Michigan,
700 miles away, and acquired
vast regions of ore land. He es'tablished
railway and steamship
j lines to bring .the ore to him. He
| boasted of the reduction in price of
; steel rails from $95 a ton down to
! $26. His critics claimed that even
the lower figure was maintained
only by the fact that he had mo!
nopolized the industry. A former
j secretary once divulged what was
i alleged to have been official corre!
spondence to the effect that the
Carnegie steel combination could
sell rails at a profit as low as $12
a ton.
T4- 'fj-iof +VlA 0?*"i n
| It Wao viimv vmv ?-,*
J which he had upon the steel situaj
tion made his elimination necessary
| if others in quest of wealth in steel
i were to realize the millions they
j saw going to him. He was, accordj
ingly, bought out in 1901. The synj
dicate, headed by J. P. Morgan,
! which desired to form the billion;
dollar United States Steel corpora!
tion, paid $420,000,000 in their 5
I per cent bonds for the Carnegie
| company's holdings.
j "What a fool I was," Carnegie
I later said in \ a hearing before' a
congressional committee at Washington,
"to sell out to the steel corporation
for only $420,000,000. I
have since learned from the inside
that I could have received $100,000,000
more from Mr. Morgan if we
had placed that value on our prop-i
erties." Carnegie's personal share
in these holdings netted him about
$25,000.00. His first actual investment
in iron had been $1,500 of borrowed
money, 36 years before,
j "The secret and method of my
success is simple," he said. "I or:
ganized my business into depart;
merits. I put the best man I could
find at the head of euth department, j
iheii Mm responsible and judged
T
iii:m by remits. i have started more j
than fifty men c;: the road to mil- j
iionaires.'"
i
Crrr.-egic's mother, to v.horn he'
???- i i i 1 '
repeatedly gave credit for all that j :
he was, lived to be an octogenarian,; <
and so devoted was he to her that j;
he hesitated to marry. In 1888,;
: however, he married Louise White-1;
! ford, of New York, by whom he had
! one child, a daughter. Margaret,
! born in 1897. His bride was 20 vears
j his junior. To her and her daugh- j
j ter probably remains a large fortune,
notwithstanding Carnegie's
public gifts.
PRESIDENT VETOES
DAYLIGHT SAVING
(
I Says Manufacturing Interests Need
Daylight Saving for Increased
Production.
WocViincrfrtn A nor 1 4 Proei^lanf
| Tf A X. XI. X
Wilson today vetoed the bill repeali
ing the daylight saving law.
The president said he returned the
bill without his approval with "the
utmost reluctance" because he realized
"the very considerable, and in
some respects very serious inconveniences
to which the daylight savings
law subjects the farmers of the country."
The president's message vetoing
the bill follows:
President's Message.
"To the House of Representatives:
I return this bill, H. R. 3854, "an
act for the repeal of the daylight
saving law" without my signature,
I hut do so with thp utmost rplnr?tflrirp.
I realize the very considerable and
in some respects very serious inconveniences
to which the daylight saving
law subjects the farmers of the
I country, to whom we owe the greatest
consideration and who distinguished
themselves during these recent
years of war and want by patriotic
endeavors worthy of all praise. But
j I have been obliged to balance one [
| set of disadvantages against another !
1 J 4-~ 4- ? J 4-~
, ?.iiu tu vciauie a juugmeni/ as tu ,
which were the more* serious for the j
j country. The immediate and press- j
j ing need of the country is produc- j
{tion, increased and increasing pro- !
| duction, in all lines of industry. The j
disorganization and dislocation ;
caused by the war have told nowhere j
so heavily as at the industrial cen-!
! ters?in manufacture and in the !
j many industries to which the country
j and the whole world must look to
supply needs which cannot be ignored
or postponed. It is to these
j that the daylight saving law is of
! most service. It ministers to econI
j omy and to efficiency and the interest
of the farmers is not in all rei
i
?
Conde
The Natioi
I Newb
! From report
1 Showing Conditioi
? ???????????__?_
j
RESOURCES
Loans and Investments . . .
I
!
| Liberty Bends and Treasury Certificates
of Indebtedness . . .
United States Bonds ....
Cash and due from Banks and
United States Treasury . . .
THE NATIONA
9
B. C MATTHEWS,
President.
State, Coun
Member
\
t
r 111 hi i ???ia?a?i?tw???? ?PXKtvjtW
spects separated from these inter-1 d;
ests. He needs what the factory j P
produces alonjj with the rest of the j R
world. He is profited by the pros- w
perity which their sucess brings n
about. His own life and methods ci
are more easily adjusted I venture a
to think, than those of the manufac- 11<
turer and the merchant.
"These are the considerations j w
which have led me to withhold my j u
signature from this repeal. I hope f>
that they are considerations which w
will appeal to the thoughtful judg- a
ment of the house and in the long j v
run to the thoughtful judgment of j
flip farmers of the countrv who have i c
always shown an admirable public f
spirit." a
Republican house leaders said they ! h
had not determined what they might c
do in the matter of again attempting e
to pass the daylight repeal over the n
president's veto. There will be no o
decision until the message is laid v
formally before the house, which p
probably will be when the house c
meets again Monday. C
PRINCE OF WALES P
WARMLY GREETED ,a
It
Son of King George Returns to War i
Vessel After Enthusiastic Re- ^
ception in St. Johns.
St. Johns, N. F., Aug. 15.?After is
having received a royal reception to- f
i 8^
I Try thisPowdere
HIIUIIIH 9
Saves TIME?Saves W
Your Groa
1844
nsed State
OF
ial Bank of
erry, South Car
to the Comptroller of th<
\ at the Close of Busii
$1,020,518.48 Capital Stock . .
Surplus and Uadivic
207.210.00 Circulation . .
Deposits
100,000.00 Dividends unpaid
Bills Payable (seen
Bonds) . .
126,697.79
Bills Payable and I
$1,454,426.27
L BANK OF NEW
T. K. JOHNSTONE,
Cashier.
ty and City
Federal Reserve S
4
KMjLwmt mpiwjgirmnw n tmwm vmmmmmmm* mmmiii wiwrnym?
ay?his first on Canadian soil?the
rince of Wales, accompanied by Sir
obert Borden, premier of Canada,
ho will accompany him to Quebec,
iturned tonight to the British
ruiser Dragon and there played host
t an official diirier before sailinf
jmorrow for Halifax.
The royal visitor received cheers
rithout number from the thousands
'ho lined his route to the water
ront and pressed on to the pier to
hich he was escorted by provincial
nd city officials. His farewell there
ras without formal utterance.
The day, although marred by inlement
weather, brought crowds
rom all parts of New Brunswick to
dd to the cheering hosts already
ere to welcome the prince. Reeption
after reception was accordd
him and enthusiastic gatherings
i. l: -
net mm everywnere. rrum tne armry,
where he was fir^t officially
welcomed in formal addresses to the
rovince of New Brunswick and the
ity of St. Johns, and the Union
)lub, where he was entertained at
uncheon by Premier Fc^er, the
irince went to the government house
,t Rothesay, where an elaborate reeption
was arranged for him by
iieutenant Governor and Mrs. Pugsey.
One little flower to a living man
5 worth more than a wagon load of
loral emblems to a dead one.
jwWav to
i^e Soap!-|
Just a tablespoonful of GRANDVIA,
the wonderful powdered
;oap in the water. That takes the
jlace of all the chipping, slicing |
>nd rubbing that you dTo now
whenever you wash or clean.
\nd you save soap. You know
list how much to use.
ten't it simple? What woman would
>ut up with the fuss and bother of
>ar soap lying around and wasting '
iway, when she can now have this 1
oarvelous powdered soap,
\d_Soap Today!
owdered Soap
rORK?Saves SOAP I
?r Has It! [
i
iment
Newberry
olina
i Currency
less June 30, 1919
LIABILITIES'
|
100,600.00
led Profits . . 28,294.10 f
.... 96,800.(k> |
.... 770,083.33
. . . ; . 5,052.00
red by Liberty
.... 192,000.00
{edisceuots . 262,196.84
- $1,454,426.27
BERRY, S. C.
xxt \ir /->n/M?rn
w. w. ^r\wivin,i\
Assistant Cashier.
Depository i
v stern
L