t I Hie
GUARANTEED THE
,ECOND PART
Paes 91 6
vol. XXIII.
0"
Charles M. Schwab
No career in American industrial life
has been more spectacular than that
of Charles M. Schwab, says the New
York Times. Born amid very humble
t;i!ri';)i;nuings and self-educated, he was
ir the age of 39 elected president of
iy largest corporation in the world
tii.. I'nited States Steel Corporation
a't a .salary generally understood to be
(iljuui.coO a year.
in the steyel trust, Mr. Schwab is
g, u. ;aliy considered as the representa
tive ( i Andrew Carnegie, who holds
o piior lien on the entire property of
iu i-onvration in the $305,000,000 of
aid to him for his Carnegie
. . . i ; i- ik r r-i , i
u'fi M;'ls- 01 wiucii ivir. Bcnwao wTas
then pi ' shlent. In fact, there has been
a wiuc-nread belief that one of the
ton Virions attached to the sale of the
Carnegie mills was that Mr. Schwab
should become the head of the combi
nation to lu- formed,
in dates and facts Mr. Schwab's
aveev may no very Drieny summarized.
...Mi: - i T-fc l l -i . i
Jurn at lmambuui g, rn., reu. is,
. . . . .... J-1 rt 4-4. rt ,3 .1
, : ; p. km pai cuts, ub aneuueu
;j ci ..miliary school until he was
. :i yeais of age, and then began
;i:ig in a grocery store at $2.50 a
,. At eighteen he obtained work in
l-Yigar Thompson steel works at
lock. Pa., at $1 a day.
at twenty-five years of age,
was chief engineer cf the
iad built the Homesetad
He turned out of the Car
i its first armor steel plate,
e was made general superin-
jf the Thompson mills, ana in
directed both the Thompson
Homestead mills. In 189G he
cited a member of the board of
I f crs. and in 1897 president of the
. e;:ie,ste?I mills. He drew a salary
.50,000, with an interest in the
'rant of business done by the com-
j . i urn lunuwcu liic ciccLiuii l unc
ee" trv.'st presidency in 1901, with the
enonr.on.s salary.
$iniv his election to the head of the
steel trust, Mr. Schwab has been a
Macular figure in both the social
ami financial world. He has been very
Jjijml with his money, and has spent
wr-U ni ?ivpn nwav laree sums cf
it.
One incident of his liberality occur
red last winter. A newspaper was rais
ing a fund for certain relief purposes.
Reporters from the paper were sent to
solicit subscriptions. One reporter was
assigned to see Mr. Schwab. He very
reluctantly explained his mission to the
steel trust president, whereupon Mr.
Schwab promptly (Trew a. ioll of bills
from his pocket and handed the re
porter $2,500.
Mr. Schwab took a trip to Europe
last winter, during which time he was
almost continually in the public eye.
First, he went to Monte Carlo'. Ex
travagant reports came back by cable
of his winnings and losses at the gamb
ling table. There was widespread com
ment upon these reports, and it cur
rently reported in Wall street though
subsequently denied that J. P. Mor
gan & Co., cabled to Mr.: Schwab in-
KING EDWARD'S HEAD.
It is of Average Size, Indicative of a
Practical Mind.
King Edward VII has not a large
head, though it is rather above aver
age size, and is indicative of a very
practical type of mind.
According to the Hatters' Gazette,
his Majesty wears a 6 7-S hat; thus the
circumference measurement where the
hat is worn is 21 3-4 inches, and the
measurement around the perceptives as
nearly as possible 2212 inches. His Ma
jesty'?; head is rather wide and power
fully developed at the base of the brain
and in the regions of the perceptive or
gans. His leading phrenological or
gans and those which influence his
character the greatest are strong pow
ers of observation, combined with large
friendship, amativeness, benevolence,
agrec-ableness, alimentiveness, com
parison, imitation, sublimity, venera
tion, hope, language and executiveness.
His weakest organ is concentrative
ne,ss. His Majesty is exceedingly warm
hearted, friendly .adaptable, generous
minded, -sympathetic, respectful, gal
lant, polite, sensitive in his feelings
and very companionable; is not largely
factious, not over firm; has strong ap
petites, is a natural sportsman and
loves traveling and outdoor pastimes
and pursuits.
Intellectually he is very observant,
tact-gathering, apt in perceiving com
parisons, very inquiring, likes to en
gage in big concerns; ' cannot tolerate
meanness; is practical in his views and
y ry impartial. His large ideality and
'Diimity give him an appreciation of
J nat . is beautiful, sublime and magni-m-Pntly
grand. He is fond of change
j var'ety. He possesses good plan
ting and executive powers, and is fair
- intuitive, but not a first-rate judge
lJi character ani j
fir 'l- luuuvrs, aim liiuo
'as it. difficult to resist what seems to
mm to ,p ihn , ii ... ..... .x.
to be
Of rt- n-iJJ.caillllg lilieiltlLUlO
""icis toward
i M'enologist.
him. The Popular
tnr ' "unmer, an electrical inven-J
teiPnh n' ceeded recently in
wir?ip?amg seven kilometers by -his
tireless method.
2n nSft P ' s mail is enormous. From
Si pt8 et 'T letters and newspapers
et the Vatican m received each day
A tl
J)
Sad
;
S3
quiring into the truth of the reports,
and advising no mere gambling. The
stories of the Monte Carlo winnings
and losses thereupon ceased.
When next heard of Mr. Schwab was
in Vienna. He was accorded a most
gracious reception by the emperor of
Austria, and it was reported that the
emperor wanted to see Mr. Schwab
again, but, found it impossible to ar
range it. Then the steel trust president
went to London, and King Edward and
he had a half hour's talk, the details of
which were more or less fully reported.
Another spectacular feat of Mr.
Schwab was to purchase the lot at
Riverside drive, Seventy-third street
and west End avenue, formerly occu
pied by an .orphan asylum. In a recent
number of a New York weekly there
was a picture cf this house, made from
architect's designs, and it was evident
from the pictures that this was to be
the most gorgeous private residence in
America. The entire investment, house
and lot, was expected to amount to
about $5,000,000.
Since coming to New York to reside
Mr. Schwab has has lived at the Waldorf-Astoria
hotel. He has been fre
qeuntly seen in the dining room there,
giving elaborate dinners. He ha also
been very much interested in automo
mobiles and has made several cross
country trips at a very hazardous rate
of soeed.
Mrs. Schwab was, before her marri
age, Emma E. Dinkey, of Loretto, Pa.
She and Mr. Schwab were married
when he was 21 years of age. The two
were playmates wThen children. The
couple have done a large amount of
entertaining since their life centered
in New York. They are childless.
Mr. Schwab was taken suddenly ill
while driving at Atlantic City, where
he has a country residence, cn July 26,
His condition then was such as to very
greatly alarm his family and friends.
After a day of complete rest he was
able to sit up, but for several days
he was compelled to take his outdoor
exercise in a roller chair.
This illness of Mr. Schwab, it was
currently reported gave premonitory
symptoms of prostration. There was
little need of medicine, and the doctors
prescribed complete rest. A week later
Mr. Schwab went to Pittsburg. Since
"then there have been almost daily re
ports that Mr. Schwab was about to
retire.
SCHWAB'S ADVICE TO YOUNG
MEN ON HOW TO SUCCEED.
First Be honest and straightfor
ward. Second Don't get a job through in
fluence. No true success is built on the
influence of others. Depend on your
self. Third Do what you are employed to
do better than any one else employed
about you can. do it. Pro'moticn will
surely follow.
Fourth Be interested in what you
are doing, and don't watch the clock
for quitting time. Be too absorbed in
your work to know what time of day it
is.
Fifth A college education is not
necessary for a successful business
career.
Sixth Work!
POINTED PARAGRAPHS.
(Chicago News.)
A cat, never cries over spilled milk.
A man has to learn to like babies
and eat olives.
Dyspepsia sours a lot of the milk of
human kindness.
Money and poor relations are the
two roots cf some evils.
When poverty looks in at the win
dow love vacates the roost.
Occasionally a girl marries her ideal,
bue he soon outgrows it.
It takes the plowshare of effort to
open the furrow of success.
Selfish people ?;2ver laugh unless
they can do so X''the expense of oth
ers. Often the spirit of perseverance
strikes a man hardest when he is in
the wrong.
Death may not be contagious, yet
when a man dies politically his rail
road pass also expires.
Some men frankly admit they can't
sing, but the man never lived who
didn't-think he had a keen sense of
humor.
Marks Of Distinction.
An untown4 reader tells of the
"break" made by a little tot of the
family who was one of a party of little
girls at. a recent strawberry festival in
the vicinity of her home. She had
been valiantly boasting of the manifold
advantages of belonging to- her family,
and had managed to hold her own
against the vainglorious and ingenuous
discourses of her companions. They
had gone from clothes to personal ap
pearances, then to interior furnishings,
then to the number of tons consumed
in the home of each during the last
winter and finally brought up at paren
tal dignity. The minister's little girl
biasted:
"Every package that comes for my
papa is marked 'D. D. !' "
"An' every package that comes for
my papa is marked 'M. D.!'" retorted
the daughter of a physician of the
' neighborhood.
Then came a fine short of contempt
from the heroine of this anecdote.
"Huh!" she exclaimed. "Every pack
age that comes to our house is marked
'C. O. D.!' There, now" Philadelphia
Times.
LARGEST
CHARLOTTE, N. C. SATURDAY EVENING, AUGUST
f ff f
WEALTH WHICH MORGAN HAS A VOICE IN CONTROLLING.
I The properties in which J. P. Morgan & Co., are interested, either I
fa rough control, through membership on their boards, through financing 4
them or by reason of acting-as their fiscal agents, says the New York I
I World, are, with their capitalizati on, as follows, according to lists furn- f
I iShed by the financial agencies: ' I
I SHIPS.
Atlantic Steamship Co
..$170,000,000
4 RAILROADS.
Northern Securities Co . .
y Northern Pacific
400,000,000
333,000.000
22,000,000
2C6.000.000
320,000,000
170,000,000
300,000,000
350,000,000
175.000,000
4BO.000.000
2,000,000
15.500,000
Great Northern
T Burlington
A
i
Reading
I Louisville & Nashville ..
Southern. . . . . .
I Erie
Leh igh-- Valley
4- Atchison
British Electric Traction
4- Moncn . ,
I Plant System 25,000.000
T New York Central 235,000,000
J N. Y., N. H. & H 100,000,000
I Hocking Valley 15,000,000
International Traction . . 10,000,003
Total $3,088,500,000
INDUSTRIALS.
t United States Steel Cor. .1,400,000,000
1 American Can Company . 88,000,000
I Northe American Co 12,000,000
4-General Electric 50,000,000
Goods Company.
-f U. S. Rubber Company . .
J Pullman Company
TAd?ms Express Company
j Niagara Falls Power Co.
52,000,000
74,000,000
24,000,000
10,000,000
Coal Trust 100,000,000
Salmon Cannong Trust
30,000,000
155,000,000
3,250,000
Amalgamated Copper Co.
Keystone Watch Case Co
I Total .... ..$2,022,250,000
t BANKS.
I National City 40,000,000
First National 20,000,000
Bank of Commerce 20,000,000
f 4 f 4- r
i
f 4 I is
1
V"
- Jf
9 v. f.
r-A
4
MISS CATHLEEN NEILS0N, WHO IS TO MARRY REGINALD
VANDERBiLT.
The most important society event scheduled for the early winter will be
the marriage of Reginald Vanderbilt to Miss Cathleen Neilson. Young Mr.
Vanderbilt is just twenty-one and is the youngest son of the late Cornelius
Vanderbilt. Miss Neilson is of the famous Gebhard family. She is not only
a beauty and an heiress, but she brings to the Vanderbilt family the social
prestige of Knickerbocker ancestry.
Premiums On Gold Dollars.
The United States gold dollar is so
scarce , that dealers in old and rare
coins are advertising everywhere for
them, offering from $1.50 to $3 apiece
for as many as they can get.
Since 1889 the United States mints
have not coined any gold dollars.
Since then their value has increased
steadily.
In the mint in this city, where the
dies for all United States currency are
made, a reporter was yesterday-given
the present value of a gold dollar of
1889
Those marked C (Carson City) are
worth" from $1.70 to $2.50. Those mark
ed D (Denver) are worth from $2 to
$2.50; those marked S (San Francisco)
are worth from $2 to $3, and those
without any mark, indicating they
were minted at Philadelphia ar worth
from $1.50 to $1.70. Philadelphia
Times.
OIEQUL AT
Standard Trust Company $1 00,000.000 T
Chase National 4,000,000 1
N. Y. Sec. & Trust Co . . . 1,000.000 I
Guaranty Trust Company 2,000,000
Total S18J.000.000
MISCELLANEOUS.
West. Union Tel Co.
Pacific Cable Company . .
Mexican Telegraph Co. ..
N. Y. Life Insurance Co..
Mutual Life Ins. Co
Harper & Bros
Met. Opera & R. E. Co..
Madison Square Garden..
Associated Merchants' Co
Aetna Fire Insurance Co.,
West Shore and Ontario
Terminal Co., Jessup &
Moore Paper Co., Lehigh
Valley Transportation Co.
Missouri Railway Cons
truction Co., New York
Standard W7atch Co Penn
sylvania Mutual Life In
surance Co. Bank of Sav
ings, Cataract Construc
tion Co. Com. Union
Assurance Co., Commer
Union Fire Insurance Co.
Niagara Developing Co.,
North British & Mercan
tile Life Insurance Co. of
London and Edinburgh,
North British and Mercan
tile Insurance Co. of New
York. Outing Publishing
Co. and scores of smaller
corporations not yet Mor-
97,000,000 I
10,000,000
2,000,0001
200,000,000
353.000,0-CO 4
3,500,000 I
3,250,000 i
2,000,000 -f
20,000,000
T
1
ganized into a trust .' 200,000,000
Total .. ...$9S0,750,000 -f
Grand total
.$6,448,500,000
a '--1
X
m
v. y
SIT?
An Agricultural Simile.
The members of the Amish, a pecu
liar religious sect, mostly agriculturists
notes the New York Tribune, are very
numerous in Lancaster county, Pa. An
orator sought to impress a gathering
near Paradise, in that county, with his
logic, bringing himself down to the
level of his listeners by a claim of rural
birth. "Why, I was raised between two
hills of corn," he declared, "and God's
sunshine has ever shone upon me."
For a moment there was a pause, and
the politician, fancying he had made
an impression, was about to continue
his harangue, when a big Amishman in
the rear of the hall interrupted: "A
pumpkin I know what he means."
Before the Siberian railway was
available, a trip from London to
Shanghai cost from $325 to 2.75. Now
it can be made for from $65, third
class, to $160, first class.
1 4
ION IN
30, 1902.
J Pierpont Morgan
When J. Pierpont Morgan was a
student at Heidelberg University, 'he
developed such an extriordinary apti
tude for mathematics that he was of
fered a professorship in that science
at the time of his graduation.
His father wanted him to continue
the fortunes of the great banking
house, and the cap and gown lost a
shining light. It is told that a short
time after Morgan had left college a
friend met his father and asked how
the boy was getting on.
"Why that boy will break the whole
world one of these days," replied the
eider Morgan.
In the unpretentious corner office
at 23 Wall street, where the firm of
J. P. Morgan & Co. sits in control of
the finances of many of this country's
industries, the extravagant prediction
of the elder Morgan is never thought
of. The whole world already looks
to that office for its cue whenever, any
transaction involving millions-wheth-er
it be a war or a coal strike, an
amalgamation of steamship and rail
road lines or the financing of a bank
rupt kingdom is up for discussion.
TWELVE PARTNERS IN FIRM.
There are 12 partners in the firm
and 11 of them look after details of
the great schemes which have given
to the language a new word, "Mor
ganizing." There is only one Morgan
on whose life English investors and
speculators take out insurance poli
cies paying 9 per cent, premium.
The amount of capital under con
trol from the office at Broad and Wall
streets is perhaps greater than the
total amount of gold coin in the world.
It represents such wrealth and power
as never before was centralized in
the hands of one man.
Seven of the twelve partners in the
firm of J. P. Morgan & Co. are direc
tors in one or more of the great cor
porations or trusts which mark this
era of centralized capital. The mere
list of these companies in whose af
fairs no move can be made without
consultation at 23 Wall street inspires
the deference due from a dollar to
a million dollars.
But there are vast combinations of
capital, unions of powerful corpora
tions vhose affairs are being handled
by J. P. Morgan & Co., in whose di
rectorate no member of the firm ever
. "Papa, what is 'inertia'?"
"Well, if I have it, it is pure laziness,
but if your mother has it, it is ner
vous prostration."
"Is the manager up-to-date?"
"Up-to-date! Why, he's just intro-1
duced a game of ping-pong in the bal
cony scene in 'Romeo and Juliet'!"
The Maid I see they have now a
"Woman's Dictionary." Do you suppose
it differs from any other?
The Brute Probably has more words
in it.
She Do you
love me for
myself
alone, dearest? k
He Of course I do. You don t sup -
pose I want your mother about you all
the time, do you?
Day Has old Timelock forgiven you
for eloping with his daughter?
Weeks Forgiven me? I haven't ask
ed him since I discovered he ordered
the carriage in which we ran away.
It is discouraging, to say the least,
to a young man who has been tenderly
nursing a few straggling hairs on his
upper lip for three months to have his
girl say: "Oh, Charley, why den't you
let your mustache grow?"
Tourist (after unusually long stop
page at small border station) I say,
guard, why aren't we going on? Any
thing wrong?
Guard, (who is peacefully taking his
lunch) There's naething wrong, sir,
but I canna whustle the noo; ma
mouth's fu' o' biscuits!
IN KENTUCKY.
"He called me a liar," said the col
onel, telling a story
"And what did you do?" inquired a
listener.
"Um-er," hesitated the colonel, "I in
creased the mortality rate in his coun
ty." "I trust, Miss Cutting," remarked
young Borem, as he rose to depart
after a prolonged stay, "that I have not
taken up too much of your valuable
time."
"Not at all, Mr. Borem," replied the
fair damsel; "the time you have taken
up has been of no value to me what
ever, I assure you."
Then he went forth into the night
and wandered homeward wrapped in a
heavy mantle of thought.
A FUND Ol
THE
CITY
ixteee
P a 2: e s
NO. 5351
an
sits. They are known as Morgan
companies.
The members of the firm of J. P.
Morgan & Co. are his son, J. P. Mor
gan. Jr.,; George C. Thomas, Edward
F. Whitney, James W. Paul, Jr., Ed
ward H. Robinson, Edward T. Stotes
bury, Robert Bacon, Temple Bowdoin,
William Pierson Hamilton, Charles
Steele, George W. Perkins and J.
Pierpont Morgan.
FIVE NOT IN MORGAN BOARD.
According to the public records, no
one of the five first named sits as a
director in a corporation. Temple
Bowdoia is named as a director only
the Chicago, Indianapolis and Louis
ville Railroad and the South Carolina
and Georgia Railroad Company, but
George S. Bowdoin, whose office also
is at 23 Wall street, has an active
hand in the direction of a dozen great
corporations as a member of the
boards of directors.
William Pierson Hamilton, another
partner, appears in the financial di
rectories only as a director or trustee
in three companies, the National
Tube, the North British and Mercan
tile Insurance Company of London
and Edinburg, and the North British
and Mercantile Insurance Company
of New York.
Even George W. Perkins, to whom
the detail of the great coal strike was
referred by Mr. Morgan when Bish
op Potter broached the subject of a
settlement on their recent trip across
the Atlantic together, is named as a
director in only four companies.
But the remaining partners could
spend their entire time attending di
rector's meetings, had they no more
important use for their business
hours.
Morgan .& Co. are interested direct
ly or indirectly in a great many of
the leading concerns of the country.
The total capitalization of such prop
erties is estimated at $6,448,500,000.
Beside this vast sum. other great
accumulations look small. The gold
coin and the gold certificates in the
United States Treasury only amount
to about $550,000,000, and yet this is
unprecedented. ,
All the gold coined and uncoined in
the whole world is estimated at $4,
881,000,000. - The - total number . ot, human .beings,
in the world is estimated at 1,320,
000,000. . '
The public debt of the United
States 30, 1900, was $1,107,711,257.
The entire revenue of the forty
three principal nations of the world
for the year 1900 was $5,888,382,563.
fliU
When you see a young woman mak
ing a fuss over a widower's children,
it's a sign that if she doesn't soon ac
quire a right to correct them it won't
be her fault.
A. That woman who just went out
is the partner of your joys and sorrows,
I suppose?
.:B She's partner to my joys all
right, but when it comes to my sorrows
she slips over to see her mother.
The latest device of girlkood is a
fancy for stuffing pillows with their
old love-letters. There is one thing
about the contents of these pillows
, that can be departed upon with a
; sure to be soft.
Ma You promised me before marri
age that you wTould use every effort to
make yourself worthy of me.
Pa I know I did, and the result was
that I overdid it and made myself bet
ter than you deserve.
CONDITIONS.
City Man. (looking for summer
board) What are the meteorological
conditions in this neighborhood?
Farmer Oh, they're all right. They
ain't no meteors fell in 15 years.
Jcnes Brown is an unlucky dog.
Smith How's that?
Jones His object in marrying was to
get out of a boarding house.
Jones Now his wife is running one
to support the family.
CASABIANCA.
The boy stood on the burning deck,
Playing ping-pong in the wreck;
His father called -him, but he would
not go,
Because he loved the ping-pong so.
THE TROUBLE.
Roan What's the matter with the
mare?
Sorrel She's mad because she thinks
her hat isn't on straight.
BEHIND THE TIMES.
"What is it?" he asked breathlessly.
"A runaway horse?"
They looked at him in derision. "A
runawray horse? No! a balky automo
bile." A GOOD IMITATION OF SUCCESS,
Frederick rPoor Felix, he is a sad
dening failure!
Eugene Failure? He has got near
ly through life without ever doing a
day's work.
MOR