THE NENANA DAILY NEWS
Application made April 1, 1918. mt the postoffice at Kenana. Alaska,
for eniry as second class mail matter, under the Act of March 3, 1879.
“WHERE RAIL AND RIVER MEET”
Published every afternoon except Sunday, by the Kenana Printing
Company, at First and B Streets, Nenana, Alaska.
Owned and Edited by
R. G. SOUTHWORTH ARTHUR G. BELL
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MEMBER OF THE ASSOCIATED PRESS
The Associated Press is exclusively entitled to the use for re-publi
cation of all news dispatches credited to it or not otherwise credited in
this paper and also all the local news published herein.
HENRY CLAY FRICK.
The career of Henry Clay Fric
has -formed one of the most fascir
ating chapters in the romance o
industry in the United States. A
ten, a boy on a farm in a family o
enlv ordinary means, he was, a
sixty, a man of so many million
that his fortune, like those of Car
negic and Rockefeller, was largel,
a matter of guesswork, even to him
self. It has been said he was wort!
more than $100,000,000, perhaps a
much as $200,000,000.
Mr. Frick built up the greates
coke business the world, and ac
quired such vast interests in stee
that he was also one of the principa
magnates in that industry, and i:
rounding out his career he becaim
known as one of the world’s great
cst collectors of master paintings.
Mr. Frick was born December 19
1849, at West Overton, Pa. Thi
village was named after the ma
terna! grandfather of Mr. Frick
Abram Overholt, whose original fam
ily name was Oberholtzer, and win
settled in Western Pennsylvania
when that region was regarded a
the frontier of civilization. As thi
settlements along the Allegheny an(
the Monongahela grew, ar.d Pitts
burgh emerged from its swaddling
clothes. Mr. Overholt became th<
leading miller and distiller of West
ern Pennsylvania. His daughter
Elizabeth, married John W. Frick
a young man of Swiss ancestry, wh<
at that time was working as ai
engineer in the Overholt distillery
It was from this union that th
future capitalist was bom. Tin
father attempted farming, but di<
not make a remarkable success o
it. and as a result young Henr;
Clay Frick was practically adopte
into the Overholt family when h
was about 12 years old. He re
reived a good basic schooling, bu
there was nothing in his boyhood t'
indicate the remarkable ability whic!
characterized his later life, excep
his eagerness to get into business
For a time he was bookkeeper i:
his grandfather's distillery, and fron
this position he went to Morgan 6
Co., coke dealers, and at about 2
years of age he appeared in Pitt;
burgh as their agent. The coke in
dustry was in its infancy. Th
iron masters of Pittsburgh were jus
beginning to appreciate the value o
coke for their furnaces. Youni
Frick had an opportunity to acquir
a limited interest in a plant nea
Broadford, and out of the profit
of this he acquired other holding:
He later joined a company to buil
a railroad to penetrate the Con
nelsville coke region, and in 1871
the year this road was opened. Mi
Frick organized the corporation o
Frick & Co., which bought coal lan
and coke ovens in the Connelsvill
region. That was the basis of th
Frick fortune. The undivided at
tention of the rising financier wa
given to coke until 1882.
In the midst of this period ther
came the panic of ’73 and the finan
cial crash of many ambitious oper
ators. At a sheriff’s sale Mr. Fric!
purchased additional tracts of coa
land and ovens, and a few year
later the Mellons, powerful Pitts
burgh bankers, became interested h
i the expanding enterprise of the
young operator.
v I The Carnegies, then developing
- their great steel business in Pitts*
^ burgh, had taken large holdings in
1 (the Prick coke company, and in
f 1882 Mr. Frick found the Carnegie
' ^ brothers willing to admit him as a
5 member of their firm in considera
- ^ tion of his giving them further in
'' terests in his coke business. It was
-jthus Mr. Frick became also a great
i; manufacturer of steel.
> Through the Homestead strike of
1892. Mr. Frick came into national
: j prominence. Differences had arisen
:j between the Carnegie Steel compa
1 j ny and its employes over a wage
!; scale, culminating in a strike in
1 voicing thousands of men; the call
' ing out of the National Guard and
the proclamation of martial law. It
i was at this period—July 22. 1892—
. ;that Alexander Berkman. a New
; I York anarchist, tried to assassinate
; Mr. Frick. Berkman walked into
;Mr. Frick’s office, drew a revolver
| and fired, the bullet lodging in Mr.
'Frick’s neck. Mr. Frick was shot
• a second time and then grappled
with Berkman. During the encoun
' ter, Mr. Frick was stabbed three
i jtimes, but he downed his assailant
and held him until the police ar
1 rived. Berkman was tried and sent
|to the Western penitentiary in Pitts
burgh for 21 years.
• Thirteen days after the attack,
.Mr. Frick walked to his office unat
1 ’tended and resumed the direction of
1 the great strike, which continued
until November 21 of that year.
Mr. Frick was unmoved by the
' violence and protests of the public
■ of the distress of the families of
the strikers. He won, and never
begrudged the price of victory.
When Mr. Frick entered the Car
■ .regie Steel company he decided to
■ make it the most powerful concern
i in the steel world. Two of his im
• mediate ventures netted the Car
i regie concern many millions of dol
: lars with scarcely any investment.
Lp to this time the switching
i charges between the various Carne
i gie plants had been very profitabla
: to the railroads and expensive to
-he Carnegie company. Mr. Frick
- built the Union railroad to weld the
- scattered Carnegie plants closer to
; gether. This eliminated the switeh
t ing charges and saved enormous
f sums for the Carnegie company.
: It was Mr. Frick who later took
■ over a large portion of the Mesaba
r ore fields on Lake Superior in a
5 . big deal that guaranteed the Car
. regie company for fifty years a
1 minimum supply of 1,200,000 tons
- of ore, driving a shrewd bargain
, w'ith the Rockefellers, who owned
. ihese ore lands.
f Later. Mr. Frick conceived the
i proposition of buying out Mr. Car
: negie entirely, and in association
- \ with Henry Phipps, the second larg
- est owner of stocks, and with the
s jco-operation of E. H. Moore and
others. Mr. Frick asked Mr. Carne
?igie for an option on his interests.
-|Mr. Carnegie demanded *1.000,000
- for a ninety-day option and named
c $157,950,000 in cash and bonds for
I his entire holdings. This price, with
3 the additional cost of the stock of
- the other partners in the Carnegie
i company, brought the cost of Mr.
! Frick’s scheme close to $250,000,
i000. The matter was taken to J.
! P. Morgan, who was not impressed
with the idea. The plan collapsed,
Mr. Frick’s option expiring at a
cost of a million dollars, which Mr.
Carnegie pocketed. This was the
first failure Mr. Frick had ever
known, but it was also a blow to
Mr. Carnegie, for the failure of the
Frick syndicate left him in the po
sition of having been on the marker
with his holdings, which apparently
could not be sold.
j Mr. Carnegie became very bitter
land tried to oust Mr. Frick entirely
jfrom the steel business. They de
veloped a quarrel with many rami
Ifieations. Mr. Carnegie sought to
; have the board of managers declare
I Mr. Frick’s stock forfeited at par
J value. Mr. Frick replied with a
[suit for injunction to prevent this
confiscation of his stock, but the
suit was finally settled out of court
by the reorganization of the Car
negie company, which made several
Pittsburghers millionaires over night
:It made Mr. Frick one of the
Wealthiest men in the country, but
jit was disappointing to him when
j Carnegie, with the aid of Charles
JM. Schwab, succeeded in interesting
IMr. Morgan in the scheme he had
i previously rejected, and out of this
came the financing of the United
! States Steel corporation in 1901. By
j this again. Mr. Frick’s fortune was
[doubled. His $31,000,000 invest
jment in the Carnegie company was
j turned into $61,300,000 in the Unif
ied States Steel corporation, al
! though Carnegie had stolen his thun
der. Mr. Schwab was made presi
dent of the steel corporation and
Mr. Carnegie’s representative in
;that concern.
In 1903, times became hard and
| United States Steel dropped to a low
.level. Mr. Frick then bought ev
ierything he could in the way of
i steel stock, and when the excite
imer.t was over it was found he had
acquired enough to be a power in
that concern. His first move was
] to dethrone Mr. Schwab as presi
dent, but W. E. Corey, another Car
jnegie man. succeeded Schwab. Then
IMr. Frick attacked Corey and sue
leeeded in having him removed. Mr.
Farrell, Frick’s friend, was finally
^made president of the great cor
jporation.
The breach between Mr. Frick
land Mr. Carnegie never fully healed.
(A small instance of it was seen in
Pittsburgh, where Mr. Carnegie built
a large office building, naming it
after himself, next door to which
Mr. Frick built another building,
twice as large, and named it after
him-elf. Mr. Frick, incidentally, be
jc-ame one of the greatest holders of
real estate in Pittsburgh. In New
j York, Mr. Carnegie built a mag
Inificent borne, and some time later
Mr. Frick built an even more pala
jtial residence on the site of the old
#
m
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WANT ADS
i
FOR SALE—Four-burner blue flame
oil stove and oven, $35. Apply
| Simeon's Store.
FOR SALE—Man’s clipped bearskin
! coat, medium size, full cut, $23.
, Inquire Miss D'Orsay’s Tailo.
Shop.
ROADHOUSE FOR SALE—Inquire
| News Office. 11-29
GOOD TEAM, harness and No. 5
sleigh for sale. Inquire Knut
Koland, Third and C streets.
FOR SALE—Furnished house of five
rooms, attic, large basement and
winter cellar for vegetables. Heat
ed by furnace. Winter supply of
- vegetables. Full corner lot. One
of the most desirable parts of
town. Inquire at News office.
_ _ _
Lenox library, between 70th and
,71st streets on Fifth avenue. It
was here that be provided for a
i picture gallery which is one of the
largest, if not the largest private
gallery in the world. It contains
, some of the most valuable and
famous paintings by Velasquez.
Rembrandt. Gainsborough, and other
masters. Many of these canvases
are said to have cost Mr. Frick sev
eral thousand dollars each.
Mr. Frick also maintained a beau
tiful summer home at Prides Cross,
ing. Mass. He was one of the
largest owners of Pennsylvania rail
road stock, was one of that com
pany’s directors, and its dominating
factor. He was also a power in
Reading, Baltimore & Ohio. Norfolk
& Western, and other railroads.
On December 15, 1881, Mr. Frick
was married to Miss Ada Howard
Childes of Pittsburgh. Four chil
dren were bora to them—two boys
and two girls. Mrs. Frick, one son
and one daughter survive.
Another Silver Heresy.
Too many men seem to think that
optimism consists only of seeing the
silver lining to the other man’s
cloud.—Dearborn Independent.
Dr. J. R. BOWEN
DENTIST
Price* Most Reasonable
THE BOWEN BUILDING
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f!
r* vrw*
‘lOR SWINGS STAMPS
i UIVtD *TY THE
WITED'STATES
GOVERNMENT
YOU
CAN
BUY
WAR
SAVINGS
STAMPS
NOW
i
i
FRESH STOCK
Groceries, Clothing and Footwear
SAVE TIME AND MONEY
All Necessities for Trail and Camp
GO TO
FOWLER & MORRIS
| We Strive to Please
I EVERYTHING THE BEST f
$ -I
y V
| Tavern Cafe and Bakery1
I WM. RODICKEIT : : Proprietor
A Thoroughly Modern Hotel
The Southern
Tom Smith, Prop.
DR. R.R. MYERS
DENTIST
ARCTIC HOTEL
NENANA LODGE No. 1193
L. 0. 0. M.
MEETS AT MOOSE HALl
Fourth and B Streets
Second and Fourth Monday;
At 8:00 P. M.
ALEX FOWLER M V. TYLER
Secretary Dictator
Department of tiie Interior
Alaskan Engineering Commission
--
NOTICE
| Passengers are required to pur
,chase tickets before entering trains.
: Tickets can be purchased from
the station agent, whose office is in
i the employment office, on the ground
floor of the General Office Building.
Alaskan Engineering Commission, or
at Camp 415 (North N'enana).
Tickets will be on sale at any
t:me during office hours, and can be
■ purchased in sufficient time before
! the departure of‘ the trains.
Regular trains for the south leave
the foot of A street on Wednesdays
and Saturdays at 8 a. m.. and from
‘Camp 415 (North Xenanai, for
j Fairbanks, Tuesdays and Fridays, at
; 1 P- m.
The following is the schedule be
tween North Xenana and Fairbanks,
isubject to change without notice:
Leave Fairbanks at 7:00 a. m.:
arrive North Xenana. 11:30 a. m
< Leave North Xenana 1:00 p. m ,
arrive Fairbanks, 5:30 p. m.
No tickets will be sold crossing
* the river. Those intending to trav
el to Fairbanks must make the:.
own arrangements for reaching
.jNorth Xenana.
'-1
Trappers and Traders of Alaska
SELL YOUR FURS TO A HOME INDUSTRY. WE GUARANTEE
YOU HIGHER PRICES THAN OUTSIDE
CONCERNS W4LL PAY.
During the last season we conducted an advertising campaign
throughout the North and are prepared to send you the names of
people in all sections of Alaska and the Yukon who will verify our
statements.
Our excellent Eastern connections, and the tremendous amount
of mail order business we are receiving from all parts of the
States for furs made to order enables us to turn our stock quickly
at a reasonable profit, but we must have fur, for which we guar
antee top prices.
Make us a trial shipment. If our price does not suit you, the
goods will be returned charges prepaid.
WE MAKE FURS TO ORDER
at more reasonable rates than can be obtained Outside. At present
we are working three operators, and need others. If you are an
operator and finisher, and want a good year-around job, com
municate with us.
CHAS. GOLDSTEIN & CO.
JUNEAU, ALASKA
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