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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1903 Excerpt: ...they let it be quietly The offensive placards. known that a driver who knocked one of them down and destroyed it would not be punished for carelessness. Some of these signs were still in existence when Mr. Frick bought the works. There were also defects in the operating department; so that large quantities of second-and third-rate rails accumulated in the yards. The dissatisfaction of the owners with the management was augmented by several serious losses growing out of undesirable contracts. In fairness to the managers, however, it should be confessed that they were really obliged to take these contracts in order to keep running; for the rail pool, at the instigation of the Carnegies, constantly headed them off from all desirable business, and obliged them to take such orders as no mill in the pool wanted. As a result the stockholders were soon called upon for additional capital. First $100,000 was called for; then twice as much. This the stockholders refused; and Mr. William G. Park had to pay it all. So that a suggestion from Mr. Frick that the Carnegie Company might buy the property at a bargain found Mr. Park in a particularly receptive mood. The price first talked about by Mr. Frick--$600,000--was considered too low by Mr. Park, as no doubt it was. The works had cost nearly twice that sum. They had made as much as five hundred tons of rails and billets in twenty-four hours; and while their cost from pig-iron to rails was high--$8.14 in October, 1889--the stockholders were loath to accept any very great loss. On the other hand, Mr. Frick showed no disposition to increase the bid which he had thrown out in a tentative way; and so the thing dragged on for nearly a year. During this time Mr. Park obtained options on his partners' holdings; and when the neg...

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