FOUNDATION OF MR CARNEGIE’S FORTUNE.

Lake County Press, Issue 979, 12 September 1901, Page 7

FOUNDATION OF MR CARNEGIE’S FORTUNE.

In an interview with a representative of the ‘Church Family Newspaper,' Mr Andrew Carnegie describes Ids rise from the position of messenger in the local telegraph office at Pittsburg to his present position. After relating how he was promoted from messenger boy to clerk and operator, Air Carnegie said : “My great opportunity of becoming a capitalist arrived when one day Air Scott, the superintendent, asked me if I had 500 dollars to invest in business. I replied that I thought I could'manage it, though where I was'to get the money from I hardly knew. Fortunately, we had saved enough money to purchase our own house. R was worth 800 dollars. The family decided to raise the money on a mortgage of the house, and with this start - for which I have to thank my mother principally —I became the possessor of ten shares of Adams Express Company stock, which paid monthly dividends of 1 per cent. This laid the foundation of my fortunes —one stone, at least, of the foundations." “And the second stone?” " That was laid when one day a gentleman on the railroad showed me a model of the first sleeping-car, of which he was the inventor. His name was Woodruff. 1 took him to Air Scott, who liked the idea, and 1 agreed that two trial cars should be put on the Pennsylvania Railroad. '1 hen Woodruff offered me an interest in the venture, which 1 promptly accepted. But that interest was to cost me 217 dollars a month, and 1 was at my wits ends to find so much money. Fortunately. 1 bethought myself of'applying to the local banker for a. loan of the first 217 dollars, which J promised to repay at the rate of 15 dollars a. month, feeling certain that I should be able to repay the subsequent monthly payments out of the receipts from the sleeping cars. The loan was granted, and so the second stone in the foundation of my fortunes was laid. The Woodruff Sleeping Car Company became a gigantic success. It was afterwards absorbed by Pullman." “And the third stone in the Inundation of your fortunes?" “That was laid when I organised a company in Pittsburg to build iron railway bridges to take Iho place of the old wooden bridges, which 1 saw were doomed. Again 1 had recourse to the bank, which lent me 1,250 dollars, my share of the capital. We started the Keystone Bridge Works, and it became a huge success. This company built some of the most important iron bridges in America. “] was now a full fledged manufacturer, and able to give up my position as an officer of the Pennsylvania Railroad Company. There is no fun in working for others when you are able to set up in business on your own account. ‘Always try to become your own master’—that is my advice to every young man starting in life. Don't remain a. servant all your days if you can help it."