CARNEGE’S WEALTH

Gisborne Times, Volume V, Issue 85, 19 April 1901, Page 2

CARNEGE’S WEALTH

A WHITE MILLIONAIRE. - HIS GENEROSITY. [By Telegraph.] (Per mail steamer at Auckland.) San Francisco, March 20. Mr Andrew Carnegie, sometimes called the “ Steel King,” has signalised his retirement from activo business by somo magnificent gifts. Mr Carnegie had already givon millions in various benefactions, but ho has declared lie means to dispose of his entiro fortune, estimated to bo at least two hundred millions of dollars, before he dies.

Upon his retirement Mr Carnegie gave five million dollars for tho endowment of a fund for tho superannuated and disabled employees of tho Carnegie Company. The fund will in no wise interfere with the continuance of the saving fund established by tho company fiftoen years ago for the benefit of employees. In tho latter fund nearly two million dollars of employees’ savings-.are invested, and upon this the company pays by contract six per cent, interest, and makes loans to workmen for building homes. In a letter to tho peoplo Mr Carnegio assures them that his troasure is still in their city, and ho intends hereafter to dcvoto himsolf there largely to institute a technical school, which he regards as tho chief work of his life, at least from this time on.

Mr Carnegie expresses his belief that an old man should not spend timo in a struggle to make “mickle mair,” but in making good use of what has boon already acquired. His hope is that retirement from business will not rob him of interests and activities. Following his former munificent gifts to various cities for libraries, ho has now presented Now York with five million dollars for the purchase and maintenance of branch public libraries, so that books may be within easy reach of all who desiro to use them. Mr Carnegio has now gone abroad with his wife and daughter, and has said lie is about to pass the pleasantest months of his life. lie will reside in Now York after a pleasure trip about Europe, which ho moans to make a season of complcto rest from all care and vexations.