Henry Wilson Storey's History of Cambria County, V.II, p.479

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History of Cambria County, V.2

HISTORY OF CAMBRIA COUNTY. 479

States Naval Observatory for three terms, and was superintendent of the naval Academy at Annapolis for four years. He was also at the head of the Department of Navigation in the Naval Academy for five years. In 1899 he was placed on the retired roll, and at present resides at Annapolis, Maryland.
    Charles M. Schwab, a steel manufacturer and capitalist, was born in Williamsburg, Blair county, February 18, 1862. He is the son of John A. and Pauline Schwab, of Loretto, who removed to the latter place when he was ten years of age. In 1893 he married Emma Dinkey, a daughter of R. E. Dinkey, of Weatherly, Pennsylvania. At the present time he resides at Seventy-fourth street and Riverside Drive, New York, and at his summer home, “Immergrun,” Loretto.
    As a boy Mr. Schwab drove the stage and carried the mail between Cresson and his home town until 1881, when he entered the service of Andrew Carnegie as a stake driver in an engineering corps of the Edgar Thomson Steel Works at Braddock. His promptness and ability soon attracted the attention of Capt. William R. Jones who took him into the rolling mill. In 1887 he was appointed superintendent of the Homestead works, and on the death of Capt. Jones in October, 1889, Mr. Schwab was advanced to the superintendency of the Edgar Thomson works and furnaces. In 1892 he was made general manager of both the Edgar Thomson and the Homestead works, and four years later was elected a member of the board of managers of the Carnegie Company. In 1897 he was chosen president of such, in which office he continued until the formation of the United States Steel Corporation.
    As the representatives of Mr. Carnegie he met J. Pierpont Morgan and associates of New York at a dinner, and so clearly presented the advantage of a consolidation of the steel industries, that Mr. Morgan consented to finance the enterprise. In 1900 the United States Steel Corporation was organized with a capital of $1,500,000,000, and Mr. Schwab was elected president. Mr. Carnetie had been willing to accept $250,000,000 for his property a year or two previous, but by the new transaction he received over $500,000,000.
    Mr. Schwab is the principal owner of the Bethlehem Steel Works, and a ship building yard on the Pacific coast, besides being interested in many other industries. He is a member of the American Iron and Steel Association, the American In-

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	HISTORY OF CAMBRIA COUNTY.	479
States Naval Observatory for three terms, and was superintendent of the naval Academy at Annapolis for four years. He was also at the head of the Department of Navigation in the Naval Academy for five years. In 1899 he was placed on the retired roll, and at present resides at Annapolis, Maryland. Charles M. Schwab, a steel manufacturer and capitalist, was born in Williamsburg, Blair county, February 18, 1862. He is the son of John A. and Pauline Schwab, of Loretto, who removed to the latter place when he was ten years of age. In 1893 he married Emma Dinkey, a daughter of R. E. Dinkey, of Weatherly, Pennsylvania. At the present time he resides at Seventy-fourth street and Riverside Drive, New York, and at his summer home, “Immergrun,” Loretto. As a boy Mr. Schwab drove the stage and carried the mail between Cresson and his home town until 1881, when he entered the service of Andrew Carnegie as a stake driver in an engineering corps of the Edgar Thomson Steel Works at Braddock. His promptness and ability soon attracted the attention of Capt. William R. Jones who took him into the rolling mill. In 1887 he was appointed superintendent of the Homestead works, and on the death of Capt. Jones in October, 1889, Mr. Schwab was advanced to the superintendency of the Edgar Thomson works and furnaces. In 1892 he was made general manager of both the Edgar Thomson and the Homestead works, and four years later was elected a member of the board of managers of the Carnegie Company. In 1897 he was chosen president of such, in which office he continued until the formation of the United States Steel Corporation. As the representatives of Mr. Carnegie he met J. Pierpont Morgan and associates of New York at a dinner, and so clearly presented the advantage of a consolidation of the steel industries, that Mr. Morgan consented to finance the enterprise. In 1900 the United States Steel Corporation was organized with a capital of $1,500,000,000, and Mr. Schwab was elected president. Mr. Carnetie had been willing to accept $250,000,000 for his property a year or two previous, but by the new transaction he received over $500,000,000. Mr. Schwab is the principal owner of the Bethlehem Steel Works, and a ship building yard on the Pacific coast, besides being interested in many other industries. He is a member of the American Iron and Steel Association, the American In-