CCopenasen, Sept. 2 Danish and Swedish deletions sre leaving for Engandsbordy to de. cuss agriculture, trade and' shipping Sugar will be rationed here from October 1—Reuter.
Mr. Schwab knew that the aging Carnegie wished to retire if honorable arrangements could be made, MY.
P. Morgan, the elder, was thi Jonly man in the country able to buy Jcut Carnegie and re-establish financial equilibrium. But he was skeptical of the profit-making possibilities of a huge steel combine, The energetic and enthusiastic Mr. Schwab, backed by a complete know. edge of his subject, pictured a future for the steel industry which convinced Mr. Morgan at a now-famous dinner of financiers in New York in 1900.
Mr. Carnegie sold his steel companies to Morgan for $487,000,000.
Secured Munitions Contracts When the World War broke in Europe Mr. Schwab, ever alert gained 8 large share of the Allies' munitions contracts. In 1017 he was named by President Wilson the director-general of the Emergency Fleet Corporation.
In accordance with his polley within the past few years to withdraw gradually from business, Mr. Schwab Tetired in 1994 as president of the American Iron and Steel Institute to which he was elected in 1927.
His 92-year-old mother lives in a simple yellow frame house near by In 1933 Mr. Schwab and his wife, the former Emma E. Dinkey, celebrated their golden anniversary in their $2,500,000 mansion" on River-side Drive in New York.
His philanthropic activities includ ed building of a new Catholic Church costing $150000 in Loretta; establish ment of the Home-stead Pennsylvania industrial School; auditorium Pennsylvania State College; Catholic Church at Braddy, home for on Staten Island, 'N-¥., and a school at Weatherly, Po, Many honours were conferred on him, the outstanding being the Cross of the Legion of Honour, bestowed in Paris in 1925—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.