Andrew Carnegie：Autobiography of Andrew Carnegie, Additional Excerpt 293

Mr. Schoenberger, president of the Exchange Bank at Pittsburgh, with which we conducted a large business, was in New York when the news reached him of the embarrassment of Mr. Scott and Mr. Thomson. He hastened to Pittsburgh, and at a meeting of his board next morning said it was simply impossible that I was not involved with them. He suggested that the bank should refuse to discount more of our bills receivable. He was alarmed to find that the amount of these bearing our endorsement and under discount, was so large. Prompt action on my part was necessary to prevent serious trouble. I took the first train for Pittsburgh, and was able to announce there to all concerned that, although I was a shareholder in the Texas enterprise, my interest was paid for. My name was not upon one dollar of their paper or of any other outstanding paper. I stood clear and clean without a financial obligation or property which I did not own and which was not fully paid for. My only obligations were those connected with our business; and I was prepared to pledge for it every dollar I owned, and to endorse every obligation the firm had outstanding.

Source： https://www.gutenberg.org/ebooks/17976
Locator：Additional excerpt 293 · Verified：2026-10-19 · Verification：Short excerpt

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