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Subseries 2. Iron Clad Agreement, 1887-1900

Scope and Content Notes:

In 1887, the death of a prominent associate of the Carnegie Brothers & Company, Ltd., led to the first Iron Clad Agreement. The crux of the agreement said that when a shareholder dies or leaves the company, the remaining partners can purchase the person’s holdings back at book value, instead of the market value. This subseries contains the copies of three iron clad agreements that were created. The second and third agreements were drawn up in 1892 and 1897. Other materials pertaining to the Iron Clad Agreements consist of correspondence, lists, notes, memoranda, and notices dating from 1896 to 1900. The correspondence in this subseries are typescript copies, handwritten, original, and letter copies. Most of the typescript copies are outgoing from Frick. Some of the incoming letters to Frick are from F.T.F. Lovejoy, Secretary of Carnegie Steel Company, Ltd.; A.M. Moreland, Secretary of Carnegie Steel Company, Ltd.; and Millard Hunsiker, a personal friend of Frick. The materials in this subseries date from 1887 to 1900.

Folder 16 Copy of Iron Clad Agreement, 1887
Folder 17 Copy of Iron Clad Agreement, July 1, 1892
Folder 18 Copy of Iron Clad Agreement, September 1, 1897
Folder 19 Correspondence, June 15, 1896-February 15, 1900
Folder 20 Signed Members List, December 26, 1899
Folder 21 Memoranda, January 8, 1900
Folder 22 Memoranda and Notes, January 12-17, 1900
Folder 23 Notices, January 10-29, 1900

Box 17
Volume 1 H.C. Frick Letterpress Copybook, Iron Clad Agreement, June 10, 1898-March 12, 1900
49. Frick writes on making the Iron Clad Agreement more legally binding. June 10, 1898