ire
American demand and prices fell from eighty to fifty dollars per ton
as a consequence.

While testing the ores of Virginia we found that these were being
quietly purchased by Europeans for ferro-manganese, the owners of the
mine being led to believe that they were used for other purposes. Our
Mr. Phipps at once set about purchasing that mine. He obtained an
option from the owners, who had neither capital nor skill to work it
efficiently. A high price was paid to them for their interests, and
(with one of them, Mr. Davis, a very able young man) we became the
owners, but not until a thorough investigation of the mine had proved
that there was enough of manganese ore in sight to repay us. All this
was done with speed; not a day was lost when the discovery was made.
And here lies the great advantage of a partnership over a corporation.
The president of the latter would have had to consult a board of
directors and wait several weeks and perhaps months for their
decision. By that time the mine would probably have become the
property of others.

We continued to develop our blast-furnace plant, every new one being a
great improvement upon the preceding, until at last we thought we had
arrived at a standard furnace. Minor improvements would no doubt be
made, but so far as we could see we had a perfect plant and our
capacity was then fifty thousand tons per month of pig iron.

The blast-furnace department was no sooner added than another step was
seen to be essential to our independence and success. The supply of
superior coke was a fixed quantity--the Connellsville field being
defined. We found that we could not get on without a supply of the
fuel essential to the smelting of pig iron; and a very thorough
investigation of the question led us to the conclusion that the Frick
Coke Company had not only the best coal and coke property, but that it
had in Mr. Frick himself a man with a positive genius for its
management. He had proved his ability by starting as a poor railway
clerk and succeeding. In 1882 we purchased one half of the stock of
this company, and by subsequent purchases from other holders we became
owners of the great bulk of the shares.

There now remained to be acquired only the supply of iron stone. If we
could obtain this we should be in the position occupied by only two or
three of the European concerns. We thought at one time we had
succeeded in discovering in Pennsylvania this last remaining link in
the