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MELLON'S MILLIONSHarvey O'ConnorJohn Day ($3). Few stars have receded into space more swiftly than, in a few months time, the Greatest-Secretary-of-the-Treasury-since-Alexander Hamilton has receded into history. Time seemed ripe for a biography before Andrew William Mellon dwindled entirely from man's ken. Biographer O'Connor is no flattering admirer. Far from it. With no sympathy for his subject, he is still journalist enough not to enter into vituperation, historian enough to dig diligently for facts. Hence Mellon's Millions, no impartial appraisal of Andrew Mellon, tells more of how the Mellons made their millions than has been told before. Andrew's father, Thomas (son of an Ulsterman who had migrated to a farm in Pennsylvania) studied law in a Pittsburgh law office which bore on its wall the motto: A pearly shell for yon and me; The oyster is the lawyer's fee. Starting with practically no capital, in five years Thomas amassed $12,000 by buying up small judgments for cash, small money lending, turning every possible penny. He married for a businesslike reason: to avoid living in a boarding house. In his autobiography (presented in later years to friends) he said of the selection of Andrew's mother: "All in all, I saw no one that pleased me better. . . . There was no love making and little or no love beforehand so far as I was concerned. . . . When I proposed if I had been rejected I would have left neither sad nor depressed nor greatly disappointed, only annoyed at the loss of time." Andrew Carnegie admired his friend's autobiography very much. Thomas Mellon became in a few years one of Pittsburgh's most substantial citizens, had five sons: Thomas Alexander, James Ross, Andrew William, Richard Beatty, George Negley. All save the youngest (George, who was tuberculous) became moneymakers. After Andrew left Western University (now University of Pittsburgh) in 1873 his father set up him and his brother Dick with a subdivision and a lumber yardselling lots to expanding Pittsburgh, and lumber to those who built on the lots. The depression of 1873 put an end to selling lots but the Mellons soon were acquiring property cheap at forced salesto be resold to Pittsburgh in succeeding booms. Andrew Mellon, aged 22, working in his father's private bank, met Henry Clay Frick, aged 26. The wise Mellons lent young Frick money with which he proceeded to buy coal mines, acquire a practical monopoly of coke making. Coke prices soared from 90¢ to $5 a ton; Frick became a millionaire at 30. He and his friend Andrew went to London, Paris, Venice in celebration.* After they returned Andrew was best man at Frick's wedding. Frick was to have reciprocated, but Andrew's fiancee caught consumption, died after a lingering illness. Andrew gave up social affairs and devoted himself more & more to business. He became his father's right hand. In Andrew, his father saw a money-making expert. When Andrew was 25 he gave him his unlimited power of attorney. Andrew stepped out, added other interests to his father's private banking and real estate business. Andrew, with Frick, bought control of Pittsburgh National Bank of Commerce. Andrew took over Union Insurance Co. and became its president. Andrew put $250,000 capital behind a young company, Pittsburgh Reduction, to enable it to exploit a new metal, aluminum. Andrew
