ABSTRACT
The basic reason was probably Charles M. Schwab's intense dislike for Judge Elbert H. Gary, chairman of U. S. Steel's board of directors. When the liquidating winds of 1907 had cleared the financial scene of much of its debris, sharp observers might have perceived the rise of a new giant. Why Schwab left a job that in the previous year had brought him two million dollars in salary and bonus was a matter of considerable interest. Gary, as intimated, was a man who wore his religion into the board room. For two years, Schwab directed the production and marketing of U. S. Steel with brilliance. To do so he worked even harder than usual, which was very hard; and in 1903, his health failed. The soothing Mediterranean was indicated, and while cruising its pleasant waters, Schwab stopped off at Monte Carlo.
