HENRY PHIPPS (1839-1930). Phipps, a capitalist, manufacturer, and philanthropist, was a childhood friend and neighbor of Andrew Carnegie. Phipps was already a successful businessman and manufacturer by the time he joined forces with Carnegie immediately after the Civil War. His major contribution to the Carnegie empire was his natural cautiousness, which resulted in the empire's steering a prudent financial course during the last quarter of the Nineteenth Century. After his retirement in 1901, Phipps devoted himself entirely to his philanthropic interests, which ran from parks and playgrounds to medical research and education.