St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-07-15

We VIII iSUuitu duu make our mlii more moo
ern; Our mills are under superintendent
ana what the men make they keep; while at
zones d Laughlins' they pay percentage to
olhers. In regard to question brought up
Dy witness as to the mortgages held by the
company, that is done merely TO accommo-
date our employees. If a man pays $500 on
his property,we will advance him the amount
needed and permit him to repay so much
per month.
We charge per cent interest, ana we have
never foreclosed mortgage. We pay our
workmen per cent pc: annum for deposits
in our association. The deposits made by
our employees aggregate $4,000
ah chairman I'm Oates then asked the witness
Ton OF pig iron was worth SI4 and the cost
70 turn 1t into billets was about $40.
Mum as to Profits.
oats-Leaving out the cost of the plant at
homestead, will you state what it costs to
make ton of billets?
MI; Frick declined to answer the question.
ana CHAIRMAN Oates remarked he supposed
ne did not want to show the profits of the
company.
oates-Do your earnings cut any figure in
your demand for a reduction OF wages?
trlck-Yes: the loss speak Of on blooms
plliets and slabs had its effect.
Mr.. Prick denied report that his firm had
taKen foreign contract for 81 per ton less
than the American rate.
Mf. Boatner-4our superintendent stated
that improved machinery permitted YOU TO
turn out double the amount OF steel at one
half the former cost?
Mr.. Friek-That is likely true as 10 the mill
to which he referred.
Mr., Boatner-Why do you decline to give
the labor cost OF production!
MT. Frlck-Because we do not think we are
called upon to make public our private bust
ness affairs.
Did Not Ask Protection.
MI Bynum-You asked or protection
through the McKinleySbill?
Mr. Frick-We did not ask for any protec-
ton.
Mr.. Bynum asked if it were not true that
some steel was being exported. Mr.. Prick
replied that Park Bros. were exporting some
very line steel. finer grade than is made at
the Carnegie plant. MIR. Bynum then replied
that an American manufacturer was export
ing steel and competing in the markets Of
the world
oates-Mr Frick, don't you undersell other
firms to get contracts?
Mr.. Frick-We compete with other con-
tractors.
Chairman Oates asked if prices gen.
orally were not lower than they we're in
the past. Mr.. Prick said he believed
that some were higher and others
lower. He believed cotton was lower.
> Chairman .Oates-Could you not operate
the works at Homestead without reducing
the wages of the men?
Mr.. Frick-No, sir. We would eventually
be driven into bankruptcy if there was not q
readjustment Of wages.
Mr.. Broderick-You said that the tariff had
nothing to do with the wage question at
Homestead?
Mr.. Frick-I have so stated. believe that
after readjustment of wages within q wear
the earnings of every man whose wages will
be reduced will be as high as under the old
scale.
Action of Tariff:
Mr. Bynum-The industry was depressed
from 1873 to 1879, and revival Of the indus
try was in 1879, 1889 and 1881. During the
years 1880 and 1881 the greatest importations
took place, did they not?
MT. Frick-I believe so. High prices would
increase the importations There was q
great deal of railroad building during those
years. which stimulated demand
Mr.. Broderick-Has the price of the prod
nets OF your mills steadily decreased during
tariff is practically prohiDitory?
Mr.. Frick-Yes, sir.
In answer to a question by Chairman Oates,
Mr.. Frck repeated his statement about the
organization of the Carnegie interests. He
said the company was capitalized at $685.
:. Charles Mansfield. a real estate dealer, testi-
he'd that the first shot was fired from the
boat
A. j. Taylor. a grocer said the first shot
came from the barges and the second from
the shore
Chairman Oates then said that the commit
tee had concluded its investigation, so far as
the Homestead trouble was concerned
'"The COMMITTEE said MIR. Oates, "has some
further inquiry to make at other places as to
the Plnkerton organization. The court of
inquiry at fittsburg is now adjourned.
The committee left the city for Wash
lngton tonight.