The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-19
CARNEGIE ON STEEL TRADE
M 7ILLs WHY ne DECIDED TO RE-
MIN ~ BUSINESS
Saws His Option Was Too Low but His
Partners Decided Not to Buy Him Out
Next Year VIII 10 the banner Year In
ErnnIa fnr Tho MnnMinctnrers OF Iron.


Partners Decided Not to Buy Him Out
Next Year VIII 10 the Hammer Year In
Profits for tho Manufacturers OF iron'
TiT1sBuRo. Pa. Nov. 1S.-ln an interview to-
day Andrew Carnegie told why he would not
retire from business and why the carnegie
Steel Company would continue in the old lines.
He said:
1T was very natural for my thirty odd
young partners TO be tempted by the
sccminey high oTor made for the bus-
ness when I was spoken to on the sub
Icct. my only question was whether the
FARMERS desirei 10 accept H. I satisfied myself
that they did That was sufficient for me.
,nld them that I could have nothing to do with
my stock speculation. but gave them the
option tn take over my interests, so they could
de- what they liked.
Il hplievo the Transaction was closed but cir
cumstanccs arose which prevent II from being
carried out. | also think that many OF the
PARTNERS had become less anxious for the sale
than they were. At any rate the result was
TINT the whole matter foil through and here We
are again. That is all there Is about IT,
was not the price considered too high"
Il don't know about that. Probably some
thought II was and others thought It was not.
Ihad n very decided opinion then. have the
same opinion now. II was not nearly high
enough. Twas asked what price would take to
give an extension OF tho option. and
declined 10 give 1t upon any terms. l
knew that / was making great sacrifices
Of my interests. The next party that
wants an option will have to take II at
greatly enhanced price. so far as l am con-
r,rned. and instead Of giving me million for
TIL opilon gave. 1 shall want Ave- The Car
r"gic steel Company has just begun TO grow"
d" The Carnegie steel Company Is getting big
TINT IL did not have DefOre.
j. not that seriousf'
THAT maybe serious. but not for the Cnrne-
q S'r'l COMPANY. 4 partnership concern.
with such an organization as our company has.
with th.r'y.twn Of the clcycrest young men In
tie world. every one ofthcm n partner because
e cnn do something better than anybody elsa.
h.. great advantage"
DO YOU thirk the country cnn continue con-
sum ~ SO much non an Stce,E
believe the would 10 be short of steal The
Tiunting otherarticIcs hat L would be difficult
20 supply the wants OF the world. Take steel
ear. Tor instance. IA wonderful success. Tho
Carnegie Steel Company has to make | 600
Uaics a lay 'or the Pressed Steel Car Comrany.
which takes tJOOuD tons Of p.G iron year
Then You think the present conditions will
"uh, no. | don't. The iron and steel bust:
waves and tides. hgh then low: hut
t. lar rs next year IL concerne !,
~
lheunm nal one. which can prevent It from
l"ii y"ar wiih much more profitable results
than thIs H4, been
Then you look for an advance upon present
no. the manufacturers Of iron and steel
have profited little 50 far by the adj
i.saviv. not 7' being lt covered with raw
,na'e-als. nnt most. y not all. Of them
ANY CoI"nIu hat had - buv pi. iron to-day
nnl sold finished st"e' az The low rrice
li dr 5 on SH STSry ' ,mH ' To4 wear "i
20 10" the nuUer year for the manufacturer.
ments. TheSe are enough for one years. en-
THINK, as Grea, as those OF this year. which
is the greatest years extensions ever
have not a doubt that Pit,sbarT iS still
10 be t fs. centre Q, ths steel in
HSfFy viii "S c fo% iH "a .e 'e Fears
heard OF some plane that give me much satis-
81; .carnsSes spoke 49, q a,. the rittySharE
So Ths ny eior
their encouragement Of the Carnegie Ins,i-
~ IN glad tn. orchestra Is going over to
New York, 70 reform in Carnegie Hall. Pretty
rough on New York when Pittshurg can send
Sew YORK has not one. IHks that. viii not not
he ashamed OF the orchestra even in New
YORK.
Nj Carnegie was asked II he had dictated an
article 10 one Of the reviews regarding the
Tfansyaal war when coming out on the train
the other day. lie replied: Yes should
in January ''''' N,''
~ Tor home politics. I have Just gotten home
md my m.nd has been occupied with other
sous killed In the Philippines; Gen Howard
lost his and now Mrs, LOGAN loses her son.
Thousand Of others have the sane
sorrow; keep asking myself what - all this
for and 'nd no ta,i- ac.ory answer, nor have
seen ore uIad-."
Mr.. Carnegie will leave for New York to.
morrow morning.