New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-09
WHY CARNEGIE SOLD OUT.
DID NOT WISH TO DEVOTE HIS OLD
AGE TO BUSINESS.
NOT A NTHROPIsT-FUTURE OF THE
AMERICAN STEEL AND IRON TRADE
NOT AFRAID OF TRUSTS.


London. May s.-Andrew Carnegie. asked &c
give his reasons for selling his vast interests In
the manufacture Of iron and steel. referred with
Endorsement to an interview with him printed
In London PAPER to-day.
In this interview Mr.. Carnegie was asked II
he had sold from fear or dislike OF the trusts.
and was quoted as replying:
The trusts have never frightened me, and
the Carnegie Steel Company has no occasion to
he afraid of them. as 1t is the greatest property
of its kind the world has ever seen or probably
ever will see.
Il did not sell out because business was not
prosperous; 1t never was so prosperous. nor
were It's prospects ever so good.
Il sold in pursuance Of a policy determined
upon long ago. not to spend my old age in
business. struggling after more dollars. 1 be-
lieve in developing a dignlfied and unselfish life
after sixty"
Mr.. Carnegie's attention called to a para
graph in London paper which referred TO his
famous declaration that ''to die rich is to die
dsgraced." and he was asked what he was
going to do with the S10O,0O0.000 he had
amassed.
Tell that editor" replied Mr.. Carnegie. ''to
watch and see l hope I shall not Justify the
definition, sometimes deserved. of a philanthro-
pist as a man with a great deal Of money. but
very little sense"
Asked his opinion Of the recent triumphs or
American engineering firms in beating English
competition for the supply OF locomotives to
India. etc. Mr.. Carnegie said subsequently to
a World" correspondent:
las have been telling my native land for at
least fifteen years what was coming. am not
surprised.
The American is the most alert, quickest and
most versatile man the world has yet seen. The
American workman is skilful than any
other"
But. Mr.. Carnegie, the Briton has got long
way ahead Of the American in the industrial
struggle"
Very good. but he has never before had to
compete with a man Of his own blood. He de-
veloped under more favorable circumstances.
"To be sure there is a great deal Of kick in
the Briton. and the struggle will not be hastily
given over. When he has to meet superior
competition I have great faith in his ability
to change his methods and to fight
zone great obstacle which ne must encounter
Is the fact that minerals are rapidly being
worked out in the old land. while in the new
they are only just being opened"
How do you think matters will work out In
the manufacture Of iron and steel?"
THE wants OF the world are sufficient TO tax
both Europe and America. There are only
three countries which can furnish much Of
these artcles-Great Britain Germany and the
United States
THE two former now worked 10 their
fullest capacity and can't meet the increased
wants of the world which must be satisfied
by the United States .-------'
I'm the temporary depressiors which come at
intervals Great Britain and Germany will find
the surplus Of America selling in competition
with them, which is just what the American
manufacturer has had TO stand heretofore.
The situation is now reversed"