The Providence news. (Providence [R.I.]) 1891-1906, 1902-05-05
Cracks Jokes and Tells Funny
Tales to Board Of Trade.
ONE WAS AT HIS OWN EXPENSE
President Of Steal Trust Believes 10 Com.
blnatun but Not 10 Raise PTlc,s and
Restrict Production.

Worcester, May 5.-Charles M. Schwab
who was a guest of the local board of
trade the other evening, told many stories
that made the event memorable.
The president of the United States
Steel company is a very clever person
and judging from the pleasant things
that had been mentioned. public and
privately, he felt as II he amounted 10
something, but he was reminded of an
incident which happened the other day
at his home. He was riding with his
faithful colored boy when he heard a
woman who was passing with her little
girl say:
Nov. look quickly. dear There is Mr..
Schwab In the carriage"
(which one. mamma?" said the little
girl.
Going through the wire MILL" said
Mr. Schwab, II met "A clever foreman
tn the room where drill diamonds are
used in drawing fine wire. / was inn
pressed with the work and / congrstu-
lated him. / said: Mr.. Palmer / wish
had your job He replied: L wish
had yours. II Mr.. Palmer was asked
10 speak before this large audience
fear he would not care for my job
"One thing which has most impressed
me on this, my first visit to Worcester.
Is the ingenuity Of the people employed
in its industries Never before had /
conception OF the height which me-
chanical ability has attained In your
city.
WORCESTER METHODS.
1--WE sent a foreman to Worcester to
study methods, and when he came back
Ne was impressed. as l have been. with
ee mechan/tal Ingenuity displayed here.
ne day after his return he was hastily
tnt for. the messenger telling him his
title boy had swallowed q quarter An
lour later the foreman came back, smil-
ng.
II suggested that he found things not
go seFious as he expected. He replied
oh yes, I I'D. but l remembered there
was doctor here from Worcester. and
i 5new he could get tho quarter IL any
boiy could. and he did
II had no idea OF the intricacy OF the
steel business until / came here. l do
not dare TO ask many questions for fear
of getting an answer like that Senator
Platt once got from n carpenter whom
ne employed TO do some work at his
II he knew how to make a Venetian
blind.
Yes said the workman I should
punch him I'm the eye
That's how l felt about questioning
some of these people about the steel
business l was impressed just the
same"
Mr.. Schwab said he believed great com
binations OF capital were inevitable
1--WE might as well try TO dam the Mis-
eiss.ppi." he added. "as 20 stop such com
binations. They are the natural results
of natural causes, and they offer great
advantages from an economic point OF
view. The economies which can be ef-
fected by one combination will easily
pay the interest on a large capital"
BELIEVER IN TRUSTS.
The speaker said he was not a believer
In trusts formed 10 artifcially raise prices
and restrict production. on the other
hand combinations which reduced prices
and lessened the cost of production were
Scrmed on sound business principles. He
was believer In organized labor. but
not with such organizations as are de-
signed TO restrict the output OF the man
ufactory. As soon as labor recognized
taht principle the country would start
in on q period OF prosperity that would
make the present period look pale.
Mr.. Schwab said he was somewhat wor-
ried by connection with big combinations
by the loss Of individuality, such as had
built up Worcester.
Other speakers were President Faunce.
Of Brown University; James b. Rey-
nolds, OF New York; James Logan and
Carroll ID. Wright