New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-03-28
CARNEGIE ON WALL-ST.
GIVES STEVENS $4,000.
He Calls Stosk Gambling Parasite
of Business World.


At the annual dinner of the alumni of Stevens
Institute of Technology, at the Hotel Astor last
night, Andrew Carnegie, the chief speaker con-
graduated the choosing profession by
which to earn their daily bread rather than a
speculative career" which added nothing to
the world, materially or morally There was a
noticeable difference in their appearance he
said, and that of audience from the Stock
Exchange Stock gambling, he declared was
not even a business-it was "a parasite on the
business of the world"
Mr. Carnegie has shown decided fondness
for Stevens. having given some S250O00 at diff
ferent times for the building and support of the
Carnegie Laboratory. Last night DR.. Alexander
c. Humphreys president of the institute. said
that Of 100000 announced in circulars to have
been promised. contingent the raising of some
100000 for the Morton Laboratory and other
purposes, S5G6f0 had been promised by NJ.
Carnegie. The other $4,000 was his own said
DR.. Humphreys, and would be used for a stu
dents house when another 100000 is raised"
he added, significantly.
DR.. Humphreys in an appeal for funds
for the various buildings, announced that
$100.7O9 had been raised in the last thirteen
years. OF this. so. 200 had been contributed by
the late DR.. Morton. There was also fund of
$4,000 set aside by DR.. Morton, he said for
pensionihg the professors as they retired.
Memorial Laboratory. which, it was hoped,
would be ready next autumn. A transaction of
advantage TO the institute under way, said
DR.. Humphreys. by which Colonel r L. Stevens
would trade two plots of ground near Sth-st.
for one not so valuable by $4,000 near the
river, and would not take from the institute
the difference in value. Another plot, belonging
TO Mrs E. A Stevens, might be acquired for
S2OVOO which would give territory for a fine
buildings.
After DR. Humphreys had finished. Mr.. Car
negie was introduced, to be greeted by long
uprOarious cheers. He said
see a great difference between this audience
ana one, say, from the Stock Exchange l con
graduate you on choosing a profession-one in
which you will not make money easily, but will
do higher things than grab dollars. You may
not get large salaries, but you will have higher
things than the mere money maker can possess
-merclfully he cannot realize his loss-and you
will have education
When you have education this is the differ
ence: knowledge does not possess you-you
have the education and ii. No matter
whether you die worth millions or not YOU have
something denied TO the man who has immersed
himself in accumulation of wealth You deal
IN eternal Verities. There deceptions i'm
the materials with which you work There's no
scheming, no smartness, tricks You must
do your work honestly and walk straight TO
the line OF honor, or your work falls down That
makes man who finds that If he has his self
respect that is sufficient, but if he has not that
nothing is enough. Self-respect is more than
1nlliohs W men the judge within his own soul
approves when he lies down at night of all he
has done in the day he has other judge to
fear, here or hereafter. If he does not have
self-arproval everything else is dross.
Thine own reproach alone do fear"
Professional life leads men TO that higher life
most difficult TO attain in mere speculative
career. where man adds nothing to the world
doesn't add to IL materially morally. Stock
gambling is not business, it's mere parasite
on the business Of the world. If had a son
10 be educated I'd choose for him a professional
career such you chose
You may have heard that I entered the library
business. There was at first a great boom. but
] saw that II would slacken, and my secretary
tells me it's Gown now TO a day.
The man who goes TO a small college gets a
better education and is likely TO be turned out
a better man than Il he went TO a larger in
stitution. / have not much regard for the man
who learns to play football exclusively or who
learns anything else which has to do with the
foot
So I thought when I went into another line
of business I'd take up the small colleges NY
secretary teils me we have hundred appl-
cations. with full particulars. Troy Oberlin
Syracuse. Rochester, could name score ve
dealt with. You'd be astonished at their re-
ports and what they're doing. Stevens mustn't
daughters of the horse eech. crying Give,
give and really they need all they ask for.
About two hundred guests attended the din
ner Newcomb Carleton was toastmaster. He
enunciated the theorem that "Life's problems
are not to be solved by iogarithmic paroxysms
or dynamic debauches'