New-York tribune., 1908-12-22

ma
There is always room for the enterprlsins
nan m make a speciaity and besides. he gets a
high price for his article" Mr. Carnegie
comment THE man who would go into the
general steel business without the proper capitai
is a man you need not concern yoursel1 ABOUT
Things that are used by the thousand cannot
be made now except on a large scale
Mr. Carnegie further admitted that the time
for the smaller manufacturer Of steel was past
except for the man making special article
At the morning session the crowded hearing
room frequently rang with peals OF laughter at
The ouips of Mr. Carnegie. in reply to questions
asked bv Representatives Dalzer and Payne Al
one noint Mr. Payne Ieane4 over and whispered
to Mr. Dalzell who sat at his right
az wish the chairman would tell me what ne
said to Mr. Dazell I think ] ought 10 Know
Mr.. Carnegie protested
There was roar OF laughter throughout the
room but Mr. Payne made no reply Leaning
over with lis hand to his ear and his heao
cooked to one side. in imitation OF the attltude
assumed by Mr.. Payne in whispering to MT Dal-
zell, Mr.. Carnegie said: Il should say that your
words were The Jig is up
WANTS RESULTS. NOT FIGURES
Mr.. Carnegie was not willing TO deal IN figures.
THE more figures you get the more you VIII De
befogged I don't Judge by figures given by IN
terested parties" he said at another point III
his testimony. II Judge by results.
The former steel magnate said that Judge
Gary had issued an annual statement showing
thar the limited States Steel Corporation had
made a profit Of S15S 100000. which, he said
eoualled profit Of S15 30 ton on all steel
products.
Mr.. Carnegie avoided direct replies to ques-
tions as to whether the cost of producing steel
at the present time given by Judge Gary ana
Mr. Schwab was correct. MFR. Schwab's estl-
mate Of the present cost is based on entirely
different ideas than his estimate on the cost IN
1899" was all that Mr.. Carnegie would say
Replying to a question from Mr. Cochran MT
Carnegie declared that the removal of the duty
IN steeI~vvouId not necessarily affect the price,
because Europe could not successfully compete
with the American product He said also that
If the figures given by former witnesses were
absolutely correct Steel stock void be selling
far below par.
Mr Carnegie spoke of the difficulties he ez-
perienced with directors ignorant OF the steel
business II gradually bought them out and
got men like Schwab around me. and we made
the cheapest steel that has ever been made
you've been out of steel some time said Mt
Payne; "can you tell where we can get the
figures on the present cost Of making steel?
II don't know whether you can get the hs-
ures." was the reply. "If judge was inter
ested in a cause you would not respect his decl-
sion would you?" he asked, referring to the
steel manufacturers who have appeared before
the committee
There was no reply to Mr.. Carnegie's ques-
ton.
Silence in the courtroom he laughinsly re-
marked ITS too bad I have TO submit to be
cross-exam!ned and can't get a chance 10 croSS-
examine these dignitarles."
IRON SUPPLY NEARLY EXHAUSTED.
Mr. Carnegie asserted that at the rate at
which iron ores are being extracted the supply
would be exhausted in forty years. He based
his statement on the best expert opinion ne
could obtain. he said. He said also that Eng
land would be in the same condition in seven
years
The testimony Of Judge Gary was frequently
referred to in the questions asked Of Mr.. Car
neeie Reference was made particularly 10
statement that the duty on steel could be taken
off so far as the Steel Corporation was con-
cerned and Mr. Carnegie said that this por-
ton should be accepted by the committee An
argument was started by TINS statement
batN,een Messrs. Payne and Dalzell on one SIDE
asserting that Judge Gary did not say the uuty
conId be removed on all steel products, and MI
COCHRAN. on the other hand insisting that Judge
C,arv's testimony was TO that effect
Judge Gary has summarized the facts Tor
vou' said Mr.. Carnegie, "and I should depend
on them. He has told you that they don
need the duty. If the cost Of steel rals mas
increased abroad as 1t has increased here you
will find Judge Gary's statement quite true
and that he could stand free trade
".Judge Gary has testified that the price Is as
high abroad" said Chairman Payne
Then doesn't that show that you have moth
inc 70 faar from free trade?" was the rejoinder.
Nfr Carnegie was asked at length regarding
the cost of producing steel, but declared that
honest men could easily differ on that question
The steel business he said. was a business by
itself and the cost 10 man was very d1t-
ferent thing from the cost to another When
gentleman of Judge Garys character. he
said comes TO you and tells you he does not
need tariff. you ought TO believe him
He insisted in reply TO questions by Mr. Bo-
much for steel rails. The steel rail makers, he
thought. were making fair profit
How about other steel products besides steel
raiIs?" Mr. Bonynge inquired.
1T haven't a word TO say, Mr.. Carnegie re-
piled. That's out of my province"
CALLS MR.. sCHWAB "a GENIUS"
Mr. Fordney recited the testimony of Mr..
schwab. and was interrupted by Mr.. Carnegie
with the remark He Is a genius" Mr.. Car
negIe suggested that Congress should extend
vote of thanks to Mr.. Schwab for his work in
improving the methods of steel making in this
country. II never met his equal" said Mr..
Carnegie. in speaking of Mr.. Schwab and when
we were partners were great team
THAT is very apparent" remarked Chairman
Payne.
speaking of the testimony OF Judge Gary be-
fore the committee. Mr.. Carnegie said: You
should not place any real value on the testi-
nony Of interested parties. Judge Gary said
that the United States Steel Corporation could
for reduction tariff steel. but