The Sentinel=record., 1912-01-11
CARNEGIE VS.
 ROCKEFELLER
cANNY SCOTT GLoATs OVER GET. TING BETTER OF OIL KING IN
 BIG ORE DEAL.
Tells Steel Investigating Committee Plair Facts About Sale of Carn- egie Company to the Present
 Steel Trust

Washington, Jan. 10.-"It does m, heart good to think that got ahea, of John D. Rockefeller, my fellow millionaire, in that Lake Superior or, deal'', Andrew Carnegie, former rule of the steel industry of the United States, gloated thus in testifying to day before the house committee O inquiry into the United States Stee Corporation. Mir. Carngie had jus told the committee about his deal witt Mr Rockefeller, whereby he ohtainef
 control of Mir. Rocl0efeller's iron ore holdings in the Lake Superior region at a rate of fifteen cents a tor holding which when turned into the steel corporation later, formed { large part of the assets valued al s700.O0O. 900.
 Mir. Carnegie laughed like a schoo Toy as he referred to the business triumph he had achieved over his fel low millionaire.
 As he spoke of Mir. Rockefeller, he took the committee into his conf dence and told of New Years call he and Mrs. Carnegie had made on the oil king and Mrs. Rockefeller
 We had an enjoyable chat, but bn our conversation I never referred to that ore purchase" and Mir. Carnegie ehnckled while his auditors enjoyed tine laugh with him.
 Throughout the inquiry to be con tinued tomorrow, MT. Carnegie de- clared he had come to tell all he knew but he was unable to supply many facts which the committee desired sta lpg that he had never paid any atten- ticn to the books of the Carnegie compsny before it's absorption by the rteil corporation.
 He was particularly emphatic in his testimony relating to the sale of his property to the United States Steel Corporation at the behest of J. Pierpont Morgan and told the com mittee that he wanted to end gossip that he had held out for an unreas- enable price. He also declared that when his partner, IT. c. Prick, ask ed him for an option for persons un- known to him on the Carnegie Steel Company, that he demanded $2,000,- coo, as an earnest of the intentions of the prospective owners and that when the deal fell through and he learned that the Moores of New York were hehind it. he was surprised.
 Had known that the Moores were behind that option which made an a valuation of s320.OOO,0O0' said Mir. Carnegie, q never would have given it..
 When you gave that valuation Of the Carnegie properties" asked Rep resentative Sterling, 4-did you con slider that the earning power of the concern justified it?"
 'fYes." said Mir. Carhegi8 and I'll tell you why l was asked to give an option on our property by my roEtper MT. Prick. I gave an op- ton of s25O.OO0oOO, but that did not include the total $320,O0000O
 For such an option demanded s2.0OO,000 as an earnest of good faith i'd $1.00O,0O0, my shere of the $2,- 100000, was deposited to my account while I was in Europe. but the oth- CT million never was raised.
 q never heard until now" he said in response to question. "that MT. Prick has anything to do with 1t. That he was interested with the Moores is romance, so far as I know. 7
 Mir Carnegie was asked about the steel plate association and other pools which the Carnegie company was q party to in the late nineties and which continued until 1904 He said he had known of the existence of pools but did not know that they were unlaw- ful until many years afterward.
 Senator Heard who had much to do with the framing of the Sherman law, wrote a statement after the pas sage of the law, that pools ware not rrohibited by 1t.
 As matter of fact. it was sur nrising thing to me when learned 2 few years ago that tine Sherman 'ew was passed so long ago as 1890. t certainly was not much heard of until long afterwards. :"