Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1912-01-14

Don't you remember tina; you actually
did contribute .lSooo o. that 5000 to thi,
fund"
Il DO not -seollect. bot Il may be so
II you know the facts i am SURE that Il
was no; against MeKiaisy. but against
the acquisition % the Philippines"
why. after contributing sikcoO did you
not continue with the other s.9,co:' Mr..
MeGinieuddy cdnGnued.
Il Go not reeoIlect."
! Didn't some OF the Morgan people
come to you and tell you that Il wac
necessary to elect Mckinley in order to
form this United States Steel cor
poration2"
No such thing ever occurred" Mr..
tcarnegie answered sharply.
sale Followed Election.
After MCKINLEY was insugurated IN
March. 1901, and Philander C. Knox. who
had been attorney for your company. was
made attorney general in his cabinet, Is
TT not true that within thirty days your
steel corporation actually was formedg'
SIR. McGillouddy persisted.
Why 90 you say Your Steel corpora
donF Mr. Carnegie rstorted impauently.
corporation. Never invested a cent in
l. merely sold my property"
Mr.. MoGUHcuddy then asked, II. after
the steel corporation was formed,
throughout the entire administration and
Mr.. Knox term as attorney general. there
had bsen any prosecution OF the steel
trust. AIR. Carnegie said he had heard
OF none.
Mistake of Steel Corporation.
Mr.. Carnegie again related the story OF
the plan Of his company to extend its
business and erect an en- rmous tube plant
at Conneaut harbor. which plan aroused
afr. Morgan and led to the immediate
negotiations for the purchase OF his prop
erty and the formation Of the steel cor
poratIon. He described in detail how
Charles n. scnwab had figured that tubes
could be made for $40 ton less than
any mill in, the country could make them.
This led Mr.. Carnegie TO the observation
that the steel corporation had made a
mistake in not carrying out his plan
1T Is only my private opinion" he
said as he smiled the Carnegie smile.
and ! would Tot say this for publication,
but u has always been a source OF
wonder TO me that the steel corporation
instead Of going to Gary. Ind, TO build
their new works and spending twice a.
much money, did not carry out my Con-
neAut plans II they had J know that
the United States Steel stock would be
much more valuable than Il IL To-Day.
Not 30 sick After All.
Chairman Stanley told Mr.. Carnegie Of
limitations he was about TO be enmsshed
by Morgan. Gary. Gates and q gigantic
competitive combine ngainst tho Carnegie
Steel company just before the sieci cor
poratlon proposal was made. and sug-
Eested that there were Reports current
that he was sick man. who could be
easily induced.
. We'll. was still able to take sus-
tenance." said Mr.. Carnegie. "But they
approached me at n good time. l had
already formed a determination OF my
career. had determined that ! would
not spend my old age In making more
dollars ] had all the money wanted
and demonstrated that sumo time be-
foro when the Moores sought an option
on tho works and had left Il TO my
partners TO decide.
vi had all the money l wanted. and Il
was not until long altar that realised
4 was more labofious to distribute money
wisely than 10 make II. | do not like
that word phllanthroplat. It suggests
q man with more money than brains. !
have seen whsre distribution OF surplus
wealth has done moro harm than good
and has .doh more TO pauperIEe people
than benefit them. never like 10 help
people who cs.a help themselves That
Is why never give library to a COM
munity that cannot help In the enter
prize"
More About Option.
Tho committed led Mr.. Carnegie into .
discussion again Of the time the Moore
brothers. w. b. and j. b., sought an
option on his plant. when his partner.
" G. Prick. conducted the negotiations
and Mr.. Carnegie demanded ,2.cooooo for
the option because the names Of the
prospective purchasers were not dis
closed. II was brought out that his
partners. Frlek and phipps, were inter-
ested themselves Ia the option, which
eventually failed.
Mr.. carnegis told the committee all
that he learned aflerward about the deal.
lie said ne had heard that Prick ana
Phipps we're Interested IN II and that
II they had succeeded In putting Il
through each was TO set 100000 In stock
Of the new company. He testified that
no accepted the forfeit OF si.iSl,oW de-
posted TO his credit when the negotiators
failed TO raise the rest OF the sa,eoo.oW
deDosit.
III Mr.. Prick and Mr.. Phlpps entered
into a contract with the Moore brothers
by which each was to get ;S,0o.eco In
stock of the new company and never
told me anything about H." said Mr..
Carnegie, ''you don't think I am obh-
gated. do you. to pay them anything now
on the forfeit money Of that option
Agrees with Roosevelt.
II am familiar with the views OF ex-
President Roosevelt on the trust ques-
lion and am Inclined to agree with
him" said Mr.. Carnegie. when Repre-
sentative Gardner contrasted those views
with ideas expressed by President TAN
in his recent message on the trust ques-
tion.
Enjoys ProeeedInks.
AT the conclusion Of his testimony Mr..
Carnegie made little speech. Rising
from the witness chair, he said:
Gentlemen, came down here with an
aversion to publicity. but I want to tell
you tsuthfuliy 1 have enjoyed It. Let
10 say TO you, get the court organized
and proceed enc step at a time. Cen
tlemsn, shall miss your happy faces.