Omaha daily bee., 1912-01-12
Says They Hold Meetings and Make
Out Schedules.
SHOULD BE REGULATED BY LAW
Industries Need System Like that of
Railroad Traffic.
PROTECTION IS NOT NEEDED
steel King says There is No Danger
of Foreign steel Flooding the
American Market IL Duty
Is Lowered.

neSle, continuing MS testimony oefore
the house steel trust committee today.
declared that the day OF competition had
passed because OF the ability OF manu-
facturers to fix and maintain prices.
Men, lie said, have been able 10 sit
down and agree to fix prices and main
tain them"
DO you believe that the situation to-
day destroys competition?" he was
asked.
Certainly"
THAT men In these corporations meet
some where today to fix and maintain
prices?''
Il think that is obvious"
MIR. Carnegie was asked II he agreed
today with views he expressed two years
ago, urging government control Of cor
lporations and regulation OF prices.
Il still adhere to them," he answered.
Il believe the government should regu-
late maximum prices"
Don't you think il an unfortunate
condition."
IL think the time has arrived when
! that is necessary and l point to the Inter-
state Commerce commission. which has
brought order. peace and justice out OF
chaos In the railroad business
Protection Not Needed.
Mr. carnegie declared that he never had
any idea the American people would per-
nit the organization Of such trusts as
have grown up in this country without
government regulation. The ironmaster
said he did not know the Sherman law
interfered with his company's engaging
in pools. He said he would not punish
millionaires, as examples TO other mill
lionaIres, because they had done some
thing In ignorance of law.
That would be vindictive." he said.
Mr.. Carnegie reiterated his tariff views.
He declared that the steel industry needed
no protective tariff and that congress
heed have no fear that foreign steel
would flood the American market.
Helped OrKsnise Industry.
The irunmaster was in a happy
frame of mind when he, reached the com;
mittee room and as on yesterday he
proved an attraction. drawing large
audience lie told the chairman before
the proceedings began that he hoped the
committee could conclude with him today
as he wished to return to New York.
Representative Beall of resas began
questioning Mr.. Carnegie.
You were connected with the Iron and
steel business altogether for about forty
years, were you not?" he asked.
'Yes, SIR
You found II at the beginning small
business?"
Yes very small"
And you left II a business dominating
the business of the world?'
"Yes. in STEEL
oIn the early years you found the busl-
ness dislntegrated?"
Yes"
And you left business greatly i'm
proved, greatly extended, with all Its
attributes, the ore. the transportation,
the coal and other facilities assembled
and practically dominated by one great
corporationr
admirably stated" said Mr.. Carnegie.
No Progress Recently.
HAS there been the same grade OF
progress in the steel business since the
United States Steel corporation got hold
OF the industry"
Il don't believe that any corporation
can manage a business like a partner
ship. When We were partners | felt
that we could run around corporations.
You take thirty-five young men inter-
ested in watching even leak in a
spigot and no corporation can compete
Kpt0t, 10, h.,u
ness.
George Perkins came 10 me one day
and said: Mr.. Carnegie. YOU once told
me about your partnership organization
and | thought it was foolish Now, /
know you were right
1T is the same thing with the man
who owns the land and tills it. Take
Iowa, for instance. When a young man
went TO Iowa on a holiday. There I
saw those beautiful farms. these homes
Of a triumphant democracy. Those
young men owned their lands, their
homes. Great Caesar, what can big
farming corporation do against such a
condition as that?
The man who owns the land Is
man. the equal Of any other man in a
triumphant democracy. WIZ, I have
loved Iowa ever since 4 saw that
picture"
How He Secured Business.
MIR. Carnegie gave the committee sew
eral Illustrations OF his power TO get
business when he YVES In the steel mar
ket
Why, take rails, Tor instance" he con-
tinued. Il had many close friends in
the railroad business. remember only
the Union Pacific had asked for bids for
1000 tons Of rails and the bids were 10
be opened at Omaha. All my competitors
were out there. / walked over 10 Sidney
Dillon Of the Union Pacific In New York.
1 had Gone the Union Pacific a favor
once ! got them a loan Of something
like $4,000 In Philadelphia. and they
elected me and George n. Pullman d.
rectors.
Il told Dillon about the bids ana
asked him IL the Carnegie rails were sat
isfactory. He said they were
Il said. I want the Union Pacific TO do
business with me and Ill give you the
lowest price
He said. All right. Carnegie and /
got the contract.
Now. what's the use Of a eorpora:tan