The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1912-01-13

ing these organizations. Then you
should be patient and see what fur
Their legislation may be necessary. /
do not think the Sherman law is dras-
tic enough. Give us a clear. unmis-
taxable law and believe we will steer
clearly"
do you believe dissolution Of the
United States Steel corporation would
lessen the price Of steel?"
Il do not believe 1t would. It de-
ponds. Of course, upon what the court
might do
Suppose congress does not take the
step that you adviser
MY opinion is that congress will
see the necessity for more government
control"
REGULATE PRICES.
Mr.. Carnegie said a governmental
commission should have power to
allowing capital a reasonable profit.
thus exacting AN ideal condition be-
tween capital and labor, producer and
consumer
You cannot organize new steel
companies in this country now" he
said New men couldn't find ore.
Don't run away with the idea that
these ores of Tennessee are OF q value
equal to the superior ores. The ele-
ments in that ore are here
He said Mr.. Schwab was corrct in
saying that while they could make
pig iron cheaper in Birmingham. there
were no available ores In that district
not already controlled by present
manufacturers.
Representative Gardner said the
steel corporations cancellation of the.
Hill lease of the Great Northern ores
would be a basis for a new COM
pany.
1T is my opinion said Mr.. Car
negie, that the United States Steel
corporation is giving up those ores for
no other reason than that they have
come to the conclusion that it is an
Improbable investment
The committee today served sub
poena on J. H. Reed. of Pittsburg.
Mr. Carnegie's counsel. Reed was
Secretary of State Knox's partner as
counsel for the Carnegie company in
1890 and 1900, when the company is
declared to have been party to illegal
pools.
HE Is ENJOYING IT.
How are you enjoying this?' Mr..
Carnegie was asked by a spectator.
"Oh. very much indeed. This sort of
thing is new to me-"
Representative Young began ex-
animation of Mr.. Carnegie. He refer
red to the questions yesterday relating
to reason for the great strides made
in the profits of the Carnegie Steel
Company after 1897. after the passing
of the Dingley tariff. Mr.. Young read
statistics showing that the production
of steel as we'll as the profits greatly
Increased.
Didn't the tremendous increase in
business after 1896 account for the
great increase in profit?"
why. OF course. ono goes with the
other. The production is the basis OF
the whole increase
tDo you know whether the Dingley
law had any influence on the steel
imports?"
Il said before that the Dlngley tarir
could have had no influence on the
steel business" Mr.. Carnegie answer
ed.
..Fhen you attribute the steel pros
rerity to the same conditions that
brought about general prosperity
throughout the country?p
Certainly"
DO you think the Dingley tariff
had anything to do. with any pros
perity in the country" asked Chair
man Stanley.
Il don't think so, but. Of course, I
do not recall the details Of the Dingley
tariff"
Il know nothing about the Affairs OF
the steel corporations" Mr.. Carnegie
has repeatedly told the committee. Il
have not been inside of a steel mill
since I retired from business In 1901
and for years before that my partners
ran the business of the Carnegie
Company. knew nothing of its de-
tails. / am anxious to tell you all
can to help you in your great work"
When he asked to be excused at the
close of the hearing yesterday and
was informed that there was so much
which the committee desired to ask
him that his presence would be neces-
sary today. Mr.. Carnegie appeared
somewhat impatient.
sAll right" he said. 81 will be here
I am a patriotic citizen and wish 70 do
my share in aiding this great work. 1
viii do all I can to help you"
The committee room was crowded
again today when Mr.. Carnegie ar
rived for the third day of his attend
ance.
| Members of the committee planned
to question him further aboutghis re-
lations with the attorneys for the
Carnegie Company. among them Sec
rotary Knox. who, Mr.. Carnegie said
| yesterday never had acquainted him
with any facts concerning the Sher-
man antitrust law.
What constitutes a smoke,
is the conscious satisfaction
that you have had a smoke.
Try the "A cigar.
TEST SUIT Is WON 5Y
LUMBER MANUFACTURERS