The Birmingham age-herald., 1912-01-13

 The committee led Mr Carnegie into discussion of the time the Moore brothers w. H. and ], B.. sought an option on his plant when his partner II. C. Prick, conducted the negotiations and MT. Car negie demanded $2O00,0O0 for the option because the names of the prospective pur- chasters were not disclosed. It was brought out that his partners, Prick ana Phpps, were interested themselves In the option, which eventually failed.
 Mr Carnegie said he heard later that Prick and Phipps were interested in it, and If they had succeeded in putting 1t through each was to get $o,0O0,0O0 in stock of the new company.
 He testified that ne accepted the forfeit of S1 1SO.000 deposited to his credit when tho negotiators failed to raise the balance of the s2000,00o deposit.
 At the conclusion of the testimony Mir Carnegie made a little speech Rising from the witness chair, he said
 "Gentlemen, l came down here with aversion to publicity. but l want to tell you truthfully l have enjoyed it. Let me say to you, get the court organized and proceed one step at time. Gentlemen, I shall miss your happy faces. When shall we meet again?"
 "The latch string is always hanging out MT. Carnegie" said Chairman stan | ley.
 well. if ever get another of those signatures of yours to an official sum mons" said the iron master, T will be al your disposal unless, of course, my counsel objects"
 Advocates ROOseyelt's Plan "T am familiar with the views of for mer President Roosevelt on the trust question, and I am inclined to concur with these,n said Andrew Carnegie before the Leu fnf 1f9,if tee today.
 Mr Gardner had coutrasted these views with ideas expressed by President Taft in his recent message to Congress on the trusts.
 "In the solution of the industrial prob lem" said Representative Gardner, there are two leading thoughts before us, viz: President Taft in his message expressed the view point that dissolution of large units Of finance should go on, and the other line of thought as expressed by former President Roosevelt that under the existing Sherman law we should first lcok to recognition of large units con- trolled by the government. In which class are you MT. Carnegie9"
 "I have agreed with MT. Roosevelt's views" witness said. T think large or ganizations should be allowed to continue and then see how we can get along and afterward pass regulating laws. Then you should be patient and see what fur ther legislation may be necessary. l do not think the sherman law is drastic enough. Give US a clear. unmistakable law and I believe we will steer clearly"
 DO you believe dissolution of the United states Steel corporation would lessen the price of steel?''
 q do not believe 1t would; 1t depends upon what the court might do."
 Suppose Congress does not take tho step that you advise?'
 MY opinion is that Congress will sec tho necessity for moro government con trol"
 Government Commission
 MT Carnegie said q government conn mission should have power to regulate prices from month to month, allowing capital reasonable profit. thus exact ing "an ideal condition between capital and laboR and producer and consumer"
 You cannot organize new steel com panies in this country now" said MT. Carnegie New men could not find ore Don't run away with the idea that the ores of Tennessee are of value equal to the Superior ores The ele- ments in the former ore are not the latter"
 Witness said Mir Schwab was correct in saying that while they could make pig iron cheaper in Birmingham, there
  not already controlled by present manu- lecturers.
 l. Representative Gardner said the Steel corporations cancellation of the IIill lease of the Great Northern ores would be basis for q new company
 Ut is my opinon.' said witness, that the United States Steel corporation Is giving up those ores for no other reason than that they have come to the con clusion that 1t is unprohtable invest ment."
 Reed SubpOened
 The committee served a subpoena on J. H. Reed of Pittsburg, Mir. Carnegie's counsel Reed was Secretary of state Knoxs partner as counsel for the Car negie company in 1890-1s93. when the company is declared to have been party to Illegal pools.
 How arc you enjoying this?" MT. Car egie was asked by a spectator.
 "Oh very much, indeed, this sort of thing Is new to me"
 Representative Young began examina- ton of MT. Carnegie. He referred to the questions yesterday relating to a reason for the great strides made in the profits Of the Carnegie Steel company after 1897, after the passing of the Dingley tariff.
 MT. Young read statistics showing that