The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-02-14
JAM ES ]. HILL
No STEEL MAKER
Prefers to Be an Angel
to M a k in G
Steel.
HAS STOPPED
HARD WORK
Says United States Government
Will Have to Tame Human Ma
ture and Eliminate All Sell
fish Motives Before Bust
ness Competition Is
Ended.

Washington, February l3.-James j.
hin told the Stanley st.el investlgat-
ing committee that he would bs a
hrst-class angel. with red and white
wings" before he would 20 in the steel
business. and predicted that COMPETE
ton would be- the rule long after The
present laws were wiped off the statute
books
Mr.. Hills last day of testimony was
replete with the cnig-ams and sage en-
pressions for which he Is noted. lie
said thu stockholders OF the Great
Northern Railroad were mot wearing
any crepe" because the United states
Steel Corporation, 'tn its fright" had
Cancelled the Great Northern Ore lease
You will be in comfortable position
no matter whether the lease is can
celed or not. won't you?" sugG ested
Chairman Stanley.
You could start stael company Of
your own with +0o,ooo,o0o tons OF ORC
n the Eround7n
and white feathers in my wings, LONE
before ever consider going into the
steel business" replied Mr.. Hill. IN
be seventy-four years old my next
birthday. and l don't mind telling you
that I've done about all the hard work
intend to do in life"
Just before the railroad builder was
called his attention to the declarations
of L. II. Gary, chairman of the board
of the Steel Corporation, and other bus
ness men TO the effect that the day OF
competition was passed In this country,
and that the time was at hand when
the government mus; regulate maxi
mum and minm am prices of commod-
tiles.
Human Nature.
nj IVA
human nature and eliminate eli ss!fsh
motives that rule human beings and
every other form of life before you
will eliminate competition" remarked
Mr.. Hill.
DO you think. ;nen. It would be ,ln-
wise for the Federal government to as
sumo control of businsss?" asked Mir
Beall.
Il think when the Federal govern
ment does that II will be very short
step until there will be no Federal gov
eminent" was Mr.. HIPS quick reply.
Il would lay down the law OF right
and wrong" said Mr.. Hill. "T would
limit the power of corporations. j
ould sec that every corporation that
started business put all the money in,
ma would not be Jealous on account
of the size OF the corporation. would
not permit any watering OF stocks
would see that 100 cents on every dol
lar was put up and that money was on
hand 10 take care of 1T"
Not II Spectator.
Mr. liill told the committee that he
paid little attention TO speculation and
did not think that man who made spec-
ulative prices in Wall Street knew
much about actual conditions in minb,
Loco miles away He predicted. taking
issue with United States Commissioner
OF Corporations Herbert Knox Smith.
that the ores In the Hill lease, held
by the Steel Corporation as worth 81
a ton. would soon be worth $50 to s.
royalty ton. He also predicted that
before many years pig iron could bA
laid down in Brooklyn from China for
sl7 a ton.
Mr.. Hill aroused some interest wh,n
he said that Frederick Wcyerhauscr,
the lumber magnate. had refused 10 pay
$4,000 for the fee to the Wright and
Davis lands. which ha afterward bought
as the major portion of the land leased
10 the Steel Corporation. and contain
ing iron ore estimated at 100000, 900
tons.
The Steel Corporations desire TO get
his ore lands, Mr.. Hill said. was mere
ly based on business prud Ance. BY
securing the Great Northern Ore Com
pany the corporation would have all
the ore II would need for seventy five
years