Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1912-02-14
HARD WORK HAS NO
CHARMS FOR
JIM HILL
QUAINT PHILOSOPHY FROM
AGED RAILROAD KING
He Tells Stanley Committee He
VIII Be An Angel With White
and Red Wings Before He
Enters Steel Business.

lBy Morning journal Special Leased wire.l
| Washington. Feb. 13.-J. J. Hill
told the Stanley investigating commit
tee today that he would be first
class angel with red and white
wings" before he would 20 in the
steel business and predicted that COM
petition would be the rule long after
the present laws We're wiped off the
statute books
Mr.. Hill's last day of testimony was
treplete with the sage expression for
which he is noted He said the stock
holders of the Great Northern rail
road Were mot wearing any crepe"
because the United States Steel cor
poration lin its fright" had cancelled
the Great Northern ore lease
you will be in a comfortable po-
sition, no matter whether the lease
Is cancelled or not won't you?'
Chairman Stanley suggested
You could start a steel company
of your own with 400.O00,000 tons of
ore in the ground?"
4 Will be a first class angel with
red and white feathers in my wings
long before | ever consider going in
TO the steel business" Mr. Hill re-
piled I'm be - years old my next
birthday and | don't mind telling you
that I've done about all the hard work
II intend to do in life"
Just before the railroad builder was
excused Representative Beall Of
/ Texas, called his attention TO the as
sertions of T.. Fl. Gary, chairman Of
the steel corporation, and other busi-
ness men to the effect that the day
Lof competition was passed and that
the time was at hand when the gov
eminent must regulate maximum and
minimum prices of commodities.
Il think you will have to tame hu-
man nature and eliminate all selfish
motives that rule human beings and
every other form of life, before you
will eliminate competition Mr.. Hill
remarked. There will be competition
Just as long as the doctrine of the
! survival of the fittest lasts, and that
! will be operating long after all our
present statutes have been wiped Off
the books
DO YOU think then It would he
unwise for the federal government to
assume control of business Mr.
Beall asked.
~ thiSx glnen the federal govern
ment does that il will be short
step until there will be no federal
government"
You think that such government
would not be much like republic?'
1T would be a monarchy
Then, you don't believe that the
United states should undertake to
regulate business" Mr. Beall re-
sumed.
~ would lay down the law of right
and wrong" Mr.. Hill said. II would
limit the power of corporations. |
/ would see that every corporation that
started business put all the money in
and would not be jealous oh account
of the corporation. | would not per-
init any watering of stock. | would
see that 100 cents on every dollar
was put up and that the money was
! on hand To take care of it."
/ Well. you tried a railroad COM
| bination once didn't you?" Repre-
sentative Bartlett asked. referring to
the Northern Securities Company.
| "The government did not let YOU
carry it out AMI YOU are still doing a
profitable railroad business.
Yes and not making any COM
lplaint." Mr.. Hin said.
/ Mr. Hill told the committee that
he paid little attention to speculation
and he thought that men who made
speculative prices in Wall street did
not know much about actual bust
ness conditions in mines l.000 miles
IaWay.
lie predicted. taking issue with
I Herbert Knox Smith, commissioner
of corporations. that the ores in the
j lease held by the steel corporation as
to 81 royalty "A ton. lie also predicted
that before many years pig iron could
/ be laid down i'm BROOKLYN from China
for 81 "A ton.
Mr.. Hill said that Frederick Wey-
erhauser. the lumber magnate, had
refused to pay $4,000 for the fee to
the Wright and Davis lands which
he afterwards bought as the major
portion Of the land leased To the steel
corporation and containing iron ore
estimated at 400. .000.0 0O0 tons.
Il think Mr.. Weyerhauser made a
mistake" Mr.. Hill said.
Mr.. Hill said he thought it was im
portant for the steel corporation to !
get control of all the ore il could |
''and We are not wearing any crepe /
because they have decided to can
eel the lease on our ore lands" Mr..
Hill observed. we were not anxious
To make that lease"
You know that Judge Gary didn't
want 10 make that lease Mr.. stan
ley asked
"Didn't he?" Mr.. hin asked. He
never told me SOL didn't chase after ,
them. AIR. Gary signed H. Some of
the directors thought the price WAS
high"
Wasn't there one far seeing bust
ness man who insisted on it,"
Were YOU ever advised that ]. =. !
Morgan insisted that this lease be
madeZ"
I never was. said Mr.. Hill.
The steel corporations desire to get I
his ore lands. Mr. Hill said. was based
merely on business prudence. BY Sc !
curing the Great Northern company /
the corporation would have all the y
ore IL would need for thirty-fve years |
The trustees OF the property were
willing to have the lease terminated I,
Mr. Hill said
why do they cancel IL - AR Bart I
lett asked.
4 can see no other reason but their
fright.
What were they afraid OF. their !
own shadows2
1t Hisht have been" the witness
replied.
State Dinner to Champ Clark.
Washington. Feb. -. President
and Mrs. taft gave the last state din
s4a.aa -