The sun. [volume] (New York [N.Y.]) 1833-1916, 1912-01-11

IN" NpluiuH OF lhe 'drnegle DuSlileSS was
ION. my, ! could not tell that, said
Carnegie Why should ! guess? Tu,,e
matters are all of record"
u was in al tn" birth of steel, he said
"snd il has hecom" king If | had re
manned IN TIA" business | would have built
"A plant At Coun"aut that would have as.
touish"i tn" world and distauced all com
pptitiou
Nlr Carnegie told now Harry Oliver.
"mV fellow messenger boy in the Western
Union saw TAR ahead and went 90 Minne-
trta. wh"r" lac bOugh; or" properties
Carnegie himself later bought large in
terost in Ia" Oliver company Chairman,
Stanley observe Cd that tn" steel Corpora
ton hHd allowed siN5oo. o0 for u on" sixth
int"r'>l an tn" Oliver ,nmpan,
wuNI \ root 80 .,lIL. ron St3l "uo plN
They dji. did thrv'' ~pid carnegie
well. | ".r rot surprised e. aurlhing "
Then n" aidud w hd Il tool was ia sell
on Il" tl'" steel Co"puraii"u oH "a ha~'s of
$3.50 Oun.uor
chairman Stanley reverted to the ac-
Qnl~i' ion rv carnegie ui Hu interest in
the oliver Mining COMPANY The in
Nos'iCator rut several hypoihetiCIl Ques-
uous "tn" witness. Nr. carnegie begged
tu W. ~ >'u~"d iron answering them.
No rs tor me. ~atd he. You might
Just d> we'll ask r,H what would have hap
ronod If "a" dog hadn't caught the rabbit"
"NOruING 10 ,oNCrAL"
me committee questioned hun IN re-
gard to the oirr OF $50 .oJn UOu which
Eenry & t'ri"k, tt"u nj" r..r;ror. had
made for tn" CHru"gt" properties on be-
half. as Mr. taru"g," contcn Is, of an in
disc iOS,d prIuCipdI II was this OF or
on which Nlr Eri"k and others associated
with h,m put NJ 81 900 900 as an evidence
of their good faith rh" sale tell through
and Mr. Carnegie II has h"on sad roCketcd
tho Sl,,NnoNu Witnesses VINO have APP
pear"d N"tOr" TIA" stool committee have
testified tina, VIZ trck. Juig" Moore
and others Who had nut up IN" 81 ,Unl u0O
were Very wra'uv with their friend car
nesie h"""ur" y" took this money. Mr.
Carnpc'" gave i. side If u to-day
Ho declared that Mr. fricl, had come
70 linn and told him that certain persons
desired ~ purchase the Carnegie proper
tics for s2ju 600 600
"Nr Frlck. SAID Carnegie. thought this
oTer was a hE thing Hetold mo ho could
not d.sClo-" IN" parties behind him IN
tho transaction. and | said Very wnll
If | don't know VINO they are ! will give
no strangers an option on the property
unless they put up 81 nno.oou as an evl-
den"" of their good faith and financial
hacking Old not know that Mr. Frck
ested ~ this offer | gave Mr. frick and
Mr. phipps. my partners. power of at
tornev. to carry through this transa"-
action and sallel away for Europe My
shar" IN the money that was put up on
option was 81 600. 900 The option never
was rNor. t~.i aud the deal fell through
aud WHOM got back from furor" | found
8 900 900 credited To my account
Il am here To- tell tn" absolute truth, ="
said Mr.. Carnegie, hanging his rs; on
the table. II have dona nothing that |
wish Iu conCc II
The comnittc" next took up with Mr.
Carnegie the charges that have been
mad" tN.f na boosted the price Of his
properties when the Steel Corporation
was negotiating for their purchase. hn-
cause Go reiiiI"d that th" Corporation
could no. ho - success withuu, the car
nogie C,t,r"u-
rln%'r ~Ii"k 1uE s1EFL CoRroRAItoN
Nj. rarueGl" maintained that the Steal
Corporation ha~ not paid an excessive
price t"t his properties VI" -tid
Charles i Srhwah care - ina one
day and wanted ~ know whether | was
ready io rc'lr" from hIsiuos- | told
Nr Sohwah that vas gotting woll along
~ voir~ and wanted to devote. :. good doal
Of my t'u" to ih" distribution of wealth
that I mad "lre,dv accumulated hrit
added that II would depend entirely
On the wishes ui my par,uar- whether
J should soil oiI' d"ol ircd that would
hot 4" ANYTHING except what wnuld
work for TIA" b.rotf pt iuv ptrtner-.
lie said IN" had d taik with j p. Morgan
and ihlt he know my partner. were
willing IT, ,eI Ny. S"hWdh came back
a few days later and asked what terms
wouli accept lie recalled that We
had gwen an option On the property for
$685.. .rJN.ppU. which dld NOT include the
Fr"k coal properties valued at $50 OuO ,OJl
He figured MAT Ne had gained IA th"
meantime about SlOuunp UOO and that
n price Df Sl2u .urn nnu WOuli be Chear
OF the Sf"nmU. u" pald rv the Steel
Corporation w. taruoEIe personally
received S.l3w0.up. entirely IN bonds
Of the Sf"0l Corporation
81 did not receive" "a cent more than this
and did not ."t any common stork An
this talk atput my holding out tor a high
pric" j. without tuuLGut.or. never saw
Morgan Gu IT," -ui. I,rt | trrcItnd tho
price that MIR N"hwah SAID was fair !
was told ait"rwar' thu ] lIl-ht rs well
have asked millions NOR" an@ mat ! could
have got H. but tn'- l. o." truth ! want
10 put a stop to all tins talk that j. going
around about IN" having forced a high
price on the Sto"l torpo~Ht Ipu
Members of TIA" "o'uuItt"" asked Mr.
Carnegie wheth"- III" char" was true
that he had force! ta" organization of tho
United states Ntuel Corporation hv
threatening to irVdd- th" railroad field
and TO begin ndnuia"' urluG steel tubes
"Well. gcIIlem"n." sand Carnegie, Wv"
had MADE plans and were going ahead with
the wor.. but W. had no idea in regard to
Nr Morgan buying the property and if
We hadn't sold ont We would have been
a very considerable concern 10y this time
Chairman Stanley wanted TO know If
there wasn't a matter of about SiGOD 900
that had been allowed to Mr. Carnegie IN
connection with the sale of Carnegie
properties-if # Mr. Carnegie hadn't had n
cash balance Of about 81 900 900 with the
company which had been turned over To
him The witness replied that he had
always urged his partners to keep their
money with the company and had done
so himself. He could not recall this
little item of 81, 900, 600
"Of course said he. 1T was just a
balance like any tOther balance
The whole sale of the Carnegie prop
critics TO the Steel Corporation" Mr.
Carnegie added, was oniv matter OF
one or two sentences Nr Schwal
asked the price and | said, Yes. | am
quite willing TO sell at $3.50 900, II
only took a few sentences"
Alr. Carnegie declared that he was
perfectly willing 10 take his share in ;
per cent. bonds Of the corporation.
Were yOu aware" asked Chairman
Stanley, chat the United States Stee
Corporation issued Si92 ,Ono 600 Of secu,
rites against the Carnegie Steel Com.
pany:"
"1hat's another surprise TO me-" sale
Mr. Carnegie, but This | know; that
didn't get more than $4,000 900 Of bond,
as my share, not one cent"
80 EXTRA CONCESSIONS FRON p r. u
The Committe" questioned Mr car
nerie as to whether ne had intent iDuully