Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1912-01-14

4 AONh -ANWAsl mt taAAAAH
WASHINGTON. Jan. 11-Andrew Car
negie concluded his testimony yesterday
before the house steel trust investigation
committee. He admitted that in 1900 he
had contributed tIs.0o0 TO oppose the
policy OF imperialism and the annexation
Of the Philippines; assaiisd Wall street
and branded stock jobbers as parasites:
urged the Roosevelt trust policy, IN pref.
erenee TO that Of President Taft for
dealing with the trusts, and asked con-
gress to consider carefully that problem.
After q day or examination ON many
subjects Mr.. Carnegie was subjected 20 a
fire Of oEestlons which put him ON his
msttic. Chairman Stanley elected from
him an attack on stock jobbing. that
probably will influence legislation 10 ba
proposed By the committee ana Represent
alive McGiilieuddy OF Maine took tho
iron master over soma political jumps
that were altogether unexpected.
Mr.. Carnegie" asked Chairman stan
ley, IN Tho organization OF The Carne-
gse steel company Of New Jersey, why
did you diyids your stoez into N.cp
shareaT' .'.t. t ~.
TO keep thsra oft tho stock exchange
ras Mr.. carnegie's quick reply.
why did you want 70 keep them off
the stock sxchangeT"
stock Jobbfng Wrong.
because do not believe In stock job
bing. But ! did not wish to have my
partners IN business tempted to spscuia-
ton. ] never in my life bought or sold
q share Of stock on the speculative mar
kef. I WAS reared differently. had
q grandfather ruined in scotland by stock
speculation. received that II was
ruiDous when . young man. and through
out my business career / never bought
long nor EDld short
Chairman Stanley, producing an old
dnsu<n<1f rad fpn a slaisnastt made
b. Mr.. Carnegie many sears nso In which
the iron master said:
''st6cx ssmhssss Nsrr parasites. f>salng
on values and creating none" aar
ARE yoa attn OF that opinionf+ he
asked 81
MI STANLEY. ihc other day yau re-
ferred 10 something had said about
competition and 700 fald you would iiks
to have II engraved on q memorial tablet, =
Mr.. carnes'e answered II Wish you
would take the quotation you have just
read. ensraEp II on a tablet and put 1t
In the stock exchange"
DO yon believe that a corporation
should BY iaw, be given the right to buy
and seil us ern stock on the stock ex-
changer
New aae.sien Unanswered.
THAT is q new question:" Mr.. Car
negie answered. hesitatngiy. II We never
heard 4 raised before 1 would ike to
think more over Il and write you note
u my views"
do you belleve u a safe policy IN the
interest OF shareholders who do not
gamble and do not believe In Il for II
10 be possible that any corporation might
gamble in its stocksY'
Il am against all stocg gambling"
III there has to. be gambling, would
not It be better for men to gamble AZ
cards or on horses instead OF on bread
and meat and Industrial stoeks7'' asked
the chairman.
IT would De better for you. Mr.. Chair.
man. net 70 gamble on anything" Mr.
Carnegie rspiied. POINTING nus .nnser a.
the chairman. Il don't like 10 draw any
distinctions."f
More lavicc TO Mckinley.
Representative MeGhlicuady somewhat
confused Mr. Carnegie with a are o.
questions seeking to show that a pan
was formulated 70 organize the unitsd
stats steel corporation before Mr.. Me-
Kinley was sleeted president in is0O anu
that the oeaI was contaminated sOOn
after his election. lie brgugnt out the
fact that Mr. carnegie MAD tod AR NC
Kinney 10 nave noth.ng 70 DO with i'm
perialism or the acquisition OF the Pnl,ip.
pines.
Were there any negotiations between
you and J. Fierpont Morgan prior to isal
regarding the formation OF the steel cor.
porAtionT' asked the statesman from
Maine.
4 never heard OF any TN Mr.. schwab
came to me in 1871 with Mr. Morgans
offer 70 buy my properly AR. Carnegie
answered.
Were there not some negotiations az
early as is0F'
Il Beser heard OF any -
IN iso were you not very much op-
posed 20 the policy, o. lfnperlaIism.4
Yes. ] was. and asked Mr.. Meilnisy
not TO have anything TO % with It. i
was exposed 70 the aeaolsitio3--of ths
Philippines.-
is # not aiso frue-tsat carry IN nag
you were opposed to william McKinlsy
for pressdeatT' - -
No Mr.. Carnegie replied. giving cvi-
dsnce Of confusion. Il DO not know d
anything that would hsve nlses ne OF
posed 20 Mr. AcKin.sy.-. soF
once. opro1ed dead Leader.
is II not fact that On January; ire
you attended o HesaHF Of aAtl-lmper.aihti
At which yru 'pistgsd yoarssif 10 con.
tribute yzsoeo 70 prevent the nominatioE
and is-elecuon OF wiiiasa Mexinisy d
they gouids Fasse liza ansuHtT'. Mr
McGHilenccS ssked.
!. II. Reed aktornsg fer ia sssss cor
psration cbiscted 70 ina question. caair
mar stanley oysr=uisc tas sslsetiea. M
Carnegie iDszss Il 81 s=;:=s=. s=s.is..z.zs
bat presently raps.ses
4 can't tai yea absgl thsl. % no
r.ooiiect thai ever did snysh.as 10 %
ro<s the nonliaafsoa Or rs-eisetisA q BE
Klniss. vas ssssly essossd 70 n