Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-08-11

range of it's value burst upon me.
Yes said. that is something which
this continent must have"
: He consulted Scott, and the three
invested for the manufacture OF the
cars. Carnegie. then earning $50
monthly. had to borrow $500 as his
hrst installment Of capital. but later
when he sold out his interest to the
f1 1ii ina Company he had realized
$lO,O0O for the venture.
Carnegie was twcnty-six when the
civil war broke out. and he saw his
old employer and friend. Scott, ele-
waited to the post of assistant secre-
tary of war. Carnegie in turn won
eminent railways and telegraphs. To
the carnage he saw at several battles
may be traced his lifelong belief in
the folly of warfare-"a blot upon
civilization"
Unwittingly following the lead of
in fortune building. Carnegie. at
thirty years of age. invested in oil.
AS one of a syndicate he bought up
a vast tract of oil land. In year.
to the surprise of all the investors.
it paid the astonishing return of
capital of $4,000.
Chief Magnet Was Iron.
But iron was the magnet then at
tracing Carnegie. The railroads
bridges Carnegie foresaw the de-
mand for a factory that could turn
out the iron parts, and he formed
the Keystone Bridge Works. They
built. as their first great piece, a
bridge across the Ohio river with a
span Of 800 feet. Demand for similar
structures became general and the
keystone works got the big orders
and profits.
Carnegie then began to see that
iron rails must be given up for steel
On visit to England in 1868 he dis
covered the success being obtained
there with the Bessemer process.
Carnegie quietly brought it home,
and before the English makers were
aware of the fact he had adopted 1t
in his mills.
The romance of his success was
such that the Immigrant boy Of 1s4s
became some forty years later, as
the worlds leading producer of steel.
a multi-millionaire himself and fast
bringing score of other men into
the same category. Many square
miles of his mills surrounded Pitts
burgh He reached into upper Michi-
gan, 700 miles away. and acquired
vast regions of ore land. He estab-
Eshed railway and steamship lines
to bring the ore to him. He boosted
of the reduction in price OF steel
rails from SOS ton down to $26.
It was certain that the grip which
he had upon the steel situation made
his elimination necessary if others
in quest of wealth in steel were to
realize the millions they saw going
to him. He was. accordingly. bought
out in 1901. The syndicate headed
by ]. p. Morgan. which desired to
form the billion-dollar United States
Steel Corporation. paid S420.00e.0e0 in
it's 5 per cent bonds for the Car
negie company's holdings. -...:.
What a fool 1 was" Carnegie later
said in a hearing before a congress
sell out to the steel corporation for
only s420.00e.000. have since learn
ed from the inside that I could have
received 100000. 600 more, from Mr..
Morgan If we had placed that value
on our properties" eCarnegie's per-
sonal share in these holdings netted
him about $3.50, 100000 His first ac-
tual investment in iron had been
$500 of borrowed money. thirty.six
years before.
Carnegie's mother. to whom he re-
peatedly gave credit for all that he
was. lived to be anpctogenarian. and
so devoted was he to her that he hesi-
married Louise Whitefield of New
York. by whom he had one child.
a daughter, Margaret. born in 1897
His bride was twenty years his
Junior. To her and her daughter
probably remains large fortune.
notwithstanding Carnegie's public
gifts.
Acquires Skibo Castle.
As, an American citizen he estab-
lished a magnificent home in New
York, on 5th avenue at Goth street,
and at the same time negotiated the
tie, in Scotland. This mammoth
baronial structure he remodeled,
bringing some steel for the purpose
from Pittsburgh. The estate, COM
prising many square miles along the
highland coast of Scotland. has ex-
cellent grouse moors. and fishing
brooks. in which Carnegie delighted;
a golf links which he established, and
a pier sof (which he kept his yacht
Seabreexe. One way or another he
had crossed the ocean some 100 times,
and once took tour around the
world.
On his skibo Castle Flagstaff he
few both the Stars and Stripes and
the Union sJack--sewed together.
Internationally, Carnegie made ready
use of his pen. His interviews with
the newspaper men invariably wound
up with an envious remark such as
II would like nothing better than to
be reporter" He wrote a little for
the press in the days of Horace Gree
ley, and later owned a paper for q
time. His books numbered about a
dozen. his first being testimony to
his love of coaching: IAN American
Four-In.Hand in Great Britain"
GssO. The next year he wrote
plant Democracy" a review of fifty
years Of the republic. Upon his re-
tirement from business In 1901. he
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