In later years he declined an interest in the firm which would have
made him a millionaire. I told him one day that some of the young men
who had been given an interest were now making much more than he was
and we had voted to make him a partner. This entailed no financial
responsibility, as we always provided that the cost of the interest
given was payable only out of profits.
"No," he said, "I don't want to have my thoughts running on business.
I have enough trouble looking after these works. Just give me a h--l
of a salary if you think I'm worth it."
"All right, Captain, the salary of the President of the United States
is yours."
"That's the talk," said the little Welshman.[35]
[Footnote 35: The story is told that when Mr. Carnegie was selecting
his younger partners he one day sent for a young Scotsman, Alexander
R. Peacock, and asked him rather abruptly:
"Peacock, what would you give to be made a millionaire?"
"A liberal discount for cash, sir," was the answer.
He was a partner owning a two per cent interest when the Carnegie
Steel Company was merged into the United States Steel Corporation.]
Our competitors in steel were at first disposed to ignore us. Knowing
the difficulties they had in starting their own steel works, they
could not believe we would be ready to deliver rails for another year
and declined to recognize us as competitors.
Pages:
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275