MILLIONS WHILE YOU WAIT.
LOST AND WON IN A BREATH. FINANCIAL MAGNATE’S STARTLING STATEMENTS. [UNITED PRESS ASSOCIATION —COPYRIGHT.] NEW YORK, May 28. Giving evidence before the committee which investigated the steel industry at Washington, Mr. John W Gates, referring to the United States Steel Corporation operations, declared) that millions were lost and created almost in a breath. Carnegie mills, which he appraised as worth 160,000,000 dollars, were recognised as worth 320,000,000 dollars, which sum Air. Carnegie received in the shaps of corporation securities
He admitted that the combination was formed with the object of throttling competition, and when Mr. Rockefeller sought to enter the steel business a deal was made which forced him to sell out at forty cents on the dollar. He claimed that the corporation was conceived by himself and Messrs C. M. Schwab, and Pierpont Morgan.
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Gisborne Times, Volume XXIX, Issue 3231, 30 May 1911, Page 5
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139MILLIONS WHILE YOU WAIT. Gisborne Times, Volume XXIX, Issue 3231, 30 May 1911, Page 5
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