At the time of purchase the bonds and the preferred stock were considered worth par and the common stock 50, making the total amount paid at that time $447,416,640. Add to this the $22,000,000 dividend paid to Carnegie stockholders the previous year in adjustment of values in the consolidation of the coke and steel properties, and we reach the total cash value of the business to which Kloman's little forge had grown in 40 years.

Mr. YOUNG. How did you obtain these original documents for use in this book?

Mr. BRIDGE. They were given to me by officers of the Carnegie Steel Co., who considered that they had the right to give them to me for publication.

Mr. YOUNG. Were they given to you for the purpose of compiling this book?

Mr. BRIDGE. Yes, sir. They knew what I was doing.

Mr. YOUNG. And who were these officials?

Mr. BRIDGE. If the committee will excuse me, I would rather not name them.

Mr. YOUNG. Did this book grow out of the controversy between Mr. Frick and Mr. Carnegie?

Mr. BRIDGE. No, sir; not at all. It had nothing to do with it.

Mr. YOUNG. But it was published subsequently?

Mr. BRIDGE. Yes.

Mr. YOUNG. Were those gentlemen to whom you refer officials of the Carnegie Co. at the time that they delivered these things to you? Mr. BRIDGE. Some of them were.

Mr. YOUNG. Some of them were not?

Mr. BRIDGE. Some of them were not; had retired from the business. Mr. YOUNG. Were these things given with the consent and knowledge of the company as a company?

Mr. BRIDGE. As a company the officials of the Carnegie Steel Co. refused to give me any information, and practically challenged me to write a book without their assistance. Then, afterwards, some of the same men privately gave me documents. That is the reason I do not wish to name them.

Mr. YOUNG. All right.

Mr. BEALL. Had you begun the preparation of this work before the controversy came up, if there was one, between Mr. Carnegie and Mr. Frick?

Mr. BRIDGE. This work was done four or five years later.
The CHAIRMAN. That is all. Thank you.

APPENDIX

2625

EXHIBIT OFFERED BY MR. YOUNG.

[Statistical abstract of the United States, 1897.]

PRICES OF DOMESTIC IRON.

No. 132. Prices of pig iron, rolled bar iron, iron and steel rails, steel billers,
per ton, and of cut and wire nails, per keg of 100 pounds, from 1852 to 1897.

[Furnished by the American Iron and Steel Association.]

Wholesale base prices at store, Philadelphia.

Base prices from factory, f. o. b. Chicago, in carload lots.

First made in commercial quantities in the United States in 1867.
Superseded by the manufacture of steel rails.

Not made in commercial quantities in the United States before 1887.

10 Prices based on a new classification adopted in 1893, the base price and schedule of extras being changed
to correspond with the wire-nail schedule. In December, 1896, the schedule for cut and wire nails was again
changed.

17042-No. 36-12-11

2627