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Show MMuiLDEFUiU illli STEEL "WASHINGTON. Feb. 13. James J Hill told the Stanley Steel Investl. gating committee today that he "would bo a first-class angel with red and whlto wings" before he woull go Into the steel business and predicted predict-ed that competition would oe tne rule long after the present laws were wiped wip-ed oft tho statute bool33. Mr Hill's last day of testimony was repleto with the Bage expressions for which he Is noted. He said the stockholders stock-holders of the Great Northern railroad rail-road were "not wearing any crepe" because the United States Steel corporation, cor-poration, "In Its fright," had cancelled cancell-ed tho Great Northern ore lease "You will be in a comfortable position, po-sition, no matter whether the lease Ib cancelled or not, won't you?" Chairman Stanley suggested. "You could start a steol company of your own with four hundred million tons ot oro in tho ground?" "I -will' be a first-class angel with red and white feathers in my wings long before I ever consldor going Into the stool business," Mr. Hill replied. "I'll bo 74 vears old ray next birthday birth-day and I don't mind telling you that I've dono about all tho hard work I intend to do in life." Just before the railroad buildor waa excused, Representative Bcall of To. as called his attention to the assertions asser-tions of E. H. Gary, chairman of tho board of the Steel corporation, and other business men to tho effect that tho dnv of competition was passed, and that tho time was at hand when the government must regulate maximum maxi-mum and minimum prices of commodities. commo-dities. "I think vou will have to tame hur man naturo and eliminate all selfish motives that rule human beings and everv other form of life, before you Will 'eliminate competition, ' Mr Hill remarked. "There will be competition continuing as long as tho rule of the survival of tho fittest lasts and that will be operating long after all our present statutes have been wiped off the books." ,, ., , , . "Do you think then it would h& unwise for the federal government to assume control of business, Mr Beah askotl. . . "I think when the government does that It will be a short 6top until thero will be no federal government. , "You think that such a government would not no much like a rertubllc?- lt would bo a monarchy. "Then you don't believe that the United States should undertake this niovo?" Mr. Beall resumed. "I would lay down the law of right and wrong," Mr. Hill said. "I would limit the power of corporations. I would seo that every corporation that Btarted business would put all the money In and I would not be Jealous of the size of tho corporation I would not permit tho watering of any stock. I would see that 100 cents on every dollar was put up and that the money was on hand to take care of It." "Well, you tried a railroad combination combi-nation once, didn't you," Representative Representa-tive Bartlett asked, referring to the Northern Securities case. "Tho government did not lot you carry It out and you are still doing a profitable railroad business?" "Yes,, and not making any complaint," com-plaint," Mr. Hill said. .Mr. Hill told the committee that he paid little attention to speculation and that he thought tha men who mado speculative prices In Wall street did not know much about actual con ditlons In mines 1,500 miles away. Hhe predicted, tailing Issue with Herbert Her-bert Knox Smith, commissioner of corporations, cor-porations, that the ores In the Hill lease, held by tho Steel corporation as worth $1 a ton, would soon bo worth $1.50 to ?2.00 royalty a ton He predicted that beforo many years pig iron could be laid down in Brooklyn from China for $17 a ton. Mr. Hill said he thought it was Important for the Steel corporation to get control of all tho ore it could, "and we aro not wearing any crepe because they have decided to cancel the lease on our ore lands," Mr. Hill observed. "We were not anxious to make that lease." "You knew that Judge Gary didn't want to make that lease," Mr. Stan, ley asked. "Didn't he?" Mr. Hill asked "He never told me so I didn't chase after them. Mr. .Gary signed It. Some of the directors thought the price, was high." "Wasn't thero one far-seeing business busi-ness man who insisted upon it?" "No." "Were jou ever advised that I. Piernont Morgan Insisted that this lease be made?" "I never was." "The steel corporation's desire to get the control of those oro lands, Mr. Hill said, was merely based on providence. By securing" the Great Northern Ore company the company would have all the ore It would need for 35 years The Great Northern Oro lease, which tho Steol corporation has given uotlce it wishes to cancel on July 1, 1915, came In for discussion. The trustees of the property were willing to have tho lease terminated, Mr. Hill said. "Why do they teimlnatc it?" Representative Rep-resentative Bartlett asked evidently referring to the Steel corporation. "I can see no other reason but tlielr own fright " "What wero they afraid of, their own shadows?" "It might have been," the witness rephed. |