e been quite justified in asking
the additional sum named, for the common stock has paid five per cent
continuously since.[45] But I had enough, as has been proved, to keep
me busier than ever before, trying to distribute it.

[Footnote 45: The Carnegie Steel Company was bought by Mr. Morgan at
Mr. Carnegie's own price. There was some talk at the time of his
holding out for a higher price than he received, but testifying before
a committee of the House of Representatives in January, 1912, Mr.
Carnegie said: "I considered what was fair: and that is the option
Morgan got. Schwab went down and arranged it. I never saw Morgan on
the subject or any man connected with him. Never a word passed between
him and me. I gave my memorandum and Morgan saw it was eminently fair.
I have been told many times since by insiders that I should have asked
$100,000,000 more and could have got it easily. Once for all, I want
to put a stop to all this talk about Mr. Carnegie 'forcing high prices
for anything.'"]

My first distribution was to the men in the mills. The following
letters and papers will explain the gift:

_New York, N.Y., March 12, 1901_

I make this first use of surplus wealth, four millions of
first mortgage 5% Bonds, upon retiring from business, as an
acknowledgment of the deep debt which I owe to the
workmen who have contributed so greatly to my success. It is
designed to relieve those who may suffer from accidents, and
provide small pensions for those needing help in old age.

In addition I give one million dollars of such bonds, the
proceeds thereof to be used to maintain the libraries and
halls I have built for our workmen.

In return, the Homestead workmen presented the following address:

_Munhall, Pa., Feb'y 23, 1903_

MR. ANDREW CARNEGIE
New York, N.Y.

DEAR SIR:

We, the employees of the Homestead Steel Works, desire by
this means to express to you through our Committee our great
appreciation of your benevolence in establishing the "Andrew
Carnegie Relief Fund," the first annual report of its
operation having been placed before us during the past
month.

The interest which you have always shown in your workmen has
won for you an appreciation which cannot be expressed by
mere words. Of the many channels through which you have
sought to do good, we believe that the "Andrew Carnegie