of a billion dollars in cash.
"There was a golf game in January on the frost-cracking heath of the St. Andrews links in Westchester, with Andrew bundled up in sweaters against the cold, and Charlie talking volubly, as usual, to keep his spirits up. But no word of business was mentioned until the pair sat down in the cozy warmth of the Carnegie cottage hard by. Then, with the same persuasiveness that had hypnotized eighty millionaires at the University Club, Schwab poured out the glittering promises of retirement in comfort, of untold millions to satisfy the old man's social caprices. Carnegie capitulated, wrote a figure on a slip of paper, handed it to Schwab and said, `all right, that's what we'll sell for.'
"The figure was approximately $400,000,000, and was reached by taking the $320,000,000 mentioned by Schwab as a basic figure, and adding to it $80,000,000 to represent the increased capital value over the previous two years.
"Later, on the deck of a trans-Atlantic liner, the Scotsman said ruefully to Morgan, `I wish I had asked you for $100,000,000 more.'
"`If you had asked for it, you'd have gotten it,' Morgan told him cheerfully.
* * * * * * *
"There was an uproar, of course. A British correspondent cabled that the foreign steel world was `appalled' by the gigantic combination. President Hadley, of Yale, declared that unless trusts were regulated the country might expect `an emperor in Washington within the next twenty-five years.' But that able stock manipulator, Keene, went at his work of shoving the new stock at the public so vigorously that all the excess water-estimated by some at nearly $600,000,000-was absorbed in a twinkling. So Carnegie had his millions, and the Morgan syndicate had $62,000,000 for all its `trouble,' and all the `boys,' from Gates to Gary, had their millions.
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