Much of the success of the Edgar Thomson Works belongs to this man.
In later years he declined an interest in the firm which would have made him a millionaire.

I told him one day that some of the young men who had been given an interest were now making much more than he was and we had voted to make him a partner.

This entailed no financial responsibility, as we always provided that the cost of the interest given was payable only out of profits.
"No," he said, "I don't want to have my thoughts running on business.
I have enough trouble looking after these works.

Just give me a h--l of a salary if you think I'm worth it." "All right, Captain, the salary of the President of the United States is yours." "That's the talk," said the little Welshman.[35] [Footnote 35: The story is told that when Mr.Carnegie was selecting his younger partners he one day sent for a young Scotsman, Alexander R.Peacock, and asked him rather abruptly: "Peacock, what would you give to be made a millionaire ?" "A liberal discount for cash, sir," was the answer.
He was a partner owning a two per cent interest when the Carnegie Steel Company was merged into the United States Steel Corporation.] Our competitors in steel were at first disposed to ignore us.

Knowing the difficulties they had in starting their own steel works, they could not believe we would be ready to deliver rails for another year and declined to recognize us as competitors.