Carnegie was once again one of the premier players in the International League. On the season, Carnegie batted .330 with 182 hits, 35 doubles, three triples and 45 home runs in 142 games. Amongst all International League batters that season, Carnegie was first in home runs, runs batted in (136) and total bases (358); second in slugging percentage (.649); third in hits; and sixth in doubles. His 45 home runs were, at the time, the fourth highest home run total in the International League's history. It was asserted by The Pittsburgh Press that if Carnegie had started playing professional baseball in the mid-1920s when he was younger, he would have been "sensational". Carnegie won the 1938 International League Most Valuable Player Award after the season. On April 4, 1939, it was announced Carnegie would re-sign with the Bisons, making it his ninth season with the team. During the 1939 season, in a game against the Newark Bears on August 5, Carnegie was formally presented with the 1938 International League Most Valuable Player Award. Carnegie batted .294 with 146 hits, 25 doubles, three triples and 29 home runs in 143 games played during the 1939 season. He led the International League in home runs that season. On March 13, 1940, Carnegie signed his tenth contract with the Bisons. On the season, Carnegie batted .281 with 93 hits, 16 doubles, three triples and 15 home runs in 97 games played. In 1942, Carnegie continued playing with Buffalo and batted .257 with 38 hits, five doubles, one triple and seven home runs in 71 games played. On January 22, 1942, Carnegie was given an unconditional release from the Bisons, a move in which Buffalo general manager John Stiglmeier said "was the hardest thing I ever had to do". Later career On March 23, 1942, Carnegie signed with the Class-D Lockport White Sox of the PONY League. The 43-year-old Carnegie batted .310 with 119 hits, 20 doubles, five triples and 16 home runs in 105 games played that season, finishing sixth in the league in home runs that campaign. After an absence from professional baseball in 1943, Carnegie returned in 1944 with the Class-D Jamestown Falcons as a player-manager. It was Carnegie's managerial debut. In 96 game that season, Carnegie batted .305 with 97 hits, 17 doubles, four triples and four home runs. As a team, the Falcons went 70–54, good enough for second