Frenzied Finance, Vol. 1: The Crime of AmalgamatedLawson, Thomas William
History
Frenzied Finance, Vol. 1: The Crime of Amalgamated
Lawson, Thomas William
Amalgamated Copper Co.; Gas companies -- Massachusetts -- Boston; Insurance -- United States; Speculation; Standard Oil Company
"This, if I accepted your proposal, I could no longer be, even were
Addicks and Boston Gas out of it. The man who is 'Standard Oil' wears a
collar, and if I did what you ask I should expect to wear a collar
and--and--I can't do it." I stopped; I was not excited; it was
impossible to be so with that calm figure, apparently cut from crystal
ice, so near me, but I was very much in earnest. I wondered what would
come next. Mr. Rogers raised his hand and held it out to me, mine
grasped it, and without a word thus we stood long enough to put that
seal on our friendship which none of the many financial hells we jointly
passed through in the after-nine years was hot enough to melt.
But that friendship is ended now. Henry H. Rogers' evidence in the
Boston "Gas Trial" was the spark that kindled the dead leaves of the
past into the conflagration which, now spread beyond the control of man,
has brought to light the hidden skeletons of forgotten misdeeds and
exposed them for all the world to see.
He at last broke the spell. "Lawson, you're a queer chap; but we are all
queer, for that matter, and we must work along those lines we each think
best. I once stood, just as you do now, in front of a man whom I looked
up to as all that was wisest and best. He made an earnest effort to
induce me to choose the ministry for my life-work, but I chose dollars
instead, and I sometimes wonder if I chose wisely; but, as I said, we
all must select our pack and, as we are the ones who must carry it, I
suppose no one else should complain."
After a moment's pause I shot ahead into business again as though we had
never left it. It took me but a short time to arrange the details of our
trade. The Bay State of Delaware was to buy all of Mr. Rogers' Boston
investments and to pay for the same $4,500,000--$1,500,000 in six
months, $1,000,000 in a year, the balance in a year and a half, with
interest at five per cent.; the Bay State was to put up, as a pledge of
good faith, $1,500,000 new Boston bonds; and as soon as such deposit was
made, Mr. Rogers was to transfer his securities and corporation to us. I
was to go to Philadelphia that night and arrange all details with
Addicks and report the following day.
It was 10.30 o'clock when I left 26 East 57th Street. I hurried down to
the Brunswick, where I had time only to shift my clothes and catch the
"midnight" for Philadelphia. After breakfast next morning I tackled
Addicks. It goes without saying that I was a cyclone of enthusiasm as I
minutely ran through what I had done, beginning with my letter to Rogers
and finishing up with my visit of the night before. I omitted not the
slightest detail, and when I wound up with my request that Addicks get
the lawyers together and prepare the necessary documents for the
turnover of the bonds and acceptance of Rogers' properties, I felt that
my share in the Boston gas war was almost ended.
CHAPTER XVIII
THE DUPLICITY OF ADDICKS
Public-domain text, read in full here on John Shaqi.
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