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
It is not surprising that there should now have ensued an interval of
silence and peace in the Boston gas war. Disheartened, disgusted,
disappointed, I had to take stock of our position. However enraged I
might be at the new revelation of Addicks' extraordinary veniality, the
other elements in the situation remained as before. I could see nothing
for me to do but to resume the tactics I had employed previous to the
meeting with Rogers. My friends' interests had to be protected, and to
do that war must be waged until a vulnerable spot in Rogers' armor had
been found. But it was some days before I could screw my enthusiasm back
to fighting-pitch. In the mean time Rogers did nothing. He, too, was
waiting for new developments.
To this extent the situation had altered, however: I knew just where I
stood with Rogers, and he realized the consequences of pressing us into
a corner. I knew he would sell his company and retire from the field if
I could find a way to pay him for so doing. He knew that if he turned
the screws too hard I would as a last resort turn the tables by throwing
Bay State Gas into bankruptcy. I tried many times and in many ways to
find means to bring about a termination of the struggle, but to no
purpose. Our extremity was such that it was impossible to do more than
protect our companies from a receivership. To raise new capital to
deposit as collateral with Rogers was out of the question, for the
public, looking on at what was evidently most disastrous warfare, was in
no temper to buy new stock.
Public-domain text, read in full here on John Shaqi.
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